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SPMD vs. SNSXX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPMD vs. SNSXX

Last updated Jun 10, 2026

SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) and SNSXX (Schwab U.S. Treasury Money Fund) are both funds - SPMD is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 Index, while SNSXX is a Money Market fund managed by Charles Schwab. Over the past 5 years, SPMD returned 8.06%/yr vs 1.38%/yr for SNSXX. At a 0.01 correlation, their price movements are largely independent. SPMD charges 0.05%/yr vs 0.34%/yr for SNSXX.

Performance

SPMD vs. SNSXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) and Schwab U.S. Treasury Money Fund (SNSXX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, SPMD achieves a 13.50% return, which is significantly higher than SNSXX's 1.40% return.

SPMD

1D
0.82%
1M
0.99%
YTD
13.50%
6M
13.79%
1Y
23.67%
3Y*
15.34%
5Y*
8.06%
10Y*
11.43%

SNSXX

1D
0.00%
1M
0.29%
YTD
1.40%
6M
1.72%
1Y
3.69%
3Y*
2.32%
5Y*
1.38%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPMD vs. SNSXX - Yearly Performance Comparison

2026 (YTD)20252024202320222021
SPMD
SPDR Portfolio S&P 400 Mid Cap ETF		13.50%7.44%13.91%16.48%-13.13%5.98%
SNSXX
Schwab U.S. Treasury Money Fund		1.40%3.97%1.61%0.00%0.00%0.00%

Correlation

The correlation between SPMD and SNSXX is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

-0.02

Correlation (3Y)
Calculated over the trailing 3-year period

0.00

Correlation (5Y)
Calculated over the trailing 5-year period

0.01

Correlation (All Time)
Calculated using the full available price history since May 25, 2021

0.01

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SPDR Portfolio S&P 400 Mid Cap ETF

Schwab U.S. Treasury Money Fund

Often compared with SPMD:
SPMD vs. MDYSPMD vs. VOSPMD vs. SPYSPMD vs. SCHMSPMD vs. IWRSPMD vs. IMCBSPMD vs. SWMCX
Often compared with SNSXX:
SNSXX vs. SWVXXSNSXX vs. SPAXXSNSXX vs. SGOVSNSXX vs. VMFXXSNSXX vs. BILSNSXX vs. SWPPXSNSXX vs. SPY

Return for Risk

SPMD vs. SNSXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPMD
SPMD Risk / Return Rank: 5454
Overall Rank
SPMD Sharpe Ratio Rank: 4949
Sharpe Ratio Rank
SPMD Sortino Ratio Rank: 5151
Sortino Ratio Rank
SPMD Omega Ratio Rank: 4848
Omega Ratio Rank
SPMD Calmar Ratio Rank: 6161
Calmar Ratio Rank
SPMD Martin Ratio Rank: 6161
Martin Ratio Rank
SNSXX
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

SPMD vs. SNSXX - 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 Schwab U.S. Treasury Money Fund (SNSXX). 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.

SPMDSNSXXDifference
Sharpe ratioReturn per unit of total volatility
1.52
3.71

-2.19

Sortino ratioReturn per unit of downside risk
2.22

—

—

Omega ratioGain probability vs. loss probability

1.27

—

—

Calmar ratioReturn relative to maximum drawdown

2.68

—

—

Martin ratioReturn relative to average drawdown

9.83

—

—

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPMD vs. SNSXX - Sharpe Ratio Comparison

The current SPMD Sharpe Ratio is 1.52, which is lower than the SNSXX Sharpe Ratio of 3.71. The chart below compares the historical Sharpe Ratios of SPMD and SNSXX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

SPMDSNSXXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.52

3.71

-2.19

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.41

2.09

-1.68

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.54

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.45

2.08

-1.63

Drawdowns

SPMD vs. SNSXX - Drawdown Comparison

The maximum SPMD drawdown since its inception was -57.62%, which is greater than SNSXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SPMD and SNSXX.

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Drawdown Indicators

SPMDSNSXXDifference

Max Drawdown

Largest peak-to-trough decline

-57.62%

0.00%

-57.62%

Max Drawdown (1Y)

Largest decline over 1 year

-8.86%

0.00%

-8.86%

Max Drawdown (3Y)

Largest decline over 3 years

-24.08%

0.00%

-24.08%

Max Drawdown (5Y)

Largest decline over 5 years

-24.08%

0.00%

-24.08%

Max Drawdown (10Y)

Largest decline over 10 years

-41.86%

—

—

Current Drawdown

Current decline from peak

-0.91%

0.00%

-0.91%

Average Drawdown

Average peak-to-trough decline

-8.11%

0.00%

-8.11%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.41%

0.00%

+2.41%

Volatility

SPMD vs. SNSXX - Volatility Comparison

SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a higher volatility of 4.21% compared to Schwab U.S. Treasury Money Fund (SNSXX) at 0.29%. This indicates that SPMD's price experiences larger fluctuations and is considered to be riskier than SNSXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

SPMDSNSXXDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.21%

0.29%

+3.92%

Volatility (6M)

Calculated over the trailing 6-month period

11.55%

0.73%

+10.82%

Volatility (1Y)

Calculated over the trailing 1-year period

15.65%

1.06%

+14.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

19.72%

0.68%

+19.04%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.18%

0.68%

+20.50%

SPMD vs. SNSXX - Expense Ratio Comparison

SPMD has a 0.05% expense ratio, which is lower than SNSXX's 0.34% expense ratio.

Dividends

SPMD vs. SNSXX - Dividend Comparison

SPMD's dividend yield for the trailing twelve months is around 1.23%, less than SNSXX's 3.62% yield.

PositionTTM20252024202320222021202020192018201720162015
SNSXX
Schwab U.S. Treasury Money Fund		3.62%3.88%1.59%0.00%0.00%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 SNSXX have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPMD has higher volatility (4.21%) compared to SNSXX (0.29%). In terms of maximum drawdown, SPMD dropped -57.62% vs SNSXX's 0.00%.

SNSXX currently has the higher Sharpe Ratio (3.71 vs 1.52), 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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