SPMD vs. PEXL
SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) and PEXL (Pacer US Export Leaders ETF) are both Mid Cap Blend Equities funds - SPMD tracks the S&P MidCap 400 Index while PEXL tracks the Pacer US Export Leaders Index. Both are passively managed. Over the past 5 years, SPMD returned 8.92%/yr vs 13.39%/yr for PEXL. Their correlation of 0.86 suggests significant overlap in exposure. SPMD charges 0.03%/yr vs 0.60%/yr for PEXL.
Performance
SPMD vs. PEXL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPMD achieves a 15.83% return, which is significantly lower than PEXL's 23.27% return.
SPMD
- 1D
- 0.44%
- 1M
- 3.74%
- YTD
- 15.83%
- 6M
- 13.38%
- 1Y
- 27.54%
- 3Y*
- 16.54%
- 5Y*
- 8.92%
- 10Y*
- 11.98%
PEXL
- 1D
- -0.43%
- 1M
- 5.54%
- YTD
- 23.27%
- 6M
- 22.44%
- 1Y
- 51.10%
- 3Y*
- 21.89%
- 5Y*
- 13.39%
- 10Y*
- —
SPMD vs. PEXL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 15.83% | 7.44% | 13.91% | 16.48% | -13.13% | 24.76% | 13.46% | 25.19% | -17.19% |
PEXL Pacer US Export Leaders ETF | 23.27% | 27.33% | 5.79% | 24.40% | -20.41% | 30.12% | 25.02% | 39.86% | -17.19% |
Correlation
The correlation between SPMD and PEXL is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.87 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Jul 24, 2018 | 0.86 |
The correlation between SPMD and PEXL has been stable across timeframes, ranging from 0.83 to 0.89 - a consistent structural relationship.
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. PEXL — Risk / Return Rank
SPMD
PEXL
SPMD vs. PEXL - 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 Pacer US Export Leaders ETF (PEXL). 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 | PEXL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.45 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | 4.49 | -1.37 |
| Martin ratioReturn relative to average drawdown | 11.45 | 18.64 | -7.19 |
Loading charts...
Drawdowns
SPMD vs. PEXL - Drawdown Comparison
The maximum SPMD drawdown since its inception was -57.62%, which is greater than PEXL's maximum drawdown of -36.76%. Use the drawdown chart below to compare losses from any high point for SPMD and PEXL.
Loading charts...
Drawdown Indicators
| SPMD | PEXL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.62% | -36.76% | -20.86% |
Max Drawdown (1Y)Largest decline over 1 year | -8.86% | -11.43% | +2.57% |
Max Drawdown (3Y)Largest decline over 3 years | -24.08% | -24.72% | +0.64% |
Max Drawdown (5Y)Largest decline over 5 years | -24.08% | -30.44% | +6.36% |
Max Drawdown (10Y)Largest decline over 10 years | -41.86% | — | — |
Current DrawdownCurrent decline from peak | -0.11% | -0.43% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -8.10% | -6.69% | -1.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 2.75% | -0.34% |
Volatility
SPMD vs. PEXL - Volatility Comparison
The current volatility for SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) is 4.55%, while Pacer US Export Leaders ETF (PEXL) has a volatility of 8.08%. This indicates that SPMD experiences smaller price fluctuations and is considered to be less risky than PEXL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPMD | PEXL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.55% | 8.08% | -3.53% |
Volatility (6M)Calculated over the trailing 6-month period | 11.74% | 14.63% | -2.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.89% | 19.03% | -3.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.72% | 22.08% | -2.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.21% | 24.11% | -2.90% |
SPMD vs. PEXL - Expense Ratio Comparison
SPMD has a 0.03% expense ratio, which is lower than PEXL's 0.60% expense ratio.
Dividends
SPMD vs. PEXL - Dividend Comparison
SPMD's dividend yield for the trailing twelve months is around 1.53%, more than PEXL's 0.29% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PEXL Pacer US Export Leaders ETF | 0.29% | 0.44% | 0.48% | 0.48% | 0.60% | 0.22% | 0.48% | 0.49% | 0.29% | 0.00% | 0.00% | 0.00% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 1.53% | 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 PEXL have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PEXL has higher volatility (8.08%) compared to SPMD (4.55%). In terms of maximum drawdown, SPMD dropped -57.62% vs PEXL's -36.76%.
On 5-year performance, PEXL leads with 13.39% vs 8.92% for SPMD. On fees, SPMD is cheaper at 0.03% per year. On volatility, SPMD has been the lower-risk option at 4.55%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PEXL has performed better with a 13.39% return vs 8.92%. 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 0.60% for PEXL.
SPMD has the higher dividend yield at 1.53%, compared with 0.29% for PEXL.
SPMD tracks S&P MidCap 400 Index, while PEXL tracks Pacer US Export Leaders Index. They also come from different issuers: State Street and Pacer. Their fees differ too: 0.03% for SPMD and 0.60% for PEXL.
PEXL currently has the higher Sharpe Ratio (2.70 vs 1.74), 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 PEXL
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