ONEY vs. XLU

Last updated Aug 4, 2026

ONEY (SPDR Russell 1000 Yield Focus ETF) and XLU (State Street Utilities 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 XLU is a Utilities Equities fund tracking the Utilities Select Sector Index. Both are passively managed. Over the past 10 years, ONEY returned 12.11%/yr vs 9.15%/yr for XLU. Their 0.39 correlation means their historical movements had little consistent relationship. ONEY charges 0.20%/yr vs 0.08%/yr for XLU.

Performance

ONEY vs. XLU - 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 Utilities Select Sector SPDR ETF (XLU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ONEY achieves a 19.04% return, which is significantly higher than XLU's 5.31% return. Over the past 10 years, ONEY has outperformed XLU with an annualized return of 12.11%, while XLU has yielded a comparatively lower 9.15% annualized return.

ONEY

• 1D: 0.61%
• 1M: 1.85%
• 6M: 12.55%
• YTD: 19.04%
• 1Y: 26.35%
• 3Y*: 14.12%
• 5Y*: 10.54%
• 10Y*: 12.11%
• ALL TIME*: 12.34%

XLU

• 1D: 0.02%
• 1M: -3.06%
• 6M: 5.48%
• YTD: 5.31%
• 1Y: 6.29%
• 3Y*: 14.91%
• 5Y*: 9.09%
• 10Y*: 9.15%
• ALL TIME*: 7.66%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ONEY SPDR Russell 1000 Yield Focus ETF	$3.68M	$5.35M	$5.20M
XLU State Street Utilities Select Sector SPDR ETF	$861.26M	$820.83M	$918.15M

ONEY vs. XLU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEY SPDR Russell 1000 Yield Focus ETF	19.04%	7.74%	11.63%	11.12%	-3.60%	37.11%	2.17%	27.45%	-8.71%	15.46%
XLU State Street Utilities Select Sector SPDR ETF	5.31%	16.03%	23.31%	-7.18%	1.44%	17.70%	0.51%	25.93%	3.94%	12.05%

Correlation

The correlation between ONEY and XLU is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.40
Correlation (3Y) Balances recent behavior with more history.	0.49
Correlation (5Y) Shows whether the relationship held over a longer period.	0.53
Correlation (10Y) Provides a long-term view across more market conditions.	0.41
Correlation (All Time) Calculated using the full available price history since Dec 3, 2015	0.39

The correlation between ONEY and XLU shifts across timeframes, from 0.39 (all time) to 0.53 (5 years), reflecting how their relationship changes across market environments.

ONEY vs. XLU - Sectors Allocation Comparison

Sectors	ONEY	XLU
Financial Services	17.8%	-
Consumer Defensive	11.2%	-
Real Estate	11.2%	-
Consumer Cyclical	11.1%	-
Utilities	10.8%	100.0%
Industrials	9.8%	-
Energy	8.0%	-
Technology	5.9%	-
Basic Materials	5.5%	-
Healthcare	5.1%	-
Communication Services	3.2%	-

Return for Risk

ONEY vs. XLU — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ONEY

ONEY Risk / Return Rank: 87
ONEY Sharpe Ratio Rank: 87
ONEY Sortino Ratio Rank: 89
ONEY Omega Ratio Rank: 85
ONEY Calmar Ratio Rank: 86
ONEY Martin Ratio Rank: 86

XLU

XLU Risk / Return Rank: 21
XLU Sharpe Ratio Rank: 21
XLU Sortino Ratio Rank: 20
XLU Omega Ratio Rank: 20
XLU Calmar Ratio Rank: 24
XLU Martin Ratio Rank: 21

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ONEY vs. XLU - 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 Utilities Select Sector SPDR ETF (XLU). 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	XLU	Difference
Sharpe ratio: Return per unit of total volatility	2.13	0.42	+1.71
Sortino ratio: Return per unit of downside risk	3.18	0.68	+2.51
Omega ratio: Gain probability vs. loss probability	1.38	1.08	+0.30
Calmar ratio: Return relative to maximum drawdown	3.48	0.69	+2.79
Martin ratio: Return relative to average drawdown	12.91	1.40	+11.51

ONEY vs. XLU - Sharpe Ratio Comparison

The current ONEY Sharpe Ratio is 2.13, which is higher than the XLU Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of ONEY and XLU, 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. XLU - Drawdown Comparison

The maximum ONEY drawdown since its inception was -46.80%, smaller than the maximum XLU drawdown of -51.98%. Use the drawdown chart below to compare losses from any high point for ONEY and XLU.

Drawdown Indicators

	ONEY	XLU	Difference
Max Drawdown Largest peak-to-trough decline	-46.80%	-51.98%	+5.18%
Max Drawdown (1Y) Largest decline over 1 year	-7.61%	-9.18%	+1.57%
Max Drawdown (3Y) Largest decline over 3 years	-17.50%	-13.15%	-4.35%
Max Drawdown (5Y) Largest decline over 5 years	-18.93%	-25.26%	+6.33%
Max Drawdown (10Y) Largest decline over 10 years	-46.80%	-36.07%	-10.73%
Current Drawdown Current decline from peak	-1.25%	-5.81%	+4.56%
Average Drawdown Average peak-to-trough decline	-4.93%	-10.19%	+5.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	4.49%	-2.44%

Volatility

ONEY vs. XLU - Volatility Comparison

SPDR Russell 1000 Yield Focus ETF (ONEY) has a higher volatility of 4.17% compared to State Street Utilities Select Sector SPDR ETF (XLU) at 3.95%. This indicates that ONEY's price experiences larger fluctuations and is considered to be riskier than XLU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEY	XLU	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.17%	3.95%	+0.22%
Volatility (6M) Calculated over the trailing 6-month period	8.88%	12.01%	-3.13%
Volatility (1Y) Calculated over the trailing 1-year period	12.44%	15.02%	-2.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.07%	17.34%	-1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.81%	19.30%	+0.51%

ONEY vs. XLU - Expense Ratio Comparison

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

ONEY's dividend yield for the trailing twelve months is around 2.76%, more than XLU's 2.69% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ONEY SPDR Russell 1000 Yield Focus ETF	2.76%	3.15%	3.18%	3.14%	3.17%	2.46%	2.74%	3.17%	3.72%	10.73%	6.31%	0.29%
XLU State Street Utilities Select Sector SPDR ETF	2.69%	2.71%	2.96%	3.39%	2.92%	2.79%	3.14%	2.95%	3.33%	3.33%	3.41%	3.67%

Frequently Asked Questions

Can I hold both ONEY and XLU in my portfolio?

ONEY and XLU have a correlation of 0.40, 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 XLU?

ONEY has higher volatility (4.17%) compared to XLU (3.95%). In terms of maximum drawdown, ONEY dropped -46.80% vs XLU's -51.98%.

Which ETF is better, ONEY or XLU?

On 10-year performance, ONEY leads with 12.11% vs 9.15% for XLU. On fees, XLU is cheaper at 0.08% per year. On volatility, XLU has been the lower-risk option at 3.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ONEY or XLU?

Over the 10-year period, ONEY has performed better with a 12.11% return vs 9.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ONEY or XLU?

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

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

ONEY has the higher dividend yield at 2.76%, compared with 2.69% for XLU.

What is the main difference between ONEY and XLU?

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

Which has better risk-adjusted returns?

ONEY currently has the higher Sharpe Ratio (2.13 vs 0.42), 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.