IJJ vs MDY: Grades, Fees and Holdings Compared

iShares S&P Mid-Cap 400 Value ETF

IJJBNYSE Arca

State Street SPDR S&P MIDCAP 400 ETF Trust

MDYBNYSE Arca

Overlap

63.2%by weight

Expense ratio

IJJ −0.05pt a year

IJJ0.18%MDY0.23%

Avg volume · 30D

MDY 3.5×the volume

IJJ184KMDY636K

10Y return · a year

MDY +0.3pt

IJJ+10.4%MDY+10.7%

IJJ vs MDY Performance

Oct 29, 2021 – Oct 30, 2026

+48.2%IJJ+39.7%MDY

Expense ratio: IJJ 0.18%, better; MDY 0.23%
Fund size: IJJ $8.67B; MDY $25.8B
1Y total return: IJJ +15.8%, better; MDY +14.0%
Yield (12M): IJJ 1.62%, better; MDY 1.05%
Holdings: IJJ 300; MDY 401
Avg volume (30D): IJJ 184K sh; MDY 636K sh, better
NAV per share: IJJ $145.42; MDY $668.72
52W range

ETF.net Grade

Pillar letters and Scores for IJJ, MDY, with each pillar’s weight
Pillar	IJJ	MDY
Cost30% weight	D33Higher	F24
Mission25% weight	A86	A100Higher
Risk15% weight	B60Higher	C52
Tradability15% weight	B62	A93Higher
Holdings10% weight	C51	A83Higher
Durability5% weight	B69	A76Higher

Rank among S&P MidCap 400 funds

How we build Categories ›

Same Category. IJJ and MDY are both graded against the same 11 S&P MidCap 400 funds, so their Grades compare head to head.

S&P MidCap 400⁠

Category · 11 funds

See all 11 ›

MDY ranks 4th and IJJ 8th of 11 funds in the S&P MidCap 400 Category.

Rank 1ASPMDState Street SPDR Portfolio S&P 400 Mid Cap ETFScore 85
Rank 2AIJHiShares Core S&P Mid-Cap ETFScore 84
Rank 3AIVOOVanguard S&P Mid-Cap 400 ETFScore 71
Rank 4BMDYState Street SPDR S&P MIDCAP 400 ETF TrustScore 66
Rank 5BMDYVState Street SPDR S&P 400 Mid Cap Value ETFScore 65
Rank 7BMDYGState Street SPDR S&P 400 Mid Cap Growth ETFScore 61
Rank 8BIJJiShares S&P Mid-Cap 400 Value ETFScore 58
Rank 9CRWKInvesco S&P MidCap 400 Revenue ETFScore 45

Our read on each fund

ETF.net Research

IJJBiShares S&P Mid-Cap 400 Value ETF

MDYBState Street SPDR S&P MIDCAP 400 ETF Trust

In short

IJJ Mid-cap value the old-fashioned way. Since 2000, IJJ has tracked the S&P MidCap 400 Value index, ranking mid-size US companies on book value, earnings and sales, and it now runs multi-billion-dollar big.

MDY Launched in 1995, MDY was the original one-ticker route into the S&P MidCap 400, and it still trades like a heavyweight. The trade-off: a fee set in an era before same-index clones charged pennies.

Stated mandate

IJJ The fund seeks to track an index of U.S. mid-cap stocks selected using metrics including book value, earnings, and sales.

MDY The fund seeks to track, before expenses, the price and yield performance of the S&P MidCap 400 Index.

Why people hold it

IJJ Launched in 2000, one of the longest-running mid-cap value ETFs on the tape, and today a multi-billion-dollar fund.
The value screen looks past price-to-book alone: mid-caps are ranked using book value, earnings and sales.ishares.com
Does what the label says: US mid-caps, value-screened, roughly 300 names, no drift up into mega-cap land.
Distributions arrive quarterly, and the fund sits in the upper half of its US value peer group.

