SPMD vs. MGK
SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) and MGK (Vanguard Mega Cap Growth ETF) are both exchange-traded funds - SPMD is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 Index, while MGK is a Large Cap Growth Equities fund tracking the CRSP US Mega Cap Growth Index. Both are passively managed. Over the past 10 years, SPMD returned 11.78%/yr vs 18.85%/yr for MGK. A 0.73 correlation means they provide meaningful diversification when combined. Both charge a 0.05% expense ratio.
Performance
SPMD vs. MGK - 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 MGK's 5.33% return. Over the past 10 years, SPMD has underperformed MGK with an annualized return of 11.78%, while MGK has yielded a comparatively higher 18.85% annualized return.
SPMD
- 1D
- 0.73%
- 1M
- 5.31%
- YTD
- 15.51%
- 6M
- 14.03%
- 1Y
- 27.96%
- 3Y*
- 15.42%
- 5Y*
- 8.28%
- 10Y*
- 11.78%
MGK
- 1D
- 0.22%
- 1M
- -1.87%
- YTD
- 5.33%
- 6M
- 6.21%
- 1Y
- 24.77%
- 3Y*
- 24.17%
- 5Y*
- 14.87%
- 10Y*
- 18.85%
SPMD vs. MGK - 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% |
MGK Vanguard Mega Cap Growth ETF | 5.33% | 20.67% | 32.94% | 51.67% | -33.59% | 28.58% | 41.01% | 37.38% | -2.91% | 29.49% |
Correlation
The correlation between SPMD and MGK is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Dec 27, 2007 | 0.73 |
The correlation between SPMD and MGK shifts across timeframes, from 0.54 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
SPMD vs. MGK — Risk / Return Rank
SPMD
MGK
SPMD vs. MGK - 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 Vanguard Mega Cap Growth ETF (MGK). 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 | MGK | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.27 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.24 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | 1.37 | +1.57 |
| Martin ratioReturn relative to average drawdown | 10.81 | 4.65 | +6.16 |
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Drawdowns
SPMD vs. MGK - Drawdown Comparison
The maximum SPMD drawdown since its inception was -57.62%, which is greater than MGK's maximum drawdown of -48.43%. Use the drawdown chart below to compare losses from any high point for SPMD and MGK.
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Drawdown Indicators
| SPMD | MGK | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.62% | -48.43% | -9.19% |
Max Drawdown (1Y)Largest decline over 1 year | -8.86% | -16.85% | +7.99% |
Max Drawdown (3Y)Largest decline over 3 years | -24.08% | -23.36% | -0.72% |
Max Drawdown (5Y)Largest decline over 5 years | -24.08% | -36.01% | +11.93% |
Max Drawdown (10Y)Largest decline over 10 years | -41.86% | -36.01% | -5.85% |
Current DrawdownCurrent decline from peak | 0.00% | -5.63% | +5.63% |
Average DrawdownAverage peak-to-trough decline | -8.11% | -7.58% | -0.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 4.97% | -2.56% |
Volatility
SPMD vs. MGK - Volatility Comparison
The current volatility for SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) is 5.07%, while Vanguard Mega Cap Growth ETF (MGK) has a volatility of 5.96%. This indicates that SPMD experiences smaller price fluctuations and is considered to be less risky than MGK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMD | MGK | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 5.96% | -0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 11.77% | 13.29% | -1.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.91% | 16.87% | -0.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.75% | 22.72% | -2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 21.93% | -0.73% |
SPMD vs. MGK - Expense Ratio Comparison
Both SPMD and MGK have an expense ratio of 0.05%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.
Dividends
SPMD vs. MGK - Dividend Comparison
SPMD's dividend yield for the trailing twelve months is around 1.21%, more than MGK's 0.33% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGK Vanguard Mega Cap Growth ETF | 0.33% | 0.35% | 0.43% | 0.50% | 0.70% | 0.41% | 0.65% | 0.85% | 1.12% | 1.23% | 1.53% | 1.43% |
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 MGK have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGK has higher volatility (5.96%) compared to SPMD (5.07%). In terms of maximum drawdown, SPMD dropped -57.62% vs MGK's -48.43%.
On 10-year performance, MGK leads with 18.85% vs 11.78% for SPMD. Both ETFs have the same 0.05% expense ratio. On volatility, SPMD has been the lower-risk option at 5.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, MGK has performed better with a 18.85% return vs 11.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPMD and MGK have the same expense ratio: 0.05% per year.
SPMD has the higher dividend yield at 1.21%, compared with 0.33% for MGK.
SPMD is categorized as Mid Cap Blend Equities, while MGK is Large Cap Growth Equities. SPMD tracks S&P MidCap 400 Index, while MGK tracks CRSP US Mega Cap Growth Index. They also come from different issuers: State Street and Vanguard.
SPMD currently has the higher Sharpe Ratio (1.64 vs 1.37), 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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