QDVC.DE vs. SPY4.DE

Last updated Jun 5, 2026

QDVC.DE (iShares Edge MSCI USA Size Factor UCITS ETF) and SPY4.DE (SPDR S&P 400 US Mid Cap UCITS ETF) are both Mid Cap Blend Equities funds - QDVC.DE tracks the MSCI USA Mid-Cap Equal Weighted while SPY4.DE tracks the S&P MidCap 400. Both are passively managed. Over the past 5 years, QDVC.DE returned 7.32%/yr vs 8.81%/yr for SPY4.DE. With a 0.96 correlation, they move nearly in lockstep. QDVC.DE charges 0.20%/yr vs 0.30%/yr for SPY4.DE.

Performance

QDVC.DE vs. SPY4.DE - Performance Comparison

The chart below illustrates the hypothetical performance of a €10,000 investment in iShares Edge MSCI USA Size Factor UCITS ETF (QDVC.DE) and SPDR S&P 400 US Mid Cap UCITS ETF (SPY4.DE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, QDVC.DE achieves a 8.40% return, which is significantly lower than SPY4.DE's 14.09% return.

QDVC.DE

• 1D: 0.46%
• 1M: 4.30%
• YTD: 8.40%
• 6M: 8.90%
• 1Y: 14.76%
• 3Y*: 11.54%
• 5Y*: 7.32%
• 10Y*: —

SPY4.DE

• 1D: 0.26%
• 1M: 3.97%
• YTD: 14.09%
• 6M: 14.48%
• 1Y: 23.06%
• 3Y*: 12.93%
• 5Y*: 8.81%
• 10Y*: 10.43%

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

QDVC.DE vs. SPY4.DE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
QDVC.DE iShares Edge MSCI USA Size Factor UCITS ETF	8.40%	-3.21%	19.27%	13.21%	-13.60%	37.66%	6.30%	31.46%	-6.82%	4.09%
SPY4.DE SPDR S&P 400 US Mid Cap UCITS ETF	14.09%	-3.63%	18.67%	13.23%	-8.82%	35.58%	2.35%	29.19%	-8.75%	1.67%

Correlation

The correlation between QDVC.DE and SPY4.DE is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (All Time) Calculated using the full available price history since Oct 25, 2016	0.96

The correlation between QDVC.DE and SPY4.DE has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.

Return for Risk

QDVC.DE vs. SPY4.DE — Risk / Return Rank

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

QDVC.DE

QDVC.DE Risk / Return Rank: 35
QDVC.DE Sharpe Ratio Rank: 34
QDVC.DE Sortino Ratio Rank: 33
QDVC.DE Omega Ratio Rank: 32
QDVC.DE Calmar Ratio Rank: 39
QDVC.DE Martin Ratio Rank: 37

SPY4.DE

SPY4.DE Risk / Return Rank: 55
SPY4.DE Sharpe Ratio Rank: 46
SPY4.DE Sortino Ratio Rank: 45
SPY4.DE Omega Ratio Rank: 44
SPY4.DE Calmar Ratio Rank: 76
SPY4.DE Martin Ratio Rank: 63

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.

QDVC.DE vs. SPY4.DE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI USA Size Factor UCITS ETF (QDVC.DE) and SPDR S&P 400 US Mid Cap UCITS ETF (SPY4.DE). 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.

	QDVC.DE	SPY4.DE	Difference
Sharpe ratio: Return per unit of total volatility	1.19	1.57	-0.37
Sortino ratio: Return per unit of downside risk	1.72	2.22	-0.50
Omega ratio: Gain probability vs. loss probability	1.21	1.28	-0.07
Calmar ratio: Return relative to maximum drawdown	1.91	3.78	-1.88
Martin ratio: Return relative to average drawdown	5.80	11.31	-5.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QDVC.DE vs. SPY4.DE - Sharpe Ratio Comparison

The current QDVC.DE Sharpe Ratio is 1.19, which is comparable to the SPY4.DE Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of QDVC.DE and SPY4.DE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	QDVC.DE	SPY4.DE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	1.57	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	0.48	-0.05
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.53	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.65	-0.11

Drawdowns

QDVC.DE vs. SPY4.DE - Drawdown Comparison

The maximum QDVC.DE drawdown since its inception was -40.76%, roughly equal to the maximum SPY4.DE drawdown of -42.72%. Use the drawdown chart below to compare losses from any high point for QDVC.DE and SPY4.DE.

Drawdown Indicators

	QDVC.DE	SPY4.DE	Difference
Max Drawdown Largest peak-to-trough decline	-40.76%	-42.72%	+1.96%
Max Drawdown (1Y) Largest decline over 1 year	-7.70%	-6.07%	-1.63%
Max Drawdown (3Y) Largest decline over 3 years	-25.54%	-29.11%	+3.57%
Max Drawdown (5Y) Largest decline over 5 years	-25.54%	-29.11%	+3.57%
Max Drawdown (10Y) Largest decline over 10 years	—	-42.72%	—
Current Drawdown Current decline from peak	-1.48%	0.00%	-1.48%
Average Drawdown Average peak-to-trough decline	-6.58%	-5.87%	-0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.54%	2.03%	+0.51%

Volatility

QDVC.DE vs. SPY4.DE - Volatility Comparison

The current volatility for iShares Edge MSCI USA Size Factor UCITS ETF (QDVC.DE) is 2.89%, while SPDR S&P 400 US Mid Cap UCITS ETF (SPY4.DE) has a volatility of 3.51%. This indicates that QDVC.DE experiences smaller price fluctuations and is considered to be less risky than SPY4.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	QDVC.DE	SPY4.DE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.89%	3.51%	-0.62%
Volatility (6M) Calculated over the trailing 6-month period	8.09%	9.83%	-1.74%
Volatility (1Y) Calculated over the trailing 1-year period	12.31%	14.65%	-2.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.87%	18.33%	-1.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.28%	19.50%	-1.22%

QDVC.DE vs. SPY4.DE - Expense Ratio Comparison

QDVC.DE has a 0.20% expense ratio, which is lower than SPY4.DE's 0.30% expense ratio.

Dividends

QDVC.DE vs. SPY4.DE - Dividend Comparison

Neither QDVC.DE nor SPY4.DE has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both QDVC.DE and SPY4.DE in my portfolio?

With a correlation of 0.92, QDVC.DE and SPY4.DE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, QDVC.DE or SPY4.DE?

On fees, QDVC.DE is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QDVC.DE or SPY4.DE?

QDVC.DE is cheaper with a 0.20% expense ratio, compared with 0.30% for SPY4.DE.

What is the main difference between QDVC.DE and SPY4.DE?

QDVC.DE tracks MSCI USA Mid-Cap Equal Weighted, while SPY4.DE tracks S&P MidCap 400. They also come from different issuers: iShares and State Street. Their fees differ too: 0.20% for QDVC.DE and 0.30% for SPY4.DE.