IVV vs MDY
iShares Core S&P 500 ETF vs State Street SPDR S&P MIDCAP 400 ETF Trust
Quick Verdict
IVV has a lower expense ratio. MDY delivered stronger 1-year returns. IVV offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | IVV | MDY | Winner |
|---|---|---|---|
| Expense Ratio | 0.03% | 0.23% | |
| AUM | $865.2B | $26.7B | |
| Dividend Yield | 1.09% | 1.00% | |
| Holdings | 508 | 401 | |
| YTD Return | +13.72% | +17.00% | |
| 1Y Return | +21.64% | +23.68% | |
| 3Y Return (annualized) | +21.55% | +14.89% | |
| 5Y Return (annualized) | +13.27% | +8.68% | |
| Volatility (annualized) | 15.1% | 17.9% | |
| Max Drawdown | -56.5% | -56.3% | |
| Fund Family | iShares by BlackRock (US) | SPDR State Street Global Advisors | |
| Category | Equity | Equity | |
| Inception | May 15, 2000 | May 4, 1995 |
IVV vs MDY Performance
iShares Core S&P 500 ETF (IVV) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P MIDCAP 400 ETF Trust (MDY) is a ETF from SPDR State Street Global Advisors. Over the past year IVV returned +21.64% while MDY returned +23.68%. Year to date, IVV is up 13.72% versus a gain of 17.00% for MDY.
Over three years, IVV compounded at +21.55% per year against +14.89% for MDY; over five years the annualized figures are +13.27% and +8.68% respectively. Across the full 26-year window we track, MDY has the edge at +9.78% annualized vs +7.04%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MDY has been the more volatile fund, with annualized monthly volatility of 17.9% compared with 15.1% for IVV. 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 -56.5% for IVV and -56.3% for MDY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.91. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
IVV charges 0.03% per year while MDY charges 0.23%. On a $10,000 position that is $3 vs $23 annually, a gap of $20 per year that compounds over a long holding period. On income, IVV currently yields 1.09% against 1.00% for MDY.
Holdings Overlap
IVV and MDY share 1 holdings out of 902 unique holdings combined, representing a 0.3% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in IVV | Weight in MDY | Difference |
|---|---|---|---|
| NUVL | 0.62% | 0.32% | 0.30% |
Frequently Asked Questions
Which is cheaper, IVV or MDY?
IVV has an expense ratio of 0.03% while MDY charges 0.23%. IVV is the cheaper option. On a $10,000 investment, that is $20 per year of difference.
Which performed better, IVV or MDY?
Over the past year IVV returned +21.64% vs +23.68% for MDY, so MDY leads on 1-year performance. Over the longest common window we track (26 years), IVV annualized +7.04% vs +9.78% for MDY. Past performance does not guarantee future results.
Which is riskier, IVV or MDY?
MDY has been the more volatile fund at 17.9% annualized versus 15.1% for IVV. Worst drawdown: IVV -56.5% vs MDY -56.3%.
Should I hold both IVV and MDY?
IVV and MDY have a monthly-return correlation of 0.91, so they move almost identically. Holding both adds little diversification - most investors pick one, usually on fees or the specific index tracked.
What is the holdings overlap between IVV and MDY?
IVV and MDY share 1 common holdings with a 0.3% weight overlap. Combined, they hold 902 unique securities.
Which pays a higher dividend, IVV or MDY?
IVV yields 1.09% while MDY yields 1.00%, so IVV currently pays the higher dividend yield.
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