MGK vs. SPMD
MGK (Vanguard Mega Cap Growth ETF) and SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) are both exchange-traded funds - MGK is a Large Cap Growth Equities fund tracking the CRSP US Mega Cap Growth Index, while SPMD is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 Index. Both are passively managed. Over the past 10 years, MGK returned 18.85%/yr vs 11.78%/yr for SPMD. A 0.73 correlation means they provide meaningful diversification when combined. Both charge a 0.05% expense ratio.
Performance
MGK vs. SPMD - Performance Comparison
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Returns By Period
In the year-to-date period, MGK achieves a 5.33% return, which is significantly lower than SPMD's 15.51% return. Over the past 10 years, MGK has outperformed SPMD with an annualized return of 18.85%, while SPMD has yielded a comparatively lower 11.78% annualized return.
MGK
- 1D
- 0.22%
- 1M
- -1.87%
- YTD
- 5.33%
- 6M
- 6.21%
- 1Y
- 24.77%
- 3Y*
- 24.17%
- 5Y*
- 14.87%
- 10Y*
- 18.85%
SPMD
- 1D
- 0.73%
- 1M
- 5.31%
- YTD
- 15.51%
- 6M
- 14.03%
- 1Y
- 27.96%
- 3Y*
- 15.42%
- 5Y*
- 8.28%
- 10Y*
- 11.78%
MGK vs. SPMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGK Vanguard Mega Cap Growth ETF | 5.33% | 20.67% | 32.94% | 51.67% | -33.59% | 28.58% | 41.01% | 37.38% | -2.91% | 29.49% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 15.51% | 7.44% | 13.91% | 16.48% | -13.13% | 24.76% | 13.46% | 25.19% | -10.34% | 15.12% |
Correlation
The correlation between MGK and SPMD is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Dec 27, 2007 | 0.73 |
The correlation between MGK and SPMD shifts across timeframes, from 0.54 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MGK vs. SPMD — Risk / Return Rank
MGK
SPMD
MGK vs. SPMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Mega Cap Growth ETF (MGK) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD). 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.
| MGK | SPMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.29 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.37 | 2.95 | -1.57 |
| Martin ratioReturn relative to average drawdown | 4.65 | 10.81 | -6.16 |
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Drawdowns
MGK vs. SPMD - Drawdown Comparison
The maximum MGK drawdown since its inception was -48.43%, smaller than the maximum SPMD drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for MGK and SPMD.
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Drawdown Indicators
| MGK | SPMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -48.43% | -57.62% | +9.19% |
Max Drawdown (1Y)Largest decline over 1 year | -16.85% | -8.86% | -7.99% |
Max Drawdown (3Y)Largest decline over 3 years | -23.36% | -24.08% | +0.72% |
Max Drawdown (5Y)Largest decline over 5 years | -36.01% | -24.08% | -11.93% |
Max Drawdown (10Y)Largest decline over 10 years | -36.01% | -41.86% | +5.85% |
Current DrawdownCurrent decline from peak | -5.63% | 0.00% | -5.63% |
Average DrawdownAverage peak-to-trough decline | -7.58% | -8.11% | +0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.97% | 2.41% | +2.56% |
Volatility
MGK vs. SPMD - Volatility Comparison
Vanguard Mega Cap Growth ETF (MGK) has a higher volatility of 5.96% compared to SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) at 5.07%. This indicates that MGK's price experiences larger fluctuations and is considered to be riskier than SPMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGK | SPMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.96% | 5.07% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 13.29% | 11.77% | +1.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.87% | 15.91% | +0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.72% | 19.75% | +2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.93% | 21.20% | +0.73% |
MGK vs. SPMD - Expense Ratio Comparison
Both MGK and SPMD have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
MGK vs. SPMD - Dividend Comparison
MGK's dividend yield for the trailing twelve months is around 0.33%, less than SPMD's 1.21% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGK Vanguard Mega Cap Growth ETF | 0.33% | 0.35% | 0.43% | 0.50% | 0.70% | 0.41% | 0.65% | 0.85% | 1.12% | 1.23% | 1.53% | 1.43% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 1.21% | 1.39% | 1.42% | 1.47% | 1.64% | 1.24% | 1.30% | 1.57% | 1.85% | 1.97% | 2.13% | 5.33% |
Frequently Asked Questions
MGK and SPMD have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGK has higher volatility (5.96%) compared to SPMD (5.07%). In terms of maximum drawdown, MGK dropped -48.43% vs SPMD's -57.62%.
On 10-year performance, MGK leads with 18.85% vs 11.78% for SPMD. Both ETFs have the same 0.05% expense ratio. On volatility, SPMD has been the lower-risk option at 5.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MGK has performed better with a 18.85% return vs 11.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MGK and SPMD have the same expense ratio: 0.05% per year.
SPMD has the higher dividend yield at 1.21%, compared with 0.33% for MGK.
MGK is categorized as Large Cap Growth Equities, while SPMD is Mid Cap Blend Equities. MGK tracks CRSP US Mega Cap Growth Index, while SPMD tracks S&P MidCap 400 Index. They also come from different issuers: Vanguard and State Street.
SPMD currently has the higher Sharpe Ratio (1.64 vs 1.37), 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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