SMDD vs SPY
UltraPro Short MidCap400 vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | SMDD | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.95% | 0.09% | |
| AUM | $2M | $789.1B | |
| Dividend Yield | 6.11% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | -38.60% | +13.68% | |
| 1Y Return | -47.75% | +21.53% | |
| 3Y Return (annualized) | -37.28% | +21.44% | |
| 5Y Return (annualized) | -30.83% | +13.18% | |
| Volatility (annualized) | 52.4% | 15.3% | |
| Max Drawdown | -100.0% | -56.5% | |
| Fund Family | ProShares | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Feb 9, 2010 | Jan 22, 1993 |
SMDD vs SPY Performance
UltraPro Short MidCap400 (SMDD) is a ETF from ProShares and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year SMDD returned -47.75% while SPY returned +21.53%. Year to date, SMDD is down 38.60% versus a gain of 13.68% for SPY.
Over three years, SMDD compounded at -37.28% per year against +21.44% for SPY; over five years the annualized figures are -30.83% and +13.18% respectively. Across the full 17-year window we track, SPY has the edge at +8.85% annualized vs -40.38%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SMDD has been the more volatile fund, with annualized monthly volatility of 52.4% 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 -100.0% for SMDD 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 -0.82. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
SMDD charges 0.95% per year while SPY charges 0.09%. On a $10,000 position that is $95 vs $9 annually, a gap of $86 per year that compounds over a long holding period. On income, SMDD currently yields 6.11% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, SMDD or SPY?
SMDD has an expense ratio of 0.95% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $86 per year of difference.
Which performed better, SMDD or SPY?
Over the past year SMDD returned -47.75% vs +21.53% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (17 years), SMDD annualized -40.38% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, SMDD or SPY?
SMDD has been the more volatile fund at 52.4% annualized versus 15.3% for SPY. Worst drawdown: SMDD -100.0% vs SPY -56.5%.
Should I hold both SMDD and SPY?
SMDD and SPY have a monthly-return correlation of -0.82, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, SMDD or SPY?
SMDD yields 6.11% while SPY yields 1.01%, so SMDD currently pays the higher dividend yield.
Popular ETF Comparisons
Get Full ETF Analytics
Access complete holdings data, overlap analysis, screener tools, and more with FundXLS.