SPMD vs. FLDZ
SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) and FLDZ (RiverNorth Patriot ETF) are both Mid Cap Blend Equities funds. SPMD is passively managed, while FLDZ is actively managed. Over the past 3 years, SPMD returned 13.08%/yr vs 9.54%/yr for FLDZ. Their correlation of 0.93 means they have usually moved in the same direction. SPMD charges 0.03%/yr vs 0.77%/yr for FLDZ.
Performance
SPMD vs. FLDZ - Performance Comparison
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Returns By Period
In the year-to-date period, SPMD achieves a 14.67% return, which is significantly higher than FLDZ's 3.40% return.
SPMD
- 1D
- -0.08%
- 1M
- -1.01%
- 6M
- 10.21%
- YTD
- 14.67%
- 1Y
- 22.87%
- 3Y*
- 13.08%
- 5Y*
- 8.47%
- 10Y*
- 11.15%
- ALL TIME*
- 9.82%
FLDZ
- 1D
- 0.83%
- 1M
- -4.86%
- 6M
- 1.59%
- YTD
- 3.40%
- 1Y
- 6.02%
- 3Y*
- 9.54%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 5.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $3.19K | $2.29K | $1.72K | |
| $86.63M | $87.95M | $104.48M |
SPMD vs. FLDZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 14.67% | 7.44% | 13.91% | 16.48% | -13.13% |
FLDZ RiverNorth Patriot ETF | 3.40% | 6.66% | 15.99% | 12.15% | -12.07% |
Correlation
The correlation between SPMD and FLDZ is 0.80, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2022 | 0.93 |
The correlation between SPMD and FLDZ shifts across timeframes, from 0.80 (1 year) to 0.93 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPMD vs. FLDZ — Risk / Return Rank
SPMD
FLDZ
SPMD vs. FLDZ - 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 RiverNorth Patriot ETF (FLDZ). 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 | FLDZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.39 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.08 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.39 | 0.66 | +1.73 |
| Martin ratioReturn relative to average drawdown | 8.71 | 2.09 | +6.63 |
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Drawdowns
SPMD vs. FLDZ - Drawdown Comparison
The maximum SPMD drawdown since its inception was -57.62%, which is greater than FLDZ's maximum drawdown of -19.54%. Use the drawdown chart below to compare losses from any high point for SPMD and FLDZ.
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Drawdown Indicators
| SPMD | FLDZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.62% | -19.54% | -38.08% |
Max Drawdown (1Y)Largest decline over 1 year | -8.86% | -7.78% | -1.08% |
Max Drawdown (3Y)Largest decline over 3 years | -24.08% | -17.43% | -6.65% |
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 | -2.34% | -4.86% | +2.52% |
Average DrawdownAverage peak-to-trough decline | -8.07% | -5.85% | -2.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.42% | 2.45% | -0.03% |
Volatility
SPMD vs. FLDZ - Volatility Comparison
The current volatility for SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) is 3.50%, while RiverNorth Patriot ETF (FLDZ) has a volatility of 7.82%. This indicates that SPMD experiences smaller price fluctuations and is considered to be less risky than FLDZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMD | FLDZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.50% | 7.82% | -4.32% |
Volatility (6M)Calculated over the trailing 6-month period | 11.67% | 10.62% | +1.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.79% | 13.39% | +2.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.63% | 17.04% | +2.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.14% | 17.04% | +4.10% |
SPMD vs. FLDZ - Expense Ratio Comparison
SPMD has a 0.03% expense ratio, which is lower than FLDZ's 0.77% expense ratio.
Dividends
SPMD vs. FLDZ - Dividend Comparison
SPMD's dividend yield for the trailing twelve months is around 1.23%, less than FLDZ's 1.49% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLDZ RiverNorth Patriot ETF | 1.49% | 1.54% | 1.17% | 1.39% | 1.52% | 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
SPMD and FLDZ have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLDZ has higher volatility (7.82%) compared to SPMD (3.50%). In terms of maximum drawdown, SPMD dropped -57.62% vs FLDZ's -19.54%.
On 3-year performance, SPMD leads with 13.08% vs 9.54% for FLDZ. On fees, SPMD is cheaper at 0.03% per year. On volatility, SPMD has been the lower-risk option at 3.50%. 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 13.08% return vs 9.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPMD is cheaper with a 0.03% expense ratio, compared with 0.77% for FLDZ.
FLDZ has the higher dividend yield at 1.49%, compared with 1.23% for SPMD.
They also come from different issuers: State Street and RiverNorth. Their fees differ too: 0.03% for SPMD and 0.77% for FLDZ.
SPMD currently has the higher Sharpe Ratio (1.34 vs 0.38), 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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