MDY vs SPMD
State Street SPDR S&P MIDCAP 400 ETF Trust vs State Street SPDR Portfolio S&P 400 Mid Cap ETF
Which is better, MDY or SPMD?
Nearly the same fund. SPMD costs less.
SPMD has a lower expense ratio. MDY led over the full window, SPMD over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.98. MDY is less concentrated, with 7.7% of the fund in its ten largest positions against 8.0%.
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 | MDY | SPMD |
|---|---|---|
| Expense Ratio | 0.23% | 0.03%Best |
| AUM | $26.0B | $18.4B |
| Dividend Yield | 1.07% | 1.33% |
| Holdings | 401 | 403 |
| YTD Return | +8.68% | +8.93%Best |
| 1Y Return | +12.18% | +12.51%Best |
| 3Y Return (annualized) | +14.66% | +14.86%Best |
| 5Y Return (annualized) | +6.98% | +7.18%Best |
| Volatility (annualized) | 17.9%Best | 18.6% |
| Max Drawdown | -56.3%Best | -60.5% |
| $10,000 over 5 years | $14,012 | $14,144Best |
| Top 10 Weight | 7.7%Best | 8.0% |
| Fund Family | State Street Investment Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Blend | Mid Cap Blend |
| Inception | May 4, 1995 | Nov 8, 2005 |
Volatility and max drawdown are measured over the window both funds cover: Nov 15, 2005 to Oct 14, 2026 (20.9 years).
MDY vs SPMD 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 20.9 years both funds cover.
MDY vs SPMD Performance
State Street SPDR S&P MIDCAP 400 ETF Trust (MDY) is an ETF from State Street Investment Management and State Street SPDR Portfolio S&P 400 Mid Cap ETF (SPMD) is an ETF from State Street Investment Management. Over the past year MDY returned +12.18% while SPMD returned +12.51%. Year to date, MDY is up 8.68% versus a gain of 8.93% for SPMD.
Over three years, MDY compounded at +14.66% per year against +14.86% for SPMD; over five years the annualized figures are +6.98% and +7.18% respectively. Across the full 21-year window we track, MDY has the edge at +8.39% annualized vs +7.01%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPMD has been the more volatile fund, with annualized monthly volatility of 18.6% compared with 17.9% for MDY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -56.3% for MDY and -60.5% for SPMD. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.98. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
MDY charges 0.23% per year while SPMD charges 0.03%. On a $10,000 position that is $23 vs $3 annually, a gap of $20 per year that compounds over a long holding period. On income, MDY currently yields 1.07% against 1.33% for SPMD.
Holdings Overlap
96.9% of MDY's money is in holdings SPMD also owns. 98.1% of SPMD's money is in holdings MDY also owns.
Most of SPMD is already inside MDY. Owning both mostly buys the same companies twice.
394 positions in common, counted across the 400 positions we hold weights for in MDY and 400 in SPMD, against full books of 401 and 403.
What only one of them owns
Our book lists 5 positions for SPMD that do not appear in our book for MDY (1.6% of the fund), and 5 for MDY that do not appear in SPMD (2.0%).
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 MDY | Weight in SPMD | Difference |
|---|---|---|---|
| TWLOTwilio Inc. Class A | 0.97% | 1.31% | 0.34% |
| OKTAOkta Inc. | 0.79% | 1.02% | 0.23% |
| 0RMV:LNTechnipfmc Plc Ordinary Shares | 0.86% | 0.78% | 0.08% |
| NVT:IENvent Electric Plc Ordinary Shares | 0.74% | 0.79% | 0.05% |
| ATIAti Inc | 0.76% | 0.76% | 0.00% |
| ENTGEntegris Inc Common Stock Usd 0.01 | 0.60% | 0.74% | 0.14% |
| UTHRUnited Therapeutics Corp | 0.59% | 0.67% | 0.08% |
| THCTenet Healthcare Corp Common Stock Usd 0.05 | 0.64% | 0.60% | 0.04% |
| XPOXpo Logistics Inc. | 0.60% | 0.63% | 0.03% |
| SNXSynnex Corp | 0.57% | 0.64% | 0.07% |
98.1% of SPMD 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, MDY or SPMD?
MDY has an expense ratio of 0.23% while SPMD charges 0.03%. SPMD is the cheaper option, by $20 a year on a $10,000 investment.
Which performed better, MDY or SPMD?
Over the past year MDY returned +12.18% vs +12.51% for SPMD, so SPMD leads on 1-year performance. Over the longest common window we track (21 years), MDY annualized +8.39% vs +7.01% for SPMD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MDY or SPMD?
SPMD has been the more volatile fund at 18.6% annualized versus 17.9% for MDY. Worst drawdown: MDY -56.3% vs SPMD -60.5%.
Should I hold both MDY and SPMD?
MDY and SPMD have a monthly-return correlation of 0.98, 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 MDY and SPMD?
98.1% of SPMD's money is in holdings MDY also owns. 98.1% of SPMD's is in holdings MDY also owns. They hold 394 positions in common, counted across the 400 positions we hold weights for in MDY and 400 in SPMD.
Which pays a higher dividend, MDY or SPMD?
MDY yields 1.07% while SPMD yields 1.33%, so SPMD currently pays the higher dividend yield.
Is SPMD better than MDY?
SPMD has a lower expense ratio. MDY led over the full window, SPMD over 1Y, 3Y and 5Y. The two have moved almost in lockstep, correlation 0.98. MDY is less concentrated, with 7.7% of the fund in its ten largest positions against 8.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.