QVMMvsMDYETF Comparison
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Invesco S&P MidCap 400 QVM Multi-factor ETF (QVMM) belongs to the US Multi-Factor segment. State Street SPDR S&P MIDCAP 400 ETF Trust (MDY) is part of the US Mid Cap segment. Both ETFs have the same top 3 sector exposures: Finance, Industrials and Technology. QVMM is less expensive with a Total Expense Ratio (TER) of 0.15%, versus 0.23% for MDY. QVMM is up 15.38% year-to-date (YTD) with +$2M in YTD flows. MDY performs worse with 14.29% YTD performance, and -$947M in YTD flows. Run a side-by-side ETF comparison of QVMM and MDY 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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QVMM vs MDY performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 07/31/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | QVMM MDY | -1.18%-1.56% | +3.49%+3.51% | +15.38%+14.29% | +22.56%+20.50% | +46.44%+42.79% | +51.16%+47.31% |
| Flows | QVMM MDY | -$353K-$900M | -$353K-$381M | +$2M-$947M | -$1M-$655M | +$36M-$902M | +$98M-$2.15B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | QVMM MDY | +14.84%+14.83% | +15.46%+15.69% | +17.77%+17.80% | +19.36%+19.77% |
| Max drawdown | QVMM MDY | -4.70%-4.24% | -8.41%-8.78% | -23.85%-23.91% | -23.85%-23.91% |
| Max drawdown duration | QVMM MDY | 26d26d | 42d53d | 379d379d | 379d379d |
Trading data
QVMM | MDY | |
Last sale 7/31/2026 at 3:34 PM | $35.35 | $694.04 |
| Previous close 07/31/2026 | $35.32 | $686.32 |
| Consolidated volume 07/31/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of July 31, 2026
1-year trailing difference
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QVMM | MDY | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 7/31/2026 at 3:34 PM
Live
Closed
QVMM | MDY | |
|---|---|---|
| Last price | $35.35 | $694.04 |
| 1D performance | +0.08% | +1.12% |
| AuM | $427.92 M | $26.49 B |
| E/R | 0.15% | 0.23% |
Characteristics
QVMM | MDY | |
|---|---|---|
| Management strategy | Passive | Passive |
| Provider | Invesco | State Street Investment Management |
| Benchmark | S&P MidCap 400 Quality, Value & Momentum Top 90% Multi-factor Index | S&P MidCap 400 Index |
| N° of holdings | 360 | 400 |
| Asset class | Equities | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 30, 2021 | May 4, 1995 |
| ESG | No | No |
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Exposure
Countries
QVMM
USA
96.32%
Other
3.68%
MDY
USA
95.41%
Other
4.59%
Sectors
QVMM
Finance
22.85%
Industrials
20.27%
Technology
13.76%
Non-Energy Materi.
10.98%
Healthcare
7.49%
Other
24.64%
MDY
Finance
21.51%
Industrials
18.53%
Technology
15.28%
Non-Energy Materi.
10.61%
Healthcare
8.49%
Other
25.58%
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Diversification
QVMM
Total weight of top 15 holdings out of 15
11.99%
MDY
Total weight of top 15 holdings out of 15
11.09%
Top 15 holdings
Data as of June 30, 2026
QVMM
Curtiss-Wright Corp.
0.87%
nVent Electric Plc
0.85%
Sterling Infrastructure, Inc.
0.84%
MasTec, Inc.
0.83%
Illumina, Inc.
0.82%
MKS, Inc.
0.81%
Twilio, Inc.
0.81%
Carpenter Technology Corp.
0.80%
Entegris, Inc.
0.80%
Everpure, Inc.
0.79%
ATI, Inc.
0.78%
TechnipFMC plc
0.77%
Woodward, Inc.
0.74%
MACOM Technology Solutions Holdings, Inc.
0.74%
United Therapeutics Corp.
0.73%
MDY
Twilio, Inc.
0.86%
Carpenter Technology Corp.
0.84%
MKS, Inc.
0.82%
Curtiss-Wright Corp.
0.77%
nVent Electric Plc
0.75%
Entegris, Inc.
0.75%
ATI, Inc.
0.74%
Illumina, Inc.
0.73%
TechnipFMC plc
0.72%
Sterling Infrastructure, Inc.
0.70%
MasTec, Inc.
0.70%
Woodward, Inc.
0.69%
MACOM Technology Solutions Holdings, Inc.
0.68%
Everpure, Inc.
0.68%
XPO, Inc.
0.66%
Frequently asked questions about QVMM and MDY
How have the QVMM and MDY ETFs performed in 2026?
As of July 31, 2026, QVMM is up 15.38% year-to-date (YTD), while MDY has returned 14.29%. That puts QVMM better performer ahead so far this year.
Which ETF is attracting more investor money: QVMM or MDY?
Year-to-date, the QVMM ETF saw +$2M in flows, compared to -$947M for MDY.
Which ETF is more volatile: QVMM or MDY?
Over the past year, QVMM had a volatility of 15.46%, while MDY experienced 15.69%.
Which ETF is bigger: QVMM or MDY?
As of July 31, 2026, QVMM holds $427.92 M in assets under management (AUM), while MDY manages $26.49 B.
What sectors do the QVMM and MDY ETFs invest in?
QVMM leans toward sectors like Finance, Industrials and Technology. Meanwhile, MDY focuses on Finance, Industrials and Technology.
What are the top holdings of the QVMM ETF and MDY ETF?
QVMM top holdings include Curtiss-Wright Corp., nVent Electric Plc and Sterling Infrastructure, Inc.. MDY holds in its top three: Twilio, Inc., Carpenter Technology Corp. and MKS, Inc..
Which ETF is more diversified: QVMM or MDY?
QVMM holds 360 securities with 11.99% of its assets in the top 15. MDY has 400 securities and a top 15 weight of 11.09%.
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