SPMD vs. SPYV
SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) and SPYV (SPDR Portfolio S&P 500 Value ETF) are both exchange-traded funds - SPMD is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 Index, while SPYV is a S&P 500 fund tracking the S&P 500 Value Index. Both are passively managed. Over the past 10 years, SPMD returned 11.78%/yr vs 12.08%/yr for SPYV. Their correlation of 0.82 suggests significant overlap in exposure. SPMD charges 0.05%/yr vs 0.04%/yr for SPYV.
Performance
SPMD vs. SPYV - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, SPMD achieves a 15.51% return, which is significantly higher than SPYV's 8.25% return. Both investments have delivered pretty close results over the past 10 years, with SPMD having a 11.78% annualized return and SPYV not far ahead at 12.08%.
SPMD
- 1D
- 0.73%
- 1M
- 3.56%
- YTD
- 15.51%
- 6M
- 14.03%
- 1Y
- 27.96%
- 3Y*
- 15.42%
- 5Y*
- 8.28%
- 10Y*
- 11.78%
SPYV
- 1D
- 0.69%
- 1M
- 1.59%
- YTD
- 8.25%
- 6M
- 8.02%
- 1Y
- 21.87%
- 3Y*
- 15.13%
- 5Y*
- 10.98%
- 10Y*
- 12.08%
SPMD vs. SPYV - 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% |
SPYV SPDR Portfolio S&P 500 Value ETF | 8.25% | 13.18% | 12.24% | 22.20% | -5.28% | 24.91% | 1.38% | 31.70% | -9.01% | 15.40% |
Correlation
The correlation between SPMD and SPYV is 0.82, 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 | 0.82 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.86 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2005 | 0.82 |
The correlation between SPMD and SPYV has been stable across timeframes, ranging from 0.82 to 0.88 - 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. SPYV — Risk / Return Rank
SPMD
SPYV
SPMD vs. SPYV - 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 SPDR Portfolio S&P 500 Value ETF (SPYV). 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 | SPYV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.44 | ||
| Sortino ratioReturn per unit of downside risk | -0.53 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.37 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | 3.33 | -0.39 |
| Martin ratioReturn relative to average drawdown | 10.81 | 12.73 | -1.92 |
Loading charts...
Drawdowns
SPMD vs. SPYV - Drawdown Comparison
The maximum SPMD drawdown since its inception was -57.62%, roughly equal to the maximum SPYV drawdown of -58.45%. Use the drawdown chart below to compare losses from any high point for SPMD and SPYV.
Loading charts...
Drawdown Indicators
| SPMD | SPYV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.62% | -58.45% | +0.83% |
Max Drawdown (1Y)Largest decline over 1 year | -8.86% | -6.22% | -2.64% |
Max Drawdown (3Y)Largest decline over 3 years | -24.08% | -17.54% | -6.54% |
Max Drawdown (5Y)Largest decline over 5 years | -24.08% | -17.89% | -6.19% |
Max Drawdown (10Y)Largest decline over 10 years | -41.86% | -36.89% | -4.97% |
Current DrawdownCurrent decline from peak | 0.00% | -0.18% | +0.18% |
Average DrawdownAverage peak-to-trough decline | -8.11% | -8.71% | +0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 1.63% | +0.78% |
Volatility
SPMD vs. SPYV - Volatility Comparison
SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a higher volatility of 5.07% compared to SPDR Portfolio S&P 500 Value ETF (SPYV) at 2.70%. This indicates that SPMD's price experiences larger fluctuations and is considered to be riskier than SPYV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| SPMD | SPYV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 2.70% | +2.37% |
Volatility (6M)Calculated over the trailing 6-month period | 11.77% | 7.26% | +4.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.91% | 9.97% | +5.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.75% | 14.42% | +5.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 16.94% | +4.26% |
SPMD vs. SPYV - Expense Ratio Comparison
SPMD has a 0.05% expense ratio, which is higher than SPYV's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
SPMD vs. SPYV - Dividend Comparison
SPMD's dividend yield for the trailing twelve months is around 1.21%, less than SPYV's 1.68% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
SPYV SPDR Portfolio S&P 500 Value ETF | 1.68% | 1.77% | 2.29% | 1.75% | 2.22% | 2.10% | 2.38% | 2.25% | 2.97% | 2.77% | 2.39% | 2.53% |
Frequently Asked Questions
SPMD and SPYV have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMD has higher volatility (5.07%) compared to SPYV (2.70%). In terms of maximum drawdown, SPMD dropped -57.62% vs SPYV's -58.45%.
On 10-year performance, SPYV leads with 12.08% vs 11.78% for SPMD. On fees, SPYV is cheaper at 0.04% per year. On volatility, SPYV has been the lower-risk option at 2.70%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, SPYV has performed better with a 12.08% return vs 11.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPYV is cheaper with a 0.04% expense ratio, compared with 0.05% for SPMD.
SPYV has the higher dividend yield at 1.68%, compared with 1.21% for SPMD.
SPMD is categorized as Mid Cap Blend Equities, while SPYV is S&P 500. SPMD tracks S&P MidCap 400 Index, while SPYV tracks S&P 500 Value Index. Their fees differ too: 0.05% for SPMD and 0.04% for SPYV.
SPYV currently has the higher Sharpe Ratio (2.08 vs 1.64), 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 SPYV
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