SPMD vs. AVMC
SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) and AVMC (Avantis U.S. Mid Cap Equity ETF) are both Mid Cap Blend Equities funds. SPMD is passively managed, while AVMC is actively managed. Over the past year, SPMD returned 26.21% vs 24.28% for AVMC. With a 0.97 correlation, they move nearly in lockstep. SPMD charges 0.05%/yr vs 0.20%/yr for AVMC.
Performance
SPMD vs. AVMC - Performance Comparison
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Returns By Period
In the year-to-date period, SPMD achieves a 14.54% return, which is significantly higher than AVMC's 12.57% return.
SPMD
- 1D
- 0.33%
- 1M
- 2.89%
- YTD
- 14.54%
- 6M
- 14.24%
- 1Y
- 26.21%
- 3Y*
- 16.67%
- 5Y*
- 8.28%
- 10Y*
- 11.39%
AVMC
- 1D
- 0.47%
- 1M
- 2.03%
- YTD
- 12.57%
- 6M
- 12.61%
- 1Y
- 24.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPMD vs. AVMC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 14.54% | 7.44% | 13.91% | 15.74% |
AVMC Avantis U.S. Mid Cap Equity ETF | 12.57% | 9.98% | 16.84% | 15.39% |
Correlation
The correlation between SPMD and AVMC is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2023 | 0.98 |
The correlation between SPMD and AVMC has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.
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Return for Risk
SPMD vs. AVMC — Risk / Return Rank
SPMD
AVMC
SPMD vs. AVMC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) and Avantis U.S. Mid Cap Equity ETF (AVMC). 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.
| SPMD | AVMC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.08 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.31 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.97 | 3.09 | -0.11 |
| Martin ratioReturn relative to average drawdown | 10.91 | 11.53 | -0.62 |
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
| SPMD | AVMC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.70 | 1.78 | -0.08 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.54 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.45 | 1.32 | -0.86 |
Drawdowns
SPMD vs. AVMC - Drawdown Comparison
The maximum SPMD drawdown since its inception was -57.62%, which is greater than AVMC's maximum drawdown of -21.84%. Use the drawdown chart below to compare losses from any high point for SPMD and AVMC.
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Drawdown Indicators
| SPMD | AVMC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.62% | -21.84% | -35.78% |
Max Drawdown (1Y)Largest decline over 1 year | -8.86% | -7.90% | -0.96% |
Max Drawdown (3Y)Largest decline over 3 years | -24.08% | — | — |
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 | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -8.12% | -3.21% | -4.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 2.11% | +0.30% |
Volatility
SPMD vs. AVMC - Volatility Comparison
SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a higher volatility of 4.23% compared to Avantis U.S. Mid Cap Equity ETF (AVMC) at 3.39%. This indicates that SPMD's price experiences larger fluctuations and is considered to be riskier than AVMC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMD | AVMC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.23% | 3.39% | +0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 11.36% | 9.94% | +1.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.53% | 13.71% | +1.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.70% | 16.94% | +2.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.18% | 16.94% | +4.24% |
SPMD vs. AVMC - Expense Ratio Comparison
SPMD has a 0.05% expense ratio, which is lower than AVMC's 0.20% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPMD vs. AVMC - Dividend Comparison
SPMD's dividend yield for the trailing twelve months is around 1.22%, more than AVMC's 0.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AVMC Avantis U.S. Mid Cap Equity ETF | 0.94% | 1.12% | 1.02% | 0.24% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 1.22% | 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
With a correlation of 0.97, SPMD and AVMC 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.
SPMD has higher volatility (4.23%) compared to AVMC (3.39%). In terms of maximum drawdown, SPMD dropped -57.62% vs AVMC's -21.84%.
On 1-year performance, SPMD leads with 26.21% vs 24.28% for AVMC. On fees, SPMD is cheaper at 0.05% per year. On volatility, AVMC has been the lower-risk option at 3.39%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, SPMD has performed better with a 26.21% return vs 24.28%. 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 0.20% for AVMC.
SPMD has the higher dividend yield at 1.22%, compared with 0.94% for AVMC.
They also come from different issuers: State Street and Avantis. Their fees differ too: 0.05% for SPMD and 0.20% for AVMC.
AVMC currently has the higher Sharpe Ratio (1.78 vs 1.70), 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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