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MDYG vs. FEMG
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MDYG vs. FEMG

Last updated Jun 5, 2026

MDYG (SPDR S&P 400 Mid Cap Growth ETF) and FEMG (Fidelity Enhanced Mid Cap Growth ETF) are both Mid Cap Growth Equities funds. MDYG is passively managed, while FEMG is actively managed. A 0.65 correlation means they provide meaningful diversification when combined. MDYG charges 0.15%/yr vs 0.23%/yr for FEMG.

Performance

MDYG vs. FEMG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P 400 Mid Cap Growth ETF (MDYG) and Fidelity Enhanced Mid Cap Growth ETF (FEMG). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

MDYG

1D
0.27%
1M
4.57%
YTD
19.44%
6M
18.73%
1Y
30.20%
3Y*
18.49%
5Y*
8.66%
10Y*
11.58%

FEMG

1D
0.91%
1M
3.86%
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

MDYG vs. FEMG - Yearly Performance Comparison

2026 (YTD)
MDYG
SPDR S&P 400 Mid Cap Growth ETF		6.34%
FEMG
Fidelity Enhanced Mid Cap Growth ETF		5.19%

Correlation

The correlation between MDYG and FEMG is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

Correlation
Correlation (All Time)
Calculated using the full available price history since May 1, 2026

0.65

MDYG vs. FEMG - Sectors Allocation Comparison

Sectors
MDYG
FEMG

Industrials

30.9%
26.5%

Technology

21.5%
24.0%

Healthcare

13.7%
12.6%

Consumer Cyclical

8.1%
17.4%

Financial Services

7.1%
6.0%

Real Estate

5.6%
1.8%

Energy

3.7%
3.3%

Basic Materials

3.7%
0.7%

Consumer Defensive

2.1%
1.4%

Utilities

2.0%
2.9%

Communication Services

1.5%
2.7%

Industrials

MDYG
30.9%
FEMG
26.5%

Technology

MDYG
21.5%
FEMG
24.0%

Healthcare

MDYG
13.7%
FEMG
12.6%

Consumer Cyclical

MDYG
8.1%
FEMG
17.4%

Financial Services

MDYG
7.1%
FEMG
6.0%

Real Estate

MDYG
5.6%
FEMG
1.8%

Energy

MDYG
3.7%
FEMG
3.3%

Basic Materials

MDYG
3.7%
FEMG
0.7%

Consumer Defensive

MDYG
2.1%
FEMG
1.4%

Utilities

MDYG
2.0%
FEMG
2.9%

Communication Services

MDYG
1.5%
FEMG
2.7%

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SPDR S&P 400 Mid Cap Growth ETF

Fidelity Enhanced Mid Cap Growth ETF

Often compared with MDYG:
MDYG vs. IMCGMDYG vs. VOMDYG vs. IVOVMDYG vs. SPYGMDYG vs. VOTMDYG vs. XMVMMDYG vs. SCHD
Often compared with FEMG:
FEMG vs. KOMPFEMG vs. JHMMFEMG vs. PAMCFEMG vs. QQJGFEMG vs. FBTCFEMG vs. BCSMFEMG vs. FELG

Return for Risk

MDYG vs. FEMG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MDYG
MDYG Risk / Return Rank: 5858
Overall Rank
MDYG Sharpe Ratio Rank: 5353
Sharpe Ratio Rank
MDYG Sortino Ratio Rank: 5454
Sortino Ratio Rank
MDYG Omega Ratio Rank: 5151
Omega Ratio Rank
MDYG Calmar Ratio Rank: 6363
Calmar Ratio Rank
MDYG Martin Ratio Rank: 6868
Martin Ratio Rank
FEMG
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MDYG vs. FEMG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 400 Mid Cap Growth ETF (MDYG) and Fidelity Enhanced Mid Cap Growth ETF (FEMG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

MDYGFEMGDifference
Sharpe ratioReturn per unit of total volatility
1.78

—

—

Sortino ratioReturn per unit of downside risk
2.56

—

—

Omega ratioGain probability vs. loss probability

1.31

—

—

Calmar ratioReturn relative to maximum drawdown

3.06

—

—

Martin ratioReturn relative to average drawdown

12.24

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MDYG vs. FEMG - Sharpe Ratio Comparison

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Sharpe Ratios by Period

MDYGFEMGDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.78

—

—

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.42

—

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.48

5.84

-5.36

Drawdowns

MDYG vs. FEMG - Drawdown Comparison

The maximum MDYG drawdown since its inception was -58.44%, which is greater than FEMG's maximum drawdown of -3.29%. Use the drawdown chart below to compare losses from any high point for MDYG and FEMG.

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Drawdown Indicators

MDYGFEMGDifference

Max Drawdown

Largest peak-to-trough decline

-58.44%

-3.29%

-55.15%

Max Drawdown (1Y)

Largest decline over 1 year

-9.91%

—

—

Max Drawdown (3Y)

Largest decline over 3 years

-25.45%

—

—

Max Drawdown (5Y)

Largest decline over 5 years

-29.26%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-39.27%

—

—

Current Drawdown

Current decline from peak

0.00%

-0.28%

+0.28%

Average Drawdown

Average peak-to-trough decline

-8.03%

-0.93%

-7.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.47%

—

—

Volatility

MDYG vs. FEMG - Volatility Comparison

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Volatility by Period

MDYGFEMGDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.08%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

13.21%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

17.01%

12.25%

+4.76%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.62%

12.25%

+8.37%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.05%

12.25%

+8.80%

MDYG vs. FEMG - Expense Ratio Comparison

MDYG has a 0.15% expense ratio, which is lower than FEMG's 0.23% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

MDYG vs. FEMG - Dividend Comparison

MDYG's dividend yield for the trailing twelve months is around 0.61%, while FEMG has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
FEMG
Fidelity Enhanced Mid Cap Growth ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
MDYG
SPDR S&P 400 Mid Cap Growth ETF		0.61%0.75%0.87%1.20%1.16%0.69%0.71%1.21%1.36%2.23%1.25%2.51%

Frequently Asked Questions

MDYG and FEMG have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, MDYG is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

MDYG is cheaper with a 0.15% expense ratio, compared with 0.23% for FEMG.

MDYG has the higher dividend yield at 0.61%, compared with 0.00% for FEMG.

They also come from different issuers: State Street and Fidelity. Their fees differ too: 0.15% for MDYG and 0.23% for FEMG.

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