MVV vs. MDY
Compare and contrast key facts about ProShares Ultra Midcap 400 (MVV) and SPDR S&P MidCap 400 ETF (MDY).
MVV and MDY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MVV is a passively managed fund by ProShares that tracks the performance of the S&P MidCap 400 Index (200%). It was launched on Jun 21, 2006. MDY is a passively managed fund by State Street that tracks the performance of the S&P MidCap 400 Index. It was launched on May 4, 1995. Both MVV and MDY 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
MVV vs. MDY - Performance Comparison
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MVV vs. MDY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MVV ProShares Ultra Midcap 400 | 4.75% | 3.48% | 17.75% | 22.51% | -31.96% | 48.57% | 6.20% | 49.50% | -25.44% | 30.81% |
MDY SPDR S&P MidCap 400 ETF | 3.32% | 7.19% | 13.64% | 16.07% | -13.28% | 24.53% | 13.50% | 25.78% | -11.29% | 15.93% |
Returns By Period
In the year-to-date period, MVV achieves a 4.75% return, which is significantly higher than MDY's 3.32% return. Over the past 10 years, MVV has outperformed MDY with an annualized return of 12.30%, while MDY has yielded a comparatively lower 10.34% annualized return.
MVV
- 1D
- 1.73%
- 1M
- -11.15%
- YTD
- 4.75%
- 6M
- 5.31%
- 1Y
- 24.57%
- 3Y*
- 14.18%
- 5Y*
- 3.91%
- 10Y*
- 12.30%
MDY
- 1D
- 0.82%
- 1M
- -5.32%
- YTD
- 3.32%
- 6M
- 4.62%
- 1Y
- 17.32%
- 3Y*
- 12.06%
- 5Y*
- 6.51%
- 10Y*
- 10.34%
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MVV vs. MDY - Expense Ratio Comparison
MVV has a 0.95% expense ratio, which is higher than MDY's 0.23% expense ratio.
Return for Risk
MVV vs. MDY — Risk / Return Rank
MVV
MDY
MVV vs. MDY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Ultra Midcap 400 (MVV) and SPDR S&P MidCap 400 ETF (MDY). 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.
| MVV | MDY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.57 | 0.82 | -0.25 |
Sortino ratioReturn per unit of downside risk | 1.09 | 1.30 | -0.21 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.18 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | 0.97 | 1.28 | -0.31 |
Martin ratioReturn relative to average drawdown | 3.72 | 5.46 | -1.74 |
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
| MVV | MDY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.57 | 0.82 | -0.25 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.10 | 0.33 | -0.23 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.29 | 0.49 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.24 | 0.51 | -0.28 |
Correlation
The correlation between MVV and MDY is 0.99, 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
MVV vs. MDY - Dividend Comparison
MVV's dividend yield for the trailing twelve months is around 0.81%, less than MDY's 1.15% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MVV ProShares Ultra Midcap 400 | 0.81% | 0.77% | 0.39% | 0.77% | 0.93% | 0.16% | 0.29% | 0.62% | 0.62% | 0.21% | 0.43% | 0.17% |
MDY SPDR S&P MidCap 400 ETF | 1.15% | 1.15% | 1.18% | 1.21% | 1.37% | 0.96% | 1.12% | 1.34% | 1.39% | 1.18% | 1.31% | 1.35% |
Drawdowns
MVV vs. MDY - Drawdown Comparison
The maximum MVV drawdown since its inception was -85.54%, which is greater than MDY's maximum drawdown of -55.33%. Use the drawdown chart below to compare losses from any high point for MVV and MDY.
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Drawdown Indicators
| MVV | MDY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -85.54% | -55.33% | -30.21% |
Max Drawdown (1Y)Largest decline over 1 year | -26.85% | -14.07% | -12.78% |
Max Drawdown (5Y)Largest decline over 5 years | -45.53% | -24.03% | -21.50% |
Max Drawdown (10Y)Largest decline over 10 years | -69.19% | -42.22% | -26.97% |
Current DrawdownCurrent decline from peak | -11.34% | -5.36% | -5.98% |
Average DrawdownAverage peak-to-trough decline | -20.70% | -7.06% | -13.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.97% | 3.29% | +3.68% |
Volatility
MVV vs. MDY - Volatility Comparison
ProShares Ultra Midcap 400 (MVV) has a higher volatility of 12.99% compared to SPDR S&P MidCap 400 ETF (MDY) at 6.42%. This indicates that MVV's price experiences larger fluctuations and is considered to be riskier than MDY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MVV | MDY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.99% | 6.42% | +6.57% |
Volatility (6M)Calculated over the trailing 6-month period | 24.02% | 11.89% | +12.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.30% | 21.11% | +22.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.66% | 19.78% | +19.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.32% | 21.17% | +21.15% |