EMTY vs. ONEV
EMTY (ProShares Decline of the Retail Store ETF) and ONEV (SPDR Russell 1000 Low Volatility Focus ETF) are both exchange-traded funds - EMTY is a Inverse Equities fund tracking the Solactive-ProShares Bricks and Mortar Retail Store Index (-100%), while ONEV is a Volatility Hedged Equity fund tracking the Russell 1000 Low Volatility Focused Factor (TR). Both are passively managed. Over the past 5 years, EMTY returned -3.31%/yr vs 9.11%/yr for ONEV. At a correlation of -0.73, they often move in opposite directions. EMTY charges 0.66%/yr vs 0.20%/yr for ONEV.
Performance
EMTY vs. ONEV - Performance Comparison
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Returns By Period
In the year-to-date period, EMTY achieves a -1.42% return, which is significantly lower than ONEV's 11.55% return.
EMTY
- 1D
- -2.53%
- 1M
- 0.43%
- 6M
- 6.62%
- YTD
- -1.42%
- 1Y
- 0.79%
- 3Y*
- -3.76%
- 5Y*
- -3.31%
- 10Y*
- —
ONEV
- 1D
- 2.02%
- 1M
- 2.81%
- 6M
- 6.44%
- YTD
- 11.55%
- 1Y
- 16.38%
- 3Y*
- 12.17%
- 5Y*
- 9.11%
- 10Y*
- 11.34%
EMTY vs. ONEV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | -1.42% | -1.76% | -4.13% | 0.27% | 4.32% | -37.39% | -31.92% | -8.65% | 11.16% | -15.97% |
ONEV SPDR Russell 1000 Low Volatility Focus ETF | 11.55% | 8.14% | 11.76% | 13.28% | -8.15% | 29.19% | 6.66% | 30.66% | -5.30% | 5.11% |
Correlation
The correlation between EMTY and ONEV is -0.71, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.77 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2017 | -0.73 |
The correlation between EMTY and ONEV has been stable across timeframes, ranging from -0.77 to -0.71 - a consistent structural relationship.
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Return for Risk
EMTY vs. ONEV — Risk / Return Rank
EMTY
ONEV
EMTY vs. ONEV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Decline of the Retail Store ETF (EMTY) and SPDR Russell 1000 Low Volatility Focus ETF (ONEV). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| EMTY | ONEV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.40 | ||
| Sortino ratioReturn per unit of downside risk | -2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.25 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.06 | 2.12 | -2.07 |
| Martin ratioReturn relative to average drawdown | 0.12 | 7.25 | -7.13 |
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Drawdowns
EMTY vs. ONEV - Drawdown Comparison
The maximum EMTY drawdown since its inception was -77.62%, which is greater than ONEV's maximum drawdown of -39.72%. Use the drawdown chart below to compare losses from any high point for EMTY and ONEV.
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Drawdown Indicators
| EMTY | ONEV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.62% | -39.72% | -37.90% |
Max Drawdown (1Y)Largest decline over 1 year | -13.91% | -7.75% | -6.16% |
Max Drawdown (3Y)Largest decline over 3 years | -30.83% | -14.81% | -16.02% |
Max Drawdown (5Y)Largest decline over 5 years | -30.83% | -18.52% | -12.31% |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.72% | — |
Current DrawdownCurrent decline from peak | -75.40% | 0.00% | -75.40% |
Average DrawdownAverage peak-to-trough decline | -54.54% | -3.87% | -50.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.48% | 2.26% | +4.22% |
Volatility
EMTY vs. ONEV - Volatility Comparison
ProShares Decline of the Retail Store ETF (EMTY) has a higher volatility of 6.25% compared to SPDR Russell 1000 Low Volatility Focus ETF (ONEV) at 3.88%. This indicates that EMTY's price experiences larger fluctuations and is considered to be riskier than ONEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| EMTY | ONEV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.25% | 3.88% | +2.37% |
Volatility (6M)Calculated over the trailing 6-month period | 13.24% | 8.22% | +5.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.14% | 11.41% | +6.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.42% | 14.57% | +7.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.60% | 17.00% | +8.60% |
EMTY vs. ONEV - Expense Ratio Comparison
EMTY has a 0.66% expense ratio, which is higher than ONEV's 0.20% expense ratio.
Dividends
EMTY vs. ONEV - Dividend Comparison
EMTY's dividend yield for the trailing twelve months is around 3.30%, more than ONEV's 1.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EMTY ProShares Decline of the Retail Store ETF | 3.30% | 3.83% | 6.00% | 4.41% | 0.65% | 0.00% | 0.07% | 0.82% | 0.62% | 0.03% | 0.00% | 0.00% |
ONEV SPDR Russell 1000 Low Volatility Focus ETF | 1.81% | 1.81% | 1.88% | 1.79% | 1.80% | 1.44% | 1.87% | 2.07% | 2.14% | 6.91% | 3.73% | 0.21% |
Frequently Asked Questions
EMTY and ONEV have a correlation of -0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EMTY has higher volatility (6.25%) compared to ONEV (3.88%). In terms of maximum drawdown, EMTY dropped -77.62% vs ONEV's -39.72%.
On 5-year performance, ONEV leads with 9.11% vs -3.31% for EMTY. On fees, ONEV is cheaper at 0.20% per year. On volatility, ONEV has been the lower-risk option at 3.88%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ONEV has performed better with a 9.11% return vs -3.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ONEV is cheaper with a 0.20% expense ratio, compared with 0.66% for EMTY.
EMTY has the higher dividend yield at 3.30%, compared with 1.81% for ONEV.
EMTY is categorized as Inverse Equities, while ONEV is Volatility Hedged Equity. EMTY tracks Solactive-ProShares Bricks and Mortar Retail Store Index (-100%), while ONEV tracks Russell 1000 Low Volatility Focused Factor (TR). They also come from different issuers: ProShares and State Street. Their fees differ too: 0.66% for EMTY and 0.20% for ONEV.
ONEV currently has the higher Sharpe Ratio (1.44 vs 0.04), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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