SMOT vs. SPMD
SMOT (VanEck Morningstar SMID Moat ETF) and SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) are both Mid Cap Blend Equities funds - SMOT tracks the Morningstar US Small-Mid Cap Moat Focus while SPMD tracks the S&P MidCap 400 Index. Both are passively managed. Over the past 3 years, SMOT returned 11.98%/yr vs 16.15%/yr for SPMD. Their correlation of 0.94 suggests significant overlap in exposure. SMOT charges 0.49%/yr vs 0.05%/yr for SPMD.
Performance
SMOT vs. SPMD - Performance Comparison
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Returns By Period
In the year-to-date period, SMOT achieves a 7.04% return, which is significantly lower than SPMD's 14.16% return.
SMOT
- 1D
- -0.21%
- 1M
- 4.42%
- YTD
- 7.04%
- 6M
- 7.50%
- 1Y
- 16.94%
- 3Y*
- 11.98%
- 5Y*
- —
- 10Y*
- —
SPMD
- 1D
- -0.08%
- 1M
- 3.86%
- YTD
- 14.16%
- 6M
- 14.41%
- 1Y
- 25.49%
- 3Y*
- 16.15%
- 5Y*
- 8.20%
- 10Y*
- 11.51%
SMOT vs. SPMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SMOT VanEck Morningstar SMID Moat ETF | 7.04% | 6.46% | 10.71% | 17.31% | 5.41% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 14.16% | 7.44% | 13.91% | 16.48% | 4.92% |
Correlation
The correlation between SMOT and SPMD is 0.88, 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 | 0.88 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Oct 7, 2022 | 0.94 |
The correlation between SMOT and SPMD has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.
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Return for Risk
SMOT vs. SPMD — Risk / Return Rank
SMOT
SPMD
SMOT vs. SPMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar SMID Moat ETF (SMOT) 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.
| SMOT | SPMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.29 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 2.89 | -0.98 |
| Martin ratioReturn relative to average drawdown | 6.12 | 10.61 | -4.50 |
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
| SMOT | SPMD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.21 | 1.65 | -0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.42 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.71 | 0.45 | +0.26 |
Drawdowns
SMOT vs. SPMD - Drawdown Comparison
The maximum SMOT drawdown since its inception was -23.36%, smaller than the maximum SPMD drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for SMOT and SPMD.
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Drawdown Indicators
| SMOT | SPMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.36% | -57.62% | +34.26% |
Max Drawdown (1Y)Largest decline over 1 year | -8.91% | -8.86% | -0.05% |
Max Drawdown (3Y)Largest decline over 3 years | -23.36% | -24.08% | +0.72% |
Max Drawdown (5Y)Largest decline over 5 years | — | -24.08% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.86% | — |
Current DrawdownCurrent decline from peak | -0.21% | -0.08% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -4.81% | -8.12% | +3.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.78% | 2.41% | +0.37% |
Volatility
SMOT vs. SPMD - Volatility Comparison
The current volatility for VanEck Morningstar SMID Moat ETF (SMOT) is 3.03%, while SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a volatility of 4.38%. This indicates that SMOT 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
| SMOT | SPMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.03% | 4.38% | -1.35% |
Volatility (6M)Calculated over the trailing 6-month period | 9.47% | 11.37% | -1.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.14% | 15.57% | -1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.42% | 19.70% | -1.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.42% | 21.18% | -2.76% |
SMOT vs. SPMD - Expense Ratio Comparison
SMOT has a 0.49% expense ratio, which is higher than SPMD's 0.05% expense ratio.
Dividends
SMOT vs. SPMD - Dividend Comparison
SMOT's dividend yield for the trailing twelve months is around 1.28%, more than SPMD's 1.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SMOT VanEck Morningstar SMID Moat ETF | 1.28% | 1.37% | 1.18% | 0.65% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
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
SMOT and SPMD have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMD has higher volatility (4.38%) compared to SMOT (3.03%). In terms of maximum drawdown, SMOT dropped -23.36% vs SPMD's -57.62%.
On 3-year performance, SPMD leads with 16.15% vs 11.98% for SMOT. On fees, SPMD is cheaper at 0.05% per year. On volatility, SMOT has been the lower-risk option at 3.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, SPMD has performed better with a 16.15% return vs 11.98%. 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 0.49% for SMOT.
SMOT has the higher dividend yield at 1.28%, compared with 1.23% for SPMD.
SMOT tracks Morningstar US Small-Mid Cap Moat Focus, while SPMD tracks S&P MidCap 400 Index. They also come from different issuers: VanEck and State Street. Their fees differ too: 0.49% for SMOT and 0.05% for SPMD.
SPMD currently has the higher Sharpe Ratio (1.65 vs 1.21), 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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