ONEO vs. ONEY

Last updated Aug 1, 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 11.76%/yr vs 12.04%/yr for ONEY. Their correlation of 0.81 means they have usually moved in the same direction. 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

The year-to-date returns for both stocks are quite close, with ONEO having a 19.27% return and ONEY slightly lower at 18.31%. Both investments have delivered pretty close results over the past 10 years, with ONEO having a 11.76% annualized return and ONEY not far ahead at 12.04%.

ONEO

• 1D: 0.00%
• 1M: 0.65%
• 6M: 14.51%
• YTD: 19.27%
• 1Y: 24.78%
• 3Y*: 16.54%
• 5Y*: 10.58%
• 10Y*: 11.76%
• ALL TIME*: 11.54%

ONEY

• 1D: -0.34%
• 1M: 2.86%
• 6M: 12.45%
• YTD: 18.31%
• 1Y: 24.23%
• 3Y*: 13.34%
• 5Y*: 10.27%
• 10Y*: 12.04%
• ALL TIME*: 12.29%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ONEO SPDR Russell 1000 Momentum Focus ETF	$103.19K	$75.01K	$61.74K
ONEY SPDR Russell 1000 Yield Focus ETF	$5.01M	$5.36M	$5.13M

ONEO vs. ONEY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEO SPDR Russell 1000 Momentum Focus ETF	19.27%	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	18.31%	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 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (3Y) Balances recent behavior with more history.	0.85
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (10Y) Provides a long-term view across more market conditions.	0.82
Correlation (All Time) Calculated using the full available price history since Dec 3, 2015	0.81

The correlation between ONEO and ONEY shifts across timeframes, from 0.78 (1 year) to 0.89 (5 years), reflecting how their relationship changes across market environments.

ONEO vs. ONEY - Sectors Allocation Comparison

Sectors	ONEO	ONEY
Industrials	19.0%	9.9%
Technology	16.9%	6.6%
Consumer Cyclical	11.9%	11.0%
Healthcare	11.5%	5.0%
Financial Services	10.5%	17.8%
Energy	6.3%	7.9%
Utilities	5.8%	10.6%
Consumer Defensive	5.6%	11.5%
Basic Materials	5.1%	4.5%
Real Estate	3.8%	11.3%
Communication Services	3.5%	3.4%

Return for Risk

ONEO vs. ONEY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ONEO

ONEO Risk / Return Rank: 84
ONEO Sharpe Ratio Rank: 81
ONEO Sortino Ratio Rank: 83
ONEO Omega Ratio Rank: 80
ONEO Calmar Ratio Rank: 87
ONEO Martin Ratio Rank: 88

ONEY

ONEY Risk / Return Rank: 84
ONEY Sharpe Ratio Rank: 84
ONEY Sortino Ratio Rank: 87
ONEY Omega Ratio Rank: 82
ONEY Calmar Ratio Rank: 84
ONEY Martin Ratio Rank: 85

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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	1.88	1.95	-0.08
Sortino ratio: Return per unit of downside risk	2.70	2.93	-0.23
Omega ratio: Gain probability vs. loss probability	1.33	1.35	-0.01
Calmar ratio: Return relative to maximum drawdown	3.38	3.20	+0.18
Martin ratio: Return relative to average drawdown	13.48	11.88	+1.59

ONEO vs. ONEY - Sharpe Ratio Comparison

The current ONEO Sharpe Ratio is 1.88, which is comparable to the ONEY Sharpe Ratio of 1.95. 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	-0.81%	-1.85%	+1.04%
Average Drawdown Average peak-to-trough decline	-4.93%	-4.93%	0.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.84%	2.05%	-0.21%

Volatility

ONEO vs. ONEY - Volatility Comparison

The current volatility for SPDR Russell 1000 Momentum Focus ETF (ONEO) is 2.46%, while SPDR Russell 1000 Yield Focus ETF (ONEY) has a volatility of 4.41%. This indicates that ONEO experiences smaller price fluctuations and is considered to be less risky 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	2.46%	4.41%	-1.95%
Volatility (6M) Calculated over the trailing 6-month period	10.16%	8.87%	+1.29%
Volatility (1Y) Calculated over the trailing 1-year period	13.27%	12.47%	+0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.18%	16.06%	+1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.61%	19.81%	-1.20%

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 1.18%, less than ONEY's 2.77% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ONEO SPDR Russell 1000 Momentum Focus ETF	1.18%	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	2.77%	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 0.78, 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?

ONEY has higher volatility (4.41%) compared to ONEO (2.46%). 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, ONEY leads with 12.04% vs 11.76% for ONEO. Both ETFs have the same 0.20% expense ratio. On volatility, ONEO has been the lower-risk option at 2.46%. 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, ONEY has performed better with a 12.04% return vs 11.76%. 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 2.77%, compared with 1.18% 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?

ONEY currently has the higher Sharpe Ratio (1.95 vs 1.88), 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.