MDYV vs SPMD: Grades, Fees and Holdings Compared

State Street SPDR S&P 400 Mid Cap Value ETF

MDYVBNYSE Arca

State Street SPDR Portfolio S&P 400 Mid Cap ETF

SPMDANYSE Arca

Overlap

63.9%by weight

Expense ratio

SPMD −0.12pt a year

MDYV0.15%SPMD0.03%

Avg volume · 30D

SPMD 16.2×the volume

MDYV101KSPMD1.64M

10Y return · a year

SPMD +0.7pt

MDYV+10.4%SPMD+11.1%

MDYV vs SPMD Performance

Oct 29, 2021 – Oct 30, 2026

+48.3%MDYV+41.5%SPMD

Expense ratio: MDYV 0.15%; SPMD 0.03%, better
Fund size: MDYV $2.82B; SPMD $18.9B
1Y total return: MDYV +15.7%, better; SPMD +14.4%
Yield (12M): MDYV 1.70%, better; SPMD 1.31%
Holdings: MDYV 298; SPMD 402
Avg volume (30D): MDYV 101K sh; SPMD 1.64M sh, better
NAV per share: MDYV $93.86; SPMD $65.00
52W range

ETF.net Grade

Pillar letters and Scores for MDYV, SPMD, with each pillar’s weight
Pillar	MDYV	SPMD
Cost30% weight	C51	A96Higher
Mission25% weight	A98	A100Higher
Risk15% weight	B60Higher	C52
Tradability15% weight	C54	A78Higher
Holdings10% weight	C51	A83Higher
Durability5% weight	B61	A73Higher

Rank among S&P MidCap 400 funds

How we build Categories ›

Same Category. MDYV 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 MDYV 5th 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 4BMDYState Street SPDR S&P MIDCAP 400 ETF TrustScore 66
Rank 5BMDYVState Street SPDR S&P 400 Mid Cap Value ETFScore 65
Rank 5BXJHiShares ESG Select Screened S&P Mid-Cap ETFScore 65

Our read on each fund

ETF.net Research

MDYVBState Street SPDR S&P 400 Mid Cap Value ETF

SPMDAState Street SPDR Portfolio S&P 400 Mid Cap ETF

In short

MDYV The value half of the S&P MidCap 400: roughly 300 of the index's cheaper-looking names, sorted by rulebook rather than manager hunch. Live since 2005, and it has never pretended to be anything else.

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

MDYV The Fund seeks to track the total return of an index representing medium-capitalization U.S. exchange-traded equities with value characteristics.

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

MDYV One job, and it's literal: the value sleeve of the S&P MidCap 400, tracked closely, with no manager discretion bolted on top.
0.15% a year, dead level with the median for S&P MidCap 400 funds, so the value screen arrives without a strategy-fund markup.
Running since 2005 and now a multi-billion-dollar fund spread across about 300 names, with cash paid out quarterly.

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

MDYV Plain exposure to the same parent index costs less: SPMD at 0.03%, IJH at 0.05%. The value split is what the extra buys.
Moderately traded rather than one of the volume monsters in the mid-cap aisle, which matters more the bigger the order.
By design it owns the value side and leaves the growth names of the 400 to its sibling, so it moves differently from the full index.

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 MDYV profile⁠

Full SPMD profile⁠

MDYV vs SPMD Holdings

How MDYV and SPMD differ

Overlap by weight

63.9%

Shared holdings make up 100% of MDYV and 67.8% of SPMD.

