SPDR S&P MIDCAP 400 ETF (MDY) Performance
MDY total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +10.2% since Dec 31, 2025
- 1 year
- +11.4% total return
- 5 years
- +6.6% a year
- 10 years
- +10.4% a year
- Since first price
- +11.0% a year since 1995
MDY trailing returns vs SPY, QQQ, AGG
| Period | MDY total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.9% | −0.9% | −1.0% | −5.0% | +0.9% |
| 3 months | −3.8% | −4.0% | +3.2% | +1.9% | −0.4% |
| 6 months | +0.1% | −0.4% | +7.8% | +8.4% | −1.5% |
| YTD | +10.2% | +9.4% | +12.3% | +15.1% | −1.0% |
| 1 year | +11.4% | +10.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +57.9%+16.4%/yr | +52.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +37.7%+6.6%/yr | +29.6% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| 10 years | +169.5%+10.4%/yr | +137.7% | +315.9%+15.3%/yr | +538.9%+20.4%/yr | +14.0%+1.3%/yr |
| 15 years | +409.0%+11.5%/yr | +321.9% | +696.0%+14.8%/yr | +1,299.3%+19.2%/yr | +32.2%+1.9%/yr |
| 20 years | +493.1%+9.3%/yr | +362.0% | +696.9%+10.9%/yr | +1,839.9%+16.0%/yr | +79.6%+3.0%/yr |
| 30 years | +1,920.0%+10.5%/yr | +1,262.5% | +1,693.8%+10.1%/yr | — | — |
| Since inceptionMay 4, 1995 | +2,578.7%+11.0%/yr | +1,664.1% | — | — | — |
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: MDY vs SPY
From May 4, 1995: MDY grew to $267,874, SPY to $251,185.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MDY returns by calendar year
23 of 30 full years positive. Best 2009 (+37.6%), worst 2008 (−36.4%). 2026 is year to date.
MDY annual returns table
| Year | MDY | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +10.2% | −8.8% | +12.3% | +15.1% | −1.0% |
| 2025 | +7.2% | −21.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +13.6% | −8.4% | +24.9% | +25.6% | +1.3% |
| 2023 | +16.1% | −14.4% | +26.2% | +54.9% | +5.7% |
| 2022 | −13.3% | −22.7% | −18.2% | −32.6% | −13.0% |
| 2021 | +24.5% | −8.5% | +28.7% | +27.4% | −1.8% |
| 2020 | +13.5% | −42.2% | +18.3% | +48.6% | +7.5% |
| 2019 | +25.8% | −8.6% | +31.2% | +39.0% | +8.5% |
| 2018 | −11.3% | −23.2% | −4.6% | −0.1% | +0.1% |
| 2017 | +15.9% | −5.5% | +21.7% | +32.7% | +3.6% |
| 2016 | +20.5% | −10.1% | +12.0% | +7.1% | +2.4% |
| 2015 | −2.5% | −12.5% | +1.2% | +9.4% | +0.5% |
| 2014 | +9.4% | −10.6% | +13.5% | +19.2% | +6.0% |
| 2013 | +33.1% | −7.2% | +32.3% | +36.6% | −2.0% |
| 2012 | +17.8% | −11.1% | +16.0% | +18.1% | +3.8% |
| 2011 | −2.1% | −26.2% | +1.9% | +3.4% | +7.7% |
| 2010 | +26.3% | −17.4% | +15.1% | +19.9% | +6.4% |
| 2009 | +37.6% | −27.5% | +26.4% | +54.7% | +3.0% |
| 2008 | −36.4% | −53.1% | −36.8% | −41.7% | +7.9% |
| 2007 | +7.2% | −11.1% | +5.1% | +19.0% | +6.6% |
| 2006 | +10.0% | −12.5% | +15.8% | +7.1% | +3.9% |
| 2005 | +12.5% | −8.0% | +4.8% | +1.6% | +2.3% |
| 2004 | +15.9% | −10.5% | +10.7% | +10.5% | +3.8% |
| 2003 | +35.3% | −13.3% | +28.2% | +49.7% | — |
| 2002 | −14.5% | −32.0% | −21.6% | −37.4% | — |
| 2001 | −0.8% | −25.5% | −11.8% | −33.3% | — |
| 2000 | +17.3% | −14.0% | −9.7% | −36.1% | — |
| 1999 | +15.5% | −13.2% | +20.4% | — | — |
| 1998 | +17.1% | −27.7% | +28.7% | — | — |
| 1997 | +30.8% | −9.7% | +33.5% | — | — |
| 1996 | +15.5% | −12.4% | +22.6% | — | — |
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.
