ONEY vs. ONEV

Last updated Jun 20, 2026

ONEY (SPDR Russell 1000 Yield Focus ETF) and ONEV (SPDR Russell 1000 Low Volatility Focus ETF) are both exchange-traded funds - ONEY is a Mid Cap Value Equities fund tracking the Russell 1000 Yield Focused Factor Index, while ONEV is a Volatility Hedged Equity fund tracking the Russell 1000 Low Volatility Focused Factor (TR). Both are passively managed. Over the past 10 years, ONEY returned 11.98%/yr vs 11.32%/yr for ONEV. Their correlation of 0.85 suggests significant overlap in exposure. Both charge a 0.20% expense ratio.

Performance

ONEY vs. ONEV - Performance Comparison

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

Returns By Period

In the year-to-date period, ONEY achieves a 13.49% return, which is significantly higher than ONEV's 6.67% return. Over the past 10 years, ONEY has outperformed ONEV with an annualized return of 11.98%, while ONEV has yielded a comparatively lower 11.32% annualized return.

ONEY

• 1D: -0.10%
• 1M: 1.86%
• YTD: 13.49%
• 6M: 13.10%
• 1Y: 22.84%
• 3Y*: 13.93%
• 5Y*: 10.17%
• 10Y*: 11.98%

ONEV

• 1D: -0.06%
• 1M: 1.95%
• YTD: 6.67%
• 6M: 5.96%
• 1Y: 13.43%
• 3Y*: 11.70%
• 5Y*: 8.81%
• 10Y*: 11.32%

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

ONEY vs. ONEV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEY SPDR Russell 1000 Yield Focus ETF	13.49%	7.74%	11.63%	11.12%	-3.60%	37.11%	2.17%	27.45%	-8.71%	15.46%
ONEV SPDR Russell 1000 Low Volatility Focus ETF	6.67%	8.14%	11.76%	13.28%	-8.15%	29.19%	6.66%	30.66%	-5.30%	18.11%

Correlation

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

ONEY vs. ONEV - Sectors Allocation Comparison

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

Return for Risk

ONEY vs. ONEV — Risk / Return Rank

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

ONEY

ONEY Risk / Return Rank: 59
ONEY Sharpe Ratio Rank: 56
ONEY Sortino Ratio Rank: 60
ONEY Omega Ratio Rank: 54
ONEY Calmar Ratio Rank: 63
ONEY Martin Ratio Rank: 63

ONEV

ONEV Risk / Return Rank: 35
ONEV Sharpe Ratio Rank: 35
ONEV Sortino Ratio Rank: 36
ONEV Omega Ratio Rank: 32
ONEV Calmar Ratio Rank: 36
ONEV Martin Ratio Rank: 39

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.

ONEY vs. ONEV - Risk-Adjusted Trends Comparison

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

	ONEY	ONEV	Difference
Sharpe ratio: Return per unit of total volatility	1.83	1.19	+0.63
Sortino ratio: Return per unit of downside risk	2.73	1.82	+0.90
Omega ratio: Gain probability vs. loss probability	1.32	1.21	+0.12
Calmar ratio: Return relative to maximum drawdown	3.02	1.74	+1.27
Martin ratio: Return relative to average drawdown	10.82	5.93	+4.89

ONEY vs. ONEV - Sharpe Ratio Comparison

The current ONEY Sharpe Ratio is 1.83, which is higher than the ONEV Sharpe Ratio of 1.19. The chart below compares the historical Sharpe Ratios of ONEY and ONEV, 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

ONEY vs. ONEV - Drawdown Comparison

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

Drawdown Indicators

	ONEY	ONEV	Difference
Max Drawdown Largest peak-to-trough decline	-46.80%	-39.72%	-7.08%
Max Drawdown (1Y) Largest decline over 1 year	-7.61%	-7.75%	+0.14%
Max Drawdown (3Y) Largest decline over 3 years	-17.50%	-14.81%	-2.69%
Max Drawdown (5Y) Largest decline over 5 years	-18.93%	-18.52%	-0.41%
Max Drawdown (10Y) Largest decline over 10 years	-46.80%	-39.72%	-7.08%
Current Drawdown Current decline from peak	-2.75%	-1.91%	-0.84%
Average Drawdown Average peak-to-trough decline	-4.97%	-3.89%	-1.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	2.27%	-0.15%

Volatility

ONEY vs. ONEV - Volatility Comparison

SPDR Russell 1000 Yield Focus ETF (ONEY) has a higher volatility of 3.54% compared to SPDR Russell 1000 Low Volatility Focus ETF (ONEV) at 3.04%. This indicates that ONEY's price experiences larger fluctuations and is considered to be riskier than ONEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEY	ONEV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	3.04%	+0.50%
Volatility (6M) Calculated over the trailing 6-month period	8.64%	7.87%	+0.77%
Volatility (1Y) Calculated over the trailing 1-year period	12.57%	11.32%	+1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.10%	14.54%	+1.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.87%	17.03%	+2.84%

ONEY vs. ONEV - Expense Ratio Comparison

Both ONEY and ONEV 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

ONEY vs. ONEV - Dividend Comparison

ONEY's dividend yield for the trailing twelve months is around 2.83%, more than ONEV's 1.76% 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%
ONEY SPDR Russell 1000 Yield Focus ETF	2.83%	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 ONEY and ONEV in my portfolio?

With a correlation of 0.92, ONEY and ONEV 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, ONEY or ONEV?

ONEY has higher volatility (3.54%) compared to ONEV (3.04%). In terms of maximum drawdown, ONEY dropped -46.80% vs ONEV's -39.72%.

Which ETF is better, ONEY or ONEV?

On 10-year performance, ONEY leads with 11.98% vs 11.32% for ONEV. Both ETFs have the same 0.20% expense ratio. On volatility, ONEV has been the lower-risk option at 3.04%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONEY or ONEV?

Over the 10-year period, ONEY has performed better with a 11.98% return vs 11.32%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEY or ONEV?

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

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

ONEY has the higher dividend yield at 2.83%, compared with 1.76% for ONEV.

What is the main difference between ONEY and ONEV?

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

Which has better risk-adjusted returns?

ONEY currently has the higher Sharpe Ratio (1.83 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.