Data as of Oct 28, 2026.
MDY vs USMV: Differences, Returns & Fees
Over the year to Oct 28, 2026, MDY returned +12.8% to USMV's +10.8%; 1% of their weight is in the same names.
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Net assets on Oct 27, 2026: $25.9bn for SPDR S&P MidCap 400 ETF Trust and $24.1bn for iShares MSCI USA Min Vol Factor ETF.
Pair scorecard
USMV costs 0.08 points a year less; their one-year returns differ by 2.0 points; MDY is 1.1 times larger.
| Measure | MDY | USMV |
|---|---|---|
| Return | ||
| Total return, 1 year | +12.8% | +10.8% |
| Drawdown | ||
| Below its high | 6.5%, high on Aug 14, 2026 | |
| Benchmark | ||
| What it tracks | S&P MidCap 400 Index | MSCI USA Minimum Volatility (USD) Index |
| Cost and size | ||
| Expense ratio | 0.23% | 0.15% |
| Net assets, as of Oct 27, 2026 | $25.9bn | $24.1bn |
| Holdings | ||
| Holdings in common | 1% | |
| Top ten holdings, share of the fund | 7.5% | 14.8% |
Holdings in common uses holdings dated Oct 27, 2026. Method
What they share
By the books each fund has filed, MDY and USMV hold 1% of their money in the same securities at the same weight. Holdings dated Oct 27, 2026.
half
1% in common
Only in one fund ↓
Side by side
MDY and USMV on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
MDY
MDY tracks the S&P MidCap 400. Over the year to Oct 28, 2026 it returned +12.8% with distributions reinvested, against +13.2% for its benchmark, the S&P MidCap 400 Index. The prospectus expense ratio is 0.23% a year. By its holdings published by its issuer for Oct 27, 2026, 0% of the fund by weight is stocks the S&P 500 also holds, across 401 positions, with the top ten at 7.5%. It sat 6.5% below its high of Aug 14, 2026 on Oct 28, 2026.
USMV
USMV tracks the MSCI USA Min Vol Factor. Over the year to Oct 28, 2026 it returned +10.8% with distributions reinvested. The prospectus expense ratio is 0.15% a year. By its holdings published by its issuer for Oct 27, 2026, 93% of the fund by weight is stocks the S&P 500 also holds, across 176 positions, with the top ten at 14.8%.
Questions people ask
- Which returned more over the last year, MDY or USMV?
- In the year to Oct 28, 2026, with distributions reinvested, MDY returned +12.8% and USMV +10.8%.
- Which is cheaper, MDY or USMV?
- USMV is cheaper, by 0.08 percentage points a year. That is about $8 on $10,000 held for a year. Fees come from each fund's prospectus.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
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ETFIQ, MDY against USMV, data as of Oct 28, 2026. https://etfiq.com/compare/any/mdy-vs-usmv
ETFIQ. (Oct 28, 2026). MDY against USMV. Retrieved from https://etfiq.com/compare/any/mdy-vs-usmv
[MDY against USMV (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/any/mdy-vs-usmv)
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