IJH vs MDY: fees, holdings and returns
IJH and MDY both track the S&P MidCap 400, so they hold the same about 400 mid-size US companies. IJH charges a much lower yearly fee. MDY, from 1995, is one of the oldest ETFs. Over the same dates since May 2000, IJH returned about 9.6% a year and MDY returned about 9.4% a year.
Written by the Tactfolio research team. Fund facts checked October 17, 2026. Prices through October 20, 2026.
Key points
- IJH costs less: 0.05% a year against 0.23%.
- IJH started trading in May 2000. MDY started in May 1995.
- Worst drops since 2000: IJH −55.1%, MDY −55.3%.
- Daily correlation: 0.99 (1 means they always move together).
What is the difference between IJH and MDY?#
The holdings are the same, so cost and structure set them apart. MDY is a unit investment trust, an older setup that holds dividends as cash until it pays them out. IJH is a regular fund from iShares. Over long holds IJH’s lower fee adds up, all else equal.
| Fact | IJH | MDY |
|---|---|---|
| Full name | iShares Core S&P Mid-Cap ETF | State Street SPDR S&P MidCap 400 ETF Trust |
| Issuer | iShares (BlackRock) | SPDR (State Street) |
| Expense ratio | 0.05% a year | 0.23% a year |
| Started trading | May 22, 2000 | May 4, 1995 |
| Tracks | S&P MidCap 400 Index | S&P MidCap 400 Index |
| Holdings | 408 holdings as of October 15, 2026 | 400 holdings as of October 15, 2026 |
| Type | US stocks, ETF | US stocks, ETF |
Fund facts checked on the iShares (BlackRock) IJH page and the SPDR (State Street) MDY page.
Is IJH or MDY cheaper?#
IJH costs less: 0.05% a year against 0.23%. On $10,000, that is about $5 a year for IJH and $23 for MDY. The fund takes its fee out of its own value a little each day, so you never get a bill.
IJH vs MDY performance over the same dates#
Both funds are measured from May 2000 to October 2026, the dates both traded. IJH returned about 9.6% a year and MDY returned about 9.4% a year. IJH came out ahead over this period, which does not mean it will again.
| Measure | IJH | MDY |
|---|---|---|
| $10,000 grew to | $113,655 | $107,579 |
| Total return | 1,037% | 975.8% |
| Return per year (CAGR) | 9.6% | 9.4% |
| Worst drop from a high | −55.1% | −55.3% |
| Volatility (how much it swings) | 21.4% | 21.8% |
| Last 12 months | 13.4% | 13.1% |
| Last 3 years, per year | 16.8% | 16.5% |
| Last 5 years, per year | 7.2% | 6.9% |
| Last 10 years, per year | 10.8% | 10.5% |
Prices through October 20, 2026. Figures use daily closing prices adjusted for splits, with dividends reinvested. They do not include taxes or the cost of buying and selling. Past results do not tell you what will happen next.
IJH and MDY returns by year#
| Year | IJH | MDY |
|---|---|---|
| 2026 (part of the year) | 11.6% | 11.4% |
| 2025 | 7.4% | 7.2% |
| 2024 | 13.9% | 13.6% |
| 2023 | 16.4% | 16.1% |
| 2022 | −13.1% | −13.3% |
| 2021 | 24.7% | 24.2% |
| 2020 | 13.6% | 13.5% |
| 2019 | 26.1% | 25.8% |
| 2018 | −11.2% | −11.3% |
| 2017 | 16.3% | 15.9% |
| 2016 | 20.7% | 20.5% |
| 2015 | −2.3% | −2.5% |
| 2014 | 9.7% | 9.4% |
| 2013 | 33.5% | 33.1% |
| 2012 | 17.8% | 17.8% |
| 2011 | −2.2% | −2.1% |
| 2010 | 26.7% | 26.3% |
| 2009 | 37.8% | 37.6% |
| 2008 | −36.2% | −36.4% |
| 2007 | 7.3% | 7.2% |
| 2006 | 9.7% | 10.0% |
| 2005 | 12.9% | 12.5% |
| 2004 | 16.1% | 15.9% |
| 2003 | 35.2% | 35.3% |
| 2002 | −14.2% | −14.5% |
| 2001 | −1.3% | −0.9% |
| 2000 (part of the year) | 13.9% | 12.6% |
Which fell further in bad times?#
A drawdown is how far a fund falls from its last high point. IJH’s worst fall was −55.1%, from June 4, 2007 to March 9, 2009. It got back to that high on December 2, 2010.
MDY’s worst fall was −55.3%, from July 13, 2007 to March 9, 2009. It got back to that high on December 6, 2010.
Their daily moves had a correlation of 0.99. A correlation of 1 means two funds always move up and down together. Near 0 means they move on their own. So holding both adds little variety.
Why people choose IJH or MDY#
IJH. Long-term investors often pick IJH for its lower fee on the same index.
MDY. Traders who have long used MDY, and its options, sometimes keep it.
Strategies that hold IJH or MDY#
No classic strategy holds IJH or MDY yet.
Other funds like IJH and MDY#
Each fund has more funds that hold the same kind of investments, ranked by how closely they move with it: IJH alternatives and MDY alternatives.
Test a mix of IJH and MDY#
Open the builder, add IJH and MDY, and give each a weight, such as 50% and 50%. The backtest shows how the mix would have done, with its worst drop, on daily prices. You can also add a rule, for example to switch between them, and compare. Read the full pages for IJH and MDY, or see more ETF comparisons.
The details#
Both funds use Tactfolio’s stored daily prices, adjusted for splits, with dividends reinvested. They are compared only on days both traded, starting the later fund’s first day, so neither gets a head start. Correlation uses daily returns over the same days. Read what a backtest simulates for more on these measures.
Common questions#
Are IJH and MDY the same?#
They track the same index and hold the same companies. They differ in yearly fee and structure.
Why is MDY’s fee higher?#
MDY is one of the oldest ETFs and kept its trust structure and fee, while newer funds such as IJH cut fees to compete.
Which is cheaper, IJH or MDY?#
IJH costs less: 0.05% a year against 0.23%. Fees come from each issuer and were checked on October 17, 2026.
Which did better, IJH or MDY?#
From May 2000 to October 2026, IJH returned about 9.6% a year and MDY returned about 9.4% a year, with dividends reinvested. Their worst drops were −55.1% and −55.3%. Past returns do not tell you what comes next.