AFMC vs MDY
First Trust Active Factor Mid Cap ETF vs State Street SPDR S&P MIDCAP 400 ETF Trust
Which is better, AFMC or MDY?
Nearly the same fund. MDY costs less.
MDY has a lower expense ratio. AFMC led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. MDY is less concentrated, with 7.7% of the fund in its ten largest positions against 12.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | AFMC | MDY |
|---|---|---|
| Expense Ratio | 0.65% | 0.23%Best |
| AUM | $236M | $26.0B |
| Dividend Yield | 0.71% | 1.07% |
| Holdings | 529 | 401 |
| YTD Return | +14.82%Best | +8.68% |
| 1Y Return | +19.13%Best | +12.18% |
| 3Y Return (annualized) | +20.32%Best | +14.66% |
| 5Y Return (annualized) | +10.47%Best | +6.98% |
| Volatility (annualized) | 20.2%Tie | 20.2%Tie |
| Max Drawdown | -42.1%Best | -42.5% |
| $10,000 over 5 years | $16,452Best | $14,012 |
| Top 10 Weight | 12.0% | 7.7%Best |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Mid Cap Blend |
| Inception | Dec 4, 2019 | May 4, 1995 |
Volatility and max drawdown are measured over the window both funds cover: Dec 4, 2019 to Oct 14, 2026 (6.9 years).
AFMC vs MDY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 6.9 years both funds cover.
AFMC vs MDY Performance
First Trust Active Factor Mid Cap ETF (AFMC) is an ETF from First Trust Portfolios (US) and State Street SPDR S&P MIDCAP 400 ETF Trust (MDY) is an ETF from State Street Investment Management. Over the past year AFMC returned +19.13% while MDY returned +12.18%. Year to date, AFMC is up 14.82% versus a gain of 8.68% for MDY.
Over three years, AFMC compounded at +20.32% per year against +14.66% for MDY; over five years the annualized figures are +10.47% and +6.98% respectively. Across the full 7-year window we track, AFMC has the edge at +11.52% annualized vs +10.09%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
AFMC and MDY have been equally volatile, both at 20.2% annualized.
The deepest peak-to-trough decline in our data was -42.1% for AFMC and -42.5% for MDY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.99. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
AFMC charges 0.65% per year while MDY charges 0.23%. On a $10,000 position that is $65 vs $23 annually, a gap of $42 per year that compounds over a long holding period. On income, AFMC currently yields 0.71% against 1.07% for MDY.
Holdings Overlap
60.0% of AFMC's money is in holdings MDY also owns. 39.8% of MDY's money is in holdings AFMC also owns.
The two portfolios partly overlap.
145 positions in common, counted across the 264 positions we hold weights for in AFMC and 400 in MDY, against full books of 529 and 401.
What only one of them owns
Our book lists 250 positions for MDY that do not appear in our book for AFMC (57.6% of the fund), and 117 for AFMC that do not appear in MDY (37.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in AFMC | Weight in MDY | Difference |
|---|---|---|---|
| RSReliance Steel & Aluminum Co. | 1.70% | 0.57% | 1.13% |
| DINOHf Sinclair Corporation | 1.44% | 0.47% | 0.97% |
| 0RMV:LNTechnipfmc Plc Ordinary Shares | 0.93% | 0.86% | 0.07% |
| ATIATI Inc | 0.92% | 0.76% | 0.16% |
| SNXSynnex Corp | 1.05% | 0.57% | 0.48% |
| TWLOTwilio Inc. Class A | 0.60% | 0.97% | 0.37% |
| MLIMueller Industries Inc | 1.15% | 0.38% | 0.77% |
| EXELExelixis Inc | 1.11% | 0.40% | 0.71% |
| BWABorgwarner Inc. | 1.10% | 0.39% | 0.71% |
| RNR:BMRenaissancere Holdings Ltd Preferred Stock 6.08 | 1.03% | 0.39% | 0.64% |
60.0% of AFMC is already inside MDY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, AFMC or MDY?
AFMC has an expense ratio of 0.65% while MDY charges 0.23%. MDY is the cheaper option, by $42 a year on a $10,000 investment.
Which performed better, AFMC or MDY?
Over the past year AFMC returned +19.13% vs +12.18% for MDY, so AFMC leads on 1-year performance. Over the longest common window we track (7 years), AFMC annualized +11.52% vs +10.09% for MDY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, AFMC or MDY?
AFMC and MDY have been equally volatile, both at 20.2% annualized. Worst drawdown: AFMC -42.1% vs MDY -42.5%.
Should I hold both AFMC and MDY?
AFMC and MDY have a monthly-return correlation of 0.99, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between AFMC and MDY?
60.0% of AFMC's money is in holdings MDY also owns. 39.8% of MDY's is in holdings AFMC also owns. They hold 145 positions in common, counted across the 264 positions we hold weights for in AFMC and 400 in MDY.
Which pays a higher dividend, AFMC or MDY?
AFMC yields 0.71% while MDY yields 1.07%, so MDY currently pays the higher dividend yield.
Is MDY better than AFMC?
MDY has a lower expense ratio. AFMC led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.99. MDY is less concentrated, with 7.7% of the fund in its ten largest positions against 12.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.