ONEO vs. SPYG

Last updated Jun 5, 2026

ONEO (SPDR Russell 1000 Momentum Focus ETF) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both exchange-traded funds - ONEO is a Momentum fund tracking the Russell 1000 Momentum Focused Factor Index, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. Both are passively managed. Over the past 10 years, ONEO returned 11.86%/yr vs 18.16%/yr for SPYG. A 0.74 correlation means they provide meaningful diversification when combined. ONEO charges 0.20%/yr vs 0.04%/yr for SPYG.

Performance

ONEO vs. SPYG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Russell 1000 Momentum Focus ETF (ONEO) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONEO achieves a 17.96% return, which is significantly higher than SPYG's 13.73% return. Over the past 10 years, ONEO has underperformed SPYG with an annualized return of 11.86%, while SPYG has yielded a comparatively higher 18.16% annualized return.

ONEO

• 1D: 0.09%
• 1M: 5.26%
• YTD: 17.96%
• 6M: 18.18%
• 1Y: 28.01%
• 3Y*: 19.64%
• 5Y*: 10.52%
• 10Y*: 11.86%

SPYG

• 1D: -0.02%
• 1M: 6.54%
• YTD: 13.73%
• 6M: 13.08%
• 1Y: 33.66%
• 3Y*: 28.20%
• 5Y*: 16.07%
• 10Y*: 18.16%

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

ONEO vs. SPYG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEO SPDR Russell 1000 Momentum Focus ETF	17.96%	10.61%	15.01%	15.64%	-12.01%	26.72%	10.76%	26.53%	-12.41%	21.16%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	13.73%	22.09%	35.99%	30.02%	-29.41%	32.01%	33.46%	30.84%	-0.12%	27.24%

Correlation

The correlation between ONEO and SPYG is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Dec 4, 2015	0.74

The correlation between ONEO and SPYG shifts across timeframes, from 0.60 (1 year) to 0.75 (10 years), reflecting how their relationship changes across market environments.

ONEO vs. SPYG - Sectors Allocation Comparison

Sectors	ONEO	SPYG
Technology	21.9%	51.9%
Industrials	18.0%	5.0%
Consumer Cyclical	11.6%	8.9%
Healthcare	9.5%	5.8%
Financial Services	9.4%	8.5%
Energy	7.3%	0.1%
Utilities	5.8%	1.2%
Consumer Defensive	5.4%	1.0%
Basic Materials	4.7%	0.3%
Communication Services	3.6%	16.8%
Real Estate	2.9%	0.6%

Return for Risk

ONEO vs. SPYG — Risk / Return Rank

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

ONEO

ONEO Risk / Return Rank: 72
ONEO Sharpe Ratio Rank: 68
ONEO Sortino Ratio Rank: 70
ONEO Omega Ratio Rank: 65
ONEO Calmar Ratio Rank: 77
ONEO Martin Ratio Rank: 79

SPYG

SPYG Risk / Return Rank: 60
SPYG Sharpe Ratio Rank: 65
SPYG Sortino Ratio Rank: 63
SPYG Omega Ratio Rank: 61
SPYG Calmar Ratio Rank: 51
SPYG Martin Ratio Rank: 58

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. SPYG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 1000 Momentum Focus ETF (ONEO) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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.

	ONEO	SPYG	Difference
Sharpe ratio: Return per unit of total volatility	2.20	2.11	+0.09
Sortino ratio: Return per unit of downside risk	3.14	2.88	+0.26
Omega ratio: Gain probability vs. loss probability	1.39	1.37	+0.02
Calmar ratio: Return relative to maximum drawdown	3.82	2.46	+1.36
Martin ratio: Return relative to average drawdown	15.14	10.17	+4.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ONEO vs. SPYG - Sharpe Ratio Comparison

The current ONEO Sharpe Ratio is 2.20, which is comparable to the SPYG Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of ONEO and SPYG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ONEO	SPYG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	2.11	+0.09
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.76	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.88	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.35	+0.27

Drawdowns

ONEO vs. SPYG - Drawdown Comparison

The maximum ONEO drawdown since its inception was -40.86%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for ONEO and SPYG.

Drawdown Indicators

	ONEO	SPYG	Difference
Max Drawdown Largest peak-to-trough decline	-40.86%	-67.63%	+26.77%
Max Drawdown (1Y) Largest decline over 1 year	-7.37%	-13.76%	+6.39%
Max Drawdown (3Y) Largest decline over 3 years	-19.72%	-22.14%	+2.42%
Max Drawdown (5Y) Largest decline over 5 years	-22.39%	-32.67%	+10.28%
Max Drawdown (10Y) Largest decline over 10 years	-40.86%	-32.67%	-8.19%
Current Drawdown Current decline from peak	0.00%	-1.15%	+1.15%
Average Drawdown Average peak-to-trough decline	-4.99%	-24.32%	+19.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	3.32%	-1.46%

Volatility

ONEO vs. SPYG - Volatility Comparison

The current volatility for SPDR Russell 1000 Momentum Focus ETF (ONEO) is 3.67%, while State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a volatility of 4.34%. This indicates that ONEO experiences smaller price fluctuations and is considered to be less risky than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEO	SPYG	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	4.34%	-0.67%
Volatility (6M) Calculated over the trailing 6-month period	9.66%	12.46%	-2.80%
Volatility (1Y) Calculated over the trailing 1-year period	12.81%	16.06%	-3.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.21%	21.16%	-3.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.66%	20.64%	-1.98%

ONEO vs. SPYG - Expense Ratio Comparison

ONEO has a 0.20% expense ratio, which is higher than SPYG's 0.04% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ONEO vs. SPYG - Dividend Comparison

ONEO's dividend yield for the trailing twelve months is around 1.16%, more than SPYG's 0.47% 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%
SPYG State Street SPDR Portfolio S&P 500 Growth ETF	0.47%	0.52%	0.60%	1.15%	1.03%	0.62%	0.90%	1.37%	1.51%	1.41%	1.55%	1.57%

Frequently Asked Questions

Can I hold both ONEO and SPYG in my portfolio?

ONEO and SPYG have a correlation of 0.60, 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 SPYG?

SPYG has higher volatility (4.34%) compared to ONEO (3.67%). In terms of maximum drawdown, ONEO dropped -40.86% vs SPYG's -67.63%.

Which ETF is better, ONEO or SPYG?

On 10-year performance, SPYG leads with 18.16% vs 11.86% for ONEO. On fees, SPYG is cheaper at 0.04% per year. On volatility, ONEO has been the lower-risk option at 3.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONEO or SPYG?

Over the 10-year period, SPYG has performed better with a 18.16% return vs 11.86%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEO or SPYG?

SPYG is cheaper with a 0.04% expense ratio, compared with 0.20% for ONEO.

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

ONEO has the higher dividend yield at 1.16%, compared with 0.47% for SPYG.

What is the main difference between ONEO and SPYG?

ONEO is categorized as Momentum, while SPYG is S&P 500. ONEO tracks Russell 1000 Momentum Focused Factor Index, while SPYG tracks S&P 500 Growth Index. Their fees differ too: 0.20% for ONEO and 0.04% for SPYG.

Which has better risk-adjusted returns?

ONEO currently has the higher Sharpe Ratio (2.20 vs 2.11), 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.