INKM vs MDIV: Grades, Fees and Holdings Compared

State Street Income Allocation ETF

INKMANYSE Arca

Multi-Asset Diversified Income Index Fund

MDIVBNasdaq

Overlap

0.0%by weight

Expense ratio

INKM −0.21pt a year

INKM0.50%MDIV0.71%

Avg volume · 30D

MDIV 4.4×the volume

INKM13.3KMDIV58.4K

10Y return · a year

INKM +0.3pt

INKM+5.5%MDIV+5.2%

INKM vs MDIV Performance

Oct 29, 2021 – Oct 30, 2026

+20.8%INKM+34.8%MDIV

Expense ratio: INKM 0.50%, better; MDIV 0.71%
Fund size: INKM $70M; MDIV $418M
1Y total return: INKM +7.6%; MDIV +11.5%, better
Yield (12M): INKM 4.69%; MDIV 7.48%, better
Holdings: INKM 18; MDIV 124
Avg volume (30D): INKM 13.3K sh; MDIV 58.4K sh, better
NAV per share: INKM $34.00; MDIV $16.18
52W range

ETF.net Grade

Pillar letters and Scores for INKM, MDIV, with each pillar’s weight
Pillar	INKM	MDIV
Cost30% weight	A79Higher	C50
Mission25% weight	A71	A86Higher
Risk15% weight	A75Higher	B55
Tradability15% weight	A76Higher	A74
Holdings10% weight	C47	B67Higher
Durability5% weight	A70	A83Higher

Rank among Multi-Asset Income funds

How we build Categories ›

Same Category. INKM and MDIV are both graded against the same 15 Multi-Asset Income funds, so their Grades compare head to head.

Multi-Asset Income⁠

Category · 15 funds

See all 15 ›

INKM ranks 3rd and MDIV 4th of 15 funds in the Multi-Asset Income Category.

Rank 1AINCMFranklin Income Focus ETFScore 82
Rank 2AIYLDiShares Morningstar Multi-Asset Income ETFScore 79
Rank 3AINKMState Street Income Allocation ETFScore 72
Rank 4BMDIVMulti-Asset Diversified Income Index FundScore 66
Rank 5BALTYGlobal X Alternative Income ETFScore 57

Our read on each fund

ETF.net Research

INKMAState Street Income Allocation ETF

MDIVBMulti-Asset Diversified Income Index Fund

In short

INKM One ticker, one active manager, and a shopping list that runs from bonds and preferreds to convertibles, global REITs and dividend stocks. INKM has been playing multi-asset income this way since 2012, at half a point of fee.

MDIV Five income sleeves in one ticker: dividend stocks, REITs, preferreds, MLPs and a high-yield bond ETF, each reset to roughly 20% every quarter. Trading since 2012 and paying monthly, it spreads the yield hunt instead of making one big bet.

Stated mandate

INKM The fund seeks total return by investing primarily in income- and yield-generating assets. It is actively managed and uses tactical allocations across bonds, convertible and preferred securities, global REITs, and domestic and international dividend-focused equities.

MDIV The Fund seeks investment results that generally track the price and yield of the Nasdaq US Multi-Asset Diversified Income Index before fees and expenses.

Why people hold it

INKM Charges 0.50% a year, under the 0.78% median for allocation funds.
Actively managed with tactical shifts across bonds, convertibles, preferreds, global REITs and dividend equities, rather than fixed index weights.ssga.com
Launched in 2012 and pays quarterly, a long run for a one-ticket income allocation fund.
Lands in the upper half of its allocation peer group on our review.

MDIV Five slices, one ticker: dividend stocks, REITs, preferreds, MLPs and a high-yield bond ETF, each rebalanced back to about 20% each quarter.sec.gov
Each segment filters out names whose annual volatility runs more than 15 percentage points above its benchmark, so the wildest high-yielders get screened.ftportfolios.com nasdaqomx.com
Trading since 2012 and paying monthly, with about 120 holdings, it ranks as one of the stronger implementations in the multi-asset income group.

Worth knowing

INKM Thinly traded with a modest asset base, so spreads and order handling matter more here than with the category's giants.
Index-based allocation rivals cost far less: AOA at 0.19% and IRTR at 0.08%.
No published index to check it against. What you own depends on the manager's asset-mix calls.

