MDYG vs. MYY
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 11.06%/yr vs -10.86%/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
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Returns By Period
In the year-to-date period, MDYG achieves a 17.08% return, which is significantly higher than MYY's -11.79% return. Over the past 10 years, MDYG has outperformed MYY with an annualized return of 11.06%, while MYY has yielded a comparatively lower -10.86% annualized return.
MDYG
- 1D
- -0.40%
- 1M
- -1.93%
- 6M
- 9.40%
- YTD
- 17.08%
- 1Y
- 24.08%
- 3Y*
- 14.59%
- 5Y*
- 8.51%
- 10Y*
- 11.06%
MYY
- 1D
- -0.42%
- 1M
- 0.37%
- 6M
- -6.31%
- YTD
- -11.79%
- 1Y
- -14.85%
- 3Y*
- -8.11%
- 5Y*
- -6.74%
- 10Y*
- -10.86%
MDYG vs. MYY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MDYG SPDR S&P 400 Mid Cap Growth ETF | 17.08% | 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 | -11.79% | -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 21, 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.
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Return for Risk
MDYG vs. MYY — Risk / Return Rank
MDYG
MYY
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.
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 | MYY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.31 | ||
| Sortino ratioReturn per unit of downside risk | +3.27 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.86 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | -0.82 | +3.26 |
| Martin ratioReturn relative to average drawdown | 9.41 | -1.52 | +10.93 |
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Drawdowns
MDYG vs. MYY - Drawdown Comparison
The maximum MDYG drawdown since its inception was -58.44%, smaller than the maximum MYY drawdown of -95.20%. Use the drawdown chart below to compare losses from any high point for MDYG and MYY.
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Drawdown Indicators
| MDYG | MYY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -58.44% | -95.20% | +36.76% |
Max Drawdown (1Y)Largest decline over 1 year | -9.91% | -18.25% | +8.34% |
Max Drawdown (3Y)Largest decline over 3 years | -25.45% | -35.14% | +9.69% |
Max Drawdown (5Y)Largest decline over 5 years | -29.26% | -37.79% | +8.53% |
Max Drawdown (10Y)Largest decline over 10 years | -39.27% | -71.93% | +32.66% |
Current DrawdownCurrent decline from peak | -3.72% | -95.11% | +91.39% |
Average DrawdownAverage peak-to-trough decline | -7.99% | -72.27% | +64.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.56% | 9.82% | -7.26% |
Volatility
MDYG vs. MYY - Volatility Comparison
SPDR S&P 400 Mid Cap Growth ETF (MDYG) has a higher volatility of 4.55% compared to ProShares Short S&P Mid Cap400 (MYY) at 3.41%. 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
| MDYG | MYY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.55% | 3.41% | +1.14% |
Volatility (6M)Calculated over the trailing 6-month period | 13.97% | 11.68% | +2.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.75% | 15.70% | +2.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.73% | 19.59% | +1.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.05% | 21.20% | -0.15% |
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 0.59%, less than MYY's 4.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDYG SPDR S&P 400 Mid Cap Growth ETF | 0.59% | 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 | 4.32% | 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 (4.55%) compared to MYY (3.41%). In terms of maximum drawdown, MDYG dropped -58.44% vs MYY's -95.20%.
On 10-year performance, MDYG leads with 11.06% vs -10.86% for MYY. On fees, MDYG is cheaper at 0.15% per year. On volatility, MYY has been the lower-risk option at 3.41%. 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 11.06% return vs -10.86%. 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 4.32%, compared with 0.59% 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 (1.36 vs -0.95), 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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