ONEY vs. XLE

Last updated Jun 4, 2026

ONEY (SPDR Russell 1000 Yield Focus ETF) and XLE (State Street Energy Select Sector SPDR ETF) are both exchange-traded funds - ONEY is a Mid Cap Value Equities fund tracking the Russell 1000 Yield Focused Factor Index, while XLE is a Energy Equities fund tracking the Energy Select Sector Index. Both are passively managed. Over the past 10 years, ONEY returned 12.04%/yr vs 10.22%/yr for XLE. A 0.57 correlation means they provide meaningful diversification when combined. ONEY charges 0.20%/yr vs 0.08%/yr for XLE.

Performance

ONEY vs. XLE - Performance Comparison

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

Returns By Period

In the year-to-date period, ONEY achieves a 14.26% return, which is significantly lower than XLE's 32.17% return. Over the past 10 years, ONEY has outperformed XLE with an annualized return of 12.04%, while XLE has yielded a comparatively lower 10.22% annualized return.

ONEY

• 1D: -0.18%
• 1M: 3.52%
• YTD: 14.26%
• 6M: 14.38%
• 1Y: 23.42%
• 3Y*: 15.65%
• 5Y*: 8.74%
• 10Y*: 12.04%

XLE

• 1D: 1.29%
• 1M: -1.14%
• YTD: 32.17%
• 6M: 29.80%
• 1Y: 45.00%
• 3Y*: 17.46%
• 5Y*: 20.44%
• 10Y*: 10.22%

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

ONEY vs. XLE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEY SPDR Russell 1000 Yield Focus ETF	14.26%	7.74%	11.63%	11.12%	-3.60%	37.11%	2.17%	27.45%	-8.71%	15.46%
XLE State Street Energy Select Sector SPDR ETF	32.17%	7.88%	5.56%	-0.63%	64.32%	53.28%	-32.67%	11.74%	-18.22%	-0.89%

Correlation

The correlation between ONEY and XLE is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (10Y) Calculated over the trailing 10-year period	0.58
Correlation (All Time) Calculated using the full available price history since Dec 4, 2015	0.57

Over the past year, the correlation between ONEY and XLE has dropped to 0.34 - well below their long-term average of 0.57, suggesting their price drivers have been diverging.

ONEY vs. XLE - Sectors Allocation Comparison

Sectors	ONEY	XLE
Industrials	13.9%	-
Energy	13.2%	100.0%
Consumer Defensive	12.2%	-
Consumer Cyclical	11.8%	-
Utilities	10.6%	-
Financial Services	10.2%	-
Real Estate	9.7%	-
Basic Materials	8.2%	-
Technology	4.8%	-
Healthcare	3.8%	-
Communication Services	1.6%	-

Return for Risk

ONEY vs. XLE — Risk / Return Rank

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

ONEY

ONEY Risk / Return Rank: 58
ONEY Sharpe Ratio Rank: 55
ONEY Sortino Ratio Rank: 60
ONEY Omega Ratio Rank: 54
ONEY Calmar Ratio Rank: 62
ONEY Martin Ratio Rank: 62

XLE

XLE Risk / Return Rank: 63
XLE Sharpe Ratio Rank: 65
XLE Sortino Ratio Rank: 59
XLE Omega Ratio Rank: 56
XLE Calmar Ratio Rank: 73
XLE Martin Ratio Rank: 60

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. XLE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 1000 Yield Focus ETF (ONEY) and State Street Energy Select Sector SPDR ETF (XLE). 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.

