MCOW vs SPMD: Grades, Fees and Holdings Compared

Pacer S&P MidCap 400 Quality FCF Aristocrats ETF

MCOWDCboe

State Street SPDR Portfolio S&P 400 Mid Cap ETF

SPMDANYSE Arca

Overlap

19.2%by weight

Expense ratio

SPMD −0.46pt a year

MCOW0.49%SPMD0.03%

Avg volume · 30D

SPMD 1365.1×the volume

MCOW1.27KSPMD1.73M

MCOW vs SPMD Performance

Nov 7, 2025 – Nov 9, 2026

+13.2%MCOW+16.1%SPMD

Expense ratio: MCOW 0.49%; SPMD 0.03%, better
Fund size: MCOW $1M; SPMD $18.4B
1Y total return: MCOW +13.2%; SPMD +16.1%, better
Yield (12M): MCOW No data; SPMD 1.29%
Holdings: MCOW 81; SPMD 402
Avg volume (30D): MCOW 1.27K sh; SPMD 1.73M sh, better
NAV per share: MCOW $21.83; SPMD $63.19
52W range

ETF.net Grade

Pillar letters and Scores for MCOW, SPMD, with each pillar’s weight
Pillar	MCOW	SPMD
Cost30% weight	F5	A96Higher
Mission25% weight	A89	A100Higher
Risk15% weight	F10	B57Higher
Tradability15% weight	F24	A81Higher
Holdings10% weight	D25	A85Higher
Durability5% weight	F6	A73Higher

Rank among S&P MidCap 400 funds

How we build Categories ›

Same Category. MCOW 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 MCOW 11th 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 10CMIDEXtrackers S&P MidCap 400 Scored & Screened ETFScore 40
Rank 11DMCOWPacer S&P MidCap 400 Quality FCF Aristocrats ETFScore 31

Our read on each fund

ETF.net Research

MCOWDPacer S&P MidCap 400 Quality FCF Aristocrats ETF

SPMDAState Street SPDR Portfolio S&P 400 Mid Cap ETF

In short

MCOW No data

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

MCOW No data

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

MCOW No data

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

MCOW No data

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 MCOW profile⁠

Full SPMD profile⁠

MCOW vs SPMD Holdings

How MCOW and SPMD differ

Overlap by weight

19.2%

Shared holdings make up 99.9% of MCOW and 19.2% of SPMD.

Level by level

Holdings79 in both19.2%
Sector11 Sectors66.9%
Countryby domicile98.5%
Asset classStocks100%

Sector

Sector weights in MCOW and SPMD, widest gap first
Sector	Gap	MCOW	SPMD
Technology	MCOW +23.2 points	34.6%	11.3%
Financials	SPMD +11.3 points	4.7%	16.0%
Health Care	MCOW +8.7 points	19.8%	11.1%
Real Estate	SPMD +7.6 points	0.0%	7.6%
Consumer Discretionary	SPMD +3.9 points	7.2%	11.1%
Materials	SPMD +3.7 points	2.4%	6.0%
Utilities	SPMD +3.4 points	0.0%	3.4%
Industrials	SPMD +1.8 points	21.4%	23.2%
Consumer Staples	SPMD +1.6 points	1.9%	3.5%
Communication	MCOW +1.0 points	2.7%	1.7%
Energy	MCOW +0.1 points	5.2%	5.1%

Country, concentration and asset class

Country by domicile

Country weights in MCOW and SPMD, widest gap first
Country	Gap	MCOW	SPMD
United States	MCOW +1.2 points	99.5%	98.3%
United Kingdom	SPMD +1.1 points	0.0%	1.1%
Other countries (3)	SPMD +0.1 points	0.5%	0.6%

