Key stats
About SPDR S&P MidCap 400 ETF Trust
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Inception date
May 4, 1995
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Qualified dividends
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
State Street Global Advisors Trust Co.
Distributor
ALPS Distributors, Inc.
MDY, as one of the first ETFs to launch in the US, the fund offers extremely liquid exposure to a popular mid-cap index. It is one of several funds tracking the S&P mid-cap 400 Index. Unlike most competitors, MDY uses the unit investment trust structure, which requires a direct replication of its underlying index and doesn`t allow for reinvesting dividends between distribution dates or for lending out securities. While this older legal structure is perfectly serviceable, it hinders the fund`s tracking in comparison to competitors. Although the fund bills itself as mid-caps only, in comparison to our large-leaning benchmark it includes a small-cap tilt causing a lower average market cap. Still, the fund is a good representation of its segment of the market, taking no significant sector bets and avoiding concentrated holdings. While very long-term investors might prefer peer funds, MDY is a solid and extremely popular choice in the mid-cap space.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Finance
Producer Manufacturing
Stocks99.11%
Finance25.88%
Producer Manufacturing10.33%
Technology Services6.78%
Electronic Technology6.20%
Retail Trade6.13%
Health Technology5.63%
Consumer Services4.77%
Industrial Services4.16%
Non-Energy Minerals3.66%
Process Industries3.66%
Transportation3.17%
Consumer Non-Durables3.17%
Energy Minerals3.13%
Distribution Services2.88%
Utilities2.47%
Consumer Durables2.45%
Commercial Services2.10%
Health Services2.05%
Communications0.50%
Bonds, Cash & Other0.89%
Cash0.89%
Stock breakdown by region
North America98.17%
Europe1.83%
Latin America0.00%
Asia0.00%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history