MDIV 0.71% net of a waiver through January 31, 2027 (0.83% gross) sits near the category median, but above peers like INCM at 0.38% and IYLD at 0.50%.
The high-yield sleeve is owned through another ETF, which may be a First Trust fund, so a slice of the cost and credit exposure sits one layer down.sec.gov
All five sleeves are income assets: preferreds, high-yield bonds, REITs and MLPs can lean the same way when rates or credit spreads move.nasdaqomx.com

Full INKM profile⁠

Full MDIV profile⁠

INKM vs MDIV Holdings

How INKM and MDIV differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of INKM and 0.0% of MDIV.

Level by level

Holdings0 in both0.0%
Sector11 Sectors49.2%
Countryby domicile84.9%

Sector

Sector weights in INKM and MDIV, widest gap first
Sector	More in INKMMore in MDIV	INKM	MDIV
Energy	MDIV +24.8 points	10.1%	34.9%
Real Estate	MDIV +20.8 points	11.9%	32.7%
Industrials	INKM +14.1 points	14.8%	0.7%
Technology	INKM +14.0 points	14.0%	0.0%
Financials	MDIV +5.2 points	8.8%	13.9%
Health Care	INKM +5.1 points	6.9%	1.8%
Consumer Discretionary	INKM +5.0 points	5.6%	0.6%
Utilities	INKM +4.3 points	13.2%	8.9%
Communication	INKM +4.0 points	5.7%	1.7%
Consumer Staples	INKM +2.9 points	7.7%	4.8%
Materials	INKM +1.4 points	1.4%	0.0%

Country, concentration and asset class

Country by domicile

Country weights in INKM and MDIV, widest gap first
Country	More in INKMMore in MDIV	INKM	MDIV
United States	MDIV +15.1 points	84.1%	99.2%
Japan	INKM +1.8 points	1.8%	0.0%
Mexico	INKM +1.3 points	1.3%	0.0%
Australia	INKM +1.2 points	1.2%	0.0%
China	INKM +1.1 points	1.1%	0.0%
Switzerland	INKM +1.1 points	1.1%	0.0%
South Africa	INKM +0.9 points	0.9%	0.0%
Brazil	INKM +0.8 points	0.8%	0.0%
Other countries (24)	INKM +6.9 points	7.7%	0.8%

Concentration

Weight in the 10 largest Holdings

INKM82.6%
MDIV32.1%

Securities held

INKM16
MDIV123

Asset class

INKM: Multi-Asset
MDIV: Multi-Asset

Holdings

Only in INKM16
In both0
Only in MDIV123

Only in INKM

16 securities, 99.6% of INKM by weight

State Street Spdr Portfolio Lo16.14%
State Street Spdr S+p Global I10.78%
State Street Us Equity Premium9.58%
State Street Spdr Bloomberg Em8.87%
Schwab Us Dividend Equity Etf7.40%
State Street Spdr Portfolio S+7.34%
State Street Spdr Bloomberg Hi5.83%
State Street Spdr Ice Preferre5.80%
State Street Blackstone Senior5.79%
State Street Spdr S+p Internat5.05%
State Street Spdr Bloomberg Em4.85%
State Street Spdr Bloomberg Co3.70%
State Street Spdr Dow Jones Re2.51%
State Street Spdr Portfolio In2.49%
State Street Spdr Portfolio Lo2.01%
State Street Spdr Portfolio In1.49%