Level by level

Holdings296 in both63.9%
Sector11 Sectors81.9%
Countryby domicile99.0%
Asset classEquity100%

Sector

Sector weights in MDYV and SPMD, widest gap first
Sector	More in MDYVMore in SPMD	MDYV	SPMD
Financials	MDYV +6.9 points	22.2%	15.3%
Health Care	SPMD +6.6 points	3.8%	10.4%
Technology	SPMD +5.5 points	8.7%	14.2%
Industrials	SPMD +5.0 points	18.1%	23.1%
Energy	MDYV +2.9 points	8.6%	5.7%
Consumer Staples	MDYV +2.1 points	5.4%	3.3%
Consumer Discretionary	MDYV +1.8 points	12.1%	10.3%
Materials	MDYV +1.8 points	7.7%	5.9%
Real Estate	MDYV +1.5 points	8.5%	7.0%
Utilities	MDYV +1.2 points	4.4%	3.2%
Communication	SPMD +0.9 points	0.7%	1.6%

Country, concentration and asset class

Country by domicile

Country weights in MDYV and SPMD, widest gap first
Country	More in MDYVMore in SPMD	MDYV	SPMD
United States	MDYV +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

MDYV11.2%
SPMD7.1%

Securities held

MDYV296
SPMD400

Asset class

MDYV: Equity
SPMD: Equity

Holdings

Only in MDYV0
In both296
Only in SPMD104

Only in MDYV

0 securities, 0.0% of MDYV 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 MDYV and SPMD, widest gap first
Holding	More in MDYVMore in SPMD	MDYV	SPMD
Reliance IncRS	MDYV +0.66 points	1.31%	0.65%
Us Foods Holding CorpUSFD	MDYV +0.65 points	1.29%	0.64%
Permian Resources Corp Class APR	MDYV +0.63 points	1.25%	0.62%
Td Synnex CorpSNX	MDYV +0.60 points	1.19%	0.59%
Ovintiv IncOVV	MDYV +0.58 points	1.15%	0.57%
Wesco International IncWCC	MDYV +0.52 points	1.04%	0.52%
Sharkninja IncSN	MDYV +0.51 points	1.01%	0.50%
Hf Sinclair CorpDINO	MDYV +0.51 points	1.01%	0.50%
Reinsurance Group of AmericaRGA	MDYV +0.50 points	1.00%	0.50%
Jones Lang Lasalle IncJLL	MDYV +0.48 points	0.95%	0.47%
Performance Food Group CoPFGC	MDYV +0.45 points	0.89%	0.44%
Pinnacle Financial PartnersPNFP	MDYV +0.45 points	0.89%	0.44%
AramarkARMK	MDYV +0.43 points	0.86%	0.43%
Annaly Capital Management InNLY	MDYV +0.41 points	0.81%	0.40%
Toll Brothers IncTOL	MDYV +0.39 points	0.78%	0.39%
Bj’s Wholesale Club HoldingsBJ	MDYV +0.39 points	0.78%	0.39%
Unum GroupUNM	MDYV +0.38 points	0.76%	0.38%
Crown Holdings IncCCK	MDYV +0.37 points	0.74%	0.37%
Antero Resources CorpAR	MDYV +0.37 points	0.74%	0.37%
Range Resources CorpRRC	MDYV +0.37 points	0.73%	0.36%
Essential Utilities IncWTRG	MDYV +0.36 points	0.71%	0.35%
Avantor IncAVTR	MDYV +0.33 points	0.66%	0.33%
Arrow Electronics IncARW	MDYV +0.33 points	0.65%	0.32%
First Horizon CorpFHN	MDYV +0.33 points	0.65%	0.32%
Regal Rexnord CorpRRX	MDYV +0.32 points	0.63%	0.31%
Borgwarner IncBWA	MDYV +0.32 points	0.63%	0.31%
Ally Financial IncALLY	MDYV +0.32 points	0.63%	0.31%
Watsco IncWSO	MDYV +0.32 points	0.63%	0.31%
Ryder System IncR	MDYV +0.32 points	0.63%	0.31%
Alcoa CorpAA	MDYV +0.31 points	0.61%	0.30%
Wintrust Financial CorpWTFC	MDYV +0.31 points	0.61%	0.30%
Molina Healthcare IncMOH	MDYV +0.30 points	0.60%	0.30%
Southstate Bank CorpSSB	MDYV +0.30 points	0.60%	0.30%
Fidelity National FinancialFNF	MDYV +0.30 points	0.60%	0.30%
Toro CoTTC	MDYV +0.30 points	0.59%	0.29%
Oge Energy CorpOGE	MDYV +0.30 points	0.59%	0.29%
Booz Allen Hamilton HoldingsBAH	MDYV +0.30 points	0.59%	0.29%
American Homes 4 Rent AAMH	MDYV +0.29 points	0.58%	0.29%