MDY largest drawdowns
Now 7.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 13, 2007 | −55.3% | Mar 9, 2009 | Dec 6, 2010 | 1.7 years | 3.4 years |
| Feb 20, 2020 | −42.2% | Mar 23, 2020 | Nov 9, 2020 | 32 days | 9 months |
| Apr 16, 2002 | −32.0% | Oct 9, 2002 | Oct 13, 2003 | 6 months | 1.5 years |
| Apr 22, 1998 | −27.7% | Oct 8, 1998 | Dec 31, 1998 | 6 months | 8 months |
| Apr 29, 2011 | −26.2% | Oct 3, 2011 | Mar 26, 2012 | 5 months | 11 months |
| Sep 7, 2000 | −25.6% | Sep 21, 2001 | Apr 10, 2002 | 1.0 years | 1.6 years |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
MDY risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 1995 |
|---|---|---|---|---|
| Annualized return | +14.2% | +7.7% | +10.2% | +11.0% |
| Volatility (annualized) | 15.5% | 18.2% | 18.6% | 17.7% |
| Sharpe ratio | 0.65 | 0.30 | 0.49 | — |
| Sortino ratio | 1.08 | 0.47 | 0.73 | — |
| Best month | +8.9% | +10.9% | +14.3% | +14.8% |
| Worst month | −7.2% | −9.6% | −20.2% | −21.5% |
| Best 12 months | +33.0% | +33.0% | +83.2% | +83.2% |
| Worst 12 months | −2.9% | −15.4% | −22.7% | −42.2% |
| Positive months | 58% | 53% | 62% | 62% |
| Beta vs S&P 500 | 1.00 | 1.01 | 1.09 | — |
| Correlation with S&P 500 | 0.80 | 0.87 | 0.90 | — |
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.
MDY rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 366 | −42.2% | +12.5% | +83.2% | 77% |
| 3-year (a year) | 342 | −15.5% | +11.2% | +30.9% | 90% |
| 5-year (a year) | 318 | −4.6% | +9.7% | +26.5% | 98% |
| 10-year (a year) | 258 | +3.3% | +10.0% | +17.0% | 100% |
Every holding period starting at a month-end since 1995. Returns for 3 years and longer are annualized.
MDY performance overview
SPDR S&P MIDCAP 400 ETF (MDY) returned +11.4% over the past year and +10.4% a year over ten years, with distributions reinvested. Since its first recorded price in 1995 it has returned +11.0% a year, turning $10,000 into about $267,874. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −55.3%, from Jul 13, 2007 to Mar 9, 2009, and it took 1.7 years to get back to the old high. MDY finished 23 of its 30 full calendar years with a gain; the best year was 2009 (+37.6%) and the worst 2008 (−36.4%). Volatility has been 17.7% a year.
Related: MDY chart, MDY holdings, MDY dividends, MDY valuation. See the MDY overview for the latest quote and fund facts.
MDY performance FAQ
What is the MDY return over the past year?
MDY returned +11.4% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 10.2%.
What is the average annual return of MDY?
MDY has returned +6.6% a year over 5 years, +10.4% a year over 10 years, +11.0% a year since May 4, 1995 (total return, distributions reinvested).
How much would $10,000 invested in MDY be worth?
$10,000 invested in MDY at its first recorded close on May 4, 1995 would be worth about $267,874 on October 23, 2026 with distributions reinvested.
What was the worst year for MDY?
The worst calendar year was 2008, with a total return of −36.4%. The best was 2009 at +37.6%.
What is the biggest drawdown of MDY?
The largest peak-to-trough decline was −55.3% between July 13, 2007 and March 9, 2009. It recovered to the old high on December 6, 2010, 1.7 years after the bottom.
How volatile is MDY?
Over the past 3 years MDY had an annualized volatility of 15.5% and a Sharpe ratio of 0.65 (excess return over 1–3 month T-bills per unit of risk).