IVOO vs MDYG: Grades, Fees and Holdings Compared

Vanguard S&P Mid-Cap 400 ETF

IVOOANYSE Arca

State Street SPDR S&P 400 Mid Cap Growth ETF

MDYGBNYSE Arca

Overlap

63.6%by weight

Expense ratio

IVOO −0.08pt a year

IVOO0.07%MDYG0.15%

Avg volume · 30D

MDYG 1.2×the volume

IVOO82KMDYG94.8K

10Y return · a year

MDYG +0.1pt

IVOO+10.8%MDYG+10.9%

IVOO vs MDYG Performance

Nov 9, 2021 – Nov 9, 2026

+37.7%IVOO+30.9%MDYG

Expense ratio: IVOO 0.07%, better; MDYG 0.15%
Fund size: IVOO $3.7B; MDYG $2.75B
1Y total return: IVOO +16.1%, better; MDYG +15.1%
Yield (12M): IVOO 1.19%, better; MDYG 0.67%
Holdings: IVOO 408; MDYG 249
Avg volume (30D): IVOO 82K sh; MDYG 94.8K sh, better
NAV per share: IVOO $122.07; MDYG $101.02
52W range

ETF.net Grade

Pillar letters and Scores for IVOO, MDYG, with each pillar’s weight
Pillar	IVOO	MDYG
Cost30% weight	A78Higher	C51
Mission25% weight	A100Higher	A96
Risk15% weight	B57Higher	D26
Tradability15% weight	D32	B60Higher
Holdings10% weight	A71Higher	C41
Durability5% weight	B66Higher	B61

Rank among S&P MidCap 400 funds

How we build Categories ›

Same Category. IVOO and MDYG 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 ›

IVOO ranks 3rd and MDYG 7th of 11 funds in the S&P MidCap 400 Category.

Rank 1ASPMDState Street SPDR Portfolio S&P 400 Mid Cap ETFScore 86
Rank 2AIJHiShares Core S&P Mid-Cap ETFScore 84
Rank 3AIVOOVanguard S&P Mid-Cap 400 ETFScore 72
Rank 4BMDYState Street SPDR S&P MIDCAP 400 ETF TrustScore 66
Rank 6BMDYVState Street SPDR S&P 400 Mid Cap Value ETFScore 63
Rank 7BMDYGState Street SPDR S&P 400 Mid Cap Growth ETFScore 59
Rank 8BIJJiShares S&P Mid-Cap 400 Value ETFScore 58

Our read on each fund

ETF.net Research

IVOOAVanguard S&P Mid-Cap 400 ETF

MDYGBState Street SPDR S&P 400 Mid Cap Growth ETF

In short

IVOO Four funds chase the S&P MidCap 400; this is the Vanguard one. About 400 mid-sized US companies at 0.07% a year, less than half what the typical fund on this index charges.

MDYG The growth half of the S&P MidCap 400, running since 2005. MDYG keeps the mid-cap names that score growth and leaves the value end to its sibling fund, for 0.15% a year.

Stated mandate

IVOO The fund seeks to follow the performance of the S&P MidCap 400 Index.

MDYG The fund seeks to track, before fees and expenses, the total return of the S&P MidCap 400 Growth Index.

Why people hold it

IVOO 0.07% a year, under half the going rate among funds tracking this same index. On a plain-vanilla wrapper, fee is most of the argument.vanguard.com
Holds roughly 400 mid-sized US companies, the tier above small caps and below the mega-cap names. No stock picking, no tilts, no sector bets.vanguard.com
Tracks the S&P MidCap 400 closely and does exactly what its prospectus says, one of the tighter implementations in this peer group.vanguard.com
Trading since 2010, with distributions paid quarterly. A multi-billion-dollar fund with a long track record behind the ticker.

MDYG One job: mirror the S&P MidCap 400 Growth Index. Tracking has stayed very close to that benchmark.
Trading since 2005 and now a multi-billion-dollar fund from SPDR. A seasoned wrapper, not a fresh launch chasing a theme.
0.15% a year sits right at the median for the S&P MidCap 400 shelf, and it buys you about 240 growth-screened mid caps rather than a short list of bets.
The style call is rules-based: S&P runs the growth screen and the rebalancing, so there is no manager discretion to second-guess. Cash goes out quarterly.

