MDYV vs. DVLU
MDYV (SPDR S&P 400 Mid Cap Value ETF) and DVLU (First Trust Dorsey Wright Momentum & Value ETF) are both exchange-traded funds - MDYV is a Mid Cap Value Equities fund tracking the S&P MidCap 400 Value Index, while DVLU is a Momentum fund tracking the Dorsey Wright Momentum Plus Value Index. Both are passively managed. Over the past 5 years, MDYV returned 8.38%/yr vs 12.25%/yr for DVLU. Their correlation of 0.85 suggests significant overlap in exposure. MDYV charges 0.15%/yr vs 0.60%/yr for DVLU.
Performance
MDYV vs. DVLU - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with MDYV having a 10.67% return and DVLU slightly higher at 10.79%.
MDYV
- 1D
- -0.38%
- 1M
- 2.88%
- YTD
- 10.67%
- 6M
- 9.08%
- 1Y
- 20.54%
- 3Y*
- 14.24%
- 5Y*
- 8.38%
- 10Y*
- 10.80%
DVLU
- 1D
- 0.30%
- 1M
- 4.14%
- YTD
- 10.79%
- 6M
- 8.85%
- 1Y
- 36.17%
- 3Y*
- 21.46%
- 5Y*
- 12.25%
- 10Y*
- —
MDYV vs. DVLU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MDYV SPDR S&P 400 Mid Cap Value ETF | 10.67% | 7.45% | 11.48% | 15.35% | -7.19% | 30.51% | 3.68% | 25.89% | -17.03% |
DVLU First Trust Dorsey Wright Momentum & Value ETF | 10.79% | 23.67% | 13.36% | 18.84% | -9.73% | 41.67% | -6.68% | 33.59% | -24.03% |
Correlation
The correlation between MDYV and DVLU is 0.81, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Sep 7, 2018 | 0.85 |
The correlation between MDYV and DVLU has been stable across timeframes, ranging from 0.81 to 0.88 - a consistent structural relationship.
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Return for Risk
MDYV vs. DVLU — Risk / Return Rank
MDYV
DVLU
MDYV vs. DVLU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 400 Mid Cap Value ETF (MDYV) and First Trust Dorsey Wright Momentum & Value ETF (DVLU). 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.
| MDYV | DVLU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.87 | ||
| Sortino ratioReturn per unit of downside risk | -1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.38 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 2.97 | -1.01 |
| Martin ratioReturn relative to average drawdown | 6.75 | 10.71 | -3.96 |
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Drawdowns
MDYV vs. DVLU - Drawdown Comparison
The maximum MDYV drawdown since its inception was -60.71%, which is greater than DVLU's maximum drawdown of -53.26%. Use the drawdown chart below to compare losses from any high point for MDYV and DVLU.
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Drawdown Indicators
| MDYV | DVLU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.71% | -53.26% | -7.45% |
Max Drawdown (1Y)Largest decline over 1 year | -10.53% | -12.24% | +1.71% |
Max Drawdown (3Y)Largest decline over 3 years | -22.58% | -24.86% | +2.28% |
Max Drawdown (5Y)Largest decline over 5 years | -22.58% | -24.86% | +2.28% |
Max Drawdown (10Y)Largest decline over 10 years | -45.90% | — | — |
Current DrawdownCurrent decline from peak | -1.18% | -0.65% | -0.53% |
Average DrawdownAverage peak-to-trough decline | -8.60% | -8.73% | +0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.05% | 3.39% | -0.34% |
Volatility
MDYV vs. DVLU - Volatility Comparison
SPDR S&P 400 Mid Cap Value ETF (MDYV) has a higher volatility of 3.91% compared to First Trust Dorsey Wright Momentum & Value ETF (DVLU) at 3.70%. This indicates that MDYV's price experiences larger fluctuations and is considered to be riskier than DVLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MDYV | DVLU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.91% | 3.70% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 10.72% | 12.34% | -1.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.36% | 16.43% | -1.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.45% | 21.39% | -1.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.88% | 25.73% | -3.85% |
MDYV vs. DVLU - Expense Ratio Comparison
MDYV has a 0.15% expense ratio, which is lower than DVLU's 0.60% expense ratio.
Dividends
MDYV vs. DVLU - Dividend Comparison
MDYV's dividend yield for the trailing twelve months is around 1.71%, more than DVLU's 0.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DVLU First Trust Dorsey Wright Momentum & Value ETF | 0.62% | 0.73% | 1.06% | 1.34% | 2.18% | 1.33% | 1.34% | 1.71% | 0.58% | 0.00% | 0.00% | 0.00% |
MDYV SPDR S&P 400 Mid Cap Value ETF | 1.71% | 1.72% | 1.89% | 1.59% | 1.90% | 1.74% | 1.69% | 1.83% | 2.28% | 2.48% | 1.83% | 4.31% |
Frequently Asked Questions
MDYV and DVLU have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MDYV has higher volatility (3.91%) compared to DVLU (3.70%). In terms of maximum drawdown, MDYV dropped -60.71% vs DVLU's -53.26%.
On 5-year performance, DVLU leads with 12.25% vs 8.38% for MDYV. On fees, MDYV is cheaper at 0.15% per year. On volatility, DVLU has been the lower-risk option at 3.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DVLU has performed better with a 12.25% return vs 8.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MDYV is cheaper with a 0.15% expense ratio, compared with 0.60% for DVLU.
MDYV has the higher dividend yield at 1.71%, compared with 0.62% for DVLU.
MDYV is categorized as Mid Cap Value Equities, while DVLU is Momentum. MDYV tracks S&P MidCap 400 Value Index, while DVLU tracks Dorsey Wright Momentum Plus Value Index. They also come from different issuers: State Street and First Trust. Their fees differ too: 0.15% for MDYV and 0.60% for DVLU.
DVLU currently has the higher Sharpe Ratio (2.22 vs 1.35), 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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