IJJ vs SPMD: Grades, Fees and Holdings Compared

iShares S&P Mid-Cap 400 Value ETF

IJJBNYSE Arca

State Street SPDR Portfolio S&P 400 Mid Cap ETF

SPMDANYSE Arca

Overlap

63.6%by weight

Expense ratio

SPMD −0.15pt a year

IJJ0.18%SPMD0.03%

Avg volume · 30D

SPMD 8.9×the volume

IJJ184KSPMD1.64M

10Y return · a year

SPMD +0.7pt

IJJ+10.4%SPMD+11.1%

IJJ vs SPMD Performance

Oct 29, 2021 – Oct 30, 2026

+48.2%IJJ+41.5%SPMD

Expense ratio: IJJ 0.18%; SPMD 0.03%, better
Fund size: IJJ $8.67B; SPMD $18.9B
1Y total return: IJJ +15.8%, better; SPMD +14.4%
Yield (12M): IJJ 1.62%, better; SPMD 1.31%
Holdings: IJJ 300; SPMD 402
Avg volume (30D): IJJ 184K sh; SPMD 1.64M sh, better
NAV per share: IJJ $145.42; SPMD $65.00
52W range

ETF.net Grade

Pillar letters and Scores for IJJ, SPMD, with each pillar’s weight
Pillar	IJJ	SPMD
Cost30% weight	D33	A96Higher
Mission25% weight	A86	A100Higher
Risk15% weight	B60Higher	C52
Tradability15% weight	B62	A78Higher
Holdings10% weight	C51	A83Higher
Durability5% weight	B69	A73Higher

Rank among S&P MidCap 400 funds

How we build Categories ›

Same Category. IJJ and SPMD 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 ›

SPMD ranks 1st 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 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

SPMDAState Street SPDR Portfolio S&P 400 Mid Cap ETF

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.

SPMD Four ETFs track the S&P MidCap 400. This is the cheapest of them at 0.03%, a fraction of what the priciest wrapper on the identical 400 stocks charges. Same index, smaller toll booth.

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.

SPMD The fund seeks to track the total return performance of the S&P MidCap 400 Index before fees and expenses, providing exposure to mid-cap U.S. equities.

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.

SPMD 0.03% a year for the S&P MidCap 400. The other funds tracking that same index charge 0.05% (IJH), 0.07% (IVOO) and 0.23% (MDY).
Boring done well: about 400 mid-cap US stocks, one published S&P index, and tracking measured as among the tightest in its peer group.
A multi-billion-dollar fund that trades actively, so entering and exiting is rarely the hard part.
Stands in the top tier of the S&P MidCap 400 wrappers we grade, driven by fee and tracking rather than any clever twist.

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.

SPMD Mid caps swing harder than mega caps in both directions. Volatility is the softest of this fund's measured marks.
One slice only: US mid-cap equity. No large caps, no small caps, no bonds, nothing overseas.
Cash comes quarterly, not monthly.

Full IJJ profile⁠

Full SPMD profile⁠

IJJ vs SPMD Holdings

How IJJ and SPMD differ

Overlap by weight

63.6%

Shared holdings make up 99.9% of IJJ and 67.7% of SPMD.

Level by level

Holdings296 in both63.6%
Sector11 Sectors84.1%
Countryby domicile99.0%
Asset classEquity100%

Sector

Sector weights in IJJ and SPMD, widest gap first
Sector	More in IJJMore in SPMD	IJJ	SPMD
Health Care	SPMD +6.1 points	4.3%	10.4%
Financials	IJJ +5.7 points	21.0%	15.3%
Industrials	SPMD +5.1 points	18.0%	23.1%
Technology	SPMD +3.4 points	10.8%	14.2%
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 +1.4 points	4.7%	3.3%
Utilities	IJJ +0.9 points	4.1%	3.2%
Communication	SPMD +0.9 points	0.7%	1.6%
Materials	SPMD +0.5 points	5.4%	5.9%