Concentration

Weight in the 10 largest Holdings

MCOW33.2%
SPMD6.7%

Securities held

MCOW79
SPMD400

Asset class

MCOW: Stocks
SPMD: Stocks

Holdings

Only in MCOW0
In both79
Only in SPMD321

Only in MCOW

0 securities, 0.0% of MCOW by weight

Only in SPMD

321 securities, 80.7% of SPMD by weight

United Therapeutics Corp0.72%
Ati Inc0.71%
Us Foods Holding Corp0.69%
Tenet Healthcare Corp0.68%
Royal Gold Inc0.67%
Reliance Inc0.63%
Roku Inc0.63%
Roivant Sciences Ltd0.63%
Xpo Inc0.62%
Entegris Inc0.58%
Woodward Inc0.56%
Sharkninja Inc0.55%
Itt Inc0.55%
Permian Resources Corp Class A0.54%
Toast Inc Class A0.53%
East West Bancorp Inc0.53%
Td Synnex Corp0.52%
Rb Global Inc0.52%
Nvent Electric PLC0.51%
Reinsurance Group of America0.51%
Jones Lang Lasalle Inc0.51%
Performance Food Group Co0.51%
Ovintiv Inc0.50%
Nextpower Inc0.47%
Coeur Mining Inc0.47%
Nutanix Inc A0.47%
Api Group Corp0.47%
Transunion0.46%
Burlington Stores Inc0.46%
Pinnacle Financial Partners0.45%
Talen Energy Corp0.45%
Hf Sinclair Corp0.45%
Rbc Bearings Inc0.45%
Wp Carey Inc0.44%
Somnigroup International Inc0.44%
Macom Technology Solutions H0.44%
Sun Communities Inc0.44%
Omega Healthcare Investors0.44%
Renaissancere Holdings Ltd0.43%
Wesco International Inc0.43%
Toll Brothers Inc0.43%
Clean Harbors Inc0.42%
Annaly Capital Management In0.42%
Bj’s Wholesale Club Holdings0.42%
Aramark0.41%
Carpenter Technology0.41%
Lamar Advertising Co A0.41%
Encompass Health Corp0.40%
Caci International Inc Class A0.40%
Guidewire Software Inc0.40%

Weight gaps

All 79 Holdings in both funds, largest gap first.

