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MDYG vs. MYY
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MDYG vs. MYY

Last updated Jun 5, 2026

MDYG (SPDR S&P 400 Mid Cap Growth ETF) and MYY (ProShares Short S&P Mid Cap400) are both exchange-traded funds - MDYG is a Mid Cap Growth Equities fund tracking the S&P MidCap 400 Growth Index, while MYY is a Inverse Equities fund tracking the S&P Mid Cap 400 (-100%). Both are passively managed. Over the past 10 years, MDYG returned 11.58%/yr vs -11.09%/yr for MYY. At a correlation of -0.94, they often move in opposite directions. MDYG charges 0.15%/yr vs 0.95%/yr for MYY.

Performance

MDYG vs. MYY - 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 ProShares Short S&P Mid Cap400 (MYY). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MDYG achieves a 19.44% return, which is significantly higher than MYY's -11.43% return. Over the past 10 years, MDYG has outperformed MYY with an annualized return of 11.58%, while MYY has yielded a comparatively lower -11.09% annualized return.

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%

MYY

1D
-0.34%
1M
-2.46%
YTD
-11.43%
6M
-10.93%
1Y
-17.16%
3Y*
-10.30%
5Y*
-5.99%
10Y*
-11.09%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MDYG vs. MYY - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MDYG
SPDR S&P 400 Mid Cap Growth ETF		19.44%7.22%15.84%17.30%-18.92%18.46%22.57%26.10%-10.46%19.61%
MYY
ProShares Short S&P Mid Cap400		-11.43%-4.05%-7.08%-9.46%10.23%-23.04%-25.94%-19.98%12.79%-14.63%

Correlation

The correlation between MDYG and MYY is -0.96, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.96

Correlation (3Y)
Calculated over the trailing 3-year period

-0.97

Correlation (5Y)
Calculated over the trailing 5-year period

-0.98

Correlation (10Y)
Calculated over the trailing 10-year period

-0.96

Correlation (All Time)
Calculated using the full available price history since Jun 22, 2006

-0.94

The correlation between MDYG and MYY has been stable across timeframes, ranging from -0.98 to -0.94 - a consistent structural relationship.

Compare stocks, funds, or ETFs

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SPDR S&P 400 Mid Cap Growth ETF

ProShares Short S&P Mid Cap400

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Often compared with MYY:
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Return for Risk

MDYG vs. MYY — 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
MYY
MYY Risk / Return Rank: 11
Overall Rank
MYY Sharpe Ratio Rank: 11
Sharpe Ratio Rank
MYY Sortino Ratio Rank: 22
Sortino Ratio Rank
MYY Omega Ratio Rank: 22
Omega Ratio Rank
MYY Calmar Ratio Rank: 11
Calmar Ratio Rank
MYY Martin Ratio Rank: 00
Martin Ratio Rank
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. MYY - 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 ProShares Short S&P Mid Cap400 (MYY). 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.

MDYGMYYDifference
Sharpe ratioReturn per unit of total volatility
1.78
-1.11

+2.89

Sortino ratioReturn per unit of downside risk
2.56
-1.50

+4.06

Omega ratioGain probability vs. loss probability

1.31

0.83

+0.48

Calmar ratioReturn relative to maximum drawdown

3.06

-0.97

+4.02

Martin ratioReturn relative to average drawdown

12.24

-1.79

+14.03

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. MYY - Sharpe Ratio Comparison

The current MDYG Sharpe Ratio is 1.78, which is higher than the MYY Sharpe Ratio of -1.11. The chart below compares the historical Sharpe Ratios of MDYG and MYY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

MDYGMYYDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.78

-1.11

+2.89

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.42

-0.31

+0.73

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.55

-0.52

+1.08

Sharpe Ratio (All Time)

Calculated using the full available price history

0.48

-0.53

+1.01

Drawdowns

MDYG vs. MYY - Drawdown Comparison

The maximum MDYG drawdown since its inception was -58.44%, smaller than the maximum MYY drawdown of -95.09%. Use the drawdown chart below to compare losses from any high point for MDYG and MYY.

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Drawdown Indicators

MDYGMYYDifference

Max Drawdown

Largest peak-to-trough decline

-58.44%

-95.09%

+36.65%

Max Drawdown (1Y)

Largest decline over 1 year

-9.91%

-17.84%

+7.93%

Max Drawdown (3Y)

Largest decline over 3 years

-25.45%

-33.70%

+8.25%

Max Drawdown (5Y)

Largest decline over 5 years

-29.26%

-36.41%

+7.15%

Max Drawdown (10Y)

Largest decline over 10 years

-39.27%

-71.31%

+32.04%

Current Drawdown

Current decline from peak

0.00%

-95.09%

+95.09%

Average Drawdown

Average peak-to-trough decline

-8.03%

-72.15%

+64.12%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.47%

9.62%

-7.15%

Volatility

MDYG vs. MYY - Volatility Comparison

SPDR S&P 400 Mid Cap Growth ETF (MDYG) has a higher volatility of 5.08% compared to ProShares Short S&P Mid Cap400 (MYY) at 4.21%. This indicates that MDYG's price experiences larger fluctuations and is considered to be riskier than MYY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MDYGMYYDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.08%

4.21%

+0.87%

Volatility (6M)

Calculated over the trailing 6-month period

13.21%

11.40%

+1.81%

Volatility (1Y)

Calculated over the trailing 1-year period

17.01%

15.53%

+1.48%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.62%

19.62%

+1.00%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.05%

21.25%

-0.20%

MDYG vs. MYY - Expense Ratio Comparison

MDYG has a 0.15% expense ratio, which is lower than MYY's 0.95% expense ratio.

Dividends

MDYG vs. MYY - Dividend Comparison

MDYG's dividend yield for the trailing twelve months is around 0.61%, less than MYY's 4.47% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
MYY
ProShares Short S&P Mid Cap400		4.47%4.20%4.92%5.08%0.40%0.00%0.05%1.52%0.34%0.00%0.00%0.00%

Frequently Asked Questions

MDYG and MYY have a correlation of -0.96, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MDYG has higher volatility (5.08%) compared to MYY (4.21%). In terms of maximum drawdown, MDYG dropped -58.44% vs MYY's -95.09%.

On 10-year performance, MDYG leads with 11.58% vs -11.09% for MYY. On fees, MDYG is cheaper at 0.15% per year. On volatility, MYY has been the lower-risk option at 4.21%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, MDYG has performed better with a 11.58% return vs -11.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

MDYG is cheaper with a 0.15% expense ratio, compared with 0.95% for MYY.

MYY has the higher dividend yield at 4.47%, compared with 0.61% for MDYG.

MDYG is categorized as Mid Cap Growth Equities, while MYY is Inverse Equities. MDYG tracks S&P MidCap 400 Growth Index, while MYY tracks S&P Mid Cap 400 (-100%). They also come from different issuers: State Street and ProShares. Their fees differ too: 0.15% for MDYG and 0.95% for MYY.

MDYG currently has the higher Sharpe Ratio (1.78 vs -1.11), 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.

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