USMF vs. SPMD
USMF (WisdomTree US Multifactor Fund) and SPMD (SPDR Portfolio S&P 400 Mid Cap ETF) are both Mid Cap Blend Equities funds - USMF tracks the WisdomTree US Multifactor Index while SPMD tracks the S&P MidCap 400 Index. Both are passively managed. Over the past 5 years, USMF returned 7.67%/yr vs 8.20%/yr for SPMD. Their correlation of 0.87 suggests significant overlap in exposure. USMF charges 0.28%/yr vs 0.05%/yr for SPMD.
Performance
USMF vs. SPMD - Performance Comparison
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Returns By Period
In the year-to-date period, USMF achieves a 4.36% return, which is significantly lower than SPMD's 14.16% return.
USMF
- 1D
- -0.56%
- 1M
- 3.76%
- YTD
- 4.36%
- 6M
- 4.80%
- 1Y
- 6.28%
- 3Y*
- 14.13%
- 5Y*
- 7.67%
- 10Y*
- —
SPMD
- 1D
- -0.08%
- 1M
- 3.86%
- YTD
- 14.16%
- 6M
- 14.41%
- 1Y
- 25.49%
- 3Y*
- 16.15%
- 5Y*
- 8.20%
- 10Y*
- 11.51%
USMF vs. SPMD - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
USMF WisdomTree US Multifactor Fund | 4.36% | 4.60% | 19.65% | 13.47% | -8.82% | 21.26% | 12.01% | 24.06% | -4.72% | 11.27% |
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 14.16% | 7.44% | 13.91% | 16.48% | -13.13% | 24.76% | 13.46% | 25.19% | -10.34% | 12.82% |
Correlation
The correlation between USMF and SPMD is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.89 |
Correlation (All Time) Calculated using the full available price history since Aug 25, 2017 | 0.87 |
The correlation between USMF and SPMD shifts across timeframes, from 0.75 (1 year) to 0.89 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
USMF vs. SPMD — Risk / Return Rank
USMF
SPMD
USMF vs. SPMD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree US Multifactor Fund (USMF) 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.
| USMF | SPMD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.06 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.29 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.98 | 2.89 | -1.92 |
| Martin ratioReturn relative to average drawdown | 2.93 | 10.61 | -7.68 |
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
| USMF | SPMD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.58 | 1.65 | -1.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.42 | +0.12 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.55 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.45 | +0.17 |
Drawdowns
USMF vs. SPMD - Drawdown Comparison
The maximum USMF drawdown since its inception was -36.24%, smaller than the maximum SPMD drawdown of -57.62%. Use the drawdown chart below to compare losses from any high point for USMF and SPMD.
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Drawdown Indicators
| USMF | SPMD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.24% | -57.62% | +21.38% |
Max Drawdown (1Y)Largest decline over 1 year | -6.47% | -8.86% | +2.39% |
Max Drawdown (3Y)Largest decline over 3 years | -15.39% | -24.08% | +8.69% |
Max Drawdown (5Y)Largest decline over 5 years | -18.10% | -24.08% | +5.98% |
Max Drawdown (10Y)Largest decline over 10 years | — | -41.86% | — |
Current DrawdownCurrent decline from peak | -0.56% | -0.08% | -0.48% |
Average DrawdownAverage peak-to-trough decline | -4.16% | -8.12% | +3.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 2.41% | -0.26% |
Volatility
USMF vs. SPMD - Volatility Comparison
The current volatility for WisdomTree US Multifactor Fund (USMF) is 2.30%, while SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) has a volatility of 4.38%. This indicates that USMF 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
| USMF | SPMD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.30% | 4.38% | -2.08% |
Volatility (6M)Calculated over the trailing 6-month period | 7.43% | 11.37% | -3.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.79% | 15.57% | -4.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.27% | 19.70% | -5.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.97% | 21.18% | -4.21% |
USMF vs. SPMD - Expense Ratio Comparison
USMF has a 0.28% expense ratio, which is higher than SPMD's 0.05% expense ratio.
Dividends
USMF vs. SPMD - Dividend Comparison
USMF's dividend yield for the trailing twelve months is around 1.32%, more than SPMD's 1.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPMD SPDR Portfolio S&P 400 Mid Cap ETF | 1.23% | 1.39% | 1.42% | 1.47% | 1.64% | 1.24% | 1.30% | 1.57% | 1.85% | 1.97% | 2.13% | 5.33% |
USMF WisdomTree US Multifactor Fund | 1.32% | 1.37% | 1.22% | 1.33% | 1.74% | 1.42% | 1.34% | 1.38% | 1.45% | 0.67% | 0.00% | 0.00% |
Frequently Asked Questions
USMF and SPMD have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPMD has higher volatility (4.38%) compared to USMF (2.30%). In terms of maximum drawdown, USMF dropped -36.24% vs SPMD's -57.62%.
On 5-year performance, SPMD leads with 8.20% vs 7.67% for USMF. On fees, SPMD is cheaper at 0.05% per year. On volatility, USMF has been the lower-risk option at 2.30%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, SPMD has performed better with a 8.20% return vs 7.67%. 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 0.28% for USMF.
USMF has the higher dividend yield at 1.32%, compared with 1.23% for SPMD.
USMF tracks WisdomTree US Multifactor Index, while SPMD tracks S&P MidCap 400 Index. They also come from different issuers: WisdomTree and State Street. Their fees differ too: 0.28% for USMF and 0.05% for SPMD.
SPMD currently has the higher Sharpe Ratio (1.65 vs 0.58), 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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