ONEH vs. SPYA

Last updated Jul 12, 2026

ONEH (TrueShares Equity Hedge ETF) and SPYA (Twin Oak Endure ETF) are both Equity Hedged funds. Both are actively managed. At a 0.16 correlation, their price movements are largely independent. ONEH charges 0.79%/yr vs 0.49%/yr for SPYA.

Performance

ONEH vs. SPYA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Equity Hedge ETF (ONEH) and Twin Oak Endure ETF (SPYA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ONEH

• 1D: -0.57%
• 1M: -1.15%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPYA

• 1D: 0.48%
• 1M: 2.31%
• 6M: 6.67%
• YTD: 8.12%
• 1Y: 16.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ONEH vs. SPYA - Yearly Performance Comparison

	2026 (YTD)
ONEH TrueShares Equity Hedge ETF	-2.12%
SPYA Twin Oak Endure ETF	6.81%

Correlation

The correlation between ONEH and SPYA is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 29, 2026	0.16

Return for Risk

ONEH vs. SPYA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ONEH

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

SPYA

SPYA Risk / Return Rank: 47
SPYA Sharpe Ratio Rank: 50
SPYA Sortino Ratio Rank: 48
SPYA Omega Ratio Rank: 47
SPYA Calmar Ratio Rank: 42
SPYA Martin Ratio Rank: 49

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ONEH vs. SPYA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Equity Hedge ETF (ONEH) and Twin Oak Endure ETF (SPYA). 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.

	ONEH	SPYA	Difference
Sharpe ratio: Return per unit of total volatility	—	1.37	—
Sortino ratio: Return per unit of downside risk	—	1.93	—
Omega ratio: Gain probability vs. loss probability	—	1.24	—
Calmar ratio: Return relative to maximum drawdown	—	1.71	—
Martin ratio: Return relative to average drawdown	—	6.45	—

Drawdowns

ONEH vs. SPYA - Drawdown Comparison

The maximum ONEH drawdown since its inception was -3.55%, smaller than the maximum SPYA drawdown of -9.51%. Use the drawdown chart below to compare losses from any high point for ONEH and SPYA.

Drawdown Indicators

	ONEH	SPYA	Difference
Max Drawdown Largest peak-to-trough decline	-3.55%	-9.51%	+5.96%
Max Drawdown (1Y) Largest decline over 1 year	—	-9.51%	—
Current Drawdown Current decline from peak	-2.12%	-0.59%	-1.53%
Average Drawdown Average peak-to-trough decline	-1.50%	-1.50%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.52%	—

Volatility

Volatility by Period

	ONEH	SPYA	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.94%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.31%	—
Volatility (1Y) Calculated over the trailing 1-year period	5.15%	11.88%	-6.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.15%	11.52%	-6.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.15%	11.52%	-6.37%

ONEH vs. SPYA - Expense Ratio Comparison

ONEH has a 0.79% expense ratio, which is higher than SPYA's 0.49% expense ratio.

Dividends

ONEH vs. SPYA - Dividend Comparison

ONEH has not paid dividends to shareholders, while SPYA's dividend yield for the trailing twelve months is around 0.35%.

Position	TTM	2025
ONEH TrueShares Equity Hedge ETF	0.00%	0.00%
SPYA Twin Oak Endure ETF	0.35%	0.37%

Frequently Asked Questions

Can I hold both ONEH and SPYA in my portfolio?

ONEH and SPYA have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ONEH or SPYA?

On fees, SPYA is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ONEH or SPYA?

SPYA is cheaper with a 0.49% expense ratio, compared with 0.79% for ONEH.

Which ETF pays a higher dividend yield, ONEH or SPYA?

SPYA has the higher dividend yield at 0.35%, compared with 0.00% for ONEH.

What is the main difference between ONEH and SPYA?

They also come from different issuers: TrueShares and Twin Oak. Their fees differ too: 0.79% for ONEH and 0.49% for SPYA.