SPMD vs. DGRW
SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) and DGRW (WisdomTree U.S. Quality Dividend Growth Fund) are both exchange-traded funds - SPMD is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 Index, while DGRW is a Dividend fund tracking the WisdomTree U.S. Quality Dividend Growth Index. Both are passively managed. Over the past 10 years, SPMD returned 11.78%/yr vs 14.13%/yr for DGRW. A 0.80 correlation means they provide meaningful diversification when combined. SPMD charges 0.05%/yr vs 0.28%/yr for DGRW.
Performance
SPMD vs. DGRW - Performance Comparison
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Returns By Period
In the year-to-date period, SPMD achieves a 15.51% return, which is significantly higher than DGRW's 7.88% return. Over the past 10 years, SPMD has underperformed DGRW with an annualized return of 11.78%, while DGRW has yielded a comparatively higher 14.13% annualized return.
SPMD
- 1D
- 0.73%
- 1M
- 3.56%
- YTD
- 15.51%
- 6M
- 14.03%
- 1Y
- 27.96%
- 3Y*
- 15.42%
- 5Y*
- 8.28%
- 10Y*
- 11.78%
DGRW
- 1D
- 0.50%
- 1M
- -0.55%
- YTD
- 7.88%
- 6M
- 7.92%
- 1Y
- 18.88%
- 3Y*
- 15.58%
- 5Y*
- 11.95%
- 10Y*
- 14.13%
SPMD vs. DGRW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 15.51% | 7.44% | 13.91% | 16.48% | -13.13% | 24.76% | 13.46% | 25.19% | -10.34% | 15.12% |
DGRW WisdomTree U.S. Quality Dividend Growth Fund | 7.88% | 12.17% | 16.98% | 18.66% | -6.33% | 24.46% | 13.87% | 29.54% | -5.38% | 26.90% |
Correlation
The correlation between SPMD and DGRW is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.84 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since May 22, 2013 | 0.80 |
The correlation between SPMD and DGRW has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.
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Return for Risk
SPMD vs. DGRW — Risk / Return Rank
SPMD
DGRW
SPMD vs. DGRW - 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 WisdomTree U.S. Quality Dividend Growth Fund (DGRW). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| SPMD | DGRW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.12 | ||
| Sortino ratioReturn per unit of downside risk | -0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.32 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | 2.15 | +0.80 |
| Martin ratioReturn relative to average drawdown | 10.81 | 9.28 | +1.53 |
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Drawdowns
SPMD vs. DGRW - Drawdown Comparison
The maximum SPMD drawdown since its inception was -57.62%, which is greater than DGRW's maximum drawdown of -32.04%. Use the drawdown chart below to compare losses from any high point for SPMD and DGRW.
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Drawdown Indicators
| SPMD | DGRW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.62% | -32.04% | -25.58% |
Max Drawdown (1Y)Largest decline over 1 year | -8.86% | -8.30% | -0.56% |
Max Drawdown (3Y)Largest decline over 3 years | -24.08% | -16.21% | -7.87% |
Max Drawdown (5Y)Largest decline over 5 years | -24.08% | -17.27% | -6.81% |
Max Drawdown (10Y)Largest decline over 10 years | -41.86% | -32.04% | -9.82% |
Current DrawdownCurrent decline from peak | 0.00% | -1.93% | +1.93% |
Average DrawdownAverage peak-to-trough decline | -8.11% | -3.01% | -5.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 1.92% | +0.49% |
Volatility
SPMD vs. DGRW - Volatility Comparison
SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a higher volatility of 5.07% compared to WisdomTree U.S. Quality Dividend Growth Fund (DGRW) at 3.41%. This indicates that SPMD's price experiences larger fluctuations and is considered to be riskier than DGRW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMD | DGRW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 3.41% | +1.66% |
Volatility (6M)Calculated over the trailing 6-month period | 11.77% | 8.04% | +3.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.91% | 10.16% | +5.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.75% | 14.01% | +5.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 16.23% | +4.97% |
SPMD vs. DGRW - Expense Ratio Comparison
SPMD has a 0.05% expense ratio, which is lower than DGRW's 0.28% expense ratio.
Dividends
SPMD vs. DGRW - Dividend Comparison
SPMD's dividend yield for the trailing twelve months is around 1.21%, less than DGRW's 1.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DGRW WisdomTree U.S. Quality Dividend Growth Fund | 1.28% | 1.43% | 1.55% | 1.74% | 2.15% | 1.78% | 1.93% | 2.20% | 2.42% | 1.71% | 2.13% | 2.18% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 1.21% | 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
SPMD and DGRW have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMD has higher volatility (5.07%) compared to DGRW (3.41%). In terms of maximum drawdown, SPMD dropped -57.62% vs DGRW's -32.04%.
On 10-year performance, DGRW leads with 14.13% vs 11.78% for SPMD. On fees, SPMD is cheaper at 0.05% per year. On volatility, DGRW has been the lower-risk option at 3.41%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, DGRW has performed better with a 14.13% return vs 11.78%. 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 0.28% for DGRW.
DGRW has the higher dividend yield at 1.28%, compared with 1.21% for SPMD.
SPMD is categorized as Mid Cap Blend Equities, while DGRW is Dividend. SPMD tracks S&P MidCap 400 Index, while DGRW tracks WisdomTree U.S. Quality Dividend Growth Index. They also come from different issuers: State Street and WisdomTree. Their fees differ too: 0.05% for SPMD and 0.28% for DGRW.
DGRW currently has the higher Sharpe Ratio (1.76 vs 1.64), 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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