MDY A 1995 launch makes it one of the oldest ETFs on the US market, and it is still a multi-billion-dollar, actively traded way to own mid-size America.
Tracking is about as tight as this group gets: roughly 400 mid-size US companies, held with minimal drift from the S&P MidCap 400 Index it follows.ssga.com
Built as a 1940 Act unit investment trust, so it holds the index as published rather than a sample, and passes cash through to holders quarterly.

Worth knowing

IJJ 0.18% a year is dead-median for value ETFs, but large-cap value rivals like VTV (0.03%) and VOE (0.05%) charge a fraction of it.
Mid-caps ride rougher. This has been among the more volatile funds in its value cohort, which is the price of skipping the mega-cap ballast.
Trading is moderate rather than heavy, so spreads deserve a look on bigger orders.

MDY It charges 0.23%, above the cohort median and several times what same-index options like SPMD (0.03%) and IJH (0.05%) cost. Identical index, different bill.
The trust structure cannot lend out holdings or reinvest dividends between quarterly payouts, small frictions that newer open-end fund structures avoid.
Pure mid-cap exposure, no large-cap ballast: the swings here tend to run wider than a broad S&P 500 or total-market fund.

Full IJJ profile⁠

Full MDY profile⁠

IJJ vs MDY Holdings

How IJJ and MDY differ

Overlap by weight

63.2%

Shared holdings make up 99.9% of IJJ and 67.1% of MDY.

Level by level

Holdings296 in both63.2%
Sector11 Sectors84.2%
Countryby domicile99.0%
Asset classEquity100%

Sector

Sector weights in IJJ and MDY, widest gap first
Sector	More in IJJMore in MDY	IJJ	MDY
Health Care	MDY +6.1 points	4.3%	10.4%
Financials	IJJ +5.7 points	21.0%	15.3%
Industrials	MDY +5.2 points	18.0%	23.2%
Technology	MDY +3.3 points	10.8%	14.1%
Consumer Discretionary	IJJ +3.0 points	13.3%	10.3%
Real Estate	IJJ +3.0 points	9.9%	7.0%
Energy	IJJ +2.0 points	7.7%	5.7%
Consumer Staples	IJJ +1.3 points	4.7%	3.4%
Communication	MDY +0.9 points	0.7%	1.6%
Utilities	IJJ +0.8 points	4.1%	3.3%
Materials	MDY +0.5 points	5.4%	5.9%

Country, concentration and asset class

Country by domicile

Country weights in IJJ and MDY, widest gap first
Country	More in IJJMore in MDY	IJJ	MDY
United States	IJJ +1.0 points	99.1%	98.1%
United Kingdom	MDY +0.9 points	0.5%	1.4%
Other countries (3)	MDY +0.1 points	0.4%	0.5%

