ONEV vs. ULVM

Last updated Jun 4, 2026

ONEV (SPDR Russell 1000 Low Volatility Focus ETF) and ULVM (VictoryShares US Value Momentum ETF) are both exchange-traded funds - ONEV is a Volatility Hedged Equity fund tracking the Russell 1000 Low Volatility Focused Factor (TR), while ULVM is a Momentum fund tracking the Nasdaq Victory US Value Momentum Index. Both are passively managed. Over the past 5 years, ONEV returned 7.83%/yr vs 11.43%/yr for ULVM. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.

Performance

ONEV vs. ULVM - Performance Comparison

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

Returns By Period

In the year-to-date period, ONEV achieves a 6.31% return, which is significantly lower than ULVM's 14.84% return.

ONEV

• 1D: 0.20%
• 1M: 2.36%
• YTD: 6.31%
• 6M: 6.47%
• 1Y: 12.08%
• 3Y*: 12.79%
• 5Y*: 7.83%
• 10Y*: 11.19%

ULVM

• 1D: -0.13%
• 1M: 3.70%
• YTD: 14.84%
• 6M: 14.92%
• 1Y: 28.96%
• 3Y*: 21.27%
• 5Y*: 11.43%
• 10Y*: —

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

ONEV vs. ULVM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEV SPDR Russell 1000 Low Volatility Focus ETF	6.31%	8.14%	11.76%	13.28%	-8.15%	29.19%	6.66%	30.66%	-5.30%	5.19%
ULVM VictoryShares US Value Momentum ETF	14.84%	15.84%	19.76%	10.16%	-9.04%	31.06%	3.51%	22.08%	-12.07%	4.30%

Correlation

The correlation between ONEV and ULVM is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017	0.91

The correlation between ONEV and ULVM has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

ONEV vs. ULVM - Sectors Allocation Comparison

Sectors	ONEV	ULVM
Industrials	19.5%	12.2%
Healthcare	13.9%	10.1%
Consumer Cyclical	12.7%	5.3%
Financial Services	12.1%	22.5%
Technology	11.0%	13.1%
Utilities	8.9%	12.6%
Consumer Defensive	8.5%	4.7%
Real Estate	5.2%	8.7%
Basic Materials	4.0%	4.1%
Communication Services	2.6%	3.5%
Energy	1.6%	3.4%

Return for Risk

ONEV vs. ULVM — Risk / Return Rank

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

ONEV

ONEV Risk / Return Rank: 31
ONEV Sharpe Ratio Rank: 29
ONEV Sortino Ratio Rank: 31
ONEV Omega Ratio Rank: 28
ONEV Calmar Ratio Rank: 31
ONEV Martin Ratio Rank: 35

ULVM

ULVM Risk / Return Rank: 83
ULVM Sharpe Ratio Rank: 83
ULVM Sortino Ratio Rank: 84
ULVM Omega Ratio Rank: 79
ULVM Calmar Ratio Rank: 83
ULVM Martin Ratio Rank: 87

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. ULVM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 1000 Low Volatility Focus ETF (ONEV) and VictoryShares US Value Momentum ETF (ULVM). 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.

	ONEV	ULVM	Difference
Sharpe ratio: Return per unit of total volatility	1.08	2.71	-1.63
Sortino ratio: Return per unit of downside risk	1.67	3.82	-2.14
Omega ratio: Gain probability vs. loss probability	1.19	1.47	-0.29
Calmar ratio: Return relative to maximum drawdown	1.57	4.50	-2.93
Martin ratio: Return relative to average drawdown	5.34	18.64	-13.30
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. ULVM - Sharpe Ratio Comparison

The current ONEV Sharpe Ratio is 1.08, which is lower than the ULVM Sharpe Ratio of 2.71. The chart below compares the historical Sharpe Ratios of ONEV and ULVM, 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

	ONEV	ULVM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.08	2.71	-1.63
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.74	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.67	0.58	+0.09

Drawdowns

ONEV vs. ULVM - Drawdown Comparison

The maximum ONEV drawdown since its inception was -39.72%, roughly equal to the maximum ULVM drawdown of -40.71%. Use the drawdown chart below to compare losses from any high point for ONEV and ULVM.

Drawdown Indicators

	ONEV	ULVM	Difference
Max Drawdown Largest peak-to-trough decline	-39.72%	-40.71%	+0.99%
Max Drawdown (1Y) Largest decline over 1 year	-7.75%	-6.47%	-1.28%
Max Drawdown (3Y) Largest decline over 3 years	-14.81%	-18.14%	+3.33%
Max Drawdown (5Y) Largest decline over 5 years	-18.52%	-19.77%	+1.25%
Max Drawdown (10Y) Largest decline over 10 years	-39.72%	—	—
Current Drawdown Current decline from peak	-0.99%	-0.13%	-0.86%
Average Drawdown Average peak-to-trough decline	-3.90%	-5.75%	+1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.27%	1.56%	+0.71%

Volatility

ONEV vs. ULVM - Volatility Comparison

The current volatility for SPDR Russell 1000 Low Volatility Focus ETF (ONEV) is 2.63%, while VictoryShares US Value Momentum ETF (ULVM) has a volatility of 2.96%. This indicates that ONEV experiences smaller price fluctuations and is considered to be less risky than ULVM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEV	ULVM	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.63%	2.96%	-0.33%
Volatility (6M) Calculated over the trailing 6-month period	7.73%	7.97%	-0.24%
Volatility (1Y) Calculated over the trailing 1-year period	11.20%	10.74%	+0.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.54%	15.48%	-0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.02%	18.86%	-1.84%

ONEV vs. ULVM - Expense Ratio Comparison

Both ONEV and ULVM 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. ULVM - Dividend Comparison

ONEV's dividend yield for the trailing twelve months is around 1.76%, more than ULVM's 1.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ONEV SPDR Russell 1000 Low Volatility Focus ETF	1.76%	1.81%	1.88%	1.79%	1.80%	1.44%	1.87%	2.07%	2.14%	6.91%	3.73%	0.21%
ULVM VictoryShares US Value Momentum ETF	1.58%	1.81%	1.57%	1.94%	1.91%	1.36%	1.51%	1.88%	1.67%	0.38%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ONEV and ULVM in my portfolio?

ONEV and ULVM have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ONEV or ULVM?

ULVM has higher volatility (2.96%) compared to ONEV (2.63%). In terms of maximum drawdown, ONEV dropped -39.72% vs ULVM's -40.71%.

Which ETF is better, ONEV or ULVM?

On 5-year performance, ULVM leads with 11.43% vs 7.83% for ONEV. Both ETFs have the same 0.20% expense ratio. On volatility, ONEV has been the lower-risk option at 2.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONEV or ULVM?

Over the 5-year period, ULVM has performed better with a 11.43% return vs 7.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEV or ULVM?

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

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

ONEV has the higher dividend yield at 1.76%, compared with 1.58% for ULVM.

What is the main difference between ONEV and ULVM?

ONEV is categorized as Volatility Hedged Equity, while ULVM is Momentum. ONEV tracks Russell 1000 Low Volatility Focused Factor (TR), while ULVM tracks Nasdaq Victory US Value Momentum Index. They also come from different issuers: State Street and Victory Capital.

Which has better risk-adjusted returns?

ULVM currently has the higher Sharpe Ratio (2.71 vs 1.08), 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.