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ONEV vs. QLV
Performance
Return for Risk
Dividends
Drawdowns
Volatility

ONEV vs. QLV

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR Russell 1000 Low Volatility Focus ETF (ONEV) and FlexShares US Quality Low Volatility Index Fund (QLV).

ONEV and QLV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ONEV is a passively managed fund by State Street that tracks the performance of the Russell 1000 Low Volatility Focused Factor (TR). It was launched on Dec 2, 2015. QLV is a passively managed fund by Northern Trust that tracks the performance of the Northern Trust Quality Low Volatility Index. It was launched on Jul 15, 2019. Both ONEV and QLV 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

ONEV vs. QLV - Performance Comparison

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

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ONEV vs. QLV - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
ONEV
SPDR Russell 1000 Low Volatility Focus ETF		1.18%8.14%11.76%13.28%-8.15%29.19%6.66%6.95%
QLV
FlexShares US Quality Low Volatility Index Fund		0.10%12.28%18.08%13.71%-9.97%26.08%9.63%6.24%

Returns By Period

In the year-to-date period, ONEV achieves a 1.18% return, which is significantly higher than QLV's 0.10% return.

ONEV

1D
1.63%
1M
-5.74%
YTD
1.18%
6M
1.78%
1Y
7.84%
3Y*
10.38%
5Y*
7.98%
10Y*
10.81%

QLV

1D
1.54%
1M
-3.92%
YTD
0.10%
6M
0.74%
1Y
10.86%
3Y*
13.76%
5Y*
10.52%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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SPDR Russell 1000 Low Volatility Focus ETF

FlexShares US Quality Low Volatility Index Fund

Often compared with ONEV:
ONEV vs. ONEYONEV vs. ONEOONEV vs. AGOXONEV vs. SPYONEV vs. AUSFONEV vs. RFVONEV vs. VOE
Often compared with QLV:
QLV vs. XRLVQLV vs. IUSQLV vs. USMVQLV vs. VOOQLV vs. PBJQLV vs. VMVFXQLV vs. ^GSPC

ONEV vs. QLV - Expense Ratio Comparison

ONEV has a 0.20% expense ratio, which is lower than QLV's 0.22% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

QLV
FlexShares US Quality Low Volatility Index Fund
ONEV
SPDR Russell 1000 Low Volatility Focus ETF

Return for Risk

ONEV vs. QLV — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ONEV
ONEV Risk / Return Rank: 3232
Overall Rank
ONEV Sharpe Ratio Rank: 3030
Sharpe Ratio Rank
ONEV Sortino Ratio Rank: 3131
Sortino Ratio Rank
ONEV Omega Ratio Rank: 2828
Omega Ratio Rank
ONEV Calmar Ratio Rank: 3333
Calmar Ratio Rank
ONEV Martin Ratio Rank: 3737
Martin Ratio Rank
QLV
QLV Risk / Return Rank: 5252
Overall Rank
QLV Sharpe Ratio Rank: 4848
Sharpe Ratio Rank
QLV Sortino Ratio Rank: 5050
Sortino Ratio Rank
QLV Omega Ratio Rank: 5353
Omega Ratio Rank
QLV Calmar Ratio Rank: 4747
Calmar Ratio Rank
QLV Martin Ratio Rank: 6363
Martin Ratio Rank
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. QLV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 1000 Low Volatility Focus ETF (ONEV) and FlexShares US Quality Low Volatility Index Fund (QLV). 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.

ONEVQLVDifference

Sharpe ratio

Return per unit of total volatility

0.53

0.86

-0.32

Sortino ratio

Return per unit of downside risk

0.87

1.31

-0.44

Omega ratio

Gain probability vs. loss probability

1.11

1.19

-0.08

Calmar ratio

Return relative to maximum drawdown

0.81

1.19

-0.38

Martin ratio

Return relative to average drawdown

3.30

6.18

-2.88

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ONEV vs. QLV - Sharpe Ratio Comparison

The current ONEV Sharpe Ratio is 0.53, which is lower than the QLV Sharpe Ratio of 0.86. The chart below compares the historical Sharpe Ratios of ONEV and QLV, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

ONEVQLVDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.53

0.86

-0.32

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.55

0.83

-0.28

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.64

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.65

0.65

0.00

Correlation

The correlation between ONEV and QLV is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ONEV vs. QLV - Dividend Comparison

ONEV's dividend yield for the trailing twelve months is around 1.85%, more than QLV's 1.60% yield.

TTM20252024202320222021202020192018201720162015
ONEV
SPDR Russell 1000 Low Volatility Focus ETF		1.85%1.81%1.88%1.79%1.80%1.44%1.87%2.07%2.14%6.91%3.73%0.21%
QLV
FlexShares US Quality Low Volatility Index Fund		1.60%1.60%1.66%1.60%1.74%0.96%1.24%0.58%0.00%0.00%0.00%0.00%

Drawdowns

ONEV vs. QLV - Drawdown Comparison

The maximum ONEV drawdown since its inception was -39.72%, which is greater than QLV's maximum drawdown of -33.71%. Use the drawdown chart below to compare losses from any high point for ONEV and QLV.

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Drawdown Indicators

ONEVQLVDifference

Max Drawdown

Largest peak-to-trough decline

-39.72%

-33.71%

-6.01%

Max Drawdown (1Y)

Largest decline over 1 year

-10.78%

-9.75%

-1.03%

Max Drawdown (5Y)

Largest decline over 5 years

-18.52%

-17.93%

-0.59%

Max Drawdown (10Y)

Largest decline over 10 years

-39.72%

—

—

Current Drawdown

Current decline from peak

-5.76%

-4.29%

-1.47%

Average Drawdown

Average peak-to-trough decline

-3.92%

-4.08%

+0.16%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.64%

1.88%

+0.76%

Volatility

ONEV vs. QLV - Volatility Comparison

SPDR Russell 1000 Low Volatility Focus ETF (ONEV) has a higher volatility of 3.78% compared to FlexShares US Quality Low Volatility Index Fund (QLV) at 3.18%. This indicates that ONEV's price experiences larger fluctuations and is considered to be riskier than QLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ONEVQLVDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.78%

3.18%

+0.60%

Volatility (6M)

Calculated over the trailing 6-month period

8.06%

5.81%

+2.25%

Volatility (1Y)

Calculated over the trailing 1-year period

14.79%

12.74%

+2.05%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.58%

12.73%

+1.85%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

16.99%

16.75%

+0.24%