SPYA vs. ONEH
SPYA (Twin Oak Endure ETF) and ONEH (TrueShares Equity Hedge ETF) are both Equity Hedged funds. Both are actively managed. At a 0.13 correlation, their price movements are largely independent. SPYA charges 0.49%/yr vs 0.79%/yr for ONEH.
Performance
SPYA vs. ONEH - Performance Comparison
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Returns By Period
SPYA
- 1D
- 0.36%
- 1M
- 4.56%
- YTD
- 8.43%
- 6M
- 8.12%
- 1Y
- 20.03%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ONEH
- 1D
- 0.47%
- 1M
- 0.45%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SPYA vs. ONEH - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
SPYA Twin Oak Endure ETF | 7.71% |
ONEH TrueShares Equity Hedge ETF | -1.72% |
Correlation
The correlation between SPYA and ONEH is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jan 30, 2026 | 0.13 |
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Return for Risk
SPYA vs. ONEH — Risk / Return Rank
SPYA
ONEH
SPYA vs. ONEH - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Twin Oak Endure ETF (SPYA) and TrueShares Equity Hedge ETF (ONEH). 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.
| SPYA | ONEH | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.32 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.11 | — | — |
| Martin ratioReturn relative to average drawdown | 8.33 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPYA | ONEH | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.81 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.90 | -1.05 | +2.95 |
Drawdowns
SPYA vs. ONEH - Drawdown Comparison
The maximum SPYA drawdown since its inception was -9.51%, which is greater than ONEH's maximum drawdown of -3.55%. Use the drawdown chart below to compare losses from any high point for SPYA and ONEH.
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Drawdown Indicators
| SPYA | ONEH | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.51% | -3.55% | -5.96% |
Max Drawdown (1Y)Largest decline over 1 year | -9.51% | — | — |
Current DrawdownCurrent decline from peak | -0.31% | -1.72% | +1.41% |
Average DrawdownAverage peak-to-trough decline | -1.44% | -1.58% | +0.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.41% | — | — |
Volatility
SPYA vs. ONEH - Volatility Comparison
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Volatility by Period
| SPYA | ONEH | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 8.52% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 11.13% | 4.71% | +6.42% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.13% | 4.71% | +6.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.13% | 4.71% | +6.42% |
SPYA vs. ONEH - Expense Ratio Comparison
SPYA has a 0.49% expense ratio, which is lower than ONEH's 0.79% expense ratio.
Dividends
SPYA vs. ONEH - Dividend Comparison
SPYA's dividend yield for the trailing twelve months is around 0.35%, while ONEH has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
ONEH TrueShares Equity Hedge ETF | 0.00% | 0.00% |
SPYA Twin Oak Endure ETF | 0.35% | 0.37% |
Frequently Asked Questions
SPYA and ONEH have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, SPYA is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
SPYA is cheaper with a 0.49% expense ratio, compared with 0.79% for ONEH.
SPYA has the higher dividend yield at 0.35%, compared with 0.00% for ONEH.
They also come from different issuers: Twin Oak and TrueShares. Their fees differ too: 0.49% for SPYA and 0.79% for ONEH.
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