ONEV vs. ONEY

Last updated Jun 24, 2026

ONEV (SPDR Russell 1000 Low Volatility Focus ETF) and ONEY (SPDR Russell 1000 Yield Focus ETF) are both exchange-traded funds - ONEV is a Volatility Hedged Equity fund tracking the Russell 1000 Low Volatility Focused Factor (TR), while ONEY is a Mid Cap Value Equities fund tracking the Russell 1000 Yield Focused Factor Index. Both are passively managed. Over the past 10 years, ONEV returned 11.45%/yr vs 12.19%/yr for ONEY. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.

Performance

ONEV vs. ONEY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Russell 1000 Low Volatility Focus ETF (ONEV) and SPDR Russell 1000 Yield Focus ETF (ONEY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONEV achieves a 7.11% return, which is significantly lower than ONEY's 14.15% return. Over the past 10 years, ONEV has underperformed ONEY with an annualized return of 11.45%, while ONEY has yielded a comparatively higher 12.19% annualized return.

ONEV

• 1D: 0.35%
• 1M: 1.21%
• YTD: 7.11%
• 6M: 6.21%
• 1Y: 12.62%
• 3Y*: 12.62%
• 5Y*: 8.43%
• 10Y*: 11.45%

ONEY

• 1D: 0.24%
• 1M: 1.02%
• YTD: 14.15%
• 6M: 13.74%
• 1Y: 22.55%
• 3Y*: 15.30%
• 5Y*: 9.56%
• 10Y*: 12.19%

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

ONEV vs. ONEY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEV SPDR Russell 1000 Low Volatility Focus ETF	7.11%	8.14%	11.76%	13.28%	-8.15%	29.19%	6.66%	30.66%	-5.30%	18.11%
ONEY SPDR Russell 1000 Yield Focus ETF	14.15%	7.74%	11.63%	11.12%	-3.60%	37.11%	2.17%	27.45%	-8.71%	15.46%

Correlation

The correlation between ONEV and ONEY is 0.92, 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	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Dec 3, 2015	0.85

The correlation between ONEV and ONEY has been stable across timeframes, ranging from 0.85 to 0.94 - a consistent structural relationship.

ONEV vs. ONEY - Sectors Allocation Comparison

Sectors	ONEV	ONEY
Industrials	19.0%	13.6%
Healthcare	14.2%	4.2%
Consumer Cyclical	12.7%	12.5%
Technology	12.7%	6.1%
Financial Services	11.7%	9.9%
Utilities	8.5%	10.2%
Consumer Defensive	8.3%	12.0%
Real Estate	5.2%	9.7%
Basic Materials	4.0%	8.2%
Communication Services	2.6%	1.6%
Energy	1.2%	12.2%

Return for Risk

ONEV vs. ONEY — Risk / Return Rank

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

ONEV

ONEV Risk / Return Rank: 34
ONEV Sharpe Ratio Rank: 33
ONEV Sortino Ratio Rank: 34
ONEV Omega Ratio Rank: 30
ONEV Calmar Ratio Rank: 35
ONEV Martin Ratio Rank: 38

ONEY

ONEY Risk / Return Rank: 59
ONEY Sharpe Ratio Rank: 57
ONEY Sortino Ratio Rank: 61
ONEY Omega Ratio Rank: 54
ONEY Calmar Ratio Rank: 64
ONEY Martin Ratio Rank: 62

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.

ONEV vs. ONEY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 1000 Low Volatility Focus ETF (ONEV) and SPDR Russell 1000 Yield Focus ETF (ONEY). 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.

