Data as of Oct 28, 2026.
MDY vs VBR: Differences, Returns & Fees
Over the year to Oct 28, 2026, MDY returned +12.8% to VBR's +17.6%; 41% of their weight is in the same names.
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Net assets: $25.9bn on Oct 27, 2026 for SPDR S&P MidCap 400 ETF Trust, and $35.1bn on Sep 30, 2026 for Vanguard Morningstar Small-Cap Value ETF.
Pair scorecard
VBR costs 0.18 points a year less; their one-year returns differ by 4.8 points; VBR is 1.4 times larger.
| Measure | MDY | VBR |
|---|---|---|
| Return | ||
| Total return, 1 year | +12.8% | +17.6% |
| Drawdown | ||
| Below its high | 6.5%, high on Aug 14, 2026 | 3.9%, high on Aug 14, 2026 |
| Benchmark | ||
| What it tracks | S&P MidCap 400 Index | Morningstar US Small Cap Value Index |
| Cost and size | ||
| Expense ratio | 0.23% | 0.05% |
| Net assets, as of Sep 30, 2026 | $25.2bn | $35.1bn |
| Holdings | ||
| Holdings in common | 41% | |
| Top ten holdings, share of the fund | 7.5% | 5.9% |
Holdings in common uses holdings dated Sep 30, 2026 and Oct 27, 2026. Method
Risk and return
Feb 6, 2004 to Oct 23, 2026 · 1,185 weekly returnsMDY returned slightly more: +700.8% to +674.1%. MDY swung slightly less: 20.6% to 21.8%. MDY fell less at its worst: −54.9% to −61.3%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | MDY | VBR | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +700.8% | +674.1% | MDY (slight) | Price change plus distributions, reinvested. |
| Annualized | +9.6% | +9.4% | Tie | Total return as a yearly rate. |
| Price return | +505.9% | +382.6% | MDY | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 20.6% | 21.8% | MDY (slight) | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 14.5% | 15.3% | MDY (slight) | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −54.9% | −61.3% | MDY | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.46 | 0.44 | MDY (slight) | Return above Treasury bills per unit of volatility. |
| Sortino | 0.65 | 0.63 | MDY (slight) | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.17 | 0.15 | MDY | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 1,185 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, MDY and VBR hold 41% of their money in the same securities at the same weight. Holdings dated Sep 30, 2026 and Oct 27, 2026.
half
41% in common
Only in one fund ↓
Side by side
MDY and VBR on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.
MDY and VBR do different jobs. What does each one do in a portfolio?
- What each follows. MDY follows S&P MidCap 400 Index and VBR follows Morningstar US Small Cap Value Index.
- Holdings in common. 41% of the weight is in the same securities (holdings dated Oct 27, 2026 and Sep 30, 2026).
- One-year total return. Over 1 year to Oct 28, 2026 MDY returned +12.8% and VBR +17.6% with distributions reinvested, a gap of 4.8 points.
Data as of Oct 28, 2026.
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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.
VBR
VBR tracks an index of Small-Cap Value. Over the year to Oct 28, 2026 it returned +17.6% with distributions reinvested. The prospectus expense ratio is 0.05% a year. By its holdings published by its issuer as of Sep 30, 2026, 30% of the fund by weight is stocks the S&P 500 also holds, across 822 positions, with the top ten at 5.9%. It sat 3.9% below its high of Aug 14, 2026 on Oct 28, 2026.
Questions people ask
- Which returned more over the last year, MDY or VBR?
- In the year to Oct 28, 2026, with distributions reinvested, MDY returned +12.8% and VBR +17.6%.
- Which is cheaper, MDY or VBR?
- VBR is cheaper, by 0.18 percentage points a year. That is about $18 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 VBR, data as of Oct 28, 2026. https://etfiq.com/compare/any/mdy-vs-vbr
ETFIQ. (Oct 28, 2026). MDY against VBR. Retrieved from https://etfiq.com/compare/any/mdy-vs-vbr
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