SPMD vs. FDVV
SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) and FDVV (Fidelity High Dividend ETF) are both exchange-traded funds - SPMD is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 Index, while FDVV is a Large Cap Blend Equities fund tracking the Fidelity Core Dividend Index. Both are passively managed. Over the past 5 years, SPMD returned 8.72%/yr vs 13.83%/yr for FDVV. Their correlation of 0.85 suggests significant overlap in exposure. SPMD charges 0.05%/yr vs 0.29%/yr for FDVV.
Performance
SPMD vs. FDVV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPMD achieves a 15.96% return, which is significantly higher than FDVV's 9.83% return.
SPMD
- 1D
- 0.39%
- 1M
- 5.72%
- YTD
- 15.96%
- 6M
- 14.71%
- 1Y
- 28.46%
- 3Y*
- 15.58%
- 5Y*
- 8.72%
- 10Y*
- 11.85%
FDVV
- 1D
- 0.49%
- 1M
- 4.24%
- YTD
- 9.83%
- 6M
- 10.02%
- 1Y
- 24.53%
- 3Y*
- 19.43%
- 5Y*
- 13.83%
- 10Y*
- —
SPMD vs. FDVV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 15.96% | 7.44% | 13.91% | 16.48% | -13.13% | 24.76% | 13.46% | 25.19% | -10.34% | 15.12% |
FDVV Fidelity High Dividend ETF | 9.83% | 17.08% | 21.81% | 18.00% | -4.21% | 29.24% | 2.80% | 24.07% | -1.26% | 14.00% |
Correlation
The correlation between SPMD and FDVV is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2016 | 0.85 |
The correlation between SPMD and FDVV shifts across timeframes, from 0.75 (1 year) to 0.87 (5 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
SPMD vs. FDVV — Risk / Return Rank
SPMD
FDVV
SPMD vs. FDVV - 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 Fidelity High Dividend ETF (FDVV). 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 | FDVV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.45 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 3.23 | 2.65 | +0.58 |
| Martin ratioReturn relative to average drawdown | 11.84 | 10.98 | +0.86 |
Loading charts...
Drawdowns
SPMD vs. FDVV - Drawdown Comparison
The maximum SPMD drawdown since its inception was -57.62%, which is greater than FDVV's maximum drawdown of -40.25%. Use the drawdown chart below to compare losses from any high point for SPMD and FDVV.
Loading charts...
Drawdown Indicators
| SPMD | FDVV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.62% | -40.25% | -17.37% |
Max Drawdown (1Y)Largest decline over 1 year | -8.86% | -9.30% | +0.44% |
Max Drawdown (3Y)Largest decline over 3 years | -24.08% | -15.90% | -8.18% |
Max Drawdown (5Y)Largest decline over 5 years | -24.08% | -20.18% | -3.90% |
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 | -8.11% | -3.80% | -4.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 2.24% | +0.17% |
Volatility
SPMD vs. FDVV - Volatility Comparison
SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a higher volatility of 5.07% compared to Fidelity High Dividend ETF (FDVV) at 3.08%. This indicates that SPMD's price experiences larger fluctuations and is considered to be riskier than FDVV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPMD | FDVV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 3.08% | +1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 11.74% | 8.17% | +3.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.86% | 10.07% | +5.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.75% | 14.77% | +4.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 16.98% | +4.22% |
SPMD vs. FDVV - Expense Ratio Comparison
SPMD has a 0.05% expense ratio, which is lower than FDVV's 0.29% expense ratio.
Dividends
SPMD vs. FDVV - Dividend Comparison
SPMD's dividend yield for the trailing twelve months is around 1.21%, less than FDVV's 2.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FDVV Fidelity High Dividend ETF | 2.68% | 2.89% | 2.94% | 3.77% | 3.44% | 2.70% | 3.19% | 3.93% | 4.05% | 3.66% | 1.04% | 0.00% |
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 FDVV have a correlation of 0.75, 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 FDVV (3.08%). In terms of maximum drawdown, SPMD dropped -57.62% vs FDVV's -40.25%.
On 5-year performance, FDVV leads with 13.83% vs 8.72% for SPMD. On fees, SPMD is cheaper at 0.05% per year. On volatility, FDVV has been the lower-risk option at 3.08%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FDVV has performed better with a 13.83% return vs 8.72%. 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 0.29% for FDVV.
FDVV has the higher dividend yield at 2.68%, compared with 1.21% for SPMD.
SPMD is categorized as Mid Cap Blend Equities, while FDVV is Large Cap Blend Equities. SPMD tracks S&P MidCap 400 Index, while FDVV tracks Fidelity Core Dividend Index. They also come from different issuers: State Street and Fidelity. Their fees differ too: 0.05% for SPMD and 0.29% for FDVV.
FDVV currently has the higher Sharpe Ratio (2.45 vs 1.81), 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.
Find the right allocation for SPMD and FDVV
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