MYY vs. MDYG
MYY (ProShares Short S&P Mid Cap400) and MDYG (SPDR S&P 400 Mid Cap Growth ETF) are both exchange-traded funds - MYY is a Inverse Equities fund tracking the S&P Mid Cap 400 (-100%), while MDYG is a Mid Cap Growth Equities fund tracking the S&P MidCap 400 Growth Index. Both are passively managed. Over the past 10 years, MYY returned -10.79%/yr vs 11.05%/yr for MDYG. At a correlation of -0.94, they often move in opposite directions. MYY charges 0.95%/yr vs 0.15%/yr for MDYG.
Performance
MYY vs. MDYG - Performance Comparison
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Returns By Period
In the year-to-date period, MYY achieves a -11.03% return, which is significantly lower than MDYG's 16.88% return. Over the past 10 years, MYY has underperformed MDYG with an annualized return of -10.79%, while MDYG has yielded a comparatively higher 11.05% annualized return.
MYY
- 1D
- 0.53%
- 1M
- 1.24%
- 6M
- -6.84%
- YTD
- -11.03%
- 1Y
- -13.14%
- 3Y*
- -8.04%
- 5Y*
- -6.30%
- 10Y*
- -10.79%
MDYG
- 1D
- -0.99%
- 1M
- -1.67%
- 6M
- 11.16%
- YTD
- 16.88%
- 1Y
- 23.22%
- 3Y*
- 14.84%
- 5Y*
- 8.17%
- 10Y*
- 11.05%
MYY vs. MDYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MYY ProShares Short S&P Mid Cap400 | -11.03% | -4.05% | -7.08% | -9.46% | 10.23% | -23.04% | -25.94% | -19.98% | 12.79% | -14.63% |
MDYG SPDR S&P 400 Mid Cap Growth ETF | 16.88% | 7.22% | 15.84% | 17.30% | -18.92% | 18.46% | 22.57% | 26.10% | -10.46% | 19.61% |
Correlation
The correlation between MYY and MDYG is -0.96, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.98 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2006 | -0.94 |
The correlation between MYY and MDYG has been stable across timeframes, ranging from -0.98 to -0.94 - a consistent structural relationship.
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Return for Risk
MYY vs. MDYG — Risk / Return Rank
MYY
MDYG
MYY vs. MDYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Short S&P Mid Cap400 (MYY) and SPDR S&P 400 Mid Cap Growth ETF (MDYG). 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.
| MYY | MDYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.14 | ||
| Sortino ratioReturn per unit of downside risk | -3.02 | ||
| Omega ratioGain probability vs. loss probability | 0.87 | 1.23 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.72 | 2.35 | -3.08 |
| Martin ratioReturn relative to average drawdown | -1.36 | 9.17 | -10.53 |
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Drawdowns
MYY vs. MDYG - Drawdown Comparison
The maximum MYY drawdown since its inception was -95.20%, which is greater than MDYG's maximum drawdown of -58.44%. Use the drawdown chart below to compare losses from any high point for MYY and MDYG.
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Drawdown Indicators
| MYY | MDYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -95.20% | -58.44% | -36.76% |
Max Drawdown (1Y)Largest decline over 1 year | -18.25% | -9.91% | -8.34% |
Max Drawdown (3Y)Largest decline over 3 years | -35.14% | -25.45% | -9.69% |
Max Drawdown (5Y)Largest decline over 5 years | -37.79% | -29.26% | -8.53% |
Max Drawdown (10Y)Largest decline over 10 years | -71.93% | -39.27% | -32.66% |
Current DrawdownCurrent decline from peak | -95.07% | -3.88% | -91.19% |
Average DrawdownAverage peak-to-trough decline | -72.25% | -7.99% | -64.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.65% | 2.54% | +7.11% |
Volatility
MYY vs. MDYG - Volatility Comparison
The current volatility for ProShares Short S&P Mid Cap400 (MYY) is 4.22%, while SPDR S&P 400 Mid Cap Growth ETF (MDYG) has a volatility of 5.56%. This indicates that MYY experiences smaller price fluctuations and is considered to be less risky than MDYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MYY | MDYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.22% | 5.56% | -1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 11.69% | 14.00% | -2.31% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.83% | 17.86% | -2.03% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.60% | 20.74% | -1.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.21% | 21.06% | +0.15% |
MYY vs. MDYG - Expense Ratio Comparison
MYY has a 0.95% expense ratio, which is higher than MDYG's 0.15% expense ratio.
Dividends
MYY vs. MDYG - Dividend Comparison
MYY's dividend yield for the trailing twelve months is around 4.29%, more than MDYG's 0.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDYG SPDR S&P 400 Mid Cap Growth ETF | 0.59% | 0.75% | 0.87% | 1.20% | 1.16% | 0.69% | 0.71% | 1.21% | 1.36% | 2.23% | 1.25% | 2.51% |
MYY ProShares Short S&P Mid Cap400 | 4.29% | 4.20% | 4.92% | 5.08% | 0.40% | 0.00% | 0.05% | 1.52% | 0.34% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MYY and MDYG have a correlation of -0.96, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MDYG has higher volatility (5.56%) compared to MYY (4.22%). In terms of maximum drawdown, MYY dropped -95.20% vs MDYG's -58.44%.
On 10-year performance, MDYG leads with 11.05% vs -10.79% for MYY. On fees, MDYG is cheaper at 0.15% per year. On volatility, MYY has been the lower-risk option at 4.22%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MDYG has performed better with a 11.05% return vs -10.79%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
MDYG is cheaper with a 0.15% expense ratio, compared with 0.95% for MYY.
MYY has the higher dividend yield at 4.29%, compared with 0.59% for MDYG.
MYY is categorized as Inverse Equities, while MDYG is Mid Cap Growth Equities. MYY tracks S&P Mid Cap 400 (-100%), while MDYG tracks S&P MidCap 400 Growth Index. They also come from different issuers: ProShares and State Street. Their fees differ too: 0.95% for MYY and 0.15% for MDYG.
MDYG currently has the higher Sharpe Ratio (1.31 vs -0.83), 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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