MSTI vs. DDV

Last updated Jun 24, 2026

MSTI (Madison Short-Term Strategic Income ETF) and DDV (Defined Duration 5 ETF) are both exchange-traded funds - MSTI is a Short-Term Bond fund actively managed by Madison, while DDV is a Intermediate Core Bond fund actively managed by Discipline Funds. Both are actively managed. A 0.61 correlation means they provide meaningful diversification when combined. MSTI charges 0.40%/yr vs 0.25%/yr for DDV.

Performance

MSTI vs. DDV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Short-Term Strategic Income ETF (MSTI) and Defined Duration 5 ETF (DDV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSTI achieves a 0.73% return, which is significantly lower than DDV's 2.12% return.

MSTI

• 1D: 0.10%
• 1M: 0.34%
• YTD: 0.73%
• 6M: 0.94%
• 1Y: 3.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DDV

• 1D: -0.30%
• 1M: 0.20%
• YTD: 2.12%
• 6M: 2.22%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSTI vs. DDV - Yearly Performance Comparison

	2026 (YTD)	2025
MSTI Madison Short-Term Strategic Income ETF	0.73%	0.77%
DDV Defined Duration 5 ETF	2.12%	0.47%

Correlation

The correlation between MSTI and DDV is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 13, 2025	0.61

Return for Risk

MSTI vs. DDV — Risk / Return Rank

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

MSTI

MSTI Risk / Return Rank: 54
MSTI Sharpe Ratio Rank: 46
MSTI Sortino Ratio Rank: 48
MSTI Omega Ratio Rank: 50
MSTI Calmar Ratio Rank: 60
MSTI Martin Ratio Rank: 66

DDV

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

MSTI vs. DDV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Short-Term Strategic Income ETF (MSTI) and Defined Duration 5 ETF (DDV). 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.

	MSTI	DDV	Difference
Sharpe ratio: Return per unit of total volatility	1.50	—	—
Sortino ratio: Return per unit of downside risk	2.24	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	2.77	—	—
Martin ratio: Return relative to average drawdown	11.20	—	—

Drawdowns

MSTI vs. DDV - Drawdown Comparison

The maximum MSTI drawdown since its inception was -1.48%, smaller than the maximum DDV drawdown of -1.92%. Use the drawdown chart below to compare losses from any high point for MSTI and DDV.

Drawdown Indicators

	MSTI	DDV	Difference
Max Drawdown Largest peak-to-trough decline	-1.48%	-1.92%	+0.44%
Max Drawdown (1Y) Largest decline over 1 year	-1.32%	—	—
Current Drawdown Current decline from peak	-0.23%	-0.32%	+0.09%
Average Drawdown Average peak-to-trough decline	-0.29%	-0.35%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	—	—

Volatility

Volatility by Period

	MSTI	DDV	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.49%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.64%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.45%	2.69%	-0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.70%	2.69%	+0.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.70%	2.69%	+0.01%

MSTI vs. DDV - Expense Ratio Comparison

MSTI has a 0.40% expense ratio, which is higher than DDV's 0.25% expense ratio.

Dividends

MSTI vs. DDV - Dividend Comparison

MSTI's dividend yield for the trailing twelve months is around 5.33%, more than DDV's 1.21% yield.

Position	TTM	2025	2024	2023
DDV Defined Duration 5 ETF	1.21%	0.42%	0.00%	0.00%
MSTI Madison Short-Term Strategic Income ETF	5.33%	5.40%	5.48%	1.55%

Frequently Asked Questions

Can I hold both MSTI and DDV in my portfolio?

MSTI and DDV have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSTI or DDV?

On fees, DDV is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSTI or DDV?

DDV is cheaper with a 0.25% expense ratio, compared with 0.40% for MSTI.

Which ETF pays a higher dividend yield, MSTI or DDV?

MSTI has the higher dividend yield at 5.33%, compared with 1.21% for DDV.

What is the main difference between MSTI and DDV?

MSTI is categorized as Short-Term Bond, while DDV is Intermediate Core Bond. They also come from different issuers: Madison and Discipline Funds. Their fees differ too: 0.40% for MSTI and 0.25% for DDV.