Country, concentration and asset class

Country by domicile

Country weights in IJJ and SPMD, widest gap first
Country	More in IJJMore in SPMD	IJJ	SPMD
United States	IJJ +0.9 points	99.1%	98.2%
United Kingdom	SPMD +0.7 points	0.5%	1.2%
Other countries (3)	SPMD +0.2 points	0.4%	0.6%

Concentration

Weight in the 10 largest Holdings

IJJ11.2%
SPMD7.1%

Securities held

IJJ296
SPMD400

Asset class

IJJ: Equity
SPMD: Equity

Holdings

Only in IJJ0
In both296
Only in SPMD104

Only in IJJ

0 securities, 0.0% of IJJ by weight

Only in SPMD

104 securities, 32.2% of SPMD by weight

Okta Inc1.06%
Technipfmc PLC0.76%
United Therapeutics Corp0.73%
Ati Inc0.69%
Nvent Electric PLC0.64%
Tenet Healthcare Corp0.63%
Xpo Inc0.62%
Roku Inc0.60%
Royal Gold Inc0.58%
Woodward Inc0.54%
Curtiss Wright Corp0.53%
Itt Inc0.52%
Dynatrace Inc0.51%
Macom Technology Solutions H0.51%
Api Group Corp0.50%
Exelixis Inc0.47%
Rb Global Inc0.47%
Toast Inc Class A0.47%
Rbc Bearings Inc0.45%
Talen Energy Corp0.45%
Medpace Holdings Inc0.44%
Caci International Inc Class A0.43%
Halozyme Therapeutics Inc0.43%
Neurocrine Biosciences Inc0.43%
Somnigroup International Inc0.43%
Carpenter Technology0.43%
Coeur Mining Inc0.42%
Five Below0.39%
Jazz Pharmaceuticals PLC0.39%
Guidewire Software Inc0.38%
Encompass Health Corp0.37%
Penumbra Inc0.37%
Bwx Technologies Inc0.36%
Fabrinet0.36%
Texas Roadhouse Inc0.35%
Coca Cola Consolidated Inc0.34%
Elanco Animal Health Inc0.33%
Sterling Infrastructure Inc0.33%
Sitime Corp0.33%
Mastec Inc0.32%
Ensign Group Inc/The0.31%
Moog Inc Class A0.30%
Affiliated Managers Group0.30%
Brightspring Health Services0.30%
Flowserve Corp0.29%
New York Times Co A0.29%
Rambus Inc0.28%
Digitalocean Holdings Inc0.28%
Tetra Tech Inc0.28%
Hecla Mining Co0.28%

Weight gaps

The 100 widest of 296 Holdings in both funds.

