First Trust Indxx Medical Devices ETF (MDEV) Performance
MDEV total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +5.1% since Dec 31, 2025
- 1 year
- +4.1% total return
- 5 years
- −3.6% a year
- Since first price
- −2.5% a year since 2021
MDEV trailing returns vs SPY, QQQ, AGG
| Period | MDEV total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +6.8% | +6.8% | −1.0% | −5.0% | +0.9% |
| 3 months | +14.7% | +14.7% | +3.2% | +1.9% | −0.4% |
| 6 months | +16.0% | +15.8% | +7.8% | +8.4% | −1.5% |
| YTD | +5.1% | +4.9% | +12.3% | +15.1% | −1.0% |
| 1 year | +4.1% | +4.0% | +14.4% | +15.9% | −1.1% |
| 3 years | +29.2%+8.9%/yr | +29.1% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | −17.0%−3.6%/yr | −17.0% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionJun 23, 2021 | −12.7%−2.5%/yr | −12.8% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: MDEV vs SPY
From Jun 23, 2021: MDEV grew to $8,726, SPY to $19,289.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MDEV returns by calendar year
3 of 4 full years positive. Best 2023 (+7.6%), worst 2022 (−28.6%). 2026 is year to date.
MDEV annual returns table
| Year | MDEV | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +5.1% | −18.1% | +12.3% | +15.1% | −1.0% |
| 2025 | +2.0% | −20.2% | +17.7% | +20.8% | +7.2% |
| 2024 | +1.8% | −9.0% | +24.9% | +25.6% | +1.3% |
| 2023 | +7.6% | −23.7% | +26.2% | +54.9% | +5.7% |
| 2022 | −28.6% | −38.2% | −18.2% | −32.6% | −13.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
MDEV largest drawdowns
Now 21.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Sep 7, 2021 | −42.3% | Sep 27, 2022 | not yet | 1.1 years | 5.1 years so far |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
MDEV risk statistics
| Statistic | 3 years | 5 years | Since 2021 |
|---|---|---|---|
| Annualized return | +4.8% | −4.3% | −3.8% |
| Volatility (annualized) | 16.2% | 19.5% | 19.3% |
| Sharpe ratio | 0.10 | -0.32 | -0.28 |
| Sortino ratio | 0.15 | -0.41 | -0.37 |
| Best month | +11.8% | +11.8% | +11.8% |
| Worst month | −9.1% | −13.4% | −13.4% |
| Best 12 months | +27.2% | +27.2% | +27.2% |
| Worst 12 months | −10.3% | −37.2% | −37.2% |
| Positive months | 56% | 50% | 51% |
| Beta vs S&P 500 | 0.74 | 0.94 | — |
| Correlation with S&P 500 | 0.56 | 0.75 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
MDEV rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 53 | −37.2% | −0.9% | +27.2% | 45% |
| 3-year (a year) | 29 | −8.5% | −0.9% | +9.8% | 48% |
| 5-year (a year) | 5 | −5.5% | −4.8% | −3.5% | 0% |
Every holding period starting at a month-end since 2021. Returns for 3 years and longer are annualized.
MDEV performance overview
First Trust Indxx Medical Devices ETF (MDEV) returned +4.1% over the past year and −3.6% a year over five years, with distributions reinvested. Since its first recorded price in 2021 it has returned −2.5% a year, turning $10,000 into about $8,726. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −42.3%, from Sep 7, 2021 to Sep 27, 2022; the fund has not yet regained that high. MDEV finished 3 of its 4 full calendar years with a gain; the best year was 2023 (+7.6%) and the worst 2022 (−28.6%). Volatility has been 19.3% a year.
Related: MDEV chart, MDEV holdings, MDEV dividends, MDEV valuation. See the MDEV overview for the latest quote and fund facts.
MDEV performance FAQ
What is the MDEV return over the past year?
MDEV returned +4.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 4.0%.
What is the average annual return of MDEV?
MDEV has returned −3.6% a year over 5 years, −2.5% a year since June 23, 2021 (total return, distributions reinvested).
How much would $10,000 invested in MDEV be worth?
$10,000 invested in MDEV at its first recorded close on June 23, 2021 would be worth about $8,726 on October 23, 2026 with distributions reinvested.
What was the worst year for MDEV?
The worst calendar year was 2022, with a total return of −28.6%. The best was 2023 at +7.6%.
What is the biggest drawdown of MDEV?
The largest peak-to-trough decline was −42.3% between September 7, 2021 and September 27, 2022. It has not yet recovered to that high; it is 21.4% below its peak.
How volatile is MDEV?
Over the past 3 years MDEV had an annualized volatility of 16.2% and a Sharpe ratio of 0.10 (excess return over 1–3 month T-bills per unit of risk).