Worth knowing

IVOO Cheaper wrappers on the identical index exist: SPMD at 0.03% and IJH at 0.05%. Small gap, but it is a gap, and the index inside is the same.
Moderately traded rather than the volume king of the S&P 400 group, so spreads deserve a look on large or hurried orders.
All US, all mid-cap. No mega-cap ballast, no international exposure. This is one slice of a portfolio, not the whole plate.

MDYG Owning the full 400 costs less: SPMD charges 0.03% and IJH 0.05%. The style split is what the extra basis points buy.
By design this is only the growth end of the index. The value side of mid caps is absent, so results can drift from the full 400 in either direction.
Volume is moderate rather than heavyweight for the category, so spreads deserve a look on larger orders.

Full IVOO profile⁠

Full MDYG profile⁠

IVOO vs MDYG Holdings

How IVOO and MDYG differ

Overlap by weight

63.6%

Shared holdings make up 99.0% of MDYG and 64.9% of IVOO.

Level by level

Holdings245 in both63.6%
Sector11 Sectors85.1%
Countryby domicile97.4%
Asset classStocks100%

Sector

Sector weights in IVOO and MDYG, widest gap first
Sector	Gap	IVOO	MDYG
Health Care	MDYG +8.0 points	10.4%	18.4%
Industrials	MDYG +5.9 points	22.2%	28.1%
Financials	IVOO +4.1 points	13.5%	9.4%
Technology	IVOO +3.1 points	18.1%	15.0%
Energy	IVOO +2.5 points	5.3%	2.8%
Consumer Staples	IVOO +1.7 points	3.2%	1.5%
Real Estate	IVOO +1.7 points	7.9%	6.2%
Communication	MDYG +1.1 points	1.5%	2.6%
Utilities	IVOO +0.6 points	2.8%	2.2%
Materials	IVOO +0.7 points	4.9%	4.2%
Consumer Discretionary	IVOO +0.5 points	10.1%	9.6%

Country, concentration and asset class

Country by domicile

Country weights in IVOO and MDYG, widest gap first
Country	Gap	IVOO	MDYG
United States	IVOO +2.6 points	100.0%	97.4%
United Kingdom	MDYG +1.8 points	0.0%	1.8%
Other countries (3)	MDYG +0.8 points	0.0%	0.8%

Concentration

Weight in the 10 largest Holdings

IVOO7.8%
MDYG12.9%

Securities held

IVOO402
MDYG247

Asset class

IVOO: Stocks
MDYG: Stocks

Holdings

Only in IVOO157
In both245
Only in MDYG2

Only in IVOO

157 securities, 34.8% of IVOO by weight

Twilio Inc1.32%
Okta Inc1.02%
TD SYNNEX Corp0.60%
US Foods Holding Corp0.58%
Reliance Inc0.58%
Permian Resources Corp0.52%
WESCO International Inc0.51%
HF Sinclair Corp0.49%
SLCMT11420.47%
Reinsurance Group of America Inc0.47%
Ovintiv Inc0.47%
SharkNinja Inc0.44%
Performance Food Group Co0.42%
Annaly Capital Management Inc0.42%
Aramark0.41%
Pinnacle Financial Partners Inc0.41%
Jones Lang LaSalle Inc0.41%
Unum Group0.37%
Toll Brothers Inc0.37%
BorgWarner Inc0.36%
BJ's Wholesale Club Holdings Inc0.34%
Arrow Electronics Inc0.34%
Crown Holdings Inc0.33%
CNH Industrial NV0.33%
Essential Utilities Inc0.33%
Alcoa Corp0.32%
First Horizon Corp0.32%
Watsco Inc0.32%
Knight-Swift Transportation Holdings Inc0.30%
Regal Rexnord Corp0.30%
Ally Financial Inc0.30%
Antero Resources Corp0.30%
Avantor Inc0.30%
GameStop Corp0.29%
Molina Healthcare Inc0.29%
Fidelity National Financial Inc0.29%
Southstate Bank Corp0.28%
American Homes 4 Rent0.28%
Darling Ingredients Inc0.28%
Wintrust Financial Corp0.28%
OGE Energy Corp0.28%
UMB Financial Corp0.27%
Owens Corning0.27%
Toro Co/The0.27%
Zions Bancorp NA0.27%
Saia Inc0.26%
American Airlines Group Inc0.26%
Ryder System Inc0.26%
Corebridge Financial Inc0.26%
Range Resources Corp0.25%

Only in MDYG

2 securities, 0.9% of MDYG by weight

Glaukos Corp0.55%
Formfactor Inc0.38%

Weight gaps

The 100 widest of 245 Holdings in both funds.

