MDYV vs SPY
State Street SPDR S&P 400 Mid Cap Value ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, MDYV or SPY?
Mid Cap Value against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. MDYV is less concentrated, with 10.2% of the fund in its ten largest positions against 38.0%.
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 | MDYV | SPY |
|---|---|---|
| Expense Ratio | 0.15% | 0.09%Best |
| AUM | $2.8B | $804.7B |
| Dividend Yield | 1.67% | 0.98% |
| Holdings | 299 | 505 |
| YTD Return | +9.92% | +12.19%Best |
| 1Y Return | +13.14% | +18.53%Best |
| 3Y Return (annualized) | +13.45% | +20.88%Best |
| 5Y Return (annualized) | +8.49% | +12.69%Best |
| Volatility (annualized) | 19.0% | 15.1%Best |
| Max Drawdown | -62.6% | -56.5%Best |
| $10,000 over 5 years | $15,030 | $18,173Best |
| Top 10 Weight | 10.2%Best | 38.0% |
| Fund Family | State Street Investment Management | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Nov 8, 2005 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 15, 2005 to Sep 9, 2026 (20.8 years).
MDYV vs SPY 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 20.8 years both funds cover.
MDYV vs SPY Performance
State Street SPDR S&P 400 Mid Cap Value ETF (MDYV) is an ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year MDYV returned +13.14% while SPY returned +18.53%. Year to date, MDYV is up 9.92% versus a gain of 12.19% for SPY.
Over three years, MDYV compounded at +13.45% per year against +20.88% for SPY; over five years the annualized figures are +8.49% and +12.69% respectively. Across the full 21-year window we track, SPY has the edge at +9.54% annualized vs +6.88%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MDYV has been the more volatile fund, with annualized monthly volatility of 19.0% compared with 15.1% 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 -62.6% for MDYV and -56.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MDYV 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, MDYV currently yields 1.67% against 0.98% for SPY.
Holdings Overlap
We hold position weights for 298 holdings in MDYV and 504 in SPY, totalling 100.0% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 298 positions we hold weights for in MDYV and 504 in SPY, against full books of 299 and 505.
What only one of them owns
Our book lists 495 positions for SPY that do not appear in our book for MDYV (99.4% of the fund), and 290 for MDYV that do not appear in SPY (97.8%).
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.
You are not choosing between two funds in isolation.
Whichever of MDYV and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, MDYV or SPY?
MDYV has an expense ratio of 0.15% while SPY charges 0.09%. SPY is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, MDYV or SPY?
Over the past year MDYV returned +13.14% vs +18.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (21 years), MDYV annualized +6.88% vs +9.54% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MDYV or SPY?
MDYV has been the more volatile fund at 19.0% annualized versus 15.1% for SPY. Worst drawdown: MDYV -62.6% vs SPY -56.5%.
Should I hold both MDYV and SPY?
MDYV and SPY have a monthly-return correlation of 0.89, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, MDYV or SPY?
MDYV yields 1.67% while SPY yields 0.98%, so MDYV currently pays the higher dividend yield.
Is SPY better than MDYV?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. MDYV is less concentrated, with 10.2% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.