	ONEY	XLE	Difference
Sharpe ratio: Return per unit of total volatility	1.90	2.21	-0.30
Sortino ratio: Return per unit of downside risk	2.86	2.84	+0.02
Omega ratio: Gain probability vs. loss probability	1.34	1.35	-0.02
Calmar ratio: Return relative to maximum drawdown	3.09	3.75	-0.66
Martin ratio: Return relative to average drawdown	11.15	10.92	+0.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ONEY vs. XLE - Sharpe Ratio Comparison

The current ONEY Sharpe Ratio is 1.90, which is comparable to the XLE Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of ONEY and XLE, 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

	ONEY	XLE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	2.21	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.79	-0.25
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.35	+0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.31	+0.31

Drawdowns

ONEY vs. XLE - Drawdown Comparison

The maximum ONEY drawdown since its inception was -46.80%, smaller than the maximum XLE drawdown of -71.26%. Use the drawdown chart below to compare losses from any high point for ONEY and XLE.

Drawdown Indicators

	ONEY	XLE	Difference
Max Drawdown Largest peak-to-trough decline	-46.80%	-71.26%	+24.46%
Max Drawdown (1Y) Largest decline over 1 year	-7.61%	-12.05%	+4.44%
Max Drawdown (3Y) Largest decline over 3 years	-17.50%	-20.14%	+2.64%
Max Drawdown (5Y) Largest decline over 5 years	-18.93%	-26.04%	+7.11%
Max Drawdown (10Y) Largest decline over 10 years	-46.80%	-66.81%	+20.01%
Current Drawdown Current decline from peak	-0.18%	-6.15%	+5.97%
Average Drawdown Average peak-to-trough decline	-4.98%	-17.98%	+13.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.11%	4.14%	-2.03%

Volatility

ONEY vs. XLE - Volatility Comparison

The current volatility for SPDR Russell 1000 Yield Focus ETF (ONEY) is 2.78%, while State Street Energy Select Sector SPDR ETF (XLE) has a volatility of 8.25%. This indicates that ONEY experiences smaller price fluctuations and is considered to be less risky than XLE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEY	XLE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.78%	8.25%	-5.47%
Volatility (6M) Calculated over the trailing 6-month period	8.42%	16.58%	-8.16%
Volatility (1Y) Calculated over the trailing 1-year period	12.39%	20.53%	-8.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.15%	26.02%	-9.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.87%	29.59%	-9.72%

ONEY vs. XLE - Expense Ratio Comparison

ONEY has a 0.20% expense ratio, which is higher than XLE's 0.08% 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. XLE - Dividend Comparison

ONEY's dividend yield for the trailing twelve months is around 2.81%, more than XLE's 2.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ONEY SPDR Russell 1000 Yield Focus ETF	2.81%	3.15%	3.18%	3.14%	3.17%	2.46%	2.74%	3.17%	3.72%	10.73%	6.31%	0.29%
XLE State Street Energy Select Sector SPDR ETF	2.54%	3.28%	3.36%	3.55%	3.68%	4.21%	5.62%	6.72%	3.54%	3.03%	2.26%	3.39%

Frequently Asked Questions

Can I hold both ONEY and XLE in my portfolio?

ONEY and XLE have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ONEY or XLE?

XLE has higher volatility (8.25%) compared to ONEY (2.78%). In terms of maximum drawdown, ONEY dropped -46.80% vs XLE's -71.26%.

Which ETF is better, ONEY or XLE?

On 10-year performance, ONEY leads with 12.04% vs 10.22% for XLE. On fees, XLE is cheaper at 0.08% per year. On volatility, ONEY has been the lower-risk option at 2.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONEY or XLE?

Over the 10-year period, ONEY has performed better with a 12.04% return vs 10.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEY or XLE?

XLE is cheaper with a 0.08% expense ratio, compared with 0.20% for ONEY.

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

ONEY has the higher dividend yield at 2.81%, compared with 2.54% for XLE.

What is the main difference between ONEY and XLE?

ONEY is categorized as Mid Cap Value Equities, while XLE is Energy Equities. ONEY tracks Russell 1000 Yield Focused Factor Index, while XLE tracks Energy Select Sector Index. Their fees differ too: 0.20% for ONEY and 0.08% for XLE.

Which has better risk-adjusted returns?

XLE currently has the higher Sharpe Ratio (2.21 vs 1.90), 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.