ONEO vs. VFMO

Last updated Jun 5, 2026

ONEO (SPDR Russell 1000 Momentum Focus ETF) and VFMO (Vanguard U.S. Momentum Factor ETF) are both Momentum funds. ONEO is passively managed, while VFMO is actively managed. Over the past 5 years, ONEO returned 10.52%/yr vs 14.03%/yr for VFMO. Their correlation of 0.88 suggests significant overlap in exposure. ONEO charges 0.20%/yr vs 0.13%/yr for VFMO.

Performance

ONEO vs. VFMO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Russell 1000 Momentum Focus ETF (ONEO) and Vanguard U.S. Momentum Factor ETF (VFMO). 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 lower than VFMO's 24.71% 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%

VFMO

• 1D: 0.84%
• 1M: 4.64%
• YTD: 24.71%
• 6M: 22.49%
• 1Y: 44.76%
• 3Y*: 28.43%
• 5Y*: 14.03%
• 10Y*: —

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

ONEO vs. VFMO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
ONEO SPDR Russell 1000 Momentum Focus ETF	17.96%	10.61%	15.01%	15.64%	-12.01%	26.72%	10.76%	26.53%	-13.33%
VFMO Vanguard U.S. Momentum Factor ETF	24.71%	17.39%	26.14%	16.25%	-12.84%	19.16%	31.36%	28.22%	-11.41%

Correlation

The correlation between ONEO and VFMO is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since Feb 16, 2018	0.88

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

ONEO vs. VFMO - Sectors Allocation Comparison

Sectors	ONEO	VFMO
Technology	21.9%	17.5%
Industrials	18.0%	24.7%
Consumer Cyclical	11.6%	8.7%
Healthcare	9.5%	22.9%
Financial Services	9.4%	6.5%
Energy	7.3%	7.3%
Utilities	5.8%	0.2%
Consumer Defensive	5.4%	2.5%
Basic Materials	4.7%	6.4%
Communication Services	3.6%	3.4%
Real Estate	2.9%	0.1%

Return for Risk

ONEO vs. VFMO — 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

VFMO

VFMO Risk / Return Rank: 69
VFMO Sharpe Ratio Rank: 65
VFMO Sortino Ratio Rank: 60
VFMO Omega Ratio Rank: 60
VFMO Calmar Ratio Rank: 80
VFMO Martin Ratio Rank: 80

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. VFMO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 1000 Momentum Focus ETF (ONEO) and Vanguard U.S. Momentum Factor ETF (VFMO). 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	VFMO	Difference
Sharpe ratio: Return per unit of total volatility	2.20	2.12	+0.08
Sortino ratio: Return per unit of downside risk	3.14	2.77	+0.37
Omega ratio: Gain probability vs. loss probability	1.39	1.36	+0.03
Calmar ratio: Return relative to maximum drawdown	3.82	4.09	-0.28
Martin ratio: Return relative to average drawdown	15.14	15.46	-0.33
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. VFMO - Sharpe Ratio Comparison

The current ONEO Sharpe Ratio is 2.20, which is comparable to the VFMO Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of ONEO and VFMO, 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	VFMO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	2.12	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.65	-0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.66	-0.04

Drawdowns

ONEO vs. VFMO - Drawdown Comparison

The maximum ONEO drawdown since its inception was -40.86%, which is greater than VFMO's maximum drawdown of -36.77%. Use the drawdown chart below to compare losses from any high point for ONEO and VFMO.

Drawdown Indicators

	ONEO	VFMO	Difference
Max Drawdown Largest peak-to-trough decline	-40.86%	-36.77%	-4.09%
Max Drawdown (1Y) Largest decline over 1 year	-7.37%	-10.98%	+3.61%
Max Drawdown (3Y) Largest decline over 3 years	-19.72%	-24.40%	+4.68%
Max Drawdown (5Y) Largest decline over 5 years	-22.39%	-25.80%	+3.41%
Max Drawdown (10Y) Largest decline over 10 years	-40.86%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-4.99%	-7.76%	+2.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	2.90%	-1.04%

Volatility

ONEO vs. VFMO - Volatility Comparison

The current volatility for SPDR Russell 1000 Momentum Focus ETF (ONEO) is 3.67%, while Vanguard U.S. Momentum Factor ETF (VFMO) has a volatility of 6.05%. This indicates that ONEO experiences smaller price fluctuations and is considered to be less risky than VFMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEO	VFMO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	6.05%	-2.38%
Volatility (6M) Calculated over the trailing 6-month period	9.66%	16.38%	-6.72%
Volatility (1Y) Calculated over the trailing 1-year period	12.81%	21.21%	-8.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.21%	21.70%	-4.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.66%	23.56%	-4.90%

ONEO vs. VFMO - Expense Ratio Comparison

ONEO has a 0.20% expense ratio, which is higher than VFMO's 0.13% 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. VFMO - Dividend Comparison

ONEO's dividend yield for the trailing twelve months is around 1.16%, more than VFMO's 0.62% 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%
VFMO Vanguard U.S. Momentum Factor ETF	0.62%	0.82%	0.72%	0.89%	1.72%	0.81%	0.45%	1.22%	0.70%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ONEO and VFMO in my portfolio?

ONEO and VFMO have a correlation of 0.82, 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 VFMO?

VFMO has higher volatility (6.05%) compared to ONEO (3.67%). In terms of maximum drawdown, ONEO dropped -40.86% vs VFMO's -36.77%.

Which ETF is better, ONEO or VFMO?

On 5-year performance, VFMO leads with 14.03% vs 10.52% for ONEO. On fees, VFMO is cheaper at 0.13% 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 VFMO?

Over the 5-year period, VFMO has performed better with a 14.03% return vs 10.52%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEO or VFMO?

VFMO is cheaper with a 0.13% expense ratio, compared with 0.20% for ONEO.

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

ONEO has the higher dividend yield at 1.16%, compared with 0.62% for VFMO.

What is the main difference between ONEO and VFMO?

They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.20% for ONEO and 0.13% for VFMO.

Which has better risk-adjusted returns?

ONEO currently has the higher Sharpe Ratio (2.20 vs 2.12), 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.