MDYvsQVMMETF Comparison
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State Street SPDR S&P MIDCAP 400 ETF Trust (MDY) belongs to the US Mid Cap segment. Invesco S&P MidCap 400 QVM Multi-factor ETF (QVMM) is part of the US Multi-Factor segment. Both ETFs have the same top 3 sector exposures: Finance, Industrials and Technology. MDY is more expensive with a Total Expense Ratio (TER) of 0.23%, versus 0.15% for QVMM. MDY is up 11.08% year-to-date (YTD) with -$838M in YTD flows. QVMM performs better with 11.72% YTD performance, and +$5M in YTD flows. Run a side-by-side ETF comparison of MDY and QVMM below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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MDY vs QVMM performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/26/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MDY QVMM | +0.66%+1.01% | -3.74%-4.04% | +11.08%+11.72% | +11.23%+12.22% | +59.93%+62.63% | +39.01%+41.69% |
| Flows | MDY QVMM | +$169M+$676K | +$194M+$2M | -$838M+$5M | -$317M+$2M | -$775M+$38M | -$1.58B+$98M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MDY QVMM | +12.11%+12.09% | +14.99%+14.83% | +17.58%+17.56% | +19.65%+19.31% |
| Max drawdown | MDY QVMM | -8.21%-8.70% | -8.78%-8.70% | -23.91%-23.85% | -23.91%-23.85% |
| Max drawdown duration | MDY QVMM | 71d71d | 53d71d | 379d379d | 379d379d |
Trading data
MDY | QVMM | |
Last sale 10/26/2026 at 1:30 PM | $664.97 | $34.03 |
| Previous close 10/26/2026 | $660.16 | $33.76 |
| Consolidated volume 10/26/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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MDY | QVMM | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/26/2026 at 1:30 PM
Live
Closed
MDY | QVMM | |
|---|---|---|
| Last price | $664.97 | $34.03 |
| 1D performance | +0.73% | +0.80% |
| AuM | $25.80 B | $415.56 M |
| E/R | 0.23% | 0.15% |
Characteristics
MDY | QVMM | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | State Street Investment Management | Invesco |
| Benchmark | S&P MidCap 400 Index | S&P MidCap 400 Quality, Value & Momentum Top 90% Multi-factor Index |
| N° of holdings | 400 | 355 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 4, 1995 | June 30, 2021 |
| ESG | No | No |
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Exposure
Countries
MDY
USA
95.7%
Other
4.3%
QVMM
USA
96.46%
Other
3.54%
Sectors
MDY
Finance
22.65%
Industrials
16.23%
Technology
14.33%
Non-Energy Materi.
10.49%
Healthcare
10.19%
Other
26.11%
QVMM
Finance
23.02%
Industrials
17.98%
Technology
14.13%
Non-Energy Materi.
10.9%
Healthcare
8.64%
Other
25.34%
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Diversification
MDY
Total weight of top 15 holdings out of 15
10.81%
QVMM
Total weight of top 15 holdings out of 15
12.59%
Top 15 holdings
Data as of August 31, 2026
MDY
Twilio, Inc.
1.00%
Illumina, Inc.
0.90%
TechnipFMC plc
0.87%
Everpure, Inc.
0.82%
Okta, Inc.
0.81%
ATI, Inc.
0.78%
nVent Electric Plc
0.68%
Carpenter Technology Corp.
0.66%
US Foods Holding Corp.
0.64%
Tenet Healthcare Corp.
0.64%
XPO, Inc.
0.63%
United Therapeutics Corp.
0.60%
Curtiss-Wright Corp.
0.60%
Coeur Mining, Inc.
0.60%
Royal Gold, Inc.
0.59%
QVMM
Everpure, Inc.
1.15%
Illumina, Inc.
1.08%
Twilio, Inc.
1.04%
Okta, Inc.
0.97%
TechnipFMC plc
0.93%
ATI, Inc.
0.86%
nVent Electric Plc
0.83%
Tenet Healthcare Corp.
0.77%
Royal Gold, Inc.
0.77%
Entegris, Inc.
0.73%
United Therapeutics Corp.
0.72%
Curtiss-Wright Corp.
0.72%
XPO, Inc.
0.69%
Carpenter Technology Corp.
0.68%
US Foods Holding Corp.
0.67%
Frequently asked questions about MDY and QVMM
How have the MDY and QVMM ETFs performed in 2026?
As of October 26, 2026, MDY is up 11.08% year-to-date (YTD), while QVMM has returned 11.72%. That puts QVMM better performer ahead so far this year.
Which ETF is attracting more investor money: MDY or QVMM?
Year-to-date, the MDY ETF saw -$838M in flows, compared to +$5M for QVMM.
Which ETF is more volatile: MDY or QVMM?
Over the past year, MDY had a volatility of 14.99%, while QVMM experienced 14.83%.
Which ETF is bigger: MDY or QVMM?
As of October 26, 2026, MDY holds $25.80 B in assets under management (AUM), while QVMM manages $415.56 M.
What sectors do the MDY and QVMM ETFs invest in?
MDY leans toward sectors like Finance, Industrials and Technology. Meanwhile, QVMM focuses on Finance, Industrials and Technology.
What are the top holdings of the MDY ETF and QVMM ETF?
MDY top holdings include Twilio, Inc., Illumina, Inc. and TechnipFMC plc. QVMM holds in its top three: Everpure, Inc., Illumina, Inc. and Twilio, Inc..
Which ETF is more diversified: MDY or QVMM?
MDY holds 400 securities with 10.81% of its assets in the top 15. QVMM has 355 securities and a top 15 weight of 12.59%.
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