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 12.34%/yr vs -11.74%/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 20.08% return, which is significantly higher than MYY's -12.52% return. Over the past 10 years, MDYG has outperformed MYY with an annualized return of 12.34%, while MYY has yielded a comparatively lower -11.74% annualized return.
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%
MYY
- 1D
- -0.74%
- 1M
- -2.15%
- YTD
- -12.52%
- 6M
- -10.65%
- 1Y
- -17.63%
- 3Y*
- -10.09%
- 5Y*
- -6.17%
- 10Y*
- -11.74%
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 | 20.08% | 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 | -12.52% | -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 | +2.88 | ||
| Sortino ratioReturn per unit of downside risk | +4.02 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.83 | +0.48 |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | -1.01 | +4.13 |
| Martin ratioReturn relative to average drawdown | 12.38 | -1.96 | +14.34 |
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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 -95.15%. 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% | -95.15% | +36.71% |
Max Drawdown (1Y)Largest decline over 1 year | -9.91% | -17.46% | +7.55% |
Max Drawdown (3Y)Largest decline over 3 years | -25.45% | -34.51% | +9.06% |
Max Drawdown (5Y)Largest decline over 5 years | -29.26% | -37.19% | +7.93% |
Max Drawdown (10Y)Largest decline over 10 years | -39.27% | -71.66% | +32.39% |
Current DrawdownCurrent decline from peak | -0.30% | -95.15% | +94.85% |
Average DrawdownAverage peak-to-trough decline | -8.01% | -72.20% | +64.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.49% | 9.31% | -6.82% |
Volatility
MDYG vs. MYY - Volatility Comparison
SPDR S&P 400 Mid Cap Growth ETF (MDYG) has a higher volatility of 5.59% compared to ProShares Short S&P Mid Cap400 (MYY) at 4.30%. 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 | 5.59% | 4.30% | +1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 13.85% | 11.74% | +2.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.62% | 15.84% | +1.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 20.71% | 19.63% | +1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.07% | 21.24% | -0.17% |
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 0.57%, less than MYY's 4.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MYY ProShares Short S&P Mid Cap400 | 4.36% | 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 (5.59%) compared to MYY (4.30%). In terms of maximum drawdown, MDYG dropped -58.44% vs MYY's -95.15%.
On 10-year performance, MDYG leads with 12.34% vs -11.74% for MYY. On fees, MDYG is cheaper at 0.15% per year. On volatility, MYY has been the lower-risk option at 4.30%. 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 12.34% return vs -11.74%. 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 4.36%, compared with 0.57% 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 (1.76 vs -1.12), 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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