Concentration

Weight in the 10 largest Holdings

IJJ11.2%
MDY7.4%

Securities held

IJJ296
MDY401

Asset class

IJJ: Equity
MDY: Equity

Holdings

Only in IJJ0
In both296
Only in MDY105

Only in IJJ

0 securities, 0.0% of IJJ by weight

Only in MDY

105 securities, 32.9% of MDY by weight

Okta Inc. Class A1.05%
U.S. Dollar0.95%
TechnipFMC plc0.75%
United Therapeutics Corporation0.73%
ATI Inc0.68%
nVent Electric plc0.64%
Tenet Healthcare Corporation0.62%
XPO Inc.0.61%
Roku Inc. Class A0.59%
Royal Gold Inc.0.57%
Woodward Inc.0.53%
Curtiss-Wright Corporation0.52%
ITT Inc.0.52%
Dynatrace Inc.0.50%
MACOM Technology Solutions Holdings Inc.0.50%
APi Group Corporation0.49%
Exelixis Inc.0.47%
RB Global Inc.0.47%
Toast Inc. Class A0.46%
RBC Bearings Incorporated0.45%
Talen Energy Corp0.44%
Medpace Holdings Inc.0.44%
CACI International Inc Class A0.43%
Halozyme Therapeutics Inc.0.43%
Neurocrine Biosciences Inc.0.43%
Somnigroup International Inc.0.42%
Carpenter Technology Corporation0.42%
Coeur Mining Inc.0.41%
Five Below Inc.0.39%
Jazz Pharmaceuticals Public Limited Company0.39%
Guidewire Software Inc.0.38%
Encompass Health Corporation0.37%
Penumbra Inc.0.36%
BWX Technologies Inc.0.36%
Fabrinet0.36%
Texas Roadhouse Inc.0.34%
Coca-Cola Consolidated Inc.0.34%
Elanco Animal Health Inc.0.33%
Sterling Infrastructure Inc.0.33%
SiTime Corporation0.32%
MasTec Inc.0.32%
Ensign Group Inc.0.31%
Moog Inc. Class A0.29%
Affiliated Managers Group Inc.0.29%
BrightSpring Health Services Inc.0.29%
Flowserve Corporation0.29%
New York Times Company Class A0.29%
Rambus Inc.0.28%
DigitalOcean Holdings Inc.0.28%
Tetra Tech Inc.0.28%

Weight gaps

The 100 widest of 296 Holdings in both funds.

