SPMD vs. VFMV
SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) and VFMV (Vanguard U.S. Minimum Volatility ETF) are both Mid Cap Blend Equities funds. SPMD is passively managed, while VFMV is actively managed. Over the past 5 years, SPMD returned 8.28%/yr vs 9.87%/yr for VFMV. Their correlation of 0.80 suggests significant overlap in exposure. SPMD charges 0.05%/yr vs 0.13%/yr for VFMV.
Performance
SPMD vs. VFMV - Performance Comparison
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Returns By Period
In the year-to-date period, SPMD achieves a 14.54% return, which is significantly higher than VFMV's 8.76% 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%
VFMV
- 1D
- 0.21%
- 1M
- 0.96%
- YTD
- 8.76%
- 6M
- 8.41%
- 1Y
- 13.49%
- 3Y*
- 15.06%
- 5Y*
- 9.87%
- 10Y*
- —
SPMD vs. VFMV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% | -10.42% |
VFMV Vanguard U.S. Minimum Volatility ETF | 8.76% | 10.52% | 16.91% | 8.86% | -5.73% | 20.75% | -0.19% | 27.26% | -1.10% |
Correlation
The correlation between SPMD and VFMV is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.78 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.79 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Feb 16, 2018 | 0.80 |
The correlation between SPMD and VFMV has been stable across timeframes, ranging from 0.78 to 0.80 - a consistent structural relationship.
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Return for Risk
SPMD vs. VFMV — Risk / Return Rank
SPMD
VFMV
SPMD vs. VFMV - 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 Vanguard U.S. Minimum Volatility ETF (VFMV). 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 | VFMV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.16 | ||
| Sortino ratioReturn per unit of downside risk | +0.23 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.27 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.97 | 2.26 | +0.72 |
| Martin ratioReturn relative to average drawdown | 10.91 | 8.85 | +2.06 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPMD | VFMV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.70 | 1.54 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.42 | 0.84 | -0.42 |
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 | 0.70 | -0.24 |
Drawdowns
SPMD vs. VFMV - Drawdown Comparison
The maximum SPMD drawdown since its inception was -57.62%, which is greater than VFMV's maximum drawdown of -33.64%. Use the drawdown chart below to compare losses from any high point for SPMD and VFMV.
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Drawdown Indicators
| SPMD | VFMV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.62% | -33.64% | -23.98% |
Max Drawdown (1Y)Largest decline over 1 year | -8.86% | -6.00% | -2.86% |
Max Drawdown (3Y)Largest decline over 3 years | -24.08% | -10.35% | -13.73% |
Max Drawdown (5Y)Largest decline over 5 years | -24.08% | -15.41% | -8.67% |
Max Drawdown (10Y)Largest decline over 10 years | -41.86% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.81% | +0.81% |
Average DrawdownAverage peak-to-trough decline | -8.12% | -3.64% | -4.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 1.53% | +0.88% |
Volatility
SPMD vs. VFMV - Volatility Comparison
SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a higher volatility of 4.23% compared to Vanguard U.S. Minimum Volatility ETF (VFMV) at 2.04%. This indicates that SPMD's price experiences larger fluctuations and is considered to be riskier than VFMV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMD | VFMV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.23% | 2.04% | +2.19% |
Volatility (6M)Calculated over the trailing 6-month period | 11.36% | 6.30% | +5.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.53% | 8.80% | +6.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.70% | 11.75% | +7.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.18% | 14.25% | +6.93% |
SPMD vs. VFMV - Expense Ratio Comparison
SPMD has a 0.05% expense ratio, which is lower than VFMV's 0.13% 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%.
Dividends
SPMD vs. VFMV - Dividend Comparison
SPMD's dividend yield for the trailing twelve months is around 1.22%, less than VFMV's 1.93% 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% |
VFMV Vanguard U.S. Minimum Volatility ETF | 1.93% | 2.12% | 1.46% | 2.20% | 2.08% | 1.31% | 2.14% | 2.43% | 2.29% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPMD and VFMV have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMD has higher volatility (4.23%) compared to VFMV (2.04%). In terms of maximum drawdown, SPMD dropped -57.62% vs VFMV's -33.64%.
On 5-year performance, VFMV leads with 9.87% vs 8.28% for SPMD. On fees, SPMD is cheaper at 0.05% per year. On volatility, VFMV has been the lower-risk option at 2.04%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VFMV has performed better with a 9.87% return vs 8.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SPMD is cheaper with a 0.05% expense ratio, compared with 0.13% for VFMV.
VFMV has the higher dividend yield at 1.93%, compared with 1.22% for SPMD.
They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.05% for SPMD and 0.13% for VFMV.
SPMD currently has the higher Sharpe Ratio (1.70 vs 1.54), 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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