MDYV vs. FRSGX

Last updated Jun 4, 2026

MDYV (SPDR S&P 400 Mid Cap Value ETF) and FRSGX (Franklin Small-Mid Cap Growth Fund) are both funds - MDYV is a Mid Cap Value Equities fund tracking the S&P MidCap 400 Value Index, while FRSGX is a Mid Cap Growth Equities fund managed by Franklin Templeton. Over the past 10 years, MDYV returned 10.40%/yr vs 14.29%/yr for FRSGX. A 0.73 correlation means they provide meaningful diversification when combined. MDYV charges 0.15%/yr vs 0.85%/yr for FRSGX.

Performance

MDYV vs. FRSGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P 400 Mid Cap Value ETF (MDYV) and Franklin Small-Mid Cap Growth Fund (FRSGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MDYV achieves a 9.04% return, which is significantly higher than FRSGX's 7.23% return. Over the past 10 years, MDYV has underperformed FRSGX with an annualized return of 10.40%, while FRSGX has yielded a comparatively higher 14.29% annualized return.

MDYV

• 1D: -0.38%
• 1M: 1.78%
• YTD: 9.04%
• 6M: 9.24%
• 1Y: 20.68%
• 3Y*: 13.90%
• 5Y*: 7.48%
• 10Y*: 10.40%

FRSGX

• 1D: -0.27%
• 1M: 5.25%
• YTD: 7.23%
• 6M: 5.91%
• 1Y: 8.99%
• 3Y*: 12.26%
• 5Y*: 9.04%
• 10Y*: 14.29%

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

MDYV vs. FRSGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDYV SPDR S&P 400 Mid Cap Value ETF	9.04%	7.45%	11.48%	15.35%	-7.19%	30.51%	3.68%	25.89%	-11.95%	12.31%
FRSGX Franklin Small-Mid Cap Growth Fund	7.23%	2.83%	11.36%	27.20%	-33.84%	50.07%	56.09%	31.98%	-4.94%	21.64%

Correlation

The correlation between MDYV and FRSGX is 0.69, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Nov 16, 2005	0.73

The correlation between MDYV and FRSGX has been stable across timeframes, ranging from 0.69 to 0.76 - a consistent structural relationship.

Return for Risk

MDYV vs. FRSGX — Risk / Return Rank

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

MDYV

MDYV Risk / Return Rank: 39
MDYV Sharpe Ratio Rank: 38
MDYV Sortino Ratio Rank: 40
MDYV Omega Ratio Rank: 36
MDYV Calmar Ratio Rank: 40
MDYV Martin Ratio Rank: 42

FRSGX

FRSGX Risk / Return Rank: 8
FRSGX Sharpe Ratio Rank: 8
FRSGX Sortino Ratio Rank: 8
FRSGX Omega Ratio Rank: 7
FRSGX Calmar Ratio Rank: 8
FRSGX Martin Ratio Rank: 8

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.

MDYV vs. FRSGX - 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 Franklin Small-Mid Cap Growth Fund (FRSGX). 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.

	MDYV	FRSGX	Difference
Sharpe ratio: Return per unit of total volatility	1.37	0.63	+0.74
Sortino ratio: Return per unit of downside risk	2.07	0.99	+1.08
Omega ratio: Gain probability vs. loss probability	1.24	1.11	+0.13
Calmar ratio: Return relative to maximum drawdown	1.97	0.81	+1.16
Martin ratio: Return relative to average drawdown	6.78	2.50	+4.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MDYV vs. FRSGX - Sharpe Ratio Comparison

The current MDYV Sharpe Ratio is 1.37, which is higher than the FRSGX Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of MDYV and FRSGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MDYV	FRSGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.37	0.63	+0.74
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.39	0.32	+0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.57	-0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.49	-0.07

Drawdowns

MDYV vs. FRSGX - Drawdown Comparison

The maximum MDYV drawdown since its inception was -60.71%, smaller than the maximum FRSGX drawdown of -69.07%. Use the drawdown chart below to compare losses from any high point for MDYV and FRSGX.

Drawdown Indicators

	MDYV	FRSGX	Difference
Max Drawdown Largest peak-to-trough decline	-60.71%	-69.07%	+8.36%
Max Drawdown (1Y) Largest decline over 1 year	-10.53%	-12.39%	+1.86%
Max Drawdown (3Y) Largest decline over 3 years	-22.58%	-25.77%	+3.19%
Max Drawdown (5Y) Largest decline over 5 years	-22.58%	-39.25%	+16.67%
Max Drawdown (10Y) Largest decline over 10 years	-45.90%	-39.25%	-6.65%
Current Drawdown Current decline from peak	-0.38%	-0.27%	-0.11%
Average Drawdown Average peak-to-trough decline	-8.62%	-18.70%	+10.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.06%	4.01%	-0.95%

Volatility

MDYV vs. FRSGX - Volatility Comparison

SPDR S&P 400 Mid Cap Value ETF (MDYV) has a higher volatility of 3.93% compared to Franklin Small-Mid Cap Growth Fund (FRSGX) at 3.65%. This indicates that MDYV's price experiences larger fluctuations and is considered to be riskier than FRSGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDYV	FRSGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.93%	3.65%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	10.56%	12.39%	-1.83%
Volatility (1Y) Calculated over the trailing 1-year period	15.25%	15.92%	-0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.50%	28.37%	-8.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.90%	25.07%	-3.17%

MDYV vs. FRSGX - Expense Ratio Comparison

MDYV has a 0.15% expense ratio, which is lower than FRSGX's 0.85% expense ratio.

Dividends

MDYV vs. FRSGX - Dividend Comparison

MDYV's dividend yield for the trailing twelve months is around 1.73%, less than FRSGX's 7.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FRSGX Franklin Small-Mid Cap Growth Fund	7.61%	8.16%	0.00%	0.00%	6.80%	41.15%	8.84%	18.91%	14.01%	8.78%	6.68%	9.71%
MDYV SPDR S&P 400 Mid Cap Value ETF	1.73%	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

Can I hold both MDYV and FRSGX in my portfolio?

MDYV and FRSGX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MDYV or FRSGX?

MDYV has higher volatility (3.93%) compared to FRSGX (3.65%). In terms of maximum drawdown, MDYV dropped -60.71% vs FRSGX's -69.07%.

Which has better risk-adjusted returns?

MDYV currently has the higher Sharpe Ratio (1.37 vs 0.63), 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.