Holding weights in MCOW and SPMD, widest gap first
Holding	Gap	MCOW	SPMD
Manhattan Associates IncMANH	MCOW +4.19 points	4.63%	0.44%
Docusign IncDOCU	MCOW +4.17 points	4.61%	0.44%
Medpace Holdings IncMEDP	MCOW +4.11 points	4.55%	0.44%
Exelixis IncEXEL	MCOW +3.29 points	3.80%	0.51%
Lattice Semiconductor CorpLSCC	MCOW +3.18 points	3.62%	0.44%
Jazz Pharmaceuticals PLCJAZZ	MCOW +2.26 points	2.71%	0.45%
Qualys IncQLYS	MCOW +2.22 points	2.42%	0.20%
Rambus IncRMBS	MCOW +1.91 points	2.15%	0.24%
Mueller Industries IncMLI	MCOW +1.89 points	2.24%	0.35%
InterDigital IncIDCC	MCOW +1.85 points	2.06%	0.22%
Neurocrine Biosciences IncNBIX	MCOW +1.81 points	2.31%	0.50%
Commvault Systems IncCVLT	MCOW +1.69 points	1.89%	0.20%
Dropbox IncDBX	MCOW +1.62 points	1.77%	0.15%
TechnipFMC PLCFTI	MCOW +1.54 points	2.28%	0.74%
Carlisle Cos IncCSL	MCOW +1.42 points	1.86%	0.44%
Paylocity Holding CorpPCTY	MCOW +1.41 points	1.63%	0.22%
Graco IncGGG	MCOW +1.39 points	1.72%	0.33%
Lincoln Electric Holdings IncLECO	MCOW +1.37 points	1.82%	0.45%
Corcept Therapeutics IncCORT	MCOW +1.32 points	1.53%	0.21%
DT Midstream IncDTM	MCOW +1.29 points	1.64%	0.35%
H&R Block IncHRB	MCOW +1.24 points	1.43%	0.19%
HubSpot IncHUBS	MCOW +1.19 points	1.49%	0.30%
Antero Midstream CorpAM	MCOW +1.15 points	1.34%	0.19%
Curtiss-Wright CorpCW	MCOW +1.15 points	1.66%	0.51%
MGIC Investment CorpMTG	MCOW +1.11 points	1.29%	0.17%
Crocs IncCROX	MCOW +1.10 points	1.32%	0.22%
Essent Group LtdESNT	MCOW +1.10 points	1.27%	0.17%
Allison Transmission Holdings IncALSN	MCOW +1.08 points	1.37%	0.29%
Doximity IncDOCS	MCOW +1.08 points	1.20%	0.12%
Sterling Infrastructure IncSTRL	MCOW +1.07 points	1.30%	0.23%
Bentley Systems IncBSY	MCOW +1.05 points	1.26%	0.21%
Chemed CorpCHE	MCOW +0.95 points	1.16%	0.21%
New York Times Co/TheNYT	MCOW +0.92 points	1.21%	0.29%
Coca-Cola Consolidated IncCOKE	MCOW +0.91 points	1.26%	0.35%
HealthEquity IncHQY	MCOW +0.87 points	1.13%	0.26%
Appfolio IncAPPF	MCOW +0.80 points	0.97%	0.17%
Advanced Drainage Systems IncWMS	MCOW +0.80 points	1.06%	0.26%
Cirrus Logic IncCRUS	MCOW +0.79 points	0.96%	0.17%
Acuity IncAYI	MCOW +0.78 points	1.07%	0.29%
Tetra Tech IncTTEK	MCOW +0.74 points	1.05%	0.31%
Onto Innovation IncONTO	MCOW +0.69 points	0.94%	0.25%
Watts Water Technologies IncWTS	MCOW +0.67 points	0.95%	0.28%
Voya Financial IncVOYA	MCOW +0.66 points	0.93%	0.27%
Exponent IncEXPO	MCOW +0.67 points	0.79%	0.12%
Cognex CorpCGNX	MCOW +0.64 points	0.88%	0.24%
Lantheus Holdings IncLNTH	MCOW +0.63 points	0.83%	0.20%
Watsco IncWSO	MCOW +0.63 points	0.95%	0.32%
Donaldson Co IncDCI	MCOW +0.58 points	0.87%	0.29%
Landstar System IncLSTR	MCOW +0.55 points	0.70%	0.15%
Wyndham Hotels & Resorts IncWH	MCOW +0.55 points	0.72%	0.17%
Grand Canyon Education IncLOPE	MCOW +0.54 points	0.63%	0.09%
Eagle Materials IncEXP	MCOW +0.53 points	0.70%	0.17%
Dolby Laboratories IncDLB	MCOW +0.51 points	0.62%	0.11%
Applied Industrial Technologies IncAIT	MCOW +0.49 points	0.80%	0.31%
Simpson Manufacturing Co IncSSD	MCOW +0.48 points	0.72%	0.24%
Littelfuse IncLFUS	MCOW +0.48 points	0.75%	0.27%
UL Solutions IncULS	MCOW +0.47 points	0.65%	0.18%
Toro Co/TheTTC	MCOW +0.46 points	0.76%	0.30%
Nexstar Media Group IncNXST	MCOW +0.45 points	0.61%	0.16%
Globus Medical IncGMED	MCOW +0.44 points	0.68%	0.24%
ExlService Holdings IncEXLS	MCOW +0.42 points	0.62%	0.20%
NewMarket CorpNEU	MCOW +0.41 points	0.57%	0.16%
Universal Display CorpOLED	MCOW +0.40 points	0.51%	0.11%
Wingstop IncWING	MCOW +0.39 points	0.52%	0.13%
FirstCash Holdings IncFCFS	MCOW +0.39 points	0.61%	0.22%
Sirius XM Holdings IncSIRI	MCOW +0.39 points	0.57%	0.18%
Gentex CorpGNTX	MCOW +0.35 points	0.47%	0.12%
Bath & Body Works IncBBWI	MCOW +0.34 points	0.47%	0.13%
Genpact LtdG	MCOW +0.33 points	0.52%	0.19%
Choice Hotels International IncCHH	MCOW +0.32 points	0.39%	0.07%
Morningstar IncMORN	MCOW +0.31 points	0.45%	0.14%
YETI Holdings IncYETI	MCOW +0.26 points	0.36%	0.10%
Vontier CorpVNT	MCOW +0.26 points	0.43%	0.17%
UFP Industries IncUFPI	MCOW +0.25 points	0.38%	0.13%
Warner Music Group CorpWMG	MCOW +0.22 points	0.36%	0.14%
MSC Industrial Direct Co IncMSM	MCOW +0.21 points	0.35%	0.14%
Synaptics IncSYNA	MCOW +0.18 points	0.32%	0.14%
Euronet Worldwide IncEEFT	MCOW +0.18 points	0.25%	0.07%
Crane NXT CoCXT	MCOW +0.16 points	0.24%	0.08%

