IVOV vs MDYV
Vanguard S&P Mid-Cap 400 Value ETF vs State Street SPDR S&P 400 Mid Cap Value ETF
Which is better, IVOV or MDYV?
Nearly the same fund. IVOV costs less.
IVOV has a lower expense ratio. IVOV led over 3Y, 5Y and the full window, MDYV over 1Y. The two have moved almost in lockstep, correlation 1.00. IVOV is less concentrated, with 10.7% of the fund in its ten largest positions against 11.3%.
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 | IVOV | MDYV |
|---|---|---|
| Expense Ratio | 0.10%Best | 0.15% |
| AUM | $1.4B | $2.8B |
| Dividend Yield | 1.62% | 1.70% |
| Holdings | 305 | 595 |
| YTD Return | +12.36% | +12.39%Best |
| 1Y Return | +16.38% | +16.46%Best |
| 3Y Return (annualized) | +16.89%Best | +16.64% |
| 5Y Return (annualized) | +7.55%Best | +7.42% |
| Volatility (annualized) | 18.2%Tie | 18.2%Tie |
| Max Drawdown | -46.0%Best | -46.4% |
| $10,000 over 5 years | $14,390Best | $14,303 |
| Top 10 Weight | 10.7%Best | 11.3% |
| Fund Family | Vanguard (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | Mid Cap Value |
| Inception | Sep 7, 2010 | Nov 8, 2005 |
Volatility and max drawdown are measured over the window both funds cover: Sep 9, 2010 to Nov 11, 2026 (16.2 years).
IVOV vs MDYV 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 16.2 years both funds cover.
IVOV vs MDYV Performance
Vanguard S&P Mid-Cap 400 Value ETF (IVOV) is an ETF from Vanguard (US) and State Street SPDR S&P 400 Mid Cap Value ETF (MDYV) is an ETF from State Street Investment Management. Over the past year IVOV returned +16.38% while MDYV returned +16.46%. Year to date, IVOV is up 12.36% versus a gain of 12.39% for MDYV.
Over three years, IVOV compounded at +16.89% per year against +16.64% for MDYV; over five years the annualized figures are +7.55% and +7.42% respectively. Across the full 16-year window we track, IVOV has the edge at +11.54% annualized vs +9.53%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
IVOV and MDYV have been equally volatile, both at 18.2% annualized.
The deepest peak-to-trough decline in our data was -46.0% for IVOV and -46.4% for MDYV. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 1.00. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IVOV charges 0.10% per year while MDYV charges 0.15%. On a $10,000 position that is $10 vs $15 annually, a gap of $5 per year that compounds over a long holding period. On income, IVOV currently yields 1.62% against 1.70% for MDYV.
Holdings Overlap
97.9% of IVOV's money is in holdings MDYV also owns. 97.6% of MDYV's money is in holdings IVOV also owns.
Most of IVOV is already inside MDYV. Owning both mostly buys the same companies twice.
290 positions in common, counted across the 295 positions we hold weights for in IVOV and 297 in MDYV, against full books of 305 and 595.
What only one of them owns
Our book lists 3 positions for MDYV that do not appear in our book for IVOV (0.9% of the fund), and 5 for IVOV that do not appear in MDYV (1.5%).
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 IVOV | Weight in MDYV | Difference |
|---|---|---|---|
| SNXSynnex Corp | 1.27% | 1.28% | 0.01% |
| USFDUS Foods Holding Corp | 1.23% | 1.29% | 0.06% |
| RSReliance Steel & Aluminum Co. | 1.21% | 1.26% | 0.05% |
| PRPermian Resource | 1.09% | 1.22% | 0.13% |
| DINOHollyfrontier | 1.03% | 1.20% | 0.17% |
| WCCWesco International Inc | 1.08% | 1.04% | 0.04% |
| OVVOvintiv Inc. | 0.99% | 1.12% | 0.13% |
| RGAReinsurance Group of America, Incorporated | 0.99% | 1.04% | 0.05% |
| SNSharkninja Inc | 0.93% | 0.94% | 0.01% |
| PFGCPerformance Food Group Co | 0.89% | 0.91% | 0.02% |
97.9% of IVOV is already inside MDYV.
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, IVOV or MDYV?
IVOV has an expense ratio of 0.10% while MDYV charges 0.15%. IVOV is the cheaper option, by $5 a year on a $10,000 investment.
Which performed better, IVOV or MDYV?
Over the past year IVOV returned +16.38% vs +16.46% for MDYV, so MDYV leads on 1-year performance. Over the longest common window we track (16 years), IVOV annualized +11.54% vs +9.53% for MDYV. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, IVOV or MDYV?
IVOV and MDYV have been equally volatile, both at 18.2% annualized. Worst drawdown: IVOV -46.0% vs MDYV -46.4%.
Should I hold both IVOV and MDYV?
IVOV and MDYV have a monthly-return correlation of 1.00, 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 IVOV and MDYV?
97.9% of IVOV's money is in holdings MDYV also owns. 97.6% of MDYV's is in holdings IVOV also owns. They hold 290 positions in common, counted across the 295 positions we hold weights for in IVOV and 297 in MDYV.
Which pays a higher dividend, IVOV or MDYV?
IVOV yields 1.62% while MDYV yields 1.70%, so MDYV currently pays the higher dividend yield.
Is MDYV better than IVOV?
IVOV has a lower expense ratio. IVOV led over 3Y, 5Y and the full window, MDYV over 1Y. The two have moved almost in lockstep, correlation 1.00. IVOV is less concentrated, with 10.7% of the fund in its ten largest positions against 11.3%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.