State Street SPDR Russell 1000 Low Volatility Focus ETF (ONEV) is a ETF from State Street Investment Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year ONEV returned +16.89% while SPY returned +19.50%. Year to date, ONEV is up 11.44% versus a gain of 9.93% for SPY.

Over three years, ONEV compounded at +11.69% per year against +19.33% for SPY; over five years the annualized figures are +8.67% and +12.82% respectively. Across the full 11-year window we track, ONEV has the edge at +9.79% annualized vs +8.74%. Past performance does not guarantee future results.

ONEV has been the more volatile fund, with annualized monthly volatility of 15.6% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.

The deepest peak-to-trough decline in our data was -40.2% for ONEV and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.

The two funds' monthly returns correlate at 0.89. They usually move together, but the gap leaves some room for diversification.

ONEV charges 0.20% per year while SPY charges 0.09%. On a $10,000 position that is $20 vs $9 annually, a gap of $11 per year that compounds over a long holding period. On income, ONEV currently yields 1.77% against 1.01% for SPY.