All 81 MCOW 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.

MCOW vs SPMD Cost

Overpaying MCOW vs SPMD

$9,154

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

MCOW 0.49%
$9,792
SPMD 0.03%
$638

Amount$10,000

Years30 years

Cost over time

MCOW 0.49%
SPMD 0.03%
Overpaying

Year by year

Year	MCOW	SPMD	Overpaying
10	$883	$55	$828
20	$3,394	$216	$3,178
30	$9,792	$638	$9,154

Expense ratio

0.49%MCOW
0.03%SPMD, cheaper

SPMD0.03%MCOW0.49%

0.03%0.49%

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

SPMD cheapest of 11 funds

MCOW 11th cheapest of 11 funds

MCOW vs SPMD Dividends

Last 12 months to Nov 9, 2026

Yield (12M): MCOW No data; SPMD 1.29%
Payout (12M): MCOW No data; SPMD $0.84
Last payment: MCOW $0.01; SPMD $0.23
Ex-dividend: MCOW Sep 3, 2026; SPMD Sep 21, 2026
Paid on: MCOW Sep 8, 2026; SPMD Sep 23, 2026
Frequency: MCOW Quarterly; SPMD Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

MCOWQuarterly · 4 paymentsAll MCOW payments⁠

SPMDQuarterly · 39 paymentsAll SPMD payments⁠

MCOW vs SPMD Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: MCOW 13.1%since Sep 2025SPMD 15.1%
Return per unit of riskSharpe ratio, 3 years: MCOW 0.43since Sep 2025SPMD 0.85
Worst fallMax drawdown, 5 years: MCOW −15.0%since Aug 2025SPMD −24.1%
Market sensitivityBeta, 5 years: MCOW 0.85SPMD 1.02; Market = 1

Popular comparisons

MCOWDvsIJHA
Pacer S&P MidCap 400 Quality FCF Aristocrats ETF · iShares Core S&P Mid-Cap ETF
Expense ratio
0.49% · 0.05%
Category
SPMDAvsMDYB
State Street SPDR Portfolio S&P 400 Mid Cap ETF · State Street SPDR S&P MIDCAP 400 ETF Trust
Expense ratio
0.03% · 0.23%
Category
MCOWDvsIVOOA
Pacer S&P MidCap 400 Quality FCF Aristocrats ETF · Vanguard S&P Mid-Cap 400 ETF
Expense ratio
0.49% · 0.07%
Category
SPMDAvsIJHA
State Street SPDR Portfolio S&P 400 Mid Cap ETF · iShares Core S&P Mid-Cap ETF
Expense ratio
0.03% · 0.05%
Category
MCOWDvsMDYB
Pacer S&P MidCap 400 Quality FCF Aristocrats ETF · State Street SPDR S&P MIDCAP 400 ETF Trust
Expense ratio
0.49% · 0.23%
Category
SPMDAvsIVOOA
State Street SPDR Portfolio S&P 400 Mid Cap ETF · Vanguard S&P Mid-Cap 400 ETF
Expense ratio
0.03% · 0.07%
Category