SPDR S&P 400 Mid Cap Growth ETF (MDYG) Valuation
MDYG valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 27.4 trailing earnings
- Forward P/E
- 18.0 analyst estimates
- Price / sales
- 2.92
- Price / book
- 4.32
- EV / EBITDA
- 14.6
- Earnings yield
- 3.66% inverse of P/E
- Dividend yield
- 0.84% of the holdings
- Return on equity
- 15.8% combined
- Net margin
- 10.7% combined
- Beta
- 1.08 weighted, vs S&P 500
MDYG valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| MDYG | 27.4 | 18.0 | 2.92 | 4.32 | 0.84% | 15.8% | 10.7% | 6.5% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
MDYG valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 24.8% | 32.9 | 21.4 | 2.50 | 4.91 | 0.57% | 14.9% |
| Technology | 22.2% | 42.0 | 20.8 | 4.05 | 6.44 | 0.10% | 15.3% |
| Healthcare | 17.1% | 33.4 | 17.7 | 3.05 | 4.60 | 0.04% | 13.8% |
| Consumer Cyclical | 7.9% | 17.3 | 14.3 | 1.54 | 5.45 | 1.06% | 31.6% |
| Financial Services | 7.5% | 13.7 | 10.8 | 2.49 | 2.45 | 1.65% | 17.9% |
| Real Estate | 6.2% | 19.2 | 20.6 | 7.41 | 2.31 | 5.51% | 12.0% |
| Basic Materials | 4.1% | 20.6 | 16.4 | 4.03 | 3.13 | 0.68% | 15.2% |
| Energy | 3.4% | 17.3 | 18.1 | 3.08 | 3.90 | 1.40% | 22.6% |
| Communication Services | 2.5% | 44.7 | 18.3 | 3.03 | 5.55 | 0.74% | 12.4% |
| Consumer Defensive | 2.0% | 28.9 | 17.5 | 1.94 | 4.78 | 0.16% | 16.5% |
| Utilities | 1.8% | 95.1 | 13.4 | 3.90 | 3.12 | 1.04% | 3.3% |
MDYG earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How MDYG weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
MDYG largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| OKTA | Okta, Inc. | 2.02% | 112.8 | 54.3 | 10.7 | — | 0.50% |
| FTI | TechnipFMC plc | 1.67% | 24.3 | 21.3 | 2.6 | 0.29% | 1.92% |
| UTHR | United Therapeutics Corporation | 1.45% | 19.1 | 16.4 | 7.2 | — | 2.13% |
| XPO | XPO Logistics, Inc. | 1.32% | 54.9 | 27.0 | 2.5 | — | 0.68% |
| THC | Tenet Healthcare Corporation | 1.26% | 10.5 | 12.5 | 1.0 | — | 3.35% |
| ATI | ATI Inc. | 1.22% | 54.4 | 28.8 | 5.4 | — | 0.63% |
| NVT | nVent Electric plc | 1.22% | 39.3 | 25.1 | 4.8 | 0.59% | 0.87% |
| ROKU | Roku, Inc | 1.21% | 65.8 | 39.1 | 4.4 | — | 0.52% |
| RGLD | Royal Gold, Inc. | 1.14% | 26.4 | 24.2 | 13.1 | 0.80% | 1.22% |
| WWD | Woodward, Inc. | 1.07% | 36.5 | 31.6 | 4.6 | 0.39% | 0.82% |
| ITT | ITT Inc. | 1.04% | 38.8 | 21.6 | 3.7 | 0.78% | 0.75% |
| DT | Dynatrace, Inc. | 1.04% | 122.2 | 29.6 | 8.5 | — | 0.24% |
| TOST | Toast, Inc. | 1.02% | 40.0 | 17.6 | 2.7 | — | 0.72% |
| CW | Curtiss-Wright Corporation | 1.00% | 34.6 | 28.4 | 5.1 | 0.21% | 0.81% |
| EXEL | Exelixis, Inc. | 0.97% | 19.6 | 13.6 | 6.3 | — | 1.39% |
| RBA | RB Global, Inc. | 0.95% | 36.3 | 17.1 | 3.2 | 1.57% | 0.74% |
| GWRE | Guidewire Software, Inc. | 0.93% | 103.6 | 34.8 | 9.4 | — | 0.25% |
| MTSI | MACOM Technology Solutions Holdings, Inc. | 0.93% | 83.5 | 32.3 | 17.2 | — | 0.31% |
| MEDP | Medpace Holdings, Inc. | 0.91% | 36.3 | 31.9 | 6.2 | — | 0.70% |
| APG | APi Group Corporation | 0.91% | — | 17.9 | 2.1 | — | −0.39% |
| TPX | Tempur Sealy International Inc | 0.89% | — | — | — | — | — |
| RBC | RBC Bearings Incorporated | 0.89% | 49.3 | 36.9 | 8.1 | — | 0.51% |
| TLN | Talen Energy Corporation | 0.87% | — | 9.9 | 4.5 | — | −0.28% |
| NBIX | Neurocrine Biosciences, Inc. | 0.86% | 19.9 | 14.1 | 4.1 | — | 1.21% |
| JAZZ | Jazz Pharmaceuticals plc | 0.84% | 14.4 | 10.9 | 3.0 | — | 1.64% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About MDYG valuation
Adding up its 241 holdings with company data, MDYG trades at 27.4 times trailing earnings and 18.0 times analysts' forward estimates, with a price-to-book ratio of 4.32 and a dividend yield of 0.84%. Its earnings yield of 3.66% is 1.67 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 13.6% of the fund and earn 12.6% of its combined profit. By sector, Utilities is the most expensive at 95.1 times earnings and Financial Services the cheapest at 13.7. Companies that lost money over the past year are 6.5% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 97.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: MDYG chart, MDYG performance, MDYG holdings, MDYG dividends.
MDYG valuation FAQ
What is the P/E ratio of MDYG?
Based on its holdings, MDYG has a trailing P/E of 27.4 and a forward P/E of 18.0 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of MDYG?
The trailing earnings yield is 3.66% (1 ÷ P/E) and the forward earnings yield 5.56%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is MDYG more expensive than the S&P 500?
MDYG trades at 27.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 18.0 and 19.9.
What is the price-to-book ratio of MDYG?
The holdings of MDYG trade at 4.32 times book value, with a combined return on equity of 15.8%.
Which sector in MDYG has the highest P/E?
Utilities has the highest P/E at 95.1 and Financial Services the lowest at 13.7.