MERDX vs. SPY
Compare and contrast key facts about Meridian Growth Fund (MERDX) and State Street SPDR S&P 500 ETF (SPY).
MERDX is managed by Meridian. It was launched on Aug 1, 1984. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
MERDX vs. SPY - Performance Comparison
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MERDX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MERDX Meridian Growth Fund | -10.55% | -6.25% | 6.42% | 15.29% | -29.13% | 15.58% | 24.93% | 27.67% | -7.30% | 25.64% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, MERDX achieves a -10.55% return, which is significantly lower than SPY's -4.37% return. Over the past 10 years, MERDX has underperformed SPY with an annualized return of 5.88%, while SPY has yielded a comparatively higher 13.98% annualized return.
MERDX
- 1D
- -1.13%
- 1M
- -9.36%
- YTD
- -10.55%
- 6M
- -10.85%
- 1Y
- -8.85%
- 3Y*
- -2.55%
- 5Y*
- -5.02%
- 10Y*
- 5.88%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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MERDX vs. SPY - Expense Ratio Comparison
MERDX has a 0.85% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
MERDX vs. SPY — Risk / Return Rank
MERDX
SPY
MERDX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Meridian Growth Fund (MERDX) and State Street SPDR S&P 500 ETF (SPY). 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.
| MERDX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.48 | 0.93 | -1.41 |
Sortino ratioReturn per unit of downside risk | -0.56 | 1.45 | -2.01 |
Omega ratioGain probability vs. loss probability | 0.93 | 1.22 | -0.29 |
Calmar ratioReturn relative to maximum drawdown | -0.48 | 1.53 | -2.01 |
Martin ratioReturn relative to average drawdown | -1.37 | 7.30 | -8.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MERDX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.48 | 0.93 | -1.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.24 | 0.69 | -0.93 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.78 | -0.50 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.56 | -0.13 |
Correlation
The correlation between MERDX and SPY is 0.80, 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
MERDX vs. SPY - Dividend Comparison
MERDX's dividend yield for the trailing twelve months is around 10.09%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MERDX Meridian Growth Fund | 10.09% | 9.03% | 0.24% | 0.00% | 13.80% | 15.49% | 0.88% | 9.15% | 16.44% | 7.07% | 0.57% | 12.17% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
MERDX vs. SPY - Drawdown Comparison
The maximum MERDX drawdown since its inception was -48.45%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for MERDX and SPY.
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Drawdown Indicators
| MERDX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.45% | -55.19% | +6.74% |
Max Drawdown (1Y)Largest decline over 1 year | -14.50% | -12.05% | -2.45% |
Max Drawdown (5Y)Largest decline over 5 years | -37.93% | -24.50% | -13.43% |
Max Drawdown (10Y)Largest decline over 10 years | -40.64% | -33.72% | -6.92% |
Current DrawdownCurrent decline from peak | -32.68% | -6.24% | -26.44% |
Average DrawdownAverage peak-to-trough decline | -10.22% | -9.09% | -1.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.67% | 2.52% | +3.15% |
Volatility
MERDX vs. SPY - Volatility Comparison
Meridian Growth Fund (MERDX) has a higher volatility of 5.71% compared to State Street SPDR S&P 500 ETF (SPY) at 5.31%. This indicates that MERDX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MERDX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.71% | 5.31% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 12.04% | 9.47% | +2.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.35% | 19.05% | +4.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.37% | 17.06% | +4.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.27% | 17.92% | +3.35% |