PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
RYJ vs. SPMD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

RYJ vs. SPMD

Last updated Jun 3, 2026

RYJ (Invesco Raymond James SB-1 Equity ETF) and SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) are both Mid Cap Blend Equities funds - RYJ tracks the Raymond James SB-1 Equity Index while SPMD tracks the S&P MidCap 400 Index. Both are passively managed. Over the past 10 years, RYJ returned 10.38%/yr vs 11.52%/yr for SPMD. Their correlation of 0.87 suggests significant overlap in exposure. RYJ charges 0.40%/yr vs 0.05%/yr for SPMD.

Performance

RYJ vs. SPMD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Raymond James SB-1 Equity ETF (RYJ) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, RYJ achieves a 11.22% return, which is significantly lower than SPMD's 14.25% return. Over the past 10 years, RYJ has underperformed SPMD with an annualized return of 10.38%, while SPMD has yielded a comparatively higher 11.52% annualized return.

RYJ

1D
0.34%
1M
6.49%
YTD
11.22%
6M
12.45%
1Y
18.81%
3Y*
15.52%
5Y*
7.34%
10Y*
10.38%

SPMD

1D
0.92%
1M
3.32%
YTD
14.25%
6M
15.29%
1Y
27.16%
3Y*
16.18%
5Y*
8.34%
10Y*
11.52%
*Multi-year figures are annualized to reflect compound growth (CAGR)

RYJ vs. SPMD - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
RYJ
Invesco Raymond James SB-1 Equity ETF		11.22%8.89%13.28%15.65%-13.17%24.09%6.21%32.02%-14.84%13.31%
SPMD
SPDR Portfolio S&P 400 Mid Cap ETF		14.25%7.44%13.91%16.48%-13.13%24.76%13.46%25.19%-10.34%15.12%

Correlation

The correlation between RYJ and SPMD is 0.85, 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

0.85

Correlation (3Y)
Calculated over the trailing 3-year period

0.88

Correlation (5Y)
Calculated over the trailing 5-year period

0.92

Correlation (10Y)
Calculated over the trailing 10-year period

0.90

Correlation (All Time)
Calculated using the full available price history since May 22, 2006

0.87

The correlation between RYJ and SPMD has been stable across timeframes, ranging from 0.85 to 0.92 - a consistent structural relationship.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Invesco Raymond James SB-1 Equity ETF

SPDR Portfolio S&P 400 Mid Cap ETF

Often compared with RYJ:
RYJ vs. IWMRYJ vs. OMFLRYJ vs. VIMAXRYJ vs. TUSARYJ vs. RSHORYJ vs. FDLSRYJ vs. VFQY
Often compared with SPMD:
SPMD vs. MDYSPMD vs. VOSPMD vs. SPYSPMD vs. SCHMSPMD vs. IWRSPMD vs. IMCBSPMD vs. SWMCX

Return for Risk

RYJ vs. SPMD — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
RYJ
RYJ Risk / Return Rank: 3838
Overall Rank
RYJ Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
RYJ Sortino Ratio Rank: 4141
Sortino Ratio Rank
RYJ Omega Ratio Rank: 3535
Omega Ratio Rank
RYJ Calmar Ratio Rank: 3737
Calmar Ratio Rank
RYJ Martin Ratio Rank: 4040
Martin Ratio Rank
SPMD
SPMD Risk / Return Rank: 5454
Overall Rank
SPMD Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
SPMD Sortino Ratio Rank: 5252
Sortino Ratio Rank
SPMD Omega Ratio Rank: 4848
Omega Ratio Rank
SPMD Calmar Ratio Rank: 6060
Calmar Ratio Rank
SPMD Martin Ratio Rank: 6262
Martin Ratio Rank
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.

RYJ vs. SPMD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Raymond James SB-1 Equity ETF (RYJ) 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.