Holding weights in IJJ and SPMD, widest gap first
Holding	More in IJJMore in SPMD	IJJ	SPMD
Us Foods HoldingUSFD	IJJ +0.67 points	1.31%	0.64%
Reliance Steel & AluminumRS	IJJ +0.66 points	1.31%	0.65%
Permian Resources Class APR	IJJ +0.66 points	1.28%	0.62%
OvintivOVV	IJJ +0.60 points	1.17%	0.57%
Hf SinclairDINO	IJJ +0.54 points	1.04%	0.50%
Td SynnexSNX	IJJ +0.52 points	1.11%	0.59%
Reinsurance Group of AmericaRGA	IJJ +0.51 points	1.01%	0.50%
SharkninjaSN	IJJ +0.51 points	1.01%	0.50%
Jones Lang LasalleJLL	IJJ +0.50 points	0.97%	0.47%
Performance Food GroupPFGC	IJJ +0.47 points	0.91%	0.44%
Wesco InternationalWCC	IJJ +0.46 points	0.98%	0.52%
Pinnacle Financial PartnersPNFP	IJJ +0.46 points	0.90%	0.44%
Bjs Wholesale Club HoldingsBJ	IJJ +0.41 points	0.80%	0.39%
Toll Brothers IncTOL	IJJ +0.41 points	0.80%	0.39%
AramarkARMK	IJJ +0.40 points	0.83%	0.43%
Annaly Capital Management ReitNLY	IJJ +0.40 points	0.80%	0.40%
Antero ResourcesAR	IJJ +0.39 points	0.76%	0.37%
UnumUNM	IJJ +0.39 points	0.77%	0.38%
Range ResourcesRRC	IJJ +0.39 points	0.75%	0.36%
Crown Holdings IncCCK	IJJ +0.38 points	0.75%	0.37%
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 +0.31 points	0.64%	0.33%
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 +0.30 points	0.60%	0.30%
Wintrust FinancialWTFC	IJJ +0.30 points	0.60%	0.30%
Alcoa CorpAA	IJJ +0.31 points	0.61%	0.30%
Southstate Bank CorpSSB	IJJ +0.30 points	0.60%	0.30%
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 +0.29 points	0.58%	0.29%
Umb FinancialUMBF	IJJ +0.29 points	0.57%	0.28%
Owens CorningOC	IJJ +0.28 points	0.56%	0.28%
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 +0.26 points	0.52%	0.26%
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 +0.24 points	0.49%	0.25%
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 +0.21 points	0.43%	0.22%
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 +0.19 points	0.39%	0.20%
Lithia Motors Inc Class ALAD	IJJ +0.20 points	0.39%	0.19%
Jefferies Financial Group IncJEF	IJJ +0.19 points	0.41%	0.22%
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%
MksMKSI	SPMD +0.19 points	0.23%	0.42%
United BanksharesUBSI	IJJ +0.19 points	0.38%	0.19%
TerexTEX	IJJ +0.19 points	0.38%	0.19%
Black Hills CorpBKH	IJJ +0.19 points	0.37%	0.18%
Fnb CorpFNB	IJJ +0.18 points	0.37%	0.19%
Glacier Bancorp IncGBCI	IJJ +0.19 points	0.37%	0.18%
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 +0.17 points	0.34%	0.17%
Sensata Technologies Holding PLCST	IJJ +0.17 points	0.34%	0.17%
SemtechSMTC	SPMD +0.17 points	0.21%	0.38%
Cnx ResourcesCNX	IJJ +0.16 points	0.32%	0.16%
Hancock WhitneyHWC	IJJ +0.16 points	0.33%	0.17%
Dt MidstreamDTM	SPMD +0.16 points	0.21%	0.37%
Lincoln Electric HoldingsLECO	SPMD +0.17 points	0.28%	0.45%
Home Bancshares IncHOMB	IJJ +0.17 points	0.33%	0.16%

All 301 IJJ holdings⁠All 400 SPMD 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 SPMD Cost

Overpaying IJJ vs SPMD

$3,111

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

IJJ 0.18%
$3,749
SPMD 0.03%
$638

Amount$10,000

Years30 years

Cost over time

IJJ 0.18%
SPMD 0.03%
Overpaying

Year by year

Year	IJJ	SPMD	Overpaying
10	$328	$55	$273
20	$1,281	$216	$1,065
30	$3,749	$638	$3,111

Expense ratio

0.18%IJJ
0.03%SPMD, cheaper

SPMD0.03%IJJ0.18%

0.03%0.49%

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

SPMD cheapest of 11 funds

IJJ 8th cheapest of 11 funds

IJJ vs SPMD Dividends

Last 12 months to Oct 30, 2026

Yield (12M): IJJ 1.62%, better; SPMD 1.31%
Payout (12M): IJJ $2.35; SPMD $0.84
Last payment: IJJ $0.58; SPMD $0.23
Ex-dividend: IJJ Sep 15, 2026; SPMD Sep 21, 2026
Paid on: IJJ Sep 18, 2026; SPMD Sep 23, 2026
Frequency: IJJ Quarterly; SPMD Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IJJQuarterly · 39 paymentsAll IJJ payments⁠

SPMDQuarterly · 39 paymentsAll SPMD payments⁠

IJJ vs SPMD Risk

Fall from peak · 5 years

IJJ
SPMD

Risk facts

VolatilityStd dev, 3 years: IJJ 15.9%SPMD 15.1%, better
Return per unit of riskSharpe ratio, 3 years: IJJ 0.81SPMD 0.85, better
Worst fallMax drawdown, 5 years: IJJ −22.7%, betterSPMD −24.1%
Market sensitivityBeta, 5 years: IJJ 0.98SPMD 1.02; Market = 1

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