SPMD vs. TMCPX

Last updated Jun 5, 2026

SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) and TMCPX (Touchstone Mid Cap Fund) are both Mid Cap Blend Equities funds. Over the past 10 years, SPMD returned 11.39%/yr vs 10.62%/yr for TMCPX. Their correlation of 0.87 suggests significant overlap in exposure. SPMD charges 0.05%/yr vs 0.93%/yr for TMCPX.

Performance

SPMD vs. TMCPX - 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 Touchstone Mid Cap Fund (TMCPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPMD achieves a 14.54% return, which is significantly higher than TMCPX's -1.92% return. Over the past 10 years, SPMD has outperformed TMCPX with an annualized return of 11.39%, while TMCPX has yielded a comparatively lower 10.62% annualized return.

SPMD

• 1D: 0.33%
• 1M: 2.89%
• YTD: 14.54%
• 6M: 14.24%
• 1Y: 26.21%
• 3Y*: 16.67%
• 5Y*: 8.28%
• 10Y*: 11.39%

TMCPX

• 1D: 0.09%
• 1M: -0.63%
• YTD: -1.92%
• 6M: -1.79%
• 1Y: 5.27%
• 3Y*: 8.57%
• 5Y*: 4.91%
• 10Y*: 10.62%

*Multi-year figures are annualized to reflect compound growth (CAGR)

SPMD vs. TMCPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SPMD SPDR Portfolio S&P 400 Mid Cap ETF	14.54%	7.44%	13.91%	16.48%	-13.13%	24.76%	13.46%	25.19%	-10.34%	15.12%
TMCPX Touchstone Mid Cap Fund	-1.92%	4.87%	8.48%	27.48%	-15.62%	15.21%	12.56%	39.44%	-3.14%	20.23%

Correlation

The correlation between SPMD and TMCPX is 0.88, 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	0.88
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Nov 16, 2005	0.87

The correlation between SPMD and TMCPX has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

Return for Risk

SPMD vs. TMCPX — Risk / Return Rank

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

SPMD

SPMD Risk / Return Rank: 55
SPMD Sharpe Ratio Rank: 50
SPMD Sortino Ratio Rank: 52
SPMD Omega Ratio Rank: 48
SPMD Calmar Ratio Rank: 61
SPMD Martin Ratio Rank: 62

TMCPX

TMCPX Risk / Return Rank: 5
TMCPX Sharpe Ratio Rank: 5
TMCPX Sortino Ratio Rank: 5
TMCPX Omega Ratio Rank: 4
TMCPX Calmar Ratio Rank: 5
TMCPX Martin Ratio Rank: 5

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. TMCPX - 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 Touchstone Mid Cap Fund (TMCPX). 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.

	SPMD	TMCPX	Difference
Sharpe ratio: Return per unit of total volatility	1.70	0.29	+1.40
Sortino ratio: Return per unit of downside risk	2.47	0.55	+1.92
Omega ratio: Gain probability vs. loss probability	1.30	1.06	+0.24
Calmar ratio: Return relative to maximum drawdown	2.97	0.36	+2.62
Martin ratio: Return relative to average drawdown	10.91	0.97	+9.94
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. TMCPX - Sharpe Ratio Comparison

The current SPMD Sharpe Ratio is 1.70, which is higher than the TMCPX Sharpe Ratio of 0.29. The chart below compares the historical Sharpe Ratios of SPMD and TMCPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SPMD	TMCPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.70	0.29	+1.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.28	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.54	0.58	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.48	-0.03

Drawdowns

SPMD vs. TMCPX - Drawdown Comparison

The maximum SPMD drawdown since its inception was -57.62%, roughly equal to the maximum TMCPX drawdown of -58.03%. Use the drawdown chart below to compare losses from any high point for SPMD and TMCPX.

Drawdown Indicators

	SPMD	TMCPX	Difference
Max Drawdown Largest peak-to-trough decline	-57.62%	-58.03%	+0.41%
Max Drawdown (1Y) Largest decline over 1 year	-8.86%	-13.48%	+4.62%
Max Drawdown (3Y) Largest decline over 3 years	-24.08%	-21.47%	-2.61%
Max Drawdown (5Y) Largest decline over 5 years	-24.08%	-21.47%	-2.61%
Max Drawdown (10Y) Largest decline over 10 years	-41.86%	-35.54%	-6.32%
Current Drawdown Current decline from peak	0.00%	-7.81%	+7.81%
Average Drawdown Average peak-to-trough decline	-8.12%	-9.62%	+1.50%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	4.95%	-2.54%

Volatility

SPMD vs. TMCPX - Volatility Comparison

The current volatility for SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) is 4.23%, while Touchstone Mid Cap Fund (TMCPX) has a volatility of 4.78%. This indicates that SPMD experiences smaller price fluctuations and is considered to be less risky than TMCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPMD	TMCPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.23%	4.78%	-0.55%
Volatility (6M) Calculated over the trailing 6-month period	11.36%	12.69%	-1.33%
Volatility (1Y) Calculated over the trailing 1-year period	15.53%	16.37%	-0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.70%	17.84%	+1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.18%	18.50%	+2.68%

SPMD vs. TMCPX - Expense Ratio Comparison

SPMD has a 0.05% expense ratio, which is lower than TMCPX's 0.93% expense ratio.

Dividends

SPMD vs. TMCPX - Dividend Comparison

SPMD's dividend yield for the trailing twelve months is around 1.22%, less than TMCPX's 2.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
SPMD SPDR Portfolio S&P 400 Mid Cap ETF	1.22%	1.39%	1.42%	1.47%	1.64%	1.24%	1.30%	1.57%	1.85%	1.97%	2.13%	5.33%
TMCPX Touchstone Mid Cap Fund	2.25%	2.20%	2.52%	0.92%	1.43%	2.80%	1.93%	5.18%	3.95%	1.10%	0.58%	0.06%

Frequently Asked Questions

Can I hold both SPMD and TMCPX in my portfolio?

SPMD and TMCPX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SPMD or TMCPX?

TMCPX has higher volatility (4.78%) compared to SPMD (4.23%). In terms of maximum drawdown, SPMD dropped -57.62% vs TMCPX's -58.03%.

Which has better risk-adjusted returns?

SPMD currently has the higher Sharpe Ratio (1.70 vs 0.29), 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.