RYJSPMDDifference

Sharpe ratio

Return per unit of total volatility

1.39

1.75

-0.37

Sortino ratio

Return per unit of downside risk

2.11

2.54

-0.43

Omega ratio

Gain probability vs. loss probability

1.24

1.31

-0.07

Calmar ratio

Return relative to maximum drawdown

1.88

3.04

-1.16

Martin ratio

Return relative to average drawdown

6.46

11.20

-4.73

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RYJ vs. SPMD - Sharpe Ratio Comparison

The current RYJ Sharpe Ratio is 1.39, which is comparable to the SPMD Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of RYJ and SPMD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

RYJSPMDDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.39

1.75

-0.37

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.40

0.43

-0.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.48

0.55

-0.06

Sharpe Ratio (All Time)

Calculated using the full available price history

0.34

0.45

-0.11

Drawdowns

RYJ vs. SPMD - Drawdown Comparison

The maximum RYJ drawdown since its inception was -60.74%, which is greater than SPMD's maximum drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for RYJ and SPMD.

Loading charts...

Drawdown Indicators

RYJSPMDDifference

Max Drawdown

Largest peak-to-trough decline

-60.74%

-57.62%

-3.12%

Max Drawdown (1Y)

Largest decline over 1 year

-10.01%

-8.86%

-1.15%

Max Drawdown (3Y)

Largest decline over 3 years

-16.90%

-24.08%

+7.18%

Max Drawdown (5Y)

Largest decline over 5 years

-24.31%

-24.08%

-0.23%

Max Drawdown (10Y)

Largest decline over 10 years

-50.20%

-41.86%

-8.34%

Current Drawdown

Current decline from peak

0.00%

0.00%

0.00%

Average Drawdown

Average peak-to-trough decline

-10.27%

-8.12%

-2.15%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.92%

2.41%

+0.51%

Volatility

RYJ vs. SPMD - Volatility Comparison

Invesco Raymond James SB-1 Equity ETF (RYJ) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) have volatilities of 4.56% and 4.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

RYJSPMDDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.56%

4.44%

+0.12%

Volatility (6M)

Calculated over the trailing 6-month period

9.99%

11.38%

-1.39%

Volatility (1Y)

Calculated over the trailing 1-year period

13.62%

15.57%

-1.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.65%

19.70%

-1.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.65%

21.19%

+0.46%

RYJ vs. SPMD - Expense Ratio Comparison

RYJ has a 0.40% expense ratio, which is higher than SPMD's 0.05% expense ratio.

Dividends

RYJ vs. SPMD - Dividend Comparison

RYJ's dividend yield for the trailing twelve months is around 1.57%, more than SPMD's 1.23% yield.

PositionTTM20252024202320222021202020192018201720162015
RYJ
Invesco Raymond James SB-1 Equity ETF		1.57%1.75%1.28%1.39%0.72%0.52%0.28%0.20%1.43%0.00%1.55%0.93%
SPMD
SPDR Portfolio S&P 400 Mid Cap ETF		1.23%1.39%1.42%1.47%1.64%1.24%1.30%1.57%1.85%1.97%2.13%5.33%

Frequently Asked Questions

RYJ and SPMD have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

RYJ has higher volatility (4.56%) compared to SPMD (4.44%). In terms of maximum drawdown, RYJ dropped -60.74% vs SPMD's -57.62%.

On 10-year performance, SPMD leads with 11.52% vs 10.38% for RYJ. On fees, SPMD is cheaper at 0.05% per year. On volatility, SPMD has been the lower-risk option at 4.44%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, SPMD has performed better with a 11.52% return vs 10.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPMD is cheaper with a 0.05% expense ratio, compared with 0.40% for RYJ.

RYJ has the higher dividend yield at 1.57%, compared with 1.23% for SPMD.

RYJ tracks Raymond James SB-1 Equity Index, while SPMD tracks S&P MidCap 400 Index. They also come from different issuers: Invesco and State Street. Their fees differ too: 0.40% for RYJ and 0.05% for SPMD.

SPMD currently has the higher Sharpe Ratio (1.75 vs 1.39), 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.

Portfolio Optimizer

Find the right allocation for RYJ and SPMD

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer