ONEO vs. SPYM

Last updated Jun 25, 2026

ONEO (SPDR Russell 1000 Momentum Focus ETF) and SPYM (State Street SPDR Portfolio S&P 500 ETF) are both exchange-traded funds - ONEO is a Momentum fund tracking the Russell 1000 Momentum Focused Factor Index, while SPYM is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, ONEO returned 12.20%/yr vs 15.60%/yr for SPYM. Their correlation of 0.85 suggests significant overlap in exposure. ONEO charges 0.20%/yr vs 0.02%/yr for SPYM.

Performance

ONEO vs. SPYM - 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 ETF (SPYM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONEO achieves a 17.68% return, which is significantly higher than SPYM's 8.09% return. Over the past 10 years, ONEO has underperformed SPYM with an annualized return of 12.20%, while SPYM has yielded a comparatively higher 15.60% annualized return.

ONEO

• 1D: 0.28%
• 1M: 3.11%
• YTD: 17.68%
• 6M: 15.75%
• 1Y: 25.56%
• 3Y*: 18.68%
• 5Y*: 10.49%
• 10Y*: 12.20%

SPYM

• 1D: -0.10%
• 1M: -1.43%
• YTD: 8.09%
• 6M: 6.76%
• 1Y: 22.22%
• 3Y*: 20.73%
• 5Y*: 13.03%
• 10Y*: 15.60%

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

ONEO vs. SPYM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEO SPDR Russell 1000 Momentum Focus ETF	17.68%	10.61%	15.01%	15.64%	-12.01%	26.72%	10.76%	26.53%	-12.41%	21.16%
SPYM State Street SPDR Portfolio S&P 500 ETF	8.09%	17.79%	25.00%	26.24%	-18.09%	28.78%	18.49%	31.99%	-4.78%	21.30%

Correlation

The correlation between ONEO and SPYM is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Dec 3, 2015	0.85

The correlation between ONEO and SPYM has been stable across timeframes, ranging from 0.78 to 0.87 - a consistent structural relationship.

ONEO vs. SPYM - Sectors Allocation Comparison

Sectors	ONEO	SPYM
Technology	25.6%	38.0%
Industrials	17.1%	8.0%
Consumer Cyclical	11.3%	9.4%
Healthcare	9.4%	8.5%
Financial Services	8.8%	11.9%
Energy	6.5%	3.1%
Utilities	5.4%	2.6%
Consumer Defensive	5.0%	4.6%
Basic Materials	4.7%	1.8%
Communication Services	3.5%	10.1%
Real Estate	2.8%	1.8%

Return for Risk

ONEO vs. SPYM — Risk / Return Rank

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

ONEO

ONEO Risk / Return Rank: 71
ONEO Sharpe Ratio Rank: 67
ONEO Sortino Ratio Rank: 68
ONEO Omega Ratio Rank: 63
ONEO Calmar Ratio Rank: 76
ONEO Martin Ratio Rank: 79

SPYM

SPYM Risk / Return Rank: 60
SPYM Sharpe Ratio Rank: 59
SPYM Sortino Ratio Rank: 58
SPYM Omega Ratio Rank: 59
SPYM Calmar Ratio Rank: 57
SPYM Martin Ratio Rank: 68

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. SPYM - 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 ETF (SPYM). 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	SPYM	Difference
Sharpe ratio: Return per unit of total volatility	1.92	1.80	+0.12
Sortino ratio: Return per unit of downside risk	2.75	2.46	+0.29
Omega ratio: Gain probability vs. loss probability	1.34	1.33	+0.01
Calmar ratio: Return relative to maximum drawdown	3.48	2.51	+0.98
Martin ratio: Return relative to average drawdown	13.64	11.16	+2.49

ONEO vs. SPYM - Sharpe Ratio Comparison

The current ONEO Sharpe Ratio is 1.92, which is comparable to the SPYM Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of ONEO and SPYM, 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. SPYM - Drawdown Comparison

The maximum ONEO drawdown since its inception was -40.86%, smaller than the maximum SPYM drawdown of -54.46%. Use the drawdown chart below to compare losses from any high point for ONEO and SPYM.

Drawdown Indicators

	ONEO	SPYM	Difference
Max Drawdown Largest peak-to-trough decline	-40.86%	-54.46%	+13.60%
Max Drawdown (1Y) Largest decline over 1 year	-7.37%	-8.90%	+1.53%
Max Drawdown (3Y) Largest decline over 3 years	-19.72%	-18.72%	-1.00%
Max Drawdown (5Y) Largest decline over 5 years	-22.39%	-24.48%	+2.09%
Max Drawdown (10Y) Largest decline over 10 years	-40.86%	-33.87%	-6.99%
Current Drawdown Current decline from peak	-1.12%	-3.25%	+2.13%
Average Drawdown Average peak-to-trough decline	-4.97%	-7.14%	+2.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	2.00%	-0.12%

Volatility

ONEO vs. SPYM - Volatility Comparison

SPDR Russell 1000 Momentum Focus ETF (ONEO) and State Street SPDR Portfolio S&P 500 ETF (SPYM) have volatilities of 4.87% and 4.81%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEO	SPYM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.87%	4.81%	+0.06%
Volatility (6M) Calculated over the trailing 6-month period	10.44%	9.80%	+0.64%
Volatility (1Y) Calculated over the trailing 1-year period	13.36%	12.43%	+0.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.29%	16.90%	+0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.69%	18.03%	+0.66%

ONEO vs. SPYM - Expense Ratio Comparison

ONEO has a 0.20% expense ratio, which is higher than SPYM's 0.02% 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. SPYM - Dividend Comparison

ONEO's dividend yield for the trailing twelve months is around 1.19%, less than SPYM's 1.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ONEO SPDR Russell 1000 Momentum Focus ETF	1.19%	1.29%	1.30%	1.56%	1.73%	1.19%	1.28%	1.64%	1.72%	7.69%	1.82%	0.17%
SPYM State Street SPDR Portfolio S&P 500 ETF	1.30%	1.13%	1.28%	1.44%	1.69%	1.25%	1.54%	1.79%	2.23%	1.75%	1.97%	1.98%

Frequently Asked Questions

Can I hold both ONEO and SPYM in my portfolio?

ONEO and SPYM 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 SPYM?

ONEO has higher volatility (4.87%) compared to SPYM (4.81%). In terms of maximum drawdown, ONEO dropped -40.86% vs SPYM's -54.46%.

Which ETF is better, ONEO or SPYM?

On 10-year performance, SPYM leads with 15.60% vs 12.20% for ONEO. On fees, SPYM is cheaper at 0.02% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONEO or SPYM?

Over the 10-year period, SPYM has performed better with a 15.60% return vs 12.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEO or SPYM?

SPYM is cheaper with a 0.02% expense ratio, compared with 0.20% for ONEO.

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

SPYM has the higher dividend yield at 1.30%, compared with 1.19% for ONEO.

What is the main difference between ONEO and SPYM?

ONEO is categorized as Momentum, while SPYM is S&P 500. ONEO tracks Russell 1000 Momentum Focused Factor Index, while SPYM tracks S&P 500 Index. Their fees differ too: 0.20% for ONEO and 0.02% for SPYM.

Which has better risk-adjusted returns?

ONEO currently has the higher Sharpe Ratio (1.92 vs 1.80), 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.