ONEO vs. XLU

Last updated Apr 2, 2026

Compare and contrast key facts about SPDR Russell 1000 Momentum Focus ETF (ONEO) and Utilities Select Sector SPDR Fund (XLU).

ONEO and XLU are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ONEO is a passively managed fund by State Street that tracks the performance of the Russell 1000 Momentum Focused Factor Index. It was launched on Dec 2, 2015. XLU is a passively managed fund by State Street that tracks the performance of the Utilities Select Sector Index. It was launched on Dec 16, 1998. Both ONEO and XLU are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ONEO vs. XLU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Russell 1000 Momentum Focus ETF (ONEO) and Utilities Select Sector SPDR Fund (XLU). The values are adjusted to include any dividend payments, if applicable.

ONEO vs. XLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEO SPDR Russell 1000 Momentum Focus ETF	4.18%	10.61%	15.01%	15.64%	-12.01%	26.72%	10.76%	26.53%	-12.41%	21.16%
XLU Utilities Select Sector SPDR Fund	8.77%	16.03%	23.31%	-7.18%	1.44%	17.70%	0.51%	25.93%	3.94%	12.05%

Returns By Period

In the year-to-date period, ONEO achieves a 4.18% return, which is significantly lower than XLU's 8.77% return. Over the past 10 years, ONEO has outperformed XLU with an annualized return of 11.01%, while XLU has yielded a comparatively lower 9.79% annualized return.

ONEO

• 1D: 0.92%
• 1M: -4.34%
• YTD: 4.18%
• 6M: 5.25%
• 1Y: 17.79%
• 3Y*: 14.14%
• 5Y*: 8.89%
• 10Y*: 11.01%

XLU

• 1D: 0.48%
• 1M: -1.98%
• YTD: 8.77%
• 6M: 6.26%
• 1Y: 19.98%
• 3Y*: 14.30%
• 5Y*: 10.90%
• 10Y*: 9.79%

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

ONEO vs. XLU - Expense Ratio Comparison

ONEO has a 0.20% expense ratio, which is higher than XLU'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%.

ONEO

SPDR Russell 1000 Momentum Focus ETF

XLU

Utilities Select Sector SPDR Fund

Return for Risk

ONEO vs. XLU — Risk / Return Rank

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

ONEO

ONEO Risk / Return Rank: 56
ONEO Sharpe Ratio Rank: 53
ONEO Sortino Ratio Rank: 56
ONEO Omega Ratio Rank: 54
ONEO Calmar Ratio Rank: 53
ONEO Martin Ratio Rank: 64

XLU

XLU Risk / Return Rank: 66
XLU Sharpe Ratio Rank: 70
XLU Sortino Ratio Rank: 66
XLU Omega Ratio Rank: 62
XLU Calmar Ratio Rank: 79
XLU Martin Ratio Rank: 52

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. XLU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 1000 Momentum Focus ETF (ONEO) and Utilities Select Sector SPDR Fund (XLU). 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	XLU	Difference
Sharpe ratio Return per unit of total volatility	1.00	1.27	-0.27
Sortino ratio Return per unit of downside risk	1.52	1.73	-0.21
Omega ratio Gain probability vs. loss probability	1.21	1.23	-0.02
Calmar ratio Return relative to maximum drawdown	1.45	2.21	-0.76
Martin ratio Return relative to average drawdown	6.85	5.31	+1.54
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. XLU - Sharpe Ratio Comparison

The current ONEO Sharpe Ratio is 1.00, which is comparable to the XLU Sharpe Ratio of 1.27. The chart below compares the historical Sharpe Ratios of ONEO and XLU, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ONEO	XLU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.00	1.27	-0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.64	-0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.51	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	0.41	+0.15

Correlation

The correlation between ONEO and XLU is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ONEO vs. XLU - Dividend Comparison

ONEO's dividend yield for the trailing twelve months is around 1.31%, less than XLU's 2.58% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ONEO SPDR Russell 1000 Momentum Focus ETF	1.31%	1.29%	1.30%	1.56%	1.73%	1.19%	1.28%	1.64%	1.72%	7.69%	1.82%	0.17%
XLU Utilities Select Sector SPDR Fund	2.58%	2.71%	2.96%	3.39%	2.92%	2.79%	3.14%	2.95%	3.33%	3.33%	3.41%	3.67%

Drawdowns

ONEO vs. XLU - Drawdown Comparison

The maximum ONEO drawdown since its inception was -40.86%, smaller than the maximum XLU drawdown of -51.98%. Use the drawdown chart below to compare losses from any high point for ONEO and XLU.

Drawdown Indicators

	ONEO	XLU	Difference
Max Drawdown Largest peak-to-trough decline	-40.86%	-51.98%	+11.12%
Max Drawdown (1Y) Largest decline over 1 year	-12.56%	-9.18%	-3.38%
Max Drawdown (5Y) Largest decline over 5 years	-22.39%	-25.26%	+2.87%
Max Drawdown (10Y) Largest decline over 10 years	-40.86%	-36.07%	-4.79%
Current Drawdown Current decline from peak	-4.37%	-2.72%	-1.65%
Average Drawdown Average peak-to-trough decline	-5.07%	-10.26%	+5.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	3.82%	-1.17%

Volatility

ONEO vs. XLU - Volatility Comparison

SPDR Russell 1000 Momentum Focus ETF (ONEO) and Utilities Select Sector SPDR Fund (XLU) have volatilities of 5.19% and 5.09%, 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	XLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.19%	5.09%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	9.89%	10.36%	-0.47%
Volatility (1Y) Calculated over the trailing 1-year period	17.85%	15.79%	+2.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.20%	17.18%	+0.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.61%	19.21%	-0.60%