Only in MDIV

123 securities, 99.7% of MDIV by weight

First Trust Tactical High Yield ETF20.34%
Kimbell Royalty Partners LP1.38%
Mach Natural Resources LP1.37%
AGNC Investment Corp.1.34%
Annaly Capital Management, Inc.1.32%
Rithm Capital Corp.1.32%
ARMOUR Residential REIT, Inc.1.28%
TXO Partners, L.P.1.27%
Icahn Enterprises, L.P.1.27%
Rithm Capital Corp., Series B, Variable Rate1.23%
Dorchester Minerals, L.P.1.17%
Alliance Resource Partners, L.P.1.12%
Western Midstream Partners LP1.12%
CrossAmerica Partners LP1.10%
Citigroup Capital XIII, Variable Rate, due 10/30/20400.99%
Black Stone Minerals, L.P.0.96%
Apple Hospitality REIT, Inc.0.95%
Gaming and Leisure Properties, Inc.0.92%
VICI Properties Inc.0.91%
AGNC Investment Corp., Series C, 7.000%, Variable Rate0.90%
Delek Logistics Partners LP0.90%
AGNC Investment Corp., Series E, 6.500% Variable Rate0.89%
USA Compression Partners LP0.89%
Rithm Capital Corp., Series D, Variable Rate0.88%
Annaly Capital Management, Inc., Series F, 6.950%, Variable Rate0.88%
Mplx Lp0.87%
AGNC Investment Corp., Series F, 6.125% Variable Rate0.87%
Lincoln National Corporation, Series D, 9.000%0.85%
Annaly Capital Management, Inc., Series G, 6.500% Variable Rate0.82%
Plains All American Pipeline, L.P.0.81%
EPR Properties0.81%
Synchrony Financial, Series B Variable Rate0.80%
Fifth Third Bancorp, Series I, 6.625%, Variable Rate0.79%
Algonquin Power & Utilities Corp., Series 19-A, 6.200%, Variable Rate, Due 07/01/20790.79%
Four Corners Property Trust, Inc.0.78%
Jackson Financial Inc., 8.000%, Variable Rate0.78%
Banc of California, Inc., Series F, 7.75% Variable Rate0.78%
Omega Healthcare Investors, Inc.0.77%
CubeSmart0.77%
Energy Transfer LP0.76%
CHS Inc., Series 1, 7.875%0.75%
American National Group Inc., Series D, 7.375%0.74%
Apollo Global Management, Inc., 7.625%, Variable Rate, Due 09/15/20530.73%
Plains GP Holdings, L.P. (Class A)0.73%
The Allstate Corporation, 5.100%, Variable Rate, Due 01/15/20530.73%
Pfizer Inc.0.72%
Hess Midstream LP (Class A)0.72%
CHS Inc., Series 4, 7.500%0.71%
Reinsurance Group of America, Incorporated, 7.125%, Variable Rate, Due 10/15/20520.70%
Morgan Stanley, Series E, 7.125%, Variable Rate0.70%

Weight gaps

INKM and MDIV share no securities.

All 16 INKM holdings⁠All 123 MDIV 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.

INKM vs MDIV Cost

Overpaying MDIV vs INKM

$3,803

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

INKM 0.50%
$9,979
MDIV 0.71%
$13,782

Amount$10,000

Years30 years

Cost over time

INKM 0.50%
MDIV 0.71%
Overpaying

Year by year

Year	INKM	MDIV	Overpaying
10	$900	$1,267	$367
20	$3,460	$4,824	$1,364
30	$9,979	$13,782	$3,803

Expense ratio

0.50%INKM, cheaper
0.71%MDIV

INKM0.50%MDIV0.71%

0.15%1.37%

Middle half of Multi-Asset Income funds
Median 0.71%

INKM 3rd cheapest of 15 funds

MDIV 8th cheapest of 15 funds

INKM vs MDIV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): INKM 4.69%; MDIV 7.48%, better
Payout (12M): INKM $1.59; MDIV $1.21
Last payment: INKM $0.34; MDIV $0.08
Ex-dividend: INKM Sep 25, 2026; MDIV Oct 21, 2026
Paid on: INKM Sep 29, 2026; MDIV Oct 30, 2026
Frequency: INKM Quarterly; MDIV Monthly

Distribution history

Per share, 2023 to 2026, same scale for both

INKMQuarterly · 15 paymentsAll INKM payments⁠

MDIVMonthly · 46 paymentsAll MDIV payments⁠

INKM vs MDIV Risk

Fall from peak · 5 years

INKM
MDIV

Risk facts

VolatilityStd dev, 3 years: INKM 7.8%, betterMDIV 8.5%
Return per unit of riskSharpe ratio, 3 years: INKM 0.92, betterMDIV 0.82
Worst fallMax drawdown, 5 years: INKM −19.2%MDIV −13.1%, better
Market sensitivityBeta, 5 years: INKM 0.82MDIV 0.69; Market = 1

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