SPMD vs. VTV
SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) and VTV (Vanguard Value ETF) are both exchange-traded funds - SPMD is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 Index, while VTV is a Large Cap Value Equities fund tracking the CRSP US Large Cap Value Index. Both are passively managed. Over the past 10 years, SPMD returned 11.78%/yr vs 12.78%/yr for VTV. Their correlation of 0.82 suggests significant overlap in exposure. SPMD charges 0.05%/yr vs 0.04%/yr for VTV.
Performance
SPMD vs. VTV - Performance Comparison
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Returns By Period
In the year-to-date period, SPMD achieves a 15.51% return, which is significantly higher than VTV's 14.29% return. Over the past 10 years, SPMD has underperformed VTV with an annualized return of 11.78%, while VTV has yielded a comparatively higher 12.78% annualized return.
SPMD
- 1D
- 0.73%
- 1M
- 5.31%
- YTD
- 15.51%
- 6M
- 14.03%
- 1Y
- 27.96%
- 3Y*
- 15.42%
- 5Y*
- 8.28%
- 10Y*
- 11.78%
VTV
- 1D
- 0.93%
- 1M
- 5.04%
- YTD
- 14.29%
- 6M
- 13.99%
- 1Y
- 27.90%
- 3Y*
- 18.16%
- 5Y*
- 11.76%
- 10Y*
- 12.78%
SPMD vs. VTV - 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% |
VTV Vanguard Value ETF | 14.29% | 15.27% | 15.95% | 9.32% | -2.09% | 26.53% | 2.33% | 25.66% | -5.47% | 17.15% |
Correlation
The correlation between SPMD and VTV is 0.83, 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 | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.87 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.85 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2005 | 0.82 |
The correlation between SPMD and VTV has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.
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Return for Risk
SPMD vs. VTV — Risk / Return Rank
SPMD
VTV
SPMD vs. VTV - 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 Value ETF (VTV). 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 | VTV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.97 | ||
| Sortino ratioReturn per unit of downside risk | -1.32 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.47 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.95 | 4.25 | -1.31 |
| Martin ratioReturn relative to average drawdown | 10.81 | 16.04 | -5.23 |
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Drawdowns
SPMD vs. VTV - Drawdown Comparison
The maximum SPMD drawdown since its inception was -57.62%, roughly equal to the maximum VTV drawdown of -59.27%. Use the drawdown chart below to compare losses from any high point for SPMD and VTV.
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Drawdown Indicators
| SPMD | VTV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.62% | -59.27% | +1.65% |
Max Drawdown (1Y)Largest decline over 1 year | -8.86% | -6.35% | -2.51% |
Max Drawdown (3Y)Largest decline over 3 years | -24.08% | -14.52% | -9.56% |
Max Drawdown (5Y)Largest decline over 5 years | -24.08% | -17.04% | -7.04% |
Max Drawdown (10Y)Largest decline over 10 years | -41.86% | -36.78% | -5.08% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -8.11% | -7.86% | -0.25% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | 1.68% | +0.73% |
Volatility
SPMD vs. VTV - Volatility Comparison
SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a higher volatility of 5.07% compared to Vanguard Value ETF (VTV) at 3.34%. This indicates that SPMD's price experiences larger fluctuations and is considered to be riskier than VTV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPMD | VTV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.07% | 3.34% | +1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 11.77% | 7.82% | +3.95% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.91% | 10.38% | +5.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.75% | 13.92% | +5.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 16.68% | +4.52% |
SPMD vs. VTV - Expense Ratio Comparison
SPMD has a 0.05% expense ratio, which is higher than VTV'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. VTV - Dividend Comparison
SPMD's dividend yield for the trailing twelve months is around 1.21%, less than VTV's 1.83% 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% |
VTV Vanguard Value ETF | 1.83% | 2.05% | 2.31% | 2.46% | 2.52% | 2.15% | 2.56% | 2.50% | 2.73% | 2.29% | 2.44% | 2.60% |
Frequently Asked Questions
SPMD and VTV have a correlation of 0.83, 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 VTV (3.34%). In terms of maximum drawdown, SPMD dropped -57.62% vs VTV's -59.27%.
On 10-year performance, VTV leads with 12.78% vs 11.78% for SPMD. On fees, VTV is cheaper at 0.04% per year. On volatility, VTV has been the lower-risk option at 3.34%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VTV has performed better with a 12.78% return vs 11.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTV is cheaper with a 0.04% expense ratio, compared with 0.05% for SPMD.
VTV has the higher dividend yield at 1.83%, compared with 1.21% for SPMD.
SPMD is categorized as Mid Cap Blend Equities, while VTV is Large Cap Value Equities. SPMD tracks S&P MidCap 400 Index, while VTV tracks CRSP US Large Cap Value Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.05% for SPMD and 0.04% for VTV.
VTV currently has the higher Sharpe Ratio (2.61 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.
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