Holding weights in IVOO and MDYG, widest gap first
Holding	Gap	IVOO	MDYG
Royal Gold IncRGLD	MDYG +0.76 points	0.59%	1.35%
Tenet Healthcare CorpTHC	MDYG +0.77 points	0.60%	1.37%
United Therapeutics CorpUTHR	MDYG +0.77 points	0.68%	1.45%
TechnipFMC PLCFTI	MDYG +0.72 points	0.78%	1.50%
Roku IncROKU	MDYG +0.68 points	0.59%	1.27%
ATI IncATI	MDYG +0.68 points	0.76%	1.44%
XPO IncXPO	MDYG +0.64 points	0.60%	1.24%
Toast IncTOST	MDYG +0.63 points	0.44%	1.07%
Exelixis IncEXEL	MDYG +0.62 points	0.42%	1.04%
RB Global IncRBA	MDYG +0.60 points	0.44%	1.04%
Neurocrine Biosciences IncNBIX	MDYG +0.58 points	0.42%	1.00%
ITT IncITT	MDYG +0.57 points	0.53%	1.10%
Woodward IncWWD	MDYG +0.55 points	0.57%	1.12%
API Group CorpAPG	MDYG +0.50 points	0.44%	0.94%
Talen Energy CorpTLN	MDYG +0.50 points	0.41%	0.91%
Jazz Pharmaceuticals PLCJAZZ	MDYG +0.48 points	0.44%	0.92%
Medpace Holdings IncMEDP	MDYG +0.48 points	0.41%	0.89%
Somnigroup International IncSGI	MDYG +0.47 points	0.42%	0.89%
Encompass Health CorpEHC	MDYG +0.46 points	0.35%	0.81%
Guidewire Software IncGWRE	MDYG +0.46 points	0.35%	0.81%
Elanco Animal Health IncELAN	MDYG +0.44 points	0.33%	0.77%
Five Below IncFIVE	MDYG +0.44 points	0.36%	0.80%
Curtiss-Wright CorpCW	MDYG +0.44 points	0.59%	1.03%
RBC Bearings IncRBC	MDYG +0.44 points	0.46%	0.90%
Texas Roadhouse IncTXRH	MDYG +0.43 points	0.30%	0.73%
Coeur Mining IncCDE	MDYG +0.42 points	0.53%	0.95%
CACI International IncCACI	MDYG +0.42 points	0.39%	0.81%
BrightSpring Health Services IncBTSG	MDYG +0.41 points	0.28%	0.69%
Coca-Cola Consolidated IncCOKE	MDYG +0.40 points	0.31%	0.71%
Penumbra IncPEN	MDYG +0.39 points	0.37%	0.76%
Tetra Tech IncTTEK	MDYG +0.37 points	0.25%	0.62%
Flowserve CorpFLS	MDYG +0.34 points	0.27%	0.61%
Halozyme Therapeutics IncHALO	MDYG +0.34 points	0.37%	0.71%
Ensign Group Inc/TheENSG	MDYG +0.34 points	0.29%	0.63%
New York Times Co/TheNYT	MDYG +0.32 points	0.27%	0.59%
HealthEquity IncHQY	MDYG +0.30 points	0.22%	0.52%
MACOM Technology Solutions Holdings IncMTSI	MDYG +0.30 points	0.58%	0.88%
Kinsale Capital Group IncKNSL	MDYG +0.30 points	0.20%	0.50%
Brinker International IncEAT	MDYG +0.29 points	0.24%	0.53%
BWX Technologies IncBWXT	MDYG +0.29 points	0.37%	0.66%
CareTrust REIT IncCTRE	MDYG +0.29 points	0.25%	0.54%
Affiliated Managers Group IncAMG	MDYG +0.28 points	0.28%	0.56%
Watts Water Technologies IncWTS	MDYG +0.28 points	0.29%	0.57%
Nextpower IncNXT	MDYG +0.27 points	0.35%	0.62%
nVent Electric PLCNVT	MDYG +0.27 points	0.76%	1.03%
Dynatrace IncDT	MDYG +0.26 points	0.49%	0.75%
Paylocity Holding CorpPCTY	MDYG +0.26 points	0.18%	0.44%
Carpenter Technology CorpCRS	MDYG +0.27 points	0.56%	0.83%
MasTec IncMTZ	MDYG +0.26 points	0.39%	0.65%
