ONEO vs. USVM

Last updated Jul 15, 2026

ONEO (SPDR Russell 1000 Momentum Focus ETF) and USVM (VictoryShares US Small Mid Cap Value Momentum ETF) are both Momentum funds - ONEO tracks the Russell 1000 Momentum Focused Factor Index while USVM tracks the Nasdaq Victory US Small Mid Cap Value Momentum Index. Both are passively managed. Over the past 5 years, ONEO returned 10.90%/yr vs 11.48%/yr for USVM. Their correlation of 0.92 suggests significant overlap in exposure. ONEO charges 0.20%/yr vs 0.29%/yr for USVM.

Performance

ONEO vs. USVM - Performance Comparison

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

Returns By Period

In the year-to-date period, ONEO achieves a 18.39% return, which is significantly lower than USVM's 20.35% return.

ONEO

• 1D: -0.02%
• 1M: 0.27%
• 6M: 13.71%
• YTD: 18.39%
• 1Y: 23.45%
• 3Y*: 16.81%
• 5Y*: 10.90%
• 10Y*: 11.59%

USVM

• 1D: 0.17%
• 1M: 1.10%
• 6M: 15.01%
• YTD: 20.35%
• 1Y: 30.27%
• 3Y*: 19.25%
• 5Y*: 11.48%
• 10Y*: —

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

ONEO vs. USVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEO SPDR Russell 1000 Momentum Focus ETF	18.39%	10.61%	15.01%	15.64%	-12.01%	26.72%	10.76%	26.53%	-12.41%	5.28%
USVM VictoryShares US Small Mid Cap Value Momentum ETF	20.35%	10.56%	16.59%	18.90%	-13.23%	24.44%	11.56%	21.65%	-9.39%	2.06%

Correlation

The correlation between ONEO and USVM is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Oct 26, 2017	0.92

The correlation between ONEO and USVM has been stable across timeframes, ranging from 0.89 to 0.94 - a consistent structural relationship.

ONEO vs. USVM - Sectors Allocation Comparison

Sectors	ONEO	USVM
Technology	25.6%	8.7%
Industrials	17.1%	10.6%
Consumer Cyclical	11.3%	12.3%
Healthcare	9.4%	12.8%
Financial Services	8.8%	25.1%
Energy	6.5%	5.1%
Utilities	5.4%	7.4%
Consumer Defensive	5.0%	3.7%
Basic Materials	4.7%	1.7%
Communication Services	3.5%	3.0%
Real Estate	2.8%	9.6%

Return for Risk

ONEO vs. USVM — Risk / Return Rank

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

ONEO

ONEO Risk / Return Rank: 73
ONEO Sharpe Ratio Rank: 68
ONEO Sortino Ratio Rank: 71
ONEO Omega Ratio Rank: 65
ONEO Calmar Ratio Rank: 77
ONEO Martin Ratio Rank: 82

USVM

USVM Risk / Return Rank: 83
USVM Sharpe Ratio Rank: 82
USVM Sortino Ratio Rank: 85
USVM Omega Ratio Rank: 78
USVM Calmar Ratio Rank: 84
USVM Martin Ratio Rank: 86

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. USVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 1000 Momentum Focus ETF (ONEO) and VictoryShares US Small Mid Cap Value Momentum ETF (USVM). 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	USVM	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.06	-0.29
Sortino ratio: Return per unit of downside risk	2.56	3.01	-0.46
Omega ratio: Gain probability vs. loss probability	1.31	1.36	-0.05
Calmar ratio: Return relative to maximum drawdown	3.19	3.64	-0.44
Martin ratio: Return relative to average drawdown	12.54	13.77	-1.23

ONEO vs. USVM - Sharpe Ratio Comparison

The current ONEO Sharpe Ratio is 1.77, which is comparable to the USVM Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of ONEO and USVM, 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. USVM - Drawdown Comparison

The maximum ONEO drawdown since its inception was -40.86%, roughly equal to the maximum USVM drawdown of -42.38%. Use the drawdown chart below to compare losses from any high point for ONEO and USVM.

Drawdown Indicators

	ONEO	USVM	Difference
Max Drawdown Largest peak-to-trough decline	-40.86%	-42.38%	+1.52%
Max Drawdown (1Y) Largest decline over 1 year	-7.37%	-8.36%	+0.99%
Max Drawdown (3Y) Largest decline over 3 years	-19.72%	-24.34%	+4.62%
Max Drawdown (5Y) Largest decline over 5 years	-22.39%	-25.27%	+2.88%
Max Drawdown (10Y) Largest decline over 10 years	-40.86%	—	—
Current Drawdown Current decline from peak	-0.66%	-0.75%	+0.09%
Average Drawdown Average peak-to-trough decline	-4.95%	-7.81%	+2.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	2.21%	-0.33%

Volatility

ONEO vs. USVM - Volatility Comparison

SPDR Russell 1000 Momentum Focus ETF (ONEO) has a higher volatility of 3.20% compared to VictoryShares US Small Mid Cap Value Momentum ETF (USVM) at 2.92%. This indicates that ONEO's price experiences larger fluctuations and is considered to be riskier than USVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEO	USVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.20%	2.92%	+0.28%
Volatility (6M) Calculated over the trailing 6-month period	10.25%	10.85%	-0.60%
Volatility (1Y) Calculated over the trailing 1-year period	13.33%	14.80%	-1.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.25%	19.56%	-2.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.61%	21.91%	-3.30%

ONEO vs. USVM - Expense Ratio Comparison

ONEO has a 0.20% expense ratio, which is lower than USVM's 0.29% expense ratio.

Dividends

ONEO vs. USVM - Dividend Comparison

ONEO's dividend yield for the trailing twelve months is around 1.19%, less than USVM's 1.83% 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%
USVM VictoryShares US Small Mid Cap Value Momentum ETF	1.83%	1.84%	1.75%	1.63%	1.43%	0.70%	1.21%	1.77%	1.43%	0.65%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ONEO and USVM in my portfolio?

ONEO and USVM have a correlation of 0.89, 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 USVM?

ONEO has higher volatility (3.20%) compared to USVM (2.92%). In terms of maximum drawdown, ONEO dropped -40.86% vs USVM's -42.38%.

Which ETF is better, ONEO or USVM?

On 5-year performance, USVM leads with 11.48% vs 10.90% for ONEO. On fees, ONEO is cheaper at 0.20% per year. On volatility, USVM has been the lower-risk option at 2.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONEO or USVM?

Over the 5-year period, USVM has performed better with a 11.48% return vs 10.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEO or USVM?

ONEO is cheaper with a 0.20% expense ratio, compared with 0.29% for USVM.

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

USVM has the higher dividend yield at 1.83%, compared with 1.19% for ONEO.

What is the main difference between ONEO and USVM?

ONEO tracks Russell 1000 Momentum Focused Factor Index, while USVM tracks Nasdaq Victory US Small Mid Cap Value Momentum Index. They also come from different issuers: State Street and Victory Capital. Their fees differ too: 0.20% for ONEO and 0.29% for USVM.

Which has better risk-adjusted returns?

USVM currently has the higher Sharpe Ratio (2.06 vs 1.77), 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.