MDYG vs SPY
State Street SPDR S&P 400 Mid Cap Growth ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. MDYG delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | MDYG | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.15% | 0.09% | |
| AUM | $3.0B | $821.1B | |
| Dividend Yield | 0.59% | 1.01% | |
| Holdings | 247 | 505 | |
| YTD Return | +21.31% | +14.24% | |
| 1Y Return | +27.97% | +21.71% | |
| 3Y Return (annualized) | +17.21% | +22.10% | |
| 5Y Return (annualized) | +8.75% | +13.21% | |
| Volatility (annualized) | 18.3% | 15.3% | |
| Max Drawdown | -59.3% | -56.5% | |
| Fund Family | State Street Investment Management | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Nov 8, 2005 | Jan 22, 1993 |
MDYG vs SPY Performance
State Street SPDR S&P 400 Mid Cap Growth ETF (MDYG) is a ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year MDYG returned +27.97% while SPY returned +21.71%. Year to date, MDYG is up 21.31% versus a gain of 14.24% for SPY.
Over three years, MDYG compounded at +17.21% per year against +22.10% for SPY; over five years the annualized figures are +8.75% and +13.21% respectively. Across the full 21-year window we track, MDYG has the edge at +9.47% annualized vs +8.86%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MDYG has been the more volatile fund, with annualized monthly volatility of 18.3% compared with 15.3% for SPY. 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 -59.3% for MDYG and -56.5% for SPY. 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
MDYG charges 0.15% per year while SPY charges 0.09%. On a $10,000 position that is $15 vs $9 annually, a gap of $6 per year that compounds over a long holding period. On income, MDYG currently yields 0.59% against 1.01% for SPY.
Holdings Overlap
MDYG and SPY share 0 holdings out of 750 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MDYG or SPY?
MDYG has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $6 per year of difference.
Which performed better, MDYG or SPY?
Over the past year MDYG returned +27.97% vs +21.71% for SPY, so MDYG leads on 1-year performance. Over the longest common window we track (21 years), MDYG annualized +9.47% vs +8.86% for SPY. Past performance does not guarantee future results.
Which is riskier, MDYG or SPY?
MDYG has been the more volatile fund at 18.3% annualized versus 15.3% for SPY. Worst drawdown: MDYG -59.3% vs SPY -56.5%.
Should I hold both MDYG and SPY?
MDYG and SPY 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 MDYG and SPY?
MDYG and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 750 unique securities.
Which pays a higher dividend, MDYG or SPY?
MDYG yields 0.59% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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