Hecla Mining CoHL	MDYG +0.25 points	0.34%	0.59%
FabrinetFN	MDYG +0.25 points	0.45%	0.70%
ExlService Holdings IncEXLS	MDYG +0.24 points	0.15%	0.39%
Churchill Downs IncCHDN	MDYG +0.24 points	0.15%	0.39%
Moog IncMOG.A	MDYG +0.23 points	0.32%	0.55%
Globus Medical IncGMED	MDYG +0.23 points	0.25%	0.48%
Arrowhead Pharmaceuticals IncARWR	MDYG +0.22 points	0.27%	0.49%
Krystal Biotech IncKRYS	MDYG +0.22 points	0.26%	0.48%
Entegris IncENTG	IVOO +0.22 points	0.69%	0.47%
UL Solutions IncULS	MDYG +0.22 points	0.15%	0.37%
TransUnionTRU	MDYG +0.22 points	0.27%	0.49%
Qualys IncQLYS	MDYG +0.21 points	0.19%	0.40%
Celsius Holdings IncCELH	MDYG +0.20 points	0.15%	0.35%
Manhattan Associates IncMANH	MDYG +0.20 points	0.34%	0.54%
FirstCash Holdings IncFCFS	MDYG +0.20 points	0.25%	0.45%
First Industrial Realty Trust IncFR	MDYG +0.20 points	0.23%	0.43%
Onto Innovation IncONTO	IVOO +0.19 points	0.44%	0.25%
InterDigital IncIDCC	MDYG +0.19 points	0.25%	0.44%
Appfolio IncAPPF	MDYG +0.19 points	0.14%	0.33%
Lincoln Electric Holdings IncLECO	MDYG +0.19 points	0.42%	0.61%
Wingstop IncWING	MDYG +0.19 points	0.08%	0.27%
Option Care Health IncOPCH	MDYG +0.18 points	0.10%	0.28%
Antero Midstream CorpAM	MDYG +0.18 points	0.20%	0.38%
SPX Technologies IncSPXC	MDYG +0.18 points	0.25%	0.43%
Planet Fitness IncPLNT	MDYG +0.18 points	0.09%	0.27%
Hexcel CorpHXL	MDYG +0.18 points	0.19%	0.37%
Ollie's Bargain Outlet Holdings IncOLLI	MDYG +0.18 points	0.15%	0.33%
LivaNova PLCLIVN	MDYG +0.18 points	0.12%	0.30%
Sabra Health Care REIT IncSBRA	MDYG +0.17 points	0.15%	0.32%
Ormat Technologies IncORA	MDYG +0.18 points	0.16%	0.34%
Travel + Leisure CoTNL	MDYG +0.17 points	0.11%	0.28%
Valaris LtdVAL	MDYG +0.17 points	0.15%	0.32%
Kratos Defense & Security Solutions IncKTOS	MDYG +0.17 points	0.23%	0.40%
Federated Hermes IncFHI	MDYG +0.15 points	0.12%	0.27%
Dropbox IncDBX	MDYG +0.16 points	0.14%	0.30%
Valvoline IncVVV	MDYG +0.16 points	0.11%	0.27%
Roivant Sciences LtdROIV	MDYG +0.15 points	0.58%	0.73%
Docusign IncDOCU	MDYG +0.15 points	0.38%	0.53%
Rambus IncRMBS	MDYG +0.15 points	0.34%	0.49%
Hims & Hers Health IncHIMS	MDYG +0.15 points	0.18%	0.33%
DT Midstream IncDTM	MDYG +0.14 points	0.36%	0.50%
Doximity IncDOCS	MDYG +0.14 points	0.11%	0.25%
Advanced Energy Industries IncAEIS	MDYG +0.14 points	0.33%	0.47%
Dycom Industries IncDY	MDYG +0.14 points	0.24%	0.38%
SiTime CorpSITM	MDYG +0.14 points	0.44%	0.58%
AGNC Investment CorpAGNC	MDYG +0.13 points	0.32%	0.45%
American Healthcare REIT IncAHR	MDYG +0.13 points	0.33%	0.46%
Boyd Gaming CorpBYD	MDYG +0.13 points	0.10%	0.23%
EnerSysENS	MDYG +0.13 points	0.19%	0.32%
Hyatt Hotels CorpH	MDYG +0.13 points	0.19%	0.32%
Acuity IncAYI	MDYG +0.12 points	0.27%	0.39%

