MDYV ETF — Holdings & Analysis

The State Street SPDR S&P 400 Mid Cap Value ETF (MDYV) is an equity ETF with $2.38 billion in assets under management.

It aims to replicate the performance of the S&P MidCap 400 Value Index, focusing on mid-cap companies exhibiting strong value characteristics based on book value to price, earnings to price, and sales to price ratios. With an expense ratio of 0.15%, MDYV offers exposure to a diversified portfolio of mid-cap value stocks, primarily in the United States.

State Street SPDR S&P 400 Mid Cap Value ETF (MDYV) ETF — Price, Holdings & Analysis

The State Street SPDR S&P 400 Mid Cap Value ETF (MDYV) is an equity ETF with $2.38 billion in assets under management. It aims to replicate the performance of the S&P MidCap 400 Value Index, focusing on mid-cap companies exhibiting strong value characteristics based on book value to price, earnings to price, and sales to price ratios. With an expense ratio of 0.15%, MDYV offers exposure to a diversified portfolio of mid-cap value stocks, primarily in the United States.

ETF Overview

The State Street SPDR S&P 400 Mid Cap Value ETF seeks to provide investment results that, before fees and expenses, correspond generally to the total return performance of the S&P MidCap 400 Value Index (the "Index")The Index includes stocks exhibiting the strongest value characteristics based on: book value to price ratio; earnings to price ratio; and sales to price ratio

MDYV seeks to mirror the S&P MidCap 400 Value Index, targeting mid-sized U.S. companies identified as having strong value characteristics. The fund's selection criteria are based on fundamental ratios like book value to price, earnings to price, and sales to price, aiming to capture undervalued companies within the mid-cap space. This approach differentiates MDYV from broad market mid-cap ETFs by focusing specifically on value stocks. The ETF's top holdings include US Foods Holding Corp (1.30%), Reliance Inc (1.00%), and Alcoa Corp (0.97%), reflecting its value-oriented strategy. Sector allocation is heavily weighted towards Financial Services (21.6%) and Industrials (19.1%), with significant exposure to Consumer Cyclical (14.0%) and Real Estate (9.7%). MDYV is designed for investors seeking targeted exposure to mid-cap value stocks, potentially offering diversification benefits and value-driven returns.

Risk Metrics

MDYV carries several risks inherent to its investment strategy and holdings. Its focus on mid-cap value stocks means it may underperform during periods when growth stocks or large-cap stocks are favored. The ETF's sector allocation introduces concentration risk, with significant exposure to Financial Services and Industrials; downturns in these sectors could disproportionately impact MDYV's performance. With a beta of 1.10, MDYV is more volatile than the broader market. The fund's expense ratio of 0.15% creates a slight drag on returns, although it is relatively low. The lack of dividend yield (0.00%) may deter income-seeking investors. these may be worth researching factors when evaluating MDYV's suitability for their portfolios. Past performance does not guarantee future results.

Expense Ratio

0.15%

What does MDYV hold?

Holding	Weight
US Foods Holding Corp (USFD)	1.30%
Reliance Inc (RS)	1.00%
Alcoa Corp (AA)	0.97%
Annaly Capital Management Inc (NLY)	0.96%
Performance Food Group Co (PFGC)	0.92%
Toll Brothers Inc (TOL)	0.91%
Jones Lang LaSalle Inc (JLL)	0.90%
Regal Rexnord Corp (RRX)	0.88%
Watsco Inc Ordinary Shares (WSO)	0.88%
Ovintiv Inc (OVV)	0.86%

How Is the Fund Allocated?

Sector	Weight
Financial Services	21.6%
Industrials	19.1%
Consumer Cyclical	14.0%
Real Estate	9.7%
Technology	8.7%
Energy	6.5%
Basic Materials	6.2%
Consumer Defensive	5.8%
Utilities	4.2%
Healthcare	3.8%
Communication Services	0.5%

Country	Weight
United States	97.5%
United Kingdom	1.4%
Bermuda	0.8%
Sweden	0.2%
Other	0.1%

Dividend Yield

0.00%

State Street Energy Select Sector SPDR ETF (XLE) — 0.08% expense ratio
Invesco QQQ Trust, Series 1 (QQQ) — 0.18% expense ratio
State Street Technology Select Sector SPDR ETF (XLK) — 0.08% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) — 0.16% expense ratio
iShares Russell 2000 ETF (IWM) — 0.19% expense ratio
State Street Financial Select Sector SPDR ETF (XLF) — 0.08% expense ratio
iShares MSCI Emerging Markets ETF (EEM) — 0.72% expense ratio
iShares MSCI EAFE ETF (EFA) — 0.32% expense ratio

State Street Technology Select Sector SPDR ETF (XLK) (Equity) — 0.08% expense ratio
State Street Energy Select Sector SPDR ETF (XLE) (Equity) — 0.08% expense ratio
State Street SPDR S&P 500 ETF (SPY) (Equity) — 0.09% expense ratio
State Street Financial Select Sector SPDR ETF (XLF) (Equity) — 0.08% expense ratio
State Street SPDR Dow Jones Industrial Average ETF Trust (DIA) (Equity) — 0.16% expense ratio
State Street SPDR S&P Biotech ETF (XBI) (Equity) — 0.35% expense ratio

Risk Metrics

Beta: 1.10

Questions & Answers

What is MDYV and what does it track?

The State Street SPDR S&P 400 Mid Cap Value ETF (MDYV) is an exchange-traded fund that aims to replicate the performance of the S&P MidCap 400 Value Index. This index focuses on mid-sized U.S. companies that exhibit strong value characteristics.

What is the expense ratio for MDYV?

The expense ratio for MDYV is 0.15%. This means that for every $10,000 invested in the fund, $15 is charged annually to cover operating expenses. While expense ratios can vary among ETFs, MDYV's 0.15% is relatively competitive.

When evaluating ETFs, it's important to consider the expense ratio as it directly impacts the overall return on investment. Lower expense ratios generally benefit investors by minimizing the cost of holding the fund.

What are the top holdings in MDYV?

As of 2026-03-15, the top holdings in MDYV include US Foods Holding Corp (1.30%), Reliance Inc (1.00%), and Alcoa Corp (0.97%). These holdings represent a portion of the fund's overall portfolio and reflect its value-oriented investment strategy.

The fund's top ten holdings collectively account for a significant percentage of its total assets, indicating a degree of concentration within the portfolio.

Is MDYV a good long-term investment?

Whether MDYV is a suitable long-term investment depends on an individual's investment goals, risk tolerance, and time horizon. MDYV offers exposure to mid-cap value stocks, which may provide diversification benefits and potential for long-term capital appreciation.

However, the fund's performance can be influenced by various factors, including market conditions, sector trends, and economic cycles.

How does MDYV compare to similar ETFs?

MDYV can be compared to other mid-cap value ETFs based on several factors, including expense ratio, assets under management (AUM), and investment strategy. MDYV has an expense ratio of 0.15% and AUM of $2.38B.

Some competing ETFs may have lower or higher expense ratios, which can impact long-term returns.

Does MDYV pay dividends?

As of 2026-03-15, MDYV has a dividend yield of 0.00%. This indicates that the fund is not currently distributing dividends to its shareholders.

While some ETFs focus on providing regular income through dividend payments, MDYV's primary objective is capital appreciation through investments in mid-cap value stocks. Investors seeking dividend income may want to consider other ETFs with a higher dividend yield.