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MDYV vs. RWK
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MDYV vs. RWK

Last updated Jul 17, 2026
Documentation

MDYV (SPDR S&P 400 Mid Cap Value ETF) and RWK (Invesco S&P MidCap 400 Revenue ETF) are both exchange-traded funds - MDYV is a Mid Cap Value Equities fund tracking the S&P MidCap 400 Value Index, while RWK is a Small Cap Blend Equities fund tracking the S&P MidCap 400 Revenue-Weighted Index. Both are passively managed. Over the past 10 years, MDYV returned 10.58%/yr vs 12.91%/yr for RWK. Their correlation of 0.89 suggests significant overlap in exposure. MDYV charges 0.15%/yr vs 0.39%/yr for RWK.

Performance

MDYV vs. RWK - 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 Invesco S&P MidCap 400 Revenue ETF (RWK). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MDYV achieves a 14.30% return, which is significantly lower than RWK's 18.42% return. Over the past 10 years, MDYV has underperformed RWK with an annualized return of 10.58%, while RWK has yielded a comparatively higher 12.91% annualized return.

MDYV

1D
1.42%
1M
2.14%
6M
7.96%
YTD
14.30%
1Y
20.82%
3Y*
12.81%
5Y*
9.94%
10Y*
10.58%

RWK

1D
1.26%
1M
2.35%
6M
11.45%
YTD
18.42%
1Y
25.29%
3Y*
16.21%
5Y*
13.12%
10Y*
12.91%
*Multi-year figures are annualized to reflect compound growth (CAGR)

MDYV vs. RWK - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MDYV
SPDR S&P 400 Mid Cap Value ETF		14.30%7.45%11.48%15.35%-7.19%30.51%3.68%25.89%-11.95%12.31%
RWK
Invesco S&P MidCap 400 Revenue ETF		18.42%10.27%11.94%23.76%-8.19%34.31%11.06%28.20%-14.65%13.39%

Correlation

The correlation between MDYV and RWK is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.95

Correlation (3Y)
Calculated over the trailing 3-year period

0.96

Correlation (5Y)
Calculated over the trailing 5-year period

0.97

Correlation (10Y)
Calculated over the trailing 10-year period

0.97

Correlation (All Time)
Calculated using the full available price history since Feb 22, 2008

0.89

The correlation between MDYV and RWK has been stable across timeframes, ranging from 0.89 to 0.97 - a consistent structural relationship.

MDYV vs. RWK - Sectors Allocation Comparison

Sectors
MDYV
RWK

Financial Services

21.4%
12.1%

Industrials

18.7%
22.1%

Consumer Cyclical

13.9%
20.4%

Technology

10.2%
16.1%

Real Estate

9.6%
2.6%

Energy

6.8%
5.0%

Basic Materials

6.3%
4.9%

Consumer Defensive

4.9%
10.4%

Utilities

4.0%
1.6%

Healthcare

3.8%
4.2%

Communication Services

0.5%
0.7%

Financial Services

MDYV
21.4%
RWK
12.1%

Industrials

MDYV
18.7%
RWK
22.1%

Consumer Cyclical

MDYV
13.9%
RWK
20.4%

Technology

MDYV
10.2%
RWK
16.1%

Real Estate

MDYV
9.6%
RWK
2.6%

Energy

MDYV
6.8%
RWK
5.0%

Basic Materials

MDYV
6.3%
RWK
4.9%

Consumer Defensive

MDYV
4.9%
RWK
10.4%

Utilities

MDYV
4.0%
RWK
1.6%

Healthcare

MDYV
3.8%
RWK
4.2%

Communication Services

MDYV
0.5%
RWK
0.7%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR S&P 400 Mid Cap Value ETF

Invesco S&P MidCap 400 Revenue ETF

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Often compared with RWK:
RWK vs. RWJRWK vs. RFVRWK vs. XMHQRWK vs. XMVMRWK vs. PRNRWK vs. ONEYRWK vs. PRFZ

Return for Risk

MDYV vs. RWK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MDYV
MDYV Risk / Return Rank: 5050
Overall Rank
MDYV Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
MDYV Sortino Ratio Rank: 5353
Sortino Ratio Rank
MDYV Omega Ratio Rank: 4747
Omega Ratio Rank
MDYV Calmar Ratio Rank: 4949
Calmar Ratio Rank
MDYV Martin Ratio Rank: 5050
Martin Ratio Rank
RWK
RWK Risk / Return Rank: 5757
Overall Rank
RWK Sharpe Ratio Rank: 5757
Sharpe Ratio Rank
RWK Sortino Ratio Rank: 6363
Sortino Ratio Rank
RWK Omega Ratio Rank: 5454
Omega Ratio Rank
RWK Calmar Ratio Rank: 5757
Calmar Ratio Rank
RWK Martin Ratio Rank: 5454
Martin Ratio Rank
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. RWK - 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 Invesco S&P MidCap 400 Revenue ETF (RWK). 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.

