ONEV vs. PIT
ONEV (SPDR Russell 1000 Low Volatility Focus ETF) and PIT (VanEck Commodity Strategy ETF) are both exchange-traded funds - ONEV is a Volatility Hedged Equity fund tracking the Russell 1000 Low Volatility Focused Factor (TR), while PIT is a Commodities fund actively managed by VanEck. ONEV is passively managed, while PIT is actively managed. Over the past 3 years, ONEV returned 12.49%/yr vs 19.51%/yr for PIT. At a 0.07 correlation, their price movements are largely independent. ONEV charges 0.20%/yr vs 0.55%/yr for PIT.
Performance
ONEV vs. PIT - Performance Comparison
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Returns By Period
In the year-to-date period, ONEV achieves a 6.74% return, which is significantly lower than PIT's 27.31% return.
ONEV
- 1D
- 0.06%
- 1M
- 0.86%
- YTD
- 6.74%
- 6M
- 5.55%
- 1Y
- 13.40%
- 3Y*
- 12.49%
- 5Y*
- 8.48%
- 10Y*
- 11.41%
PIT
- 1D
- -0.75%
- 1M
- -10.60%
- YTD
- 27.31%
- 6M
- 26.74%
- 1Y
- 38.33%
- 3Y*
- 19.51%
- 5Y*
- —
- 10Y*
- —
ONEV vs. PIT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ONEV SPDR Russell 1000 Low Volatility Focus ETF | 6.74% | 8.14% | 11.76% | 13.28% | -0.36% |
PIT VanEck Commodity Strategy ETF | 27.31% | 21.63% | 6.77% | -4.54% | 1.67% |
Correlation
The correlation between ONEV and PIT is -0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022 | 0.07 |
The correlation between ONEV and PIT shifts across timeframes, from -0.09 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ONEV vs. PIT — Risk / Return Rank
ONEV
PIT
ONEV vs. PIT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 1000 Low Volatility Focus ETF (ONEV) and VanEck Commodity Strategy ETF (PIT). 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 | PIT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.59 | ||
| Sortino ratioReturn per unit of downside risk | -0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.32 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.74 | 2.74 | -1.00 |
| Martin ratioReturn relative to average drawdown | 5.91 | 10.88 | -4.97 |
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Drawdowns
ONEV vs. PIT - Drawdown Comparison
The maximum ONEV drawdown since its inception was -39.72%, which is greater than PIT's maximum drawdown of -14.05%. Use the drawdown chart below to compare losses from any high point for ONEV and PIT.
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Drawdown Indicators
| ONEV | PIT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.72% | -14.05% | -25.67% |
Max Drawdown (1Y)Largest decline over 1 year | -7.75% | -14.05% | +6.30% |
Max Drawdown (3Y)Largest decline over 3 years | -14.81% | -14.05% | -0.76% |
Max Drawdown (5Y)Largest decline over 5 years | -18.52% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -39.72% | — | — |
Current DrawdownCurrent decline from peak | -1.84% | -14.05% | +12.21% |
Average DrawdownAverage peak-to-trough decline | -3.89% | -4.07% | +0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.27% | 3.59% | -1.32% |
Volatility
ONEV vs. PIT - Volatility Comparison
The current volatility for SPDR Russell 1000 Low Volatility Focus ETF (ONEV) is 2.91%, while VanEck Commodity Strategy ETF (PIT) has a volatility of 4.67%. This indicates that ONEV experiences smaller price fluctuations and is considered to be less risky than PIT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ONEV | PIT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.91% | 4.67% | -1.76% |
Volatility (6M)Calculated over the trailing 6-month period | 7.87% | 19.36% | -11.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.34% | 21.66% | -10.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.53% | 17.50% | -2.97% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.04% | 17.50% | -0.46% |
ONEV vs. PIT - Expense Ratio Comparison
ONEV has a 0.20% expense ratio, which is lower than PIT's 0.55% expense ratio.
Dividends
ONEV vs. PIT - Dividend Comparison
ONEV's dividend yield for the trailing twelve months is around 2.31%, less than PIT's 7.00% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ONEV SPDR Russell 1000 Low Volatility Focus ETF | 2.31% | 1.81% | 1.88% | 1.79% | 1.80% | 1.44% | 1.87% | 2.07% | 2.14% | 6.91% | 3.73% | 0.21% |
PIT VanEck Commodity Strategy ETF | 7.00% | 8.92% | 3.59% | 6.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ONEV and PIT have a correlation of -0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PIT has higher volatility (4.67%) compared to ONEV (2.91%). In terms of maximum drawdown, ONEV dropped -39.72% vs PIT's -14.05%.
On 3-year performance, PIT leads with 19.51% vs 12.49% for ONEV. On fees, ONEV is cheaper at 0.20% per year. On volatility, ONEV has been the lower-risk option at 2.91%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, PIT has performed better with a 19.51% return vs 12.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ONEV is cheaper with a 0.20% expense ratio, compared with 0.55% for PIT.
PIT has the higher dividend yield at 7.00%, compared with 2.31% for ONEV.
ONEV is categorized as Volatility Hedged Equity, while PIT is Commodities. They also come from different issuers: State Street and VanEck. Their fees differ too: 0.20% for ONEV and 0.55% for PIT.
PIT currently has the higher Sharpe Ratio (1.78 vs 1.19), 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.
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