MDYG vs. JHMM

Last updated Jun 26, 2026

MDYG (SPDR S&P 400 Mid Cap Growth ETF) and JHMM (John Hancock Multifactor Mid Cap ETF) are both Mid Cap Growth Equities funds - MDYG tracks the S&P MidCap 400 Growth Index while JHMM tracks the John Hancock Dimensional Mid Cap Index. Both are passively managed. Over the past 10 years, MDYG returned 12.34%/yr vs 12.71%/yr for JHMM. With a 0.95 correlation, they move nearly in lockstep. MDYG charges 0.15%/yr vs 0.42%/yr for JHMM.

Performance

MDYG vs. JHMM - 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 John Hancock Multifactor Mid Cap ETF (JHMM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MDYG achieves a 20.08% return, which is significantly higher than JHMM's 14.37% return. Both investments have delivered pretty close results over the past 10 years, with MDYG having a 12.34% annualized return and JHMM not far ahead at 12.71%.

MDYG

• 1D: 0.95%
• 1M: 1.82%
• YTD: 20.08%
• 6M: 17.29%
• 1Y: 30.79%
• 3Y*: 17.92%
• 5Y*: 8.32%
• 10Y*: 12.34%

JHMM

• 1D: 1.01%
• 1M: 2.20%
• YTD: 14.37%
• 6M: 12.33%
• 1Y: 25.45%
• 3Y*: 16.95%
• 5Y*: 8.58%
• 10Y*: 12.71%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MDYG vs. JHMM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDYG SPDR S&P 400 Mid Cap Growth ETF	20.08%	7.22%	15.84%	17.30%	-18.92%	18.46%	22.57%	26.10%	-10.46%	19.61%
JHMM John Hancock Multifactor Mid Cap ETF	14.37%	10.73%	14.61%	14.53%	-15.30%	24.54%	16.22%	30.01%	-9.57%	19.96%

Correlation

The correlation between MDYG and JHMM is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Sep 29, 2015	0.96

The correlation between MDYG and JHMM has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

MDYG vs. JHMM - Sectors Allocation Comparison

Sectors	MDYG	JHMM
Industrials	30.2%	19.0%
Technology	24.8%	19.3%
Healthcare	13.7%	10.5%
Consumer Cyclical	7.5%	10.8%
Financial Services	6.7%	14.8%
Real Estate	5.3%	5.2%
Basic Materials	3.5%	4.1%
Energy	3.2%	4.8%
Utilities	2.0%	5.1%
Consumer Defensive	1.8%	3.6%
Communication Services	1.4%	2.7%

Return for Risk

MDYG vs. JHMM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MDYG

MDYG Risk / Return Rank: 65
MDYG Sharpe Ratio Rank: 61
MDYG Sortino Ratio Rank: 61
MDYG Omega Ratio Rank: 57
MDYG Calmar Ratio Rank: 71
MDYG Martin Ratio Rank: 75

JHMM

JHMM Risk / Return Rank: 64
JHMM Sharpe Ratio Rank: 60
JHMM Sortino Ratio Rank: 62
JHMM Omega Ratio Rank: 57
JHMM Calmar Ratio Rank: 68
JHMM Martin Ratio Rank: 71

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. JHMM - 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 John Hancock Multifactor Mid Cap ETF (JHMM). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MDYG	JHMM	Difference
Sharpe ratio: Return per unit of total volatility	1.76	1.77	-0.02
Sortino ratio: Return per unit of downside risk	2.50	2.53	-0.03
Omega ratio: Gain probability vs. loss probability	1.31	1.31	0.00
Calmar ratio: Return relative to maximum drawdown	3.12	2.96	+0.16
Martin ratio: Return relative to average drawdown	12.38	11.38	+1.00

MDYG vs. JHMM - Sharpe Ratio Comparison

The current MDYG Sharpe Ratio is 1.76, which is comparable to the JHMM Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of MDYG and JHMM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MDYG vs. JHMM - Drawdown Comparison

The maximum MDYG drawdown since its inception was -58.44%, which is greater than JHMM's maximum drawdown of -40.71%. Use the drawdown chart below to compare losses from any high point for MDYG and JHMM.

Drawdown Indicators

	MDYG	JHMM	Difference
Max Drawdown Largest peak-to-trough decline	-58.44%	-40.71%	-17.73%
Max Drawdown (1Y) Largest decline over 1 year	-9.91%	-8.64%	-1.27%
Max Drawdown (3Y) Largest decline over 3 years	-25.45%	-21.88%	-3.57%
Max Drawdown (5Y) Largest decline over 5 years	-29.26%	-24.10%	-5.16%
Max Drawdown (10Y) Largest decline over 10 years	-39.27%	-40.71%	+1.44%
Current Drawdown Current decline from peak	-0.30%	0.00%	-0.30%
Average Drawdown Average peak-to-trough decline	-8.01%	-5.41%	-2.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.49%	2.24%	+0.25%

Volatility

MDYG vs. JHMM - Volatility Comparison

SPDR S&P 400 Mid Cap Growth ETF (MDYG) has a higher volatility of 5.59% compared to John Hancock Multifactor Mid Cap ETF (JHMM) at 4.41%. This indicates that MDYG's price experiences larger fluctuations and is considered to be riskier than JHMM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDYG	JHMM	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.59%	4.41%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	13.85%	10.90%	+2.95%
Volatility (1Y) Calculated over the trailing 1-year period	17.62%	14.44%	+3.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.71%	18.36%	+2.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.07%	19.58%	+1.49%

MDYG vs. JHMM - Expense Ratio Comparison

MDYG has a 0.15% expense ratio, which is lower than JHMM's 0.42% expense ratio.

Dividends

MDYG vs. JHMM - Dividend Comparison

MDYG's dividend yield for the trailing twelve months is around 0.57%, less than JHMM's 0.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JHMM John Hancock Multifactor Mid Cap ETF	0.85%	0.98%	1.01%	1.17%	1.16%	0.72%	1.04%	1.02%	1.36%	0.90%	1.15%	0.33%
MDYG SPDR S&P 400 Mid Cap Growth ETF	0.57%	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

Can I hold both MDYG and JHMM in my portfolio?

With a correlation of 0.94, MDYG and JHMM move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MDYG or JHMM?

MDYG has higher volatility (5.59%) compared to JHMM (4.41%). In terms of maximum drawdown, MDYG dropped -58.44% vs JHMM's -40.71%.

Which ETF is better, MDYG or JHMM?

On 10-year performance, JHMM leads with 12.71% vs 12.34% for MDYG. On fees, MDYG is cheaper at 0.15% per year. On volatility, JHMM has been the lower-risk option at 4.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MDYG or JHMM?

Over the 10-year period, JHMM has performed better with a 12.71% return vs 12.34%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MDYG or JHMM?

MDYG is cheaper with a 0.15% expense ratio, compared with 0.42% for JHMM.

Which ETF pays a higher dividend yield, MDYG or JHMM?

JHMM has the higher dividend yield at 0.85%, compared with 0.57% for MDYG.

What is the main difference between MDYG and JHMM?

MDYG tracks S&P MidCap 400 Growth Index, while JHMM tracks John Hancock Dimensional Mid Cap Index. They also come from different issuers: State Street and Manulife. Their fees differ too: 0.15% for MDYG and 0.42% for JHMM.

Which has better risk-adjusted returns?

JHMM currently has the higher Sharpe Ratio (1.77 vs 1.76), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.