MDYG vs. XLU

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR S&P 400 Mid Cap Growth ETF (MDYG) and Utilities Select Sector SPDR Fund (XLU).

MDYG and XLU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MDYG is a passively managed fund by State Street that tracks the performance of the S&P MidCap 400 Growth Index. It was launched on Nov 8, 2005. XLU is a passively managed fund by State Street that tracks the performance of the Utilities Select Sector Index. It was launched on Dec 16, 1998. Both MDYG and XLU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

MDYG vs. XLU - 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 Utilities Select Sector SPDR Fund (XLU). The values are adjusted to include any dividend payments, if applicable.

MDYG vs. XLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDYG SPDR S&P 400 Mid Cap Growth ETF	5.12%	7.22%	15.84%	17.30%	-18.92%	18.46%	22.57%	26.10%	-10.46%	19.61%
XLU Utilities Select Sector SPDR Fund	8.77%	16.03%	23.31%	-7.18%	1.44%	17.70%	0.51%	25.93%	3.94%	12.05%

Returns By Period

In the year-to-date period, MDYG achieves a 5.12% return, which is significantly lower than XLU's 8.77% return. Over the past 10 years, MDYG has outperformed XLU with an annualized return of 10.61%, while XLU has yielded a comparatively lower 9.79% annualized return.

MDYG

• 1D: 1.12%
• 1M: -5.69%
• YTD: 5.12%
• 6M: 6.18%
• 1Y: 22.14%
• 3Y*: 13.40%
• 5Y*: 5.95%
• 10Y*: 10.61%

XLU

• 1D: 0.48%
• 1M: -1.98%
• YTD: 8.77%
• 6M: 6.26%
• 1Y: 19.98%
• 3Y*: 14.30%
• 5Y*: 10.90%
• 10Y*: 9.79%

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

MDYG vs. XLU - Expense Ratio Comparison

MDYG has a 0.15% expense ratio, which is higher than XLU's 0.13% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

MDYG

SPDR S&P 400 Mid Cap Growth ETF

XLU

Utilities Select Sector SPDR Fund

Return for Risk

MDYG vs. XLU — Risk / Return Rank

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

MDYG

MDYG Risk / Return Rank: 59
MDYG Sharpe Ratio Rank: 54
MDYG Sortino Ratio Rank: 57
MDYG Omega Ratio Rank: 53
MDYG Calmar Ratio Rank: 63
MDYG Martin Ratio Rank: 67

XLU

XLU Risk / Return Rank: 66
XLU Sharpe Ratio Rank: 70
XLU Sortino Ratio Rank: 66
XLU Omega Ratio Rank: 62
XLU Calmar Ratio Rank: 79
XLU Martin Ratio Rank: 52

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. XLU - 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 Utilities Select Sector SPDR Fund (XLU). 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.

	MDYG	XLU	Difference
Sharpe ratio Return per unit of total volatility	1.00	1.27	-0.27
Sortino ratio Return per unit of downside risk	1.54	1.73	-0.19
Omega ratio Gain probability vs. loss probability	1.21	1.23	-0.03
Calmar ratio Return relative to maximum drawdown	1.69	2.21	-0.52
Martin ratio Return relative to average drawdown	7.23	5.31	+1.92
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. XLU - Sharpe Ratio Comparison

The current MDYG Sharpe Ratio is 1.00, which is comparable to the XLU Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of MDYG and XLU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MDYG	XLU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	1.27	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.29	0.64	-0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.51	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.41	+0.04

Correlation

The correlation between MDYG and XLU is 0.42, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MDYG vs. XLU - Dividend Comparison

MDYG's dividend yield for the trailing twelve months is around 0.69%, less than XLU's 2.58% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MDYG SPDR S&P 400 Mid Cap Growth ETF	0.69%	0.75%	0.87%	1.20%	1.16%	0.69%	0.71%	1.21%	1.36%	2.23%	1.25%	2.51%
XLU Utilities Select Sector SPDR Fund	2.58%	2.71%	2.96%	3.39%	2.92%	2.79%	3.14%	2.95%	3.33%	3.33%	3.41%	3.67%

Drawdowns

MDYG vs. XLU - Drawdown Comparison

The maximum MDYG drawdown since its inception was -58.44%, which is greater than XLU's maximum drawdown of -51.98%. Use the drawdown chart below to compare losses from any high point for MDYG and XLU.

Drawdown Indicators

	MDYG	XLU	Difference
Max Drawdown Largest peak-to-trough decline	-58.44%	-51.98%	-6.46%
Max Drawdown (1Y) Largest decline over 1 year	-13.66%	-9.18%	-4.48%
Max Drawdown (5Y) Largest decline over 5 years	-29.26%	-25.26%	-4.00%
Max Drawdown (10Y) Largest decline over 10 years	-39.27%	-36.07%	-3.20%
Current Drawdown Current decline from peak	-5.69%	-2.72%	-2.97%
Average Drawdown Average peak-to-trough decline	-8.08%	-10.26%	+2.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.18%	3.82%	-0.64%

Volatility

MDYG vs. XLU - Volatility Comparison

SPDR S&P 400 Mid Cap Growth ETF (MDYG) has a higher volatility of 7.89% compared to Utilities Select Sector SPDR Fund (XLU) at 5.09%. This indicates that MDYG's price experiences larger fluctuations and is considered to be riskier than XLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDYG	XLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.89%	5.09%	+2.80%
Volatility (6M) Calculated over the trailing 6-month period	13.31%	10.36%	+2.95%
Volatility (1Y) Calculated over the trailing 1-year period	22.21%	15.79%	+6.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.55%	17.18%	+3.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.99%	19.21%	+1.78%