Dividend comparison
MDY vs SCHM: Which Is Better?
Fees, yield, total returns, drawdowns, holdings overlap and dividend history for State Street SPDR S&P MIDCAP 400 ETF Trust and Schwab U.S. Mid-Cap ETF, side by side. Updated October 21, 2026.
MDY vs SCHM: key differences
The short answer, from the latest data on this page.
- Fees. SCHM is cheaper at 0.03% a year versus 0.23% for MDY. On $10,000 that is $20 a year less in fees.
- Income. SCHM pays more income, yielding 1.29% over the last twelve months versus 1.05% for MDY. That is about $23 more a year on $10,000. MDY pays semi-annual, SCHM pays quarterly.
- Performance. Over the last 5 years, MDY returned 38.2% versus 38.1% for SCHM, with dividends reinvested. $10,000 would have grown to $13,823 in MDY and $13,814 in SCHM.
- Risk. SCHM has been the bumpier ride. Its worst peak-to-trough decline over the last 5 years was -26.5%, against -24.0% for MDY.
- Diversification. SCHM holds 504 positions and MDY holds 400. The ten largest positions make up 8.1% of MDY and 12.3% of SCHM.
- Overlap. At least 18% of the two portfolios overlap by weight, across 48 shared holdings. They mostly own different companies, so they can complement each other.
- Dividend growth. SCHM grew its yearly payout 10.8% a year over the last 4 years, versus 8.5% for MDY.
Bottom line: SCHM has the edge on these figures, with lower fees and faster dividend growth. MDY does not lead on any of the measures compared here.
Side-by-side snapshot
Trailing twelve-month figures where available. Higher yield is highlighted — not a buy recommendation.
| Metric | MDY State Street SPDR S&P MIDCAP 400 ETF Trust | SCHM Schwab U.S. Mid-Cap ETF |
|---|---|---|
| Dividend yield (TTM) | 1.05% | 1.29% |
| Dividend / share (TTM) | $7.02 | $0.44 |
| Payout frequency | Semi-annual | Quarterly |
| Last dividend | $1.7022 on Jul 31, 2026 | $0.1287 on Sep 28, 2026 |
| Ex-dividend date | Sep 18, 2026 | Sep 23, 2026 |
| Next payment | $1.6035 on Oct 30, 2026 | — |
| Dividend growth (CAGR) | 8.5% over 4 yrs | 10.8% over 4 yrs |
| Price | $666.92 | $34.59 |
| Dividend growth streak | 5 years | 5 years |
| Beta | 1.01 | 1.06 |
| Max drawdown (5Y) | -24.0% | -26.5% |
| Market cap | $25.53B | $14.46B |
| Exchange | AMEX | AMEX |
| Expense ratio | 0.23% | 0.03% |
| Assets under management | $25.58B | $14.46B |
| Number of holdings | 400 | 504 |
| Top 10 concentration | 8.1% | 12.3% |
Income on a $10,000 investment
Illustrative only — assumes current TTM yield stays constant. Actual distributions change.
MDY
$8.77/mo
$105 /yr at 1.05% yield
SCHM
$10.71/mo
$129 /yr at 1.29% yield
Dividend history
Total dividends paid per share in each calendar year. MDY pays semi-annual; SCHM pays quarterly.
| Year | MDY | SCHM |
|---|---|---|
| 2025 | $6.8109 | $0.4380 |
| 2024 | $6.5518 | $0.3967 |
| 2023 | $5.9265 | $0.3771 |
| 2022 | $5.8700 | $0.3967 |
| 2021 | $4.9066 | $0.2910 |
Strategy: Small and mid cap
Funds that hold companies below the large-cap tier, where there is more room for growth and less coverage by analysts. Small-cap indexes differ meaningfully: some screen for profitability, some include every listed company, and value-tilted funds lean toward the cheapest names. Those rules drive more of the difference between funds than fees do.
Smaller companies are more sensitive to recessions and borrowing costs, so drawdowns run deeper than in large-cap funds.
Performance
Total returns with dividends reinvested, from the adjusted closing price series. $10,000 invested on Oct 20, 2021 would now be worth $13,823 in MDY and $13,814 in SCHM.
| Period | MDY | SCHM |
|---|---|---|
| 1 month | 0.04% | -0.37% |
| 3 months | -3.17% | -0.20% |
| Year to date | 10.55% | 16.11% |
| 1 year | 11.91% | 17.61% |
| 3 years | 56.30% | 66.86% |
| 5 years | 38.23% | 38.14% |
- MDY
- SCHM
Both series indexed to 100 on 2021-10-20 using the adjusted closing price series. Past performance does not guarantee future results.
