ONEO vs. VONE

Last updated Jun 5, 2026

ONEO (SPDR Russell 1000 Momentum Focus ETF) and VONE (Vanguard Russell 1000 ETF) are both exchange-traded funds - ONEO is a Momentum fund tracking the Russell 1000 Momentum Focused Factor Index, while VONE is a Large Cap Blend Equities fund tracking the Russell 1000 Index. Both are passively managed. Over the past 10 years, ONEO returned 11.86%/yr vs 15.24%/yr for VONE. Their correlation of 0.86 suggests significant overlap in exposure. ONEO charges 0.20%/yr vs 0.08%/yr for VONE.

Performance

ONEO vs. VONE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Russell 1000 Momentum Focus ETF (ONEO) and Vanguard Russell 1000 ETF (VONE). 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 VONE's 11.05% return. Over the past 10 years, ONEO has underperformed VONE with an annualized return of 11.86%, while VONE has yielded a comparatively higher 15.24% 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%

VONE

• 1D: 0.44%
• 1M: 4.62%
• YTD: 11.05%
• 6M: 10.88%
• 1Y: 27.69%
• 3Y*: 22.42%
• 5Y*: 13.18%
• 10Y*: 15.24%

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

ONEO vs. VONE - 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%
VONE Vanguard Russell 1000 ETF	11.05%	17.21%	24.51%	26.41%	-19.14%	26.49%	20.95%	31.12%	-4.84%	21.55%

Correlation

The correlation between ONEO and VONE is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Dec 4, 2015	0.86

The correlation between ONEO and VONE has been stable across timeframes, ranging from 0.80 to 0.88 - a consistent structural relationship.

ONEO vs. VONE - Sectors Allocation Comparison

Sectors	ONEO	VONE
Technology	21.9%	33.9%
Industrials	18.0%	9.2%
Consumer Cyclical	11.6%	10.3%
Healthcare	9.5%	8.7%
Financial Services	9.4%	11.9%
Energy	7.3%	3.7%
Utilities	5.8%	2.3%
Consumer Defensive	5.4%	4.8%
Basic Materials	4.7%	2.0%
Communication Services	3.6%	10.9%
Real Estate	2.9%	2.2%

Return for Risk

ONEO vs. VONE — 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

VONE

VONE Risk / Return Rank: 71
VONE Sharpe Ratio Rank: 72
VONE Sortino Ratio Rank: 72
VONE Omega Ratio Rank: 71
VONE Calmar Ratio Rank: 64
VONE Martin Ratio Rank: 77

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. VONE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 1000 Momentum Focus ETF (ONEO) and Vanguard Russell 1000 ETF (VONE). 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	VONE	Difference
Sharpe ratio: Return per unit of total volatility	2.20	2.32	-0.13
Sortino ratio: Return per unit of downside risk	3.14	3.19	-0.05
Omega ratio: Gain probability vs. loss probability	1.39	1.42	-0.03
Calmar ratio: Return relative to maximum drawdown	3.82	3.14	+0.67
Martin ratio: Return relative to average drawdown	15.14	14.49	+0.65
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. VONE - Sharpe Ratio Comparison

The current ONEO Sharpe Ratio is 2.20, which is comparable to the VONE Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of ONEO and VONE, 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	VONE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.20	2.32	-0.13
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.61	0.78	-0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	0.84	-0.20
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.85	-0.23

Drawdowns

ONEO vs. VONE - Drawdown Comparison

The maximum ONEO drawdown since its inception was -40.86%, which is greater than VONE's maximum drawdown of -34.66%. Use the drawdown chart below to compare losses from any high point for ONEO and VONE.

Drawdown Indicators

	ONEO	VONE	Difference
Max Drawdown Largest peak-to-trough decline	-40.86%	-34.66%	-6.20%
Max Drawdown (1Y) Largest decline over 1 year	-7.37%	-8.85%	+1.48%
Max Drawdown (3Y) Largest decline over 3 years	-19.72%	-19.06%	-0.66%
Max Drawdown (5Y) Largest decline over 5 years	-22.39%	-25.12%	+2.73%
Max Drawdown (10Y) Largest decline over 10 years	-40.86%	-34.66%	-6.20%
Current Drawdown Current decline from peak	0.00%	-0.27%	+0.27%
Average Drawdown Average peak-to-trough decline	-4.99%	-3.91%	-1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.86%	1.92%	-0.06%

Volatility

ONEO vs. VONE - Volatility Comparison

SPDR Russell 1000 Momentum Focus ETF (ONEO) has a higher volatility of 3.67% compared to Vanguard Russell 1000 ETF (VONE) at 2.77%. This indicates that ONEO's price experiences larger fluctuations and is considered to be riskier than VONE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEO	VONE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.67%	2.77%	+0.90%
Volatility (6M) Calculated over the trailing 6-month period	9.66%	9.00%	+0.66%
Volatility (1Y) Calculated over the trailing 1-year period	12.81%	11.97%	+0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.21%	17.08%	+0.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.66%	18.25%	+0.41%

ONEO vs. VONE - Expense Ratio Comparison

ONEO has a 0.20% expense ratio, which is higher than VONE's 0.08% 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. VONE - Dividend Comparison

ONEO's dividend yield for the trailing twelve months is around 1.16%, more than VONE's 0.99% 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%
VONE Vanguard Russell 1000 ETF	0.99%	1.07%	1.20%	1.40%	1.59%	1.16%	1.45%	1.65%	1.96%	1.69%	1.89%	1.89%

Frequently Asked Questions

Can I hold both ONEO and VONE in my portfolio?

ONEO and VONE have a correlation of 0.80, 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 VONE?

ONEO has higher volatility (3.67%) compared to VONE (2.77%). In terms of maximum drawdown, ONEO dropped -40.86% vs VONE's -34.66%.

Which ETF is better, ONEO or VONE?

On 10-year performance, VONE leads with 15.24% vs 11.86% for ONEO. On fees, VONE is cheaper at 0.08% per year. On volatility, VONE has been the lower-risk option at 2.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONEO or VONE?

Over the 10-year period, VONE has performed better with a 15.24% 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 VONE?

VONE is cheaper with a 0.08% expense ratio, compared with 0.20% for ONEO.

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

ONEO has the higher dividend yield at 1.16%, compared with 0.99% for VONE.

What is the main difference between ONEO and VONE?

ONEO is categorized as Momentum, while VONE is Large Cap Blend Equities. ONEO tracks Russell 1000 Momentum Focused Factor Index, while VONE tracks Russell 1000 Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.20% for ONEO and 0.08% for VONE.

Which has better risk-adjusted returns?

VONE currently has the higher Sharpe Ratio (2.32 vs 2.20), 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.