FUND vs MDY: Correlation
Sprott Focus Trust, Inc. - Closed End Fund (FUND) and SPDR S&P MidCap 400 ETF (MDY) show a strong relationship: their 3-year correlation of weekly returns is 0.79.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FUND and MDY?
Over the past 3 years, FUND and MDY moved with a correlation of 0.79, which is strong. The past 12 months show a weaker link (0.58) than the 3-year average (0.79). Over 5 years the correlation is 0.83, and the annualized covariance of weekly returns is 231.5 %².
In FUND's tracked universe of 32 assets, MDY sits right near the top at #1. Correlation aside, the last 12 months split them widely, with FUND ahead by 20.8 points (+39.1% versus +18.3%).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
FUND vs MDY: side by side
| FUND (Sprott Focus Trust, Inc. - Closed End Fund) | MDY (SPDR S&P MidCap 400 ETF) | |
|---|---|---|
| 1-year return | +39.1% | +18.3% |
| 5-year return | +83.0% | +47.5% |
| Volatility (ann.) | 17.9% | 16.5% |
| Beta vs S&P 500 | 0.77 | 0.91 |
| Max drawdown (3Y) | -18.2% | -24.0% |
| Market cap | $0.3B | – |
| P/E (trailing) | 5.8 | – |
| Dividend yield | 5.36% | 1.02% |
| Expense ratio | – | 0.23% |
| Assets under management | – | $26.5B |
| Sector / category | US Listed | ETF · US Small & Mid Cap |
MDY, State Street Investment Management's Mid-Cap Blend fund, carries $26.5B under management, 400 holdings, a 0.23% expense ratio, a 1.02% trailing dividend yield.
Year-by-year returns
| Year | FUND | MDY |
|---|---|---|
| 2022 | -1.2% | -13.3% |
| 2023 | +6.9% | +16.1% |
| 2024 | -1.0% | +13.6% |
| 2025 | +27.5% | +7.2% |
| 2026 | +26.8% | +16.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FUND and MDY good diversifiers for each other?
Only partially. A correlation of 0.79 means FUND and MDY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between FUND and MDY?
Using weekly returns as of 2026-08-27: 0.79 over 3 years, with 0.58 over the last year and 0.83 over 5 years.
Is MDY a good diversifier for FUND?
Only partially. A correlation of 0.79 means FUND and MDY share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.79 mean?
A reading of 0.79 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fund-vs-mdy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fund-vs-mdy/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FUND correlations · MDY correlations