Sector allocation
Weight of each sector within the fund. Sectors are aligned on the same row so the two funds can be read against each other directly.
- MDY
- SCHM
MDY vs SCHM holdings overlap
At least 18% overlap by weight, with 48 holdings in common. Overlap adds up the smaller of the two weights for every stock both funds own, so 100% would mean identical portfolios.
| Largest shared holdings | MDY weight | SCHM weight |
|---|---|---|
| OKTAOkta Inc. Class A | 0.91% | 0.65% |
| TWLOTwilio Inc. Class A | 0.96% | 0.64% |
| FTITechnipFMC plc | 0.80% | 0.59% |
| ATIATI Inc | 0.74% | 0.51% |
| UTHRUnited Therapeutics Corporation | 0.67% | 0.48% |
| USFDUS Foods Holding Corp. | 0.65% | 0.46% |
| XPOXPO Inc. | 0.64% | 0.46% |
| THCTenet Healthcare Corporation | 0.63% | 0.45% |
| NVTnVent Electric plc | 0.67% | 0.45% |
| ENTGEntegris Inc. | 0.62% | 0.44% |
Top 10 holdings
Largest positions by portfolio weight.
MDY400 holdings total
Quick verdict
SCHM has the edge on these figures, with lower fees and faster dividend growth. MDY does not lead on any of the measures compared here. Model the holding inside your real portfolio before deciding.
Still deciding? Compare them in your portfolio
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Frequently asked questions
Is MDY or SCHM better for dividend income?
It depends on your goals. MDY currently yields 1.05% Trailing Twelve Months (TTM) while SCHM yields 1.29%. Higher yield means more current income per dollar invested, but may come with different risk, growth, or NAV characteristics. Compare total return and payout sustainability — not just the headline yield.
What is the difference between MDY and SCHM?
State Street SPDR S&P MIDCAP 400 ETF Trust (MDY) is an ETF listed on AMEX. Schwab U.S. Mid-Cap ETF (SCHM) is an ETF listed on AMEX. Side-by-side metrics on this page cover yield, fees, returns, drawdowns, holdings overlap and dividend history when available.
Which is cheaper, MDY or SCHM?
SCHM has the lower expense ratio. MDY charges 0.23% a year and SCHM charges 0.03%, a difference of $20 a year on a $10,000 investment.
Which has performed better, MDY or SCHM?
Over the last 5 years, MDY has the higher total return with dividends reinvested: MDY returned 38.2% and SCHM returned 38.1%. Past performance does not predict future returns.
Which is riskier, MDY or SCHM?
Measured by the worst peak-to-trough decline over the last five years, SCHM has been riskier: MDY fell as much as 24.0% and SCHM as much as 26.5%. Their betas are 1.01 and 1.06.
How much do MDY and SCHM overlap?
At least 18% of the two portfolios overlap by weight, across 48 shared holdings. The largest shared positions are OKTA, TWLO, FTI. Holding both still adds meaningful diversification.
How often do MDY and SCHM pay dividends?
MDY pays semi-annual and SCHM pays quarterly.
How much income does $10,000 in MDY vs SCHM generate?
At current TTM yields, $10,000 in MDY would generate roughly $8.77 per month ($105 annually). The same amount in SCHM would produce about $10.71 per month ($129 annually). Actual payouts vary with distribution changes and reinvestment.
Can I hold both MDY and SCHM?
Yes. Many income investors hold both to diversify strategy or index exposure. Whether the combination actually diversifies depends on overlapping holdings and factor exposure. Model both inside Dividend Wealth to see combined income, sector mix, and forecast impact.
Where can I compare MDY vs SCHM with my full portfolio?
Create a free Dividend Wealth account to import or enter holdings, forecast dividend income, and see how MDY and SCHM fit alongside the rest of your portfolio. A 14-day free trial of Standard is available with no credit card required; a limited Free plan is also available.
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For informational and educational purposes only. Not investment advice. Past performance and current yields do not guarantee future results. Verify figures independently before making investment decisions.