Knight Swift TransportationKNX	MDYV +0.29 points	0.58%	0.29%
Umb Financial CorpUMBF	MDYV +0.29 points	0.57%	0.28%
Gamestop Corp Class AGME	MDYV +0.29 points	0.57%	0.28%
Cnh Industrial NVCNH	MDYV +0.29 points	0.57%	0.28%
Zions Bancorp NaZION	MDYV +0.28 points	0.56%	0.28%
Owens CorningOC	MDYV +0.28 points	0.56%	0.28%
Corebridge Financial IncCRBG	MDYV +0.27 points	0.54%	0.27%
Saia IncSAIA	MDYV +0.27 points	0.53%	0.26%
Maplebear IncCART	MDYV +0.27 points	0.53%	0.26%
Viper Energy Inc Class AVNOM	MDYV +0.27 points	0.53%	0.26%
Murphy Usa IncMUSA	MDYV +0.27 points	0.53%	0.26%
Voya Financial IncVOYA	MDYV +0.26 points	0.52%	0.26%
Columbia Banking System IncCOLB	MDYV +0.26 points	0.51%	0.25%
Prosperity Bancshares IncPB	MDYV +0.26 points	0.51%	0.25%
Darling Ingredients IncDAR	MDYV +0.26 points	0.51%	0.25%
Rexford Industrial Realty InREXR	MDYV +0.25 points	0.50%	0.25%
Old National BancorpONB	MDYV +0.25 points	0.49%	0.24%
American Airlines Group IncAAL	MDYV +0.25 points	0.49%	0.24%
Chord Energy CorpCHRD	MDYV +0.25 points	0.49%	0.24%
Aptargroup IncATR	MDYV +0.24 points	0.48%	0.24%
Ugi CorpUGI	MDYV +0.24 points	0.48%	0.24%
Cleveland Cliffs IncCLF	MDYV +0.24 points	0.47%	0.23%
Western Alliance BancorpWAL	MDYV +0.23 points	0.46%	0.23%
Corteva IncCTVA	MDYV +0.23 points	0.45%	0.22%
Avnet IncAVT	MDYV +0.22 points	0.44%	0.22%
Jefferies Financial Group InJEF	MDYV +0.22 points	0.44%	0.22%
Commerce Bancshares IncCBSH	MDYV +0.22 points	0.44%	0.22%
Pbf Energy Inc Class APBF	MDYV +0.22 points	0.43%	0.21%
Timken CoTKR	MDYV +0.22 points	0.43%	0.21%
Commercial Metals CoCMC	MDYV +0.21 points	0.42%	0.21%
Axalta Coating Systems LtdAXTA	MDYV +0.21 points	0.42%	0.21%
Matador Resources CoMTDR	MDYV +0.21 points	0.41%	0.20%
Nov IncNOV	MDYV +0.20 points	0.40%	0.20%
Valley National BancorpVLY	MDYV +0.19 points	0.39%	0.20%
Southwest Gas Holdings IncSWX	MDYV +0.20 points	0.39%	0.19%
United Bankshares IncUBSI	MDYV +0.20 points	0.39%	0.19%
Lithia Motors IncLAD	MDYV +0.19 points	0.38%	0.19%
First American FinancialFAF	MDYV +0.19 points	0.38%	0.19%
Macy’s IncM	MDYV +0.19 points	0.38%	0.19%
Fnb CorpFNB	MDYV +0.19 points	0.38%	0.19%
Terex CorpTEX	MDYV +0.19 points	0.38%	0.19%
Science Applications InteSAIC	MDYV +0.19 points	0.37%	0.18%
Fluor CorpFLR	MDYV +0.19 points	0.37%	0.18%
Glacier Bancorp IncGBCI	MDYV +0.19 points	0.37%	0.18%
Agco CorpAGCO	MDYV +0.18 points	0.36%	0.18%
Healthcare Realty Trust IncHR	MDYV +0.18 points	0.36%	0.18%
Black Hills CorpBKH	MDYV +0.18 points	0.36%	0.18%
Vf CorpVFC	MDYV +0.18 points	0.36%	0.18%
Ingredion IncINGR	MDYV +0.18 points	0.35%	0.17%
Sensata Technologies HoldplcST	MDYV +0.18 points	0.35%	0.17%
Rli CorpRLI	MDYV +0.18 points	0.35%	0.17%
Selective Insurance GroupSIGI	MDYV +0.18 points	0.35%	0.17%
Mks IncMKSI	SPMD +0.17 points	0.25%	0.42%
Lear CorpLEA	MDYV +0.17 points	0.34%	0.17%
Murphy Oil CorpMUR	MDYV +0.17 points	0.34%	0.17%
Gxo Logistics IncGXO	MDYV +0.16 points	0.33%	0.17%
Hancock Whitney CorpHWC	MDYV +0.16 points	0.33%	0.17%
Vornado Realty TrustVNO	MDYV +0.17 points	0.33%	0.16%
Home Bancshares IncHOMB	MDYV +0.17 points	0.33%	0.16%
Dt Midstream IncDTM	SPMD +0.16 points	0.21%	0.37%
Cnx Resources CorpCNX	MDYV +0.16 points	0.32%	0.16%
Lincoln Electric HoldingsLECO	SPMD +0.16 points	0.29%	0.45%