All 400 IVOO holdings⁠All 247 MDYG 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.

IVOO vs MDYG Cost

Overpaying MDYG vs IVOO

$1,657

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

IVOO 0.07%
$1,480
MDYG 0.15%
$3,137

Amount$10,000

Years30 years

Cost over time

IVOO 0.07%
MDYG 0.15%
Overpaying

Year by year

Year	IVOO	MDYG	Overpaying
10	$128	$274	$146
20	$503	$1,071	$568
30	$1,480	$3,137	$1,657

Expense ratio

0.07%IVOO, cheaper
0.15%MDYG

IVOO0.07%MDYG0.15%

0.03%0.49%

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

IVOO 3rd cheapest of 11 funds

MDYG 5th cheapest of 11 funds

IVOO vs MDYG Dividends

Last 12 months to Nov 9, 2026

Yield (12M): IVOO 1.19%, better; MDYG 0.67%
Payout (12M): IVOO $1.50; MDYG $0.70
Last payment: IVOO $0.37; MDYG $0.23
Ex-dividend: IVOO Sep 23, 2026; MDYG Sep 21, 2026
Paid on: IVOO Sep 25, 2026; MDYG Sep 23, 2026
Frequency: IVOO Quarterly; MDYG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

IVOOQuarterly · 39 paymentsAll IVOO payments⁠

MDYGQuarterly · 38 paymentsAll MDYG payments⁠

IVOO vs MDYG Risk

Fall from peak · 5 years

IVOO
MDYG

Risk facts

VolatilityStd dev, 3 years: IVOO 15.2%, betterMDYG 15.9%
Return per unit of riskSharpe ratio, 3 years: IVOO 0.84, betterMDYG 0.79
Worst fallMax drawdown, 5 years: IVOO −24.2%, betterMDYG −29.3%
Market sensitivityBeta, 5 years: IVOO 1.03MDYG 1.07; Market = 1

Popular comparisons

IVOOAvsSPMDA
Vanguard S&P Mid-Cap 400 ETF · State Street SPDR Portfolio S&P 400 Mid Cap ETF
Expense ratio
0.07% · 0.03%
Category
MDYGBvsSPMDA
State Street SPDR S&P 400 Mid Cap Growth ETF · State Street SPDR Portfolio S&P 400 Mid Cap ETF
Expense ratio
0.15% · 0.03%
Category
IVOOAvsIJHA
Vanguard S&P Mid-Cap 400 ETF · iShares Core S&P Mid-Cap ETF
Expense ratio
0.07% · 0.05%
Category
MDYGBvsIJHA
State Street SPDR S&P 400 Mid Cap Growth ETF · iShares Core S&P Mid-Cap ETF
Expense ratio
0.15% · 0.05%
Category
IVOOAvsMDYB
Vanguard S&P Mid-Cap 400 ETF · State Street SPDR S&P MIDCAP 400 ETF Trust
Expense ratio
0.07% · 0.23%
Category
MDYGBvsMDYB
State Street SPDR S&P 400 Mid Cap Growth ETF · State Street SPDR S&P MIDCAP 400 ETF Trust
Expense ratio
0.15% · 0.23%
Category