MDYV vs. IVOV

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR S&P 400 Mid Cap Value ETF (MDYV) and Vanguard S&P Mid-Cap 400 Value ETF (IVOV).

MDYV and IVOV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MDYV is a passively managed fund by State Street that tracks the performance of the S&P MidCap 400 Value Index. It was launched on Nov 8, 2005. IVOV is a passively managed fund by Vanguard that tracks the performance of the S&P MidCap 400 Value Index. It was launched on Sep 7, 2010. Both MDYV and IVOV 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

MDYV vs. IVOV - 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 Vanguard S&P Mid-Cap 400 Value ETF (IVOV). The values are adjusted to include any dividend payments, if applicable.

MDYV vs. IVOV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDYV SPDR S&P 400 Mid Cap Value ETF	1.05%	7.45%	11.48%	15.35%	-7.19%	30.51%	3.68%	25.89%	-11.95%	12.31%
IVOV Vanguard S&P Mid-Cap 400 Value ETF	0.93%	7.61%	11.53%	15.38%	-7.20%	30.50%	3.70%	25.91%	-12.13%	12.22%

Returns By Period

In the year-to-date period, MDYV achieves a 1.05% return, which is significantly higher than IVOV's 0.93% return. Both investments have delivered pretty close results over the past 10 years, with MDYV having a 9.95% annualized return and IVOV not far ahead at 9.96%.

MDYV

• 1D: 2.37%
• 1M: -5.21%
• YTD: 1.05%
• 6M: 3.03%
• 1Y: 12.66%
• 3Y*: 10.86%
• 5Y*: 7.14%
• 10Y*: 9.95%

IVOV

• 1D: 2.36%
• 1M: -5.27%
• YTD: 0.93%
• 6M: 2.99%
• 1Y: 12.76%
• 3Y*: 10.87%
• 5Y*: 7.13%
• 10Y*: 9.96%

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

MDYV vs. IVOV - Expense Ratio Comparison

MDYV has a 0.15% expense ratio, which is higher than IVOV's 0.10% 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%.

MDYV

SPDR S&P 400 Mid Cap Value ETF

IVOV

Vanguard S&P Mid-Cap 400 Value ETF

Return for Risk

MDYV vs. IVOV — Risk / Return Rank

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

MDYV

MDYV Risk / Return Rank: 36
MDYV Sharpe Ratio Rank: 34
MDYV Sortino Ratio Rank: 36
MDYV Omega Ratio Rank: 35
MDYV Calmar Ratio Rank: 38
MDYV Martin Ratio Rank: 38

IVOV

IVOV Risk / Return Rank: 37
IVOV Sharpe Ratio Rank: 35
IVOV Sortino Ratio Rank: 38
IVOV Omega Ratio Rank: 35
IVOV Calmar Ratio Rank: 38
IVOV Martin Ratio Rank: 39

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. IVOV - 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 Vanguard S&P Mid-Cap 400 Value ETF (IVOV). 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	IVOV	Difference
Sharpe ratio Return per unit of total volatility	0.62	0.62	0.00
Sortino ratio Return per unit of downside risk	1.01	1.02	-0.01
Omega ratio Gain probability vs. loss probability	1.14	1.14	0.00
Calmar ratio Return relative to maximum drawdown	0.91	0.90	+0.01
Martin ratio Return relative to average drawdown	3.42	3.41	+0.01
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. IVOV - Sharpe Ratio Comparison

The current MDYV Sharpe Ratio is 0.62, which is comparable to the IVOV Sharpe Ratio of 0.62. The chart below compares the historical Sharpe Ratios of MDYV and IVOV, 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

	MDYV	IVOV	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.62	0.62	0.00
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.37	0.37	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.46	0.00
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.55	-0.16

Correlation

The correlation between MDYV and IVOV is 0.93, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MDYV vs. IVOV - Dividend Comparison

MDYV's dividend yield for the trailing twelve months is around 1.86%, more than IVOV's 1.81% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MDYV SPDR S&P 400 Mid Cap Value ETF	1.86%	1.72%	1.89%	1.59%	1.90%	1.74%	1.69%	1.83%	2.28%	2.48%	1.83%	4.31%
IVOV Vanguard S&P Mid-Cap 400 Value ETF	1.81%	1.82%	1.74%	1.52%	1.97%	1.78%	2.42%	1.75%	1.87%	1.55%	1.51%	1.66%

Drawdowns

MDYV vs. IVOV - Drawdown Comparison

The maximum MDYV drawdown since its inception was -60.71%, which is greater than IVOV's maximum drawdown of -45.99%. Use the drawdown chart below to compare losses from any high point for MDYV and IVOV.

Drawdown Indicators

	MDYV	IVOV	Difference
Max Drawdown Largest peak-to-trough decline	-60.71%	-45.99%	-14.72%
Max Drawdown (1Y) Largest decline over 1 year	-14.55%	-14.63%	+0.08%
Max Drawdown (5Y) Largest decline over 5 years	-22.58%	-22.61%	+0.03%
Max Drawdown (10Y) Largest decline over 10 years	-45.90%	-45.99%	+0.09%
Current Drawdown Current decline from peak	-7.55%	-7.64%	+0.09%
Average Drawdown Average peak-to-trough decline	-8.68%	-5.46%	-3.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.86%	3.86%	0.00%

Volatility

MDYV vs. IVOV - Volatility Comparison

SPDR S&P 400 Mid Cap Value ETF (MDYV) and Vanguard S&P Mid-Cap 400 Value ETF (IVOV) have volatilities of 5.35% and 5.32%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDYV	IVOV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.35%	5.32%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	11.43%	11.46%	-0.03%
Volatility (1Y) Calculated over the trailing 1-year period	20.68%	20.79%	-0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.57%	19.56%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.90%	21.73%	+0.17%