SPY4.DE vs. SPMD
SPY4.DE (SPDR S&P 400 US Mid Cap UCITS ETF) and SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) are both Mid Cap Blend Equities funds from State Street - SPY4.DE tracks the S&P MidCap 400 while SPMD tracks the S&P MidCap 400 Index. Both are passively managed. Over the past 10 years, SPY4.DE returned 11.05%/yr vs 11.80%/yr for SPMD. A 0.66 correlation means they provide meaningful diversification when combined. SPY4.DE charges 0.30%/yr vs 0.03%/yr for SPMD.
Performance
SPY4.DE vs. SPMD - Performance Comparison
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Different Trading Currencies
SPY4.DE is traded in EUR, while SPMD is traded in USD. To make them comparable, the SPMD values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, SPY4.DE achieves a 17.82% return, which is significantly lower than SPMD's 19.72% return. Over the past 10 years, SPY4.DE has underperformed SPMD with an annualized return of 11.05%, while SPMD has yielded a comparatively higher 11.80% annualized return.
SPY4.DE
- 1D
- -0.46%
- 1M
- 4.63%
- YTD
- 17.82%
- 6M
- 17.81%
- 1Y
- 28.05%
- 3Y*
- 13.76%
- 5Y*
- 9.07%
- 10Y*
- 11.05%
SPMD
- 1D
- -0.43%
- 1M
- 4.93%
- YTD
- 19.72%
- 6M
- 17.57%
- 1Y
- 28.20%
- 3Y*
- 14.22%
- 5Y*
- 9.58%
- 10Y*
- 11.80%
SPY4.DE vs. SPMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPY4.DE SPDR S&P 400 US Mid Cap UCITS ETF | 17.82% | -3.63% | 18.67% | 13.23% | -8.82% | 35.58% | 2.35% | 29.20% | -8.77% | 1.67% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 19.72% | -5.31% | 21.43% | 12.98% | -7.74% | 34.10% | 4.10% | 28.02% | -6.14% | 0.97% |
Correlation
The correlation between SPY4.DE and SPMD is 0.69, 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 | 0.69 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.67 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.65 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 2012 | 0.66 |
The correlation between SPY4.DE and SPMD has been stable across timeframes, ranging from 0.64 to 0.69 - a consistent structural relationship.
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Return for Risk
SPY4.DE vs. SPMD — Risk / Return Rank
SPY4.DE
SPMD
SPY4.DE vs. SPMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR S&P 400 US Mid Cap UCITS ETF (SPY4.DE) and SPDR Portfolio S&P 400 Mid Cap ETF (SPMD). 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.
| SPY4.DE | SPMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.09 | ||
| Sortino ratioReturn per unit of downside risk | +0.16 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.32 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 4.60 | 3.77 | +0.83 |
| Martin ratioReturn relative to average drawdown | 14.13 | 13.05 | +1.08 |
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Drawdowns
SPY4.DE vs. SPMD - Drawdown Comparison
The maximum SPY4.DE drawdown since its inception was -42.71%, smaller than the maximum SPMD drawdown of -52.02%. Use the drawdown chart below to compare losses from any high point for SPY4.DE and SPMD.
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Drawdown Indicators
| SPY4.DE | SPMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.71% | -52.02% | +9.31% |
Max Drawdown (1Y)Largest decline over 1 year | -6.07% | -7.50% | +1.43% |
Max Drawdown (3Y)Largest decline over 3 years | -29.11% | -27.51% | -1.60% |
Max Drawdown (5Y)Largest decline over 5 years | -29.11% | -27.51% | -1.60% |
Max Drawdown (10Y)Largest decline over 10 years | -42.71% | -41.55% | -1.16% |
Current DrawdownCurrent decline from peak | -0.46% | -0.43% | -0.03% |
Average DrawdownAverage peak-to-trough decline | -5.84% | -8.87% | +3.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 2.17% | -0.19% |
Volatility
SPY4.DE vs. SPMD - Volatility Comparison
The current volatility for SPDR S&P 400 US Mid Cap UCITS ETF (SPY4.DE) is 2.60%, while SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a volatility of 3.79%. This indicates that SPY4.DE experiences smaller price fluctuations and is considered to be less risky than SPMD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SPY4.DE | SPMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.60% | 3.79% | -1.19% |
Volatility (6M)Calculated over the trailing 6-month period | 10.01% | 11.24% | -1.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.58% | 15.51% | -0.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.35% | 19.24% | -0.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.47% | 21.41% | -1.94% |
SPY4.DE vs. SPMD - Expense Ratio Comparison
SPY4.DE has a 0.30% expense ratio, which is higher than SPMD's 0.03% expense ratio.
Dividends
SPY4.DE vs. SPMD - Dividend Comparison
SPY4.DE has not paid dividends to shareholders, while SPMD's dividend yield for the trailing twelve months is around 1.21%.
| 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% |
SPY4.DE SPDR S&P 400 US Mid Cap UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SPY4.DE and SPMD have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPMD is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPMD is cheaper with a 0.03% expense ratio, compared with 0.30% for SPY4.DE.
SPY4.DE tracks S&P MidCap 400, while SPMD tracks S&P MidCap 400 Index. Their fees differ too: 0.30% for SPY4.DE and 0.03% for SPMD.
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