All 296 MDYV 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.

MDYV vs SPMD Cost

Overpaying MDYV vs SPMD

$2,499

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

MDYV 0.15%
$3,137
SPMD 0.03%
$638

Amount$10,000

Years30 years

Cost over time

MDYV 0.15%
SPMD 0.03%
Overpaying

Year by year

Year	MDYV	SPMD	Overpaying
10	$274	$55	$219
20	$1,071	$216	$855
30	$3,137	$638	$2,499

Expense ratio

0.15%MDYV
0.03%SPMD, cheaper

SPMD0.03%MDYV0.15%

0.03%0.49%

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

SPMD cheapest of 11 funds

MDYV 5th cheapest of 11 funds

MDYV vs SPMD Dividends

Last 12 months to Oct 30, 2026

Yield (12M): MDYV 1.70%, better; SPMD 1.31%
Payout (12M): MDYV $1.59; SPMD $0.84
Last payment: MDYV $0.39; SPMD $0.23
Ex-dividend: MDYV Sep 21, 2026; SPMD Sep 21, 2026
Paid on: MDYV Sep 23, 2026; SPMD Sep 23, 2026
Frequency: MDYV Quarterly; SPMD Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

MDYVQuarterly · 39 paymentsAll MDYV payments⁠

SPMDQuarterly · 39 paymentsAll SPMD payments⁠

MDYV vs SPMD Risk

Fall from peak · 5 years

MDYV
SPMD

Risk facts

VolatilityStd dev, 3 years: MDYV 15.8%SPMD 15.1%, better
Return per unit of riskSharpe ratio, 3 years: MDYV 0.81SPMD 0.85, better
Worst fallMax drawdown, 5 years: MDYV −22.6%, betterSPMD −24.1%
Market sensitivityBeta, 5 years: MDYV 0.97SPMD 1.02; Market = 1

MDYV and SPMD in the news

All news⁠

New ETFs
Hotchkis & Wiley added an ETF class to its 1997 mid-cap value fund
Oct 5, 2026MDYV

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MDYV vs SPMD

In short

Stated mandate

Why people hold it

Worth knowing

How MDYV and SPMD differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in MDYV

Only in SPMD

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Hotchkis & Wiley added an ETF class to its 1997 mid-cap value fund

How MDYV and SPMD differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in MDYV

Only in SPMD

Weight gaps