Holding weights in IJJ and MDY, widest gap first
Holding	More in IJJMore in MDY	IJJ	MDY
Us Foods HoldingUSFD	IJJ +0.67 points	1.31%	0.64%
Reliance Steel & AluminumRS	IJJ +0.67 points	1.31%	0.64%
Permian Resources Class APR	IJJ +0.67 points	1.28%	0.61%
OvintivOVV	IJJ +0.61 points	1.17%	0.56%
Hf SinclairDINO	IJJ +0.55 points	1.04%	0.49%
Td SynnexSNX	IJJ +0.53 points	1.11%	0.58%
Reinsurance Group of AmericaRGA	IJJ +0.52 points	1.01%	0.49%
SharkninjaSN	IJJ +0.51 points	1.01%	0.50%
Jones Lang LasalleJLL	IJJ +0.51 points	0.97%	0.46%
Performance Food GroupPFGC	IJJ +0.47 points	0.91%	0.44%
Wesco InternationalWCC	IJJ +0.47 points	0.98%	0.51%
Pinnacle Financial PartnersPNFP	IJJ +0.46 points	0.90%	0.44%
Bjs Wholesale Club HoldingsBJ	IJJ +0.42 points	0.80%	0.38%
Toll Brothers IncTOL	IJJ +0.41 points	0.80%	0.39%
AramarkARMK	IJJ +0.41 points	0.83%	0.42%
Annaly Capital Management ReitNLY	IJJ +0.40 points	0.80%	0.40%
Antero ResourcesAR	IJJ +0.40 points	0.76%	0.36%
UnumUNM	IJJ +0.39 points	0.77%	0.38%
Range ResourcesRRC	IJJ +0.39 points	0.75%	0.36%
Crown Holdings IncCCK	IJJ +0.39 points	0.75%	0.36%
Essential Utilities IncWTRG	IJJ +0.37 points	0.72%	0.35%
Booz Allen Hamilton Holding ClassBAH	IJJ +0.33 points	0.62%	0.29%
Molina Healthcare IncMOH	IJJ +0.33 points	0.63%	0.30%
Ryder SystemR	IJJ +0.32 points	0.63%	0.31%
First HorizonFHN	IJJ +0.33 points	0.65%	0.32%
WatscoWSO	IJJ +0.32 points	0.63%	0.31%
Cnh Industrial N.v.CNH	IJJ +0.32 points	0.60%	0.28%
AvantorAVTR	IJJ +0.32 points	0.64%	0.32%
ToroTTC	IJJ +0.31 points	0.60%	0.29%
Oge EnergyOGE	IJJ +0.31 points	0.60%	0.29%
BorgwarnerBWA	IJJ +0.31 points	0.62%	0.31%
Fidelity National Financial IncFNF	IJJ +0.31 points	0.60%	0.29%
Wintrust FinancialWTFC	IJJ +0.30 points	0.60%	0.30%
Alcoa CorpAA	IJJ +0.31 points	0.61%	0.30%
Southstate Bank CorpSSB	IJJ +0.31 points	0.60%	0.29%
Regal RexnordRRX	IJJ +0.30 points	0.61%	0.31%
American Homes Rent Reit Class AAMH	IJJ +0.30 points	0.59%	0.29%
Arrow ElectronicsARW	IJJ +0.30 points	0.62%	0.32%
Gamestop Class AGME	IJJ +0.30 points	0.58%	0.28%
Ally Financial IncALLY	IJJ +0.30 points	0.61%	0.31%
Knight-Swift Transportation HoldinKNX	IJJ +0.30 points	0.58%	0.28%
Umb FinancialUMBF	IJJ +0.29 points	0.57%	0.28%
Owens CorningOC	IJJ +0.29 points	0.56%	0.27%
Viper Energy Inc Class AVNOM	IJJ +0.28 points	0.54%	0.26%
Zions BancorporationZION	IJJ +0.28 points	0.56%	0.28%
Saia IncSAIA	IJJ +0.28 points	0.54%	0.26%
AptargroupATR	IJJ +0.27 points	0.51%	0.24%
Corebridge Financial IncCRBG	IJJ +0.27 points	0.54%	0.27%
MaplebearCART	IJJ +0.27 points	0.53%	0.26%
Murphy UsaMUSA	IJJ +0.26 points	0.52%	0.26%
Darling IngredientsDAR	IJJ +0.26 points	0.51%	0.25%
Voya FinancialVOYA	IJJ +0.27 points	0.52%	0.25%
Chord EnergyCHRD	IJJ +0.26 points	0.50%	0.24%
Columbia Banking System IncCOLB	IJJ +0.26 points	0.51%	0.25%
Prosperity BancsharesPB	IJJ +0.26 points	0.51%	0.25%
Old National BancorpONB	IJJ +0.26 points	0.50%	0.24%
Rexford Industrial Realty ReitREXR	IJJ +0.25 points	0.49%	0.24%
UgiUGI	IJJ +0.25 points	0.49%	0.24%
American Airlines GroupAAL	IJJ +0.25 points	0.49%	0.24%
Cleveland Cliffs IncCLF	IJJ +0.25 points	0.48%	0.23%
CortevaCTVA	IJJ +0.24 points	0.46%	0.22%
Pbf Energy Class APBF	IJJ +0.24 points	0.45%	0.21%
Western AllianceWAL	IJJ +0.23 points	0.46%	0.23%
Axalta Coating SystemsAXTA	IJJ +0.22 points	0.43%	0.21%
Commerce BancsharesCBSH	IJJ +0.22 points	0.43%	0.21%
Matador ResourcesMTDR	IJJ +0.22 points	0.42%	0.20%
AvnetAVT	IJJ +0.20 points	0.42%	0.22%
Commercial MetalsCMC	IJJ +0.20 points	0.41%	0.21%
NovNOV	IJJ +0.20 points	0.40%	0.20%
TimkenTKR	IJJ +0.20 points	0.41%	0.21%
Southwest Gas HoldingsSWX	IJJ +0.21 points	0.40%	0.19%
Valley NationalVLY	IJJ +0.20 points	0.39%	0.19%
Lithia Motors Inc Class ALAD	IJJ +0.20 points	0.39%	0.19%
Jefferies Financial Group IncJEF	IJJ +0.19 points	0.41%	0.21%
AgcoAGCO	IJJ +0.20 points	0.38%	0.18%
First American Financial CorpFAF	IJJ +0.19 points	0.38%	0.19%
Healthcare Realty Trust Inc ClassHR	IJJ +0.19 points	0.37%	0.18%
Science Applications InternationalSAIC	IJJ +0.20 points	0.38%	0.18%
United BanksharesUBSI	IJJ +0.19 points	0.38%	0.19%
TerexTEX	IJJ +0.20 points	0.38%	0.18%
Black Hills CorpBKH	IJJ +0.19 points	0.37%	0.18%
Fnb CorpFNB	IJJ +0.19 points	0.37%	0.18%
Glacier Bancorp IncGBCI	IJJ +0.19 points	0.37%	0.18%
MksMKSI	MDY +0.19 points	0.23%	0.42%
Ingredion IncINGR	IJJ +0.19 points	0.36%	0.17%
Fluor CorpFLR	IJJ +0.19 points	0.37%	0.18%
MacysM	IJJ +0.18 points	0.37%	0.19%
Vf CorpVFC	IJJ +0.18 points	0.36%	0.18%
Rli CorpRLI	IJJ +0.18 points	0.35%	0.17%
Murphy OilMUR	IJJ +0.18 points	0.35%	0.17%
LearLEA	IJJ +0.17 points	0.34%	0.17%
Selective Insurance GroupSIGI	IJJ +0.17 points	0.34%	0.17%
Gxo LogisticsGXO	IJJ +0.18 points	0.34%	0.16%
Sensata Technologies Holding PLCST	IJJ +0.17 points	0.34%	0.17%
Cnx ResourcesCNX	IJJ +0.16 points	0.32%	0.16%
Hancock WhitneyHWC	IJJ +0.17 points	0.33%	0.16%
SemtechSMTC	MDY +0.17 points	0.21%	0.38%
Home Bancshares IncHOMB	IJJ +0.17 points	0.33%	0.16%
Cno Financial GroupCNO	IJJ +0.16 points	0.31%	0.15%
Vornado Realty Trust ReitVNO	IJJ +0.16 points	0.32%	0.16%

