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SPMD vs. SPY
Performance
Risk-Adjusted Performance
Dividends
Drawdowns
Volatility

Correlation

The correlation between SPMD and SPY is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.


-0.50.00.51.0
Correlation: 0.8

Performance

SPMD vs. SPY - 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 SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

400.00%450.00%500.00%550.00%600.00%NovemberDecember2025FebruaryMarchApril
380.63%
491.92%
SPMD
SPY

Key characteristics

Sharpe Ratio

SPMD:

-0.55

SPY:

-0.09

Sortino Ratio

SPMD:

-0.64

SPY:

-0.02

Omega Ratio

SPMD:

0.92

SPY:

1.00

Calmar Ratio

SPMD:

-0.48

SPY:

-0.09

Martin Ratio

SPMD:

-1.83

SPY:

-0.45

Ulcer Index

SPMD:

5.59%

SPY:

3.31%

Daily Std Dev

SPMD:

18.52%

SPY:

15.87%

Max Drawdown

SPMD:

-57.62%

SPY:

-55.19%

Current Drawdown

SPMD:

-21.44%

SPY:

-17.32%

Returns By Period

In the year-to-date period, SPMD achieves a -14.77% return, which is significantly lower than SPY's -13.53% return. Over the past 10 years, SPMD has underperformed SPY with an annualized return of 6.94%, while SPY has yielded a comparatively higher 11.25% annualized return.


SPMD

YTD

-14.77%

1M

-11.90%

6M

-14.37%

1Y

-9.28%

5Y*

16.41%

10Y*

6.94%

SPY

YTD

-13.53%

1M

-13.08%

6M

-11.25%

1Y

-0.26%

5Y*

17.01%

10Y*

11.25%

*Annualized

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SPMD vs. SPY - Expense Ratio Comparison

SPMD has a 0.05% expense ratio, which is lower than SPY's 0.09% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.


Expense ratio chart for SPY: current value is 0.09%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
SPY: 0.09%
Expense ratio chart for SPMD: current value is 0.05%, compared with the broader market range of 0.00% to 2.12%.0.50%1.00%1.50%2.00%
SPMD: 0.05%

Risk-Adjusted Performance

SPMD vs. SPY — Risk-Adjusted Performance Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

SPMD
The Risk-Adjusted Performance Rank of SPMD is 66
Overall Rank
The Sharpe Ratio Rank of SPMD is 77
Sharpe Ratio Rank
The Sortino Ratio Rank of SPMD is 77
Sortino Ratio Rank
The Omega Ratio Rank of SPMD is 77
Omega Ratio Rank
The Calmar Ratio Rank of SPMD is 77
Calmar Ratio Rank
The Martin Ratio Rank of SPMD is 44
Martin Ratio Rank

SPY
The Risk-Adjusted Performance Rank of SPY is 2121
Overall Rank
The Sharpe Ratio Rank of SPY is 2222
Sharpe Ratio Rank
The Sortino Ratio Rank of SPY is 2121
Sortino Ratio Rank
The Omega Ratio Rank of SPY is 2121
Omega Ratio Rank
The Calmar Ratio Rank of SPY is 2222
Calmar Ratio Rank
The Martin Ratio Rank of SPY is 2020
Martin Ratio Rank
The risk-adjusted ranks indicate the investment's position relative to the market. A rank closer to 100 signifies top-performing investments, while a rank closer to 0 might suggest underperformance, based on the selected ratio. The values are calculated based on the past 12 months of returns.

SPMD vs. SPY - Risk-Adjusted Performance Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) and SPDR S&P 500 ETF (SPY). 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.


The chart of Sharpe ratio for SPMD, currently valued at -0.55, compared to the broader market-1.000.001.002.003.004.005.00
SPMD: -0.55
SPY: -0.09
The chart of Sortino ratio for SPMD, currently valued at -0.64, compared to the broader market-2.000.002.004.006.008.0010.00
SPMD: -0.64
SPY: -0.02
The chart of Omega ratio for SPMD, currently valued at 0.92, compared to the broader market0.501.001.502.002.50
SPMD: 0.92
SPY: 1.00
The chart of Calmar ratio for SPMD, currently valued at -0.48, compared to the broader market0.005.0010.0015.00
SPMD: -0.48
SPY: -0.09
The chart of Martin ratio for SPMD, currently valued at -1.83, compared to the broader market0.0020.0040.0060.0080.00
SPMD: -1.83
SPY: -0.45

The current SPMD Sharpe Ratio is -0.55, which is lower than the SPY Sharpe Ratio of -0.09. The chart below compares the historical Sharpe Ratios of SPMD and SPY, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.


Rolling 12-month Sharpe Ratio-1.000.001.002.003.004.00NovemberDecember2025FebruaryMarchApril
-0.55
-0.09
SPMD
SPY

Dividends

SPMD vs. SPY - Dividend Comparison

SPMD's dividend yield for the trailing twelve months is around 1.71%, more than SPY's 1.42% yield.


TTM20242023202220212020201920182017201620152014
SPMD
SPDR Portfolio S&P 400 Mid Cap ETF
1.71%1.42%1.47%1.64%1.24%1.30%1.57%1.85%1.97%2.13%5.33%5.71%
SPY
SPDR S&P 500 ETF
1.42%1.21%1.40%1.65%1.20%1.52%1.75%2.04%1.80%2.03%2.06%1.87%

Drawdowns

SPMD vs. SPY - Drawdown Comparison

The maximum SPMD drawdown since its inception was -57.62%, roughly equal to the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for SPMD and SPY. For additional features, visit the drawdowns tool.


-20.00%-15.00%-10.00%-5.00%0.00%NovemberDecember2025FebruaryMarchApril
-21.44%
-17.32%
SPMD
SPY

Volatility

SPMD vs. SPY - Volatility Comparison

SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a higher volatility of 10.16% compared to SPDR S&P 500 ETF (SPY) at 9.29%. This indicates that SPMD's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.


2.00%4.00%6.00%8.00%10.00%NovemberDecember2025FebruaryMarchApril
10.16%
9.29%
SPMD
SPY