	ONEV	ONEY	Difference
Sharpe ratio: Return per unit of total volatility	1.12	1.80	-0.68
Sortino ratio: Return per unit of downside risk	1.72	2.70	-0.97
Omega ratio: Gain probability vs. loss probability	1.20	1.32	-0.12
Calmar ratio: Return relative to maximum drawdown	1.64	2.98	-1.34
Martin ratio: Return relative to average drawdown	5.56	10.64	-5.08

ONEV vs. ONEY - Sharpe Ratio Comparison

The current ONEV Sharpe Ratio is 1.12, which is lower than the ONEY Sharpe Ratio of 1.80. The chart below compares the historical Sharpe Ratios of ONEV and ONEY, 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

ONEV vs. ONEY - Drawdown Comparison

The maximum ONEV drawdown since its inception was -39.72%, smaller than the maximum ONEY drawdown of -46.80%. Use the drawdown chart below to compare losses from any high point for ONEV and ONEY.

Drawdown Indicators

	ONEV	ONEY	Difference
Max Drawdown Largest peak-to-trough decline	-39.72%	-46.80%	+7.08%
Max Drawdown (1Y) Largest decline over 1 year	-7.75%	-7.61%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	-14.81%	-17.50%	+2.69%
Max Drawdown (5Y) Largest decline over 5 years	-18.52%	-18.93%	+0.41%
Max Drawdown (10Y) Largest decline over 10 years	-39.72%	-46.80%	+7.08%
Current Drawdown Current decline from peak	-1.50%	-2.18%	+0.68%
Average Drawdown Average peak-to-trough decline	-3.89%	-4.97%	+1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	2.13%	+0.14%

Volatility

ONEV vs. ONEY - Volatility Comparison

The current volatility for SPDR Russell 1000 Low Volatility Focus ETF (ONEV) is 2.92%, while SPDR Russell 1000 Yield Focus ETF (ONEY) has a volatility of 3.50%. This indicates that ONEV experiences smaller price fluctuations and is considered to be less risky than ONEY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEV	ONEY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.92%	3.50%	-0.58%
Volatility (6M) Calculated over the trailing 6-month period	7.87%	8.63%	-0.76%
Volatility (1Y) Calculated over the trailing 1-year period	11.32%	12.57%	-1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.53%	16.06%	-1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	19.88%	-2.84%

ONEV vs. ONEY - Expense Ratio Comparison

Both ONEV and ONEY have an expense ratio of 0.20%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

ONEV vs. ONEY - Dividend Comparison

ONEV's dividend yield for the trailing twelve months is around 1.88%, less than ONEY's 2.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ONEV SPDR Russell 1000 Low Volatility Focus ETF	1.88%	1.81%	1.88%	1.79%	1.80%	1.44%	1.87%	2.07%	2.14%	6.91%	3.73%	0.21%
ONEY SPDR Russell 1000 Yield Focus ETF	2.88%	3.15%	3.18%	3.14%	3.17%	2.46%	2.74%	3.17%	3.72%	10.73%	6.31%	0.29%

Frequently Asked Questions

Can I hold both ONEV and ONEY in my portfolio?

With a correlation of 0.92, ONEV and ONEY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, ONEV or ONEY?

ONEY has higher volatility (3.50%) compared to ONEV (2.92%). In terms of maximum drawdown, ONEV dropped -39.72% vs ONEY's -46.80%.

Which ETF is better, ONEV or ONEY?

On 10-year performance, ONEY leads with 12.19% vs 11.45% for ONEV. Both ETFs have the same 0.20% expense ratio. On volatility, ONEV 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, ONEV or ONEY?

Over the 10-year period, ONEY has performed better with a 12.19% return vs 11.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEV or ONEY?

ONEV and ONEY have the same expense ratio: 0.20% per year.

Which ETF pays a higher dividend yield, ONEV or ONEY?

ONEY has the higher dividend yield at 2.88%, compared with 1.88% for ONEV.

What is the main difference between ONEV and ONEY?

ONEV is categorized as Volatility Hedged Equity, while ONEY is Mid Cap Value Equities. ONEV tracks Russell 1000 Low Volatility Focused Factor (TR), while ONEY tracks Russell 1000 Yield Focused Factor Index.

Which has better risk-adjusted returns?

ONEY currently has the higher Sharpe Ratio (1.80 vs 1.12), 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.