ONEY vs. VOE

Last updated Jun 20, 2026

ONEY (SPDR Russell 1000 Yield Focus ETF) and VOE (Vanguard Mid-Cap Value ETF) are both Mid Cap Value Equities funds - ONEY tracks the Russell 1000 Yield Focused Factor Index while VOE tracks the CRSP US Mid Cap Value Index. Both are passively managed. Over the past 10 years, ONEY returned 11.98%/yr vs 10.60%/yr for VOE. Their correlation of 0.86 suggests significant overlap in exposure. ONEY charges 0.20%/yr vs 0.05%/yr for VOE.

Performance

ONEY vs. VOE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Russell 1000 Yield Focus ETF (ONEY) and Vanguard Mid-Cap Value ETF (VOE). 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 VOE's 11.03% return. Over the past 10 years, ONEY has outperformed VOE with an annualized return of 11.98%, while VOE has yielded a comparatively lower 10.60% 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%

VOE

• 1D: 0.02%
• 1M: 1.77%
• YTD: 11.03%
• 6M: 10.86%
• 1Y: 23.69%
• 3Y*: 15.08%
• 5Y*: 9.72%
• 10Y*: 10.60%

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

ONEY vs. VOE - 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%
VOE Vanguard Mid-Cap Value ETF	11.03%	12.08%	14.00%	9.85%	-7.97%	28.78%	2.65%	27.85%	-12.48%	17.07%

Correlation

The correlation between ONEY and VOE is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Dec 3, 2015	0.86

The correlation between ONEY and VOE shifts across timeframes, from 0.86 (all time) to 0.96 (5 years), reflecting how their relationship changes across market environments.

ONEY vs. VOE - Sectors Allocation Comparison

Sectors	ONEY	VOE
Industrials	13.6%	14.0%
Consumer Cyclical	12.5%	5.7%
Energy	12.2%	12.8%
Consumer Defensive	12.0%	7.9%
Utilities	10.2%	12.1%
Financial Services	9.9%	16.5%
Real Estate	9.7%	6.0%
Basic Materials	8.2%	5.8%
Technology	6.1%	10.9%
Healthcare	4.2%	6.3%
Communication Services	1.6%	2.2%

Return for Risk

ONEY vs. VOE — 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

VOE

VOE Risk / Return Rank: 68
VOE Sharpe Ratio Rank: 66
VOE Sortino Ratio Rank: 68
VOE Omega Ratio Rank: 62
VOE Calmar Ratio Rank: 72
VOE Martin Ratio Rank: 73

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. VOE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 1000 Yield Focus ETF (ONEY) and Vanguard Mid-Cap Value ETF (VOE). 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	VOE	Difference
Sharpe ratio: Return per unit of total volatility	1.83	2.05	-0.22
Sortino ratio: Return per unit of downside risk	2.73	2.93	-0.21
Omega ratio: Gain probability vs. loss probability	1.32	1.36	-0.03
Calmar ratio: Return relative to maximum drawdown	3.02	3.44	-0.42
Martin ratio: Return relative to average drawdown	10.82	13.00	-2.18

ONEY vs. VOE - Sharpe Ratio Comparison

The current ONEY Sharpe Ratio is 1.83, which is comparable to the VOE Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of ONEY and VOE, 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. VOE - Drawdown Comparison

The maximum ONEY drawdown since its inception was -46.80%, smaller than the maximum VOE drawdown of -61.50%. Use the drawdown chart below to compare losses from any high point for ONEY and VOE.

Drawdown Indicators

	ONEY	VOE	Difference
Max Drawdown Largest peak-to-trough decline	-46.80%	-61.50%	+14.70%
Max Drawdown (1Y) Largest decline over 1 year	-7.61%	-6.93%	-0.68%
Max Drawdown (3Y) Largest decline over 3 years	-17.50%	-18.45%	+0.95%
Max Drawdown (5Y) Largest decline over 5 years	-18.93%	-19.70%	+0.77%
Max Drawdown (10Y) Largest decline over 10 years	-46.80%	-43.18%	-3.62%
Current Drawdown Current decline from peak	-2.75%	-1.70%	-1.05%
Average Drawdown Average peak-to-trough decline	-4.97%	-8.33%	+3.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	1.83%	+0.29%

Volatility

ONEY vs. VOE - Volatility Comparison

SPDR Russell 1000 Yield Focus ETF (ONEY) and Vanguard Mid-Cap Value ETF (VOE) have volatilities of 3.54% and 3.39%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEY	VOE	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.54%	3.39%	+0.15%
Volatility (6M) Calculated over the trailing 6-month period	8.64%	8.35%	+0.29%
Volatility (1Y) Calculated over the trailing 1-year period	12.57%	11.63%	+0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.10%	16.03%	+0.07%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.87%	18.84%	+1.03%

ONEY vs. VOE - Expense Ratio Comparison

ONEY has a 0.20% expense ratio, which is higher than VOE's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ONEY vs. VOE - Dividend Comparison

ONEY's dividend yield for the trailing twelve months is around 2.83%, more than VOE's 1.87% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
VOE Vanguard Mid-Cap Value ETF	1.87%	2.10%	2.11%	2.27%	2.27%	1.78%	2.36%	2.05%	2.75%	1.86%	1.92%	2.05%

Frequently Asked Questions

Can I hold both ONEY and VOE in my portfolio?

With a correlation of 0.93, ONEY and VOE 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 VOE?

ONEY has higher volatility (3.54%) compared to VOE (3.39%). In terms of maximum drawdown, ONEY dropped -46.80% vs VOE's -61.50%.

Which ETF is better, ONEY or VOE?

On 10-year performance, ONEY leads with 11.98% vs 10.60% for VOE. On fees, VOE is cheaper at 0.05% per year. On volatility, VOE has been the lower-risk option at 3.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONEY or VOE?

Over the 10-year period, ONEY has performed better with a 11.98% return vs 10.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEY or VOE?

VOE is cheaper with a 0.05% expense ratio, compared with 0.20% for ONEY.

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

ONEY has the higher dividend yield at 2.83%, compared with 1.87% for VOE.

What is the main difference between ONEY and VOE?

ONEY tracks Russell 1000 Yield Focused Factor Index, while VOE tracks CRSP US Mid Cap Value Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.20% for ONEY and 0.05% for VOE.

Which has better risk-adjusted returns?

VOE currently has the higher Sharpe Ratio (2.05 vs 1.83), 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.