ONEY vs. XMHQ

Last updated Apr 1, 2026

Compare and contrast key facts about SPDR Russell 1000 Yield Focus ETF (ONEY) and Invesco S&P MidCap Quality ETF (XMHQ).

ONEY and XMHQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ONEY is a passively managed fund by State Street that tracks the performance of the Russell 1000 Yield Focused Factor Index. It was launched on Dec 2, 2015. XMHQ is a passively managed fund by Invesco that tracks the performance of the S&P MidCap 400 Index. It was launched on Dec 1, 2006. Both ONEY and XMHQ are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

ONEY vs. XMHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Russell 1000 Yield Focus ETF (ONEY) and Invesco S&P MidCap Quality ETF (XMHQ). The values are adjusted to include any dividend payments, if applicable.

ONEY vs. XMHQ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ONEY SPDR Russell 1000 Yield Focus ETF	6.46%	7.74%	11.63%	11.12%	-3.60%	37.11%	2.17%	27.45%	-8.71%	15.46%
XMHQ Invesco S&P MidCap Quality ETF	1.08%	4.71%	16.79%	29.51%	-12.42%	20.98%	26.61%	27.18%	-9.08%	15.64%

Returns By Period

In the year-to-date period, ONEY achieves a 6.46% return, which is significantly higher than XMHQ's 1.08% return. Over the past 10 years, ONEY has underperformed XMHQ with an annualized return of 11.41%, while XMHQ has yielded a comparatively higher 12.42% annualized return.

ONEY

• 1D: 1.31%
• 1M: -4.15%
• YTD: 6.46%
• 6M: 7.75%
• 1Y: 13.49%
• 3Y*: 11.93%
• 5Y*: 9.12%
• 10Y*: 11.41%

XMHQ

• 1D: 2.79%
• 1M: -4.48%
• YTD: 1.08%
• 6M: -1.19%
• 1Y: 13.62%
• 3Y*: 14.52%
• 5Y*: 8.07%
• 10Y*: 12.42%

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

ONEY vs. XMHQ - Expense Ratio Comparison

ONEY has a 0.20% expense ratio, which is lower than XMHQ's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

XMHQ

Invesco S&P MidCap Quality ETF

ONEY

SPDR Russell 1000 Yield Focus ETF

Return for Risk

ONEY vs. XMHQ — Risk / Return Rank

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

ONEY

ONEY Risk / Return Rank: 46
ONEY Sharpe Ratio Rank: 45
ONEY Sortino Ratio Rank: 47
ONEY Omega Ratio Rank: 44
ONEY Calmar Ratio Rank: 45
ONEY Martin Ratio Rank: 50

XMHQ

XMHQ Risk / Return Rank: 42
XMHQ Sharpe Ratio Rank: 39
XMHQ Sortino Ratio Rank: 43
XMHQ Omega Ratio Rank: 38
XMHQ Calmar Ratio Rank: 46
XMHQ Martin Ratio Rank: 44

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. XMHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Russell 1000 Yield Focus ETF (ONEY) and Invesco S&P MidCap Quality ETF (XMHQ). 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	XMHQ	Difference
Sharpe ratio Return per unit of total volatility	0.79	0.68	+0.12
Sortino ratio Return per unit of downside risk	1.23	1.14	+0.09
Omega ratio Gain probability vs. loss probability	1.17	1.14	+0.02
Calmar ratio Return relative to maximum drawdown	1.11	1.09	+0.02
Martin ratio Return relative to average drawdown	4.67	3.97	+0.70
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. XMHQ - Sharpe Ratio Comparison

The current ONEY Sharpe Ratio is 0.79, which is comparable to the XMHQ Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of ONEY and XMHQ, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ONEY	XMHQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.79	0.68	+0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.56	0.39	+0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	0.60	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.43	+0.15

Correlation

The correlation between ONEY and XMHQ is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

ONEY vs. XMHQ - Dividend Comparison

ONEY's dividend yield for the trailing twelve months is around 3.02%, more than XMHQ's 0.60% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ONEY SPDR Russell 1000 Yield Focus ETF	3.02%	3.15%	3.18%	3.14%	3.17%	2.46%	2.74%	3.17%	3.72%	10.73%	6.31%	0.29%
XMHQ Invesco S&P MidCap Quality ETF	0.60%	0.64%	5.20%	0.73%	1.72%	1.00%	1.12%	1.22%	1.59%	1.06%	1.63%	1.34%

Drawdowns

ONEY vs. XMHQ - Drawdown Comparison

The maximum ONEY drawdown since its inception was -46.80%, smaller than the maximum XMHQ drawdown of -58.19%. Use the drawdown chart below to compare losses from any high point for ONEY and XMHQ.

Drawdown Indicators

	ONEY	XMHQ	Difference
Max Drawdown Largest peak-to-trough decline	-46.80%	-58.19%	+11.39%
Max Drawdown (1Y) Largest decline over 1 year	-13.15%	-12.54%	-0.61%
Max Drawdown (5Y) Largest decline over 5 years	-18.93%	-25.47%	+6.54%
Max Drawdown (10Y) Largest decline over 10 years	-46.80%	-36.90%	-9.90%
Current Drawdown Current decline from peak	-4.51%	-5.36%	+0.85%
Average Drawdown Average peak-to-trough decline	-5.05%	-9.35%	+4.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.13%	3.43%	-0.30%

Volatility

ONEY vs. XMHQ - Volatility Comparison

The current volatility for SPDR Russell 1000 Yield Focus ETF (ONEY) is 3.85%, while Invesco S&P MidCap Quality ETF (XMHQ) has a volatility of 6.03%. This indicates that ONEY experiences smaller price fluctuations and is considered to be less risky than XMHQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ONEY	XMHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.85%	6.03%	-2.18%
Volatility (6M) Calculated over the trailing 6-month period	9.25%	11.37%	-2.12%
Volatility (1Y) Calculated over the trailing 1-year period	17.16%	20.26%	-3.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.31%	20.76%	-4.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.87%	20.69%	-0.82%