ONEO vs. ONEY

Last updated Jun 21, 2026

ONEO (SPDR Russell 1000 Momentum Focus ETF) and ONEY (SPDR Russell 1000 Yield Focus ETF) are both exchange-traded funds - ONEO is a Momentum fund tracking the Russell 1000 Momentum Focused Factor Index, while ONEY is a Mid Cap Value Equities fund tracking the Russell 1000 Yield Focused Factor Index. Both are passively managed. Over the past 10 years, ONEO returned 12.05%/yr vs 11.98%/yr for ONEY. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.

Performance

ONEO vs. ONEY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Russell 1000 Momentum Focus ETF (ONEO) and SPDR Russell 1000 Yield Focus ETF (ONEY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONEO achieves a 18.09% return, which is significantly higher than ONEY's 13.49% return. Both investments have delivered pretty close results over the past 10 years, with ONEO having a 12.05% annualized return and ONEY not far behind at 11.98%.

ONEO

• 1D: 0.87%
• 1M: 3.48%
• YTD: 18.09%
• 6M: 17.15%
• 1Y: 28.38%
• 3Y*: 18.04%
• 5Y*: 11.28%
• 10Y*: 12.05%

ONEY

• 1D: -0.10%
• 1M: 0.43%
• YTD: 13.49%
• 6M: 13.10%
• 1Y: 22.56%
• 3Y*: 13.93%
• 5Y*: 10.17%
• 10Y*: 11.98%

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

ONEO vs. ONEY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEO SPDR Russell 1000 Momentum Focus ETF	18.09%	10.61%	15.01%	15.64%	-12.01%	26.72%	10.76%	26.53%	-12.41%	21.16%
ONEY SPDR Russell 1000 Yield Focus ETF	13.49%	7.74%	11.63%	11.12%	-3.60%	37.11%	2.17%	27.45%	-8.71%	15.46%

Correlation

The correlation between ONEO and ONEY is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since Dec 3, 2015	0.82

The correlation between ONEO and ONEY has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.

ONEO vs. ONEY - Sectors Allocation Comparison

Sectors	ONEO	ONEY
Technology	25.6%	6.1%
Industrials	17.1%	13.6%
Consumer Cyclical	11.3%	12.5%
Healthcare	9.4%	4.2%
Financial Services	8.8%	9.9%
Energy	6.5%	12.2%
Utilities	5.4%	10.2%
Consumer Defensive	5.0%	12.0%
Basic Materials	4.7%	8.2%
Communication Services	3.5%	1.6%
Real Estate	2.8%	9.7%

Return for Risk

ONEO vs. ONEY — Risk / Return Rank

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

ONEO

ONEO Risk / Return Rank: 74
ONEO Sharpe Ratio Rank: 71
ONEO Sortino Ratio Rank: 72
ONEO Omega Ratio Rank: 67
ONEO Calmar Ratio Rank: 79
ONEO Martin Ratio Rank: 81

ONEY

ONEY Risk / Return Rank: 59
ONEY Sharpe Ratio Rank: 56
ONEY Sortino Ratio Rank: 60
ONEY Omega Ratio Rank: 54
ONEY Calmar Ratio Rank: 63
ONEY Martin Ratio Rank: 63

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.

ONEO vs. ONEY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 1000 Momentum Focus ETF (ONEO) and SPDR Russell 1000 Yield Focus ETF (ONEY). 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.

	ONEO	ONEY	Difference
Sharpe ratio: Return per unit of total volatility	2.16	1.83	+0.33
Sortino ratio: Return per unit of downside risk	3.06	2.73	+0.33
Omega ratio: Gain probability vs. loss probability	1.38	1.32	+0.05
Calmar ratio: Return relative to maximum drawdown	3.90	3.02	+0.88
Martin ratio: Return relative to average drawdown	15.28	10.82	+4.46

ONEO vs. ONEY - Sharpe Ratio Comparison

The current ONEO Sharpe Ratio is 2.16, which is comparable to the ONEY Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of ONEO and ONEY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ONEO vs. ONEY - Drawdown Comparison

The maximum ONEO drawdown since its inception was -40.86%, smaller than the maximum ONEY drawdown of -46.80%. Use the drawdown chart below to compare losses from any high point for ONEO and ONEY.

Drawdown Indicators

	ONEO	ONEY	Difference
Max Drawdown Largest peak-to-trough decline	-40.86%	-46.80%	+5.94%
Max Drawdown (1Y) Largest decline over 1 year	-7.37%	-7.61%	+0.24%
Max Drawdown (3Y) Largest decline over 3 years	-19.72%	-17.50%	-2.22%
Max Drawdown (5Y) Largest decline over 5 years	-22.39%	-18.93%	-3.46%
Max Drawdown (10Y) Largest decline over 10 years	-40.86%	-46.80%	+5.94%
Current Drawdown Current decline from peak	-0.77%	-2.75%	+1.98%
Average Drawdown Average peak-to-trough decline	-4.98%	-4.97%	-0.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	2.12%	-0.24%

Volatility

ONEO vs. ONEY - Volatility Comparison

SPDR Russell 1000 Momentum Focus ETF (ONEO) has a higher volatility of 4.90% compared to SPDR Russell 1000 Yield Focus ETF (ONEY) at 3.54%. This indicates that ONEO's price experiences larger fluctuations and is considered to be riskier than ONEY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEO	ONEY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.90%	3.54%	+1.36%
Volatility (6M) Calculated over the trailing 6-month period	10.36%	8.64%	+1.72%
Volatility (1Y) Calculated over the trailing 1-year period	13.32%	12.57%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.29%	16.10%	+1.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.70%	19.87%	-1.17%

ONEO vs. ONEY - Expense Ratio Comparison

Both ONEO and ONEY have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

ONEO vs. ONEY - Dividend Comparison

ONEO's dividend yield for the trailing twelve months is around 1.16%, less than ONEY's 2.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ONEO SPDR Russell 1000 Momentum Focus ETF	1.16%	1.29%	1.30%	1.56%	1.73%	1.19%	1.28%	1.64%	1.72%	7.69%	1.82%	0.17%
ONEY SPDR Russell 1000 Yield Focus ETF	2.83%	3.15%	3.18%	3.14%	3.17%	2.46%	2.74%	3.17%	3.72%	10.73%	6.31%	0.29%

Frequently Asked Questions

Can I hold both ONEO and ONEY in my portfolio?

ONEO and ONEY have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ONEO or ONEY?

ONEO has higher volatility (4.90%) compared to ONEY (3.54%). In terms of maximum drawdown, ONEO dropped -40.86% vs ONEY's -46.80%.

Which ETF is better, ONEO or ONEY?

On 10-year performance, ONEO leads with 12.05% vs 11.98% for ONEY. Both ETFs have the same 0.20% expense ratio. On volatility, ONEY has been the lower-risk option at 3.54%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONEO or ONEY?

Over the 10-year period, ONEO has performed better with a 12.05% return vs 11.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEO or ONEY?

ONEO and ONEY have the same expense ratio: 0.20% per year.

Which ETF pays a higher dividend yield, ONEO or ONEY?

ONEY has the higher dividend yield at 2.83%, compared with 1.16% for ONEO.

What is the main difference between ONEO and ONEY?

ONEO is categorized as Momentum, while ONEY is Mid Cap Value Equities. ONEO tracks Russell 1000 Momentum Focused Factor Index, while ONEY tracks Russell 1000 Yield Focused Factor Index.

Which has better risk-adjusted returns?

ONEO currently has the higher Sharpe Ratio (2.16 vs 1.83), 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.