All 301 IJJ holdings⁠All 400 MDY holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IJJ vs MDY Cost

Overpaying MDY vs IJJ

$1,010

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

IJJ 0.18%
$3,749
MDY 0.23%
$4,759

Amount$10,000

Years30 years

Cost over time

IJJ 0.18%
MDY 0.23%
Overpaying

Year by year

Year	IJJ	MDY	Overpaying
10	$328	$419	$91
20	$1,281	$1,630	$349
30	$3,749	$4,759	$1,010

Expense ratio

0.18%IJJ, cheaper
0.23%MDY

IJJ0.18%MDY0.23%

0.03%0.49%

Middle half of S&P MidCap 400 funds
Median 0.15%

IJJ 8th cheapest of 11 funds

MDY 9th cheapest of 11 funds

IJJ vs MDY Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IJJ 1.62%, better; MDY 1.05%
Payout (12M): IJJ $2.35; MDY $7.01
Last payment: IJJ $0.58; MDY $1.60
Ex-dividend: IJJ Sep 15, 2026; MDY Sep 18, 2026
Paid on: IJJ Sep 18, 2026; MDY Oct 30, 2026
Frequency: IJJ Quarterly; MDY Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IJJQuarterly · 39 paymentsAll IJJ payments⁠

MDYQuarterly · 39 paymentsAll MDY payments⁠

IJJ vs MDY Risk

Fall from peak · 5 years

Risk facts

VolatilityStd dev, 3 years: IJJ 15.9%MDY 15.1%, better
Return per unit of riskSharpe ratio, 3 years: IJJ 0.81MDY 0.83, better
Worst fallMax drawdown, 5 years: IJJ −22.7%, betterMDY −24.0%
Market sensitivityBeta, 5 years: IJJ 0.98MDY 1.02; Market = 1

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