PWC vs. SPMD
Compare and contrast key facts about Invesco Dynamic Market ETF (PWC) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD).
PWC and SPMD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PWC is a passively managed fund by Invesco that tracks the performance of the Dynamic Market Intellidex Index. It was launched on May 1, 2003. SPMD is a passively managed fund by State Street that tracks the performance of the S&P MidCap 400 Index. It was launched on Nov 8, 2005. Both PWC and SPMD 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
PWC vs. SPMD - Performance Comparison
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PWC vs. SPMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PWC Invesco Dynamic Market ETF | 2.60% | 6.15% | 17.46% | 19.03% | -16.01% | 19.38% | 8.52% | 13.47% | -6.40% | 20.16% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 2.59% | 7.44% | 13.91% | 16.48% | -13.13% | 24.76% | 13.46% | 25.19% | -10.34% | 15.12% |
Returns By Period
The year-to-date returns for both stocks are quite close, with PWC having a 2.60% return and SPMD slightly lower at 2.59%. Over the past 10 years, PWC has underperformed SPMD with an annualized return of 9.15%, while SPMD has yielded a comparatively higher 10.73% annualized return.
PWC
- 1D
- 1.17%
- 1M
- -5.11%
- YTD
- 2.60%
- 6M
- 2.73%
- 1Y
- 6.46%
- 3Y*
- 12.67%
- 5Y*
- 6.65%
- 10Y*
- 9.15%
SPMD
- 1D
- 2.99%
- 1M
- -5.29%
- YTD
- 2.59%
- 6M
- 4.27%
- 1Y
- 17.37%
- 3Y*
- 12.11%
- 5Y*
- 6.60%
- 10Y*
- 10.73%
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PWC vs. SPMD - Expense Ratio Comparison
PWC has a 0.60% expense ratio, which is higher than SPMD's 0.05% expense ratio.
Return for Risk
PWC vs. SPMD — Risk / Return Rank
PWC
SPMD
PWC vs. SPMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Dynamic Market ETF (PWC) 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.
| PWC | SPMD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.46 | 0.83 | -0.37 |
Sortino ratioReturn per unit of downside risk | 0.74 | 1.30 | -0.56 |
Omega ratioGain probability vs. loss probability | 1.10 | 1.18 | -0.08 |
Calmar ratioReturn relative to maximum drawdown | 0.70 | 1.25 | -0.55 |
Martin ratioReturn relative to average drawdown | 3.23 | 5.41 | -2.18 |
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
| PWC | SPMD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.46 | 0.83 | -0.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.41 | 0.34 | +0.07 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.49 | 0.51 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.11 | 0.43 | -0.32 |
Correlation
The correlation between PWC and SPMD is 0.83, 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
PWC vs. SPMD - Dividend Comparison
PWC's dividend yield for the trailing twelve months is around 1.73%, more than SPMD's 1.37% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PWC Invesco Dynamic Market ETF | 1.73% | 1.77% | 1.58% | 1.67% | 1.51% | 0.56% | 1.09% | 0.95% | 1.44% | 1.75% | 1.35% | 1.02% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 1.37% | 1.39% | 1.42% | 1.47% | 1.64% | 1.24% | 1.30% | 1.57% | 1.85% | 1.97% | 2.13% | 5.33% |
Drawdowns
PWC vs. SPMD - Drawdown Comparison
The maximum PWC drawdown since its inception was -78.13%, which is greater than SPMD's maximum drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for PWC and SPMD.
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Drawdown Indicators
| PWC | SPMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -78.13% | -57.62% | -20.51% |
Max Drawdown (1Y)Largest decline over 1 year | -11.26% | -14.12% | +2.86% |
Max Drawdown (5Y)Largest decline over 5 years | -26.58% | -24.08% | -2.50% |
Max Drawdown (10Y)Largest decline over 10 years | -39.45% | -41.86% | +2.41% |
Current DrawdownCurrent decline from peak | -5.36% | -6.13% | +0.77% |
Average DrawdownAverage peak-to-trough decline | -36.46% | -8.18% | -28.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.45% | 3.27% | -0.82% |
Volatility
PWC vs. SPMD - Volatility Comparison
The current volatility for Invesco Dynamic Market ETF (PWC) is 3.07%, while SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a volatility of 6.56%. This indicates that PWC experiences smaller price fluctuations and is considered to be less risky 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
| PWC | SPMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.07% | 6.56% | -3.49% |
Volatility (6M)Calculated over the trailing 6-month period | 7.37% | 11.95% | -4.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.30% | 21.11% | -6.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.29% | 19.71% | -3.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.84% | 21.18% | -2.34% |