MDYVRWKDifference
Sharpe ratioReturn per unit of total volatility
1.39
1.55

-0.16

Sortino ratioReturn per unit of downside risk
2.11
2.35

-0.24

Omega ratioGain probability vs. loss probability

1.25

1.27

-0.03

Calmar ratioReturn relative to maximum drawdown

1.99

2.28

-0.29

Martin ratioReturn relative to average drawdown

6.85

7.36

-0.51

MDYV vs. RWK - Sharpe Ratio Comparison

The current MDYV Sharpe Ratio is 1.39, which is comparable to the RWK Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of MDYV and RWK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

MDYV vs. RWK - Drawdown Comparison

The maximum MDYV drawdown since its inception was -60.71%, which is greater than RWK's maximum drawdown of -56.49%. Use the drawdown chart below to compare losses from any high point for MDYV and RWK.

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Drawdown Indicators

MDYVRWKDifference

Max Drawdown

Largest peak-to-trough decline

-60.71%

-56.49%

-4.22%

Max Drawdown (1Y)

Largest decline over 1 year

-10.53%

-11.14%

+0.61%

Max Drawdown (3Y)

Largest decline over 3 years

-22.58%

-24.58%

+2.00%

Max Drawdown (5Y)

Largest decline over 5 years

-22.58%

-24.58%

+2.00%

Max Drawdown (10Y)

Largest decline over 10 years

-45.90%

-46.20%

+0.30%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-8.58%

-7.51%

-1.07%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.05%

3.44%

-0.39%

Volatility

MDYV vs. RWK - Volatility Comparison

SPDR S&P 400 Mid Cap Value ETF (MDYV) and Invesco S&P MidCap 400 Revenue ETF (RWK) have volatilities of 3.38% and 3.36%, 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.

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Volatility by Period

MDYVRWKDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.38%

3.36%

+0.02%

Volatility (6M)

Calculated over the trailing 6-month period

10.58%

11.92%

-1.34%

Volatility (1Y)

Calculated over the trailing 1-year period

15.07%

16.42%

-1.35%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.37%

21.00%

-1.63%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.83%

22.87%

-1.04%

MDYV vs. RWK - Expense Ratio Comparison

MDYV has a 0.15% expense ratio, which is lower than RWK's 0.39% expense ratio.

Dividends

MDYV vs. RWK - Dividend Comparison

MDYV's dividend yield for the trailing twelve months is around 1.66%, more than RWK's 1.00% yield.

PositionTTM20252024202320222021202020192018201720162015
MDYV
SPDR S&P 400 Mid Cap Value ETF		1.66%1.72%1.89%1.59%1.90%1.74%1.69%1.83%2.28%2.48%1.83%4.31%
RWK
Invesco S&P MidCap 400 Revenue ETF		1.00%1.25%1.11%1.05%1.18%0.85%0.96%1.09%1.22%0.99%1.30%0.92%

Frequently Asked Questions

With a correlation of 0.95, MDYV and RWK move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

MDYV has higher volatility (3.38%) compared to RWK (3.36%). In terms of maximum drawdown, MDYV dropped -60.71% vs RWK's -56.49%.

On 10-year performance, RWK leads with 12.91% vs 10.58% for MDYV. On fees, MDYV is cheaper at 0.15% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, RWK has performed better with a 12.91% return vs 10.58%. 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 0.39% for RWK.

MDYV has the higher dividend yield at 1.66%, compared with 1.00% for RWK.

MDYV is categorized as Mid Cap Value Equities, while RWK is Small Cap Blend Equities. MDYV tracks S&P MidCap 400 Value Index, while RWK tracks S&P MidCap 400 Revenue-Weighted Index. They also come from different issuers: State Street and Invesco. Their fees differ too: 0.15% for MDYV and 0.39% for RWK.

RWK currently has the higher Sharpe Ratio (1.55 vs 1.39), 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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