Global X Adaptive US Risk Management ETF (ONOF) is a ETF from Global X by mirae Asset and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year ONOF returned +15.19% while SPY returned +19.50%. Year to date, ONOF is up 6.29% versus a gain of 9.93% for SPY.

Over three years, ONOF compounded at +10.83% per year against +19.33% for SPY; over five years the annualized figures are +8.16% and +12.82% respectively. Across the full 6-year window we track, ONOF has the edge at +10.07% annualized vs +8.74%. Past performance does not guarantee future results.

SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.2% for ONOF. 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 -26.2% for ONOF 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 0.85. They usually move together, but the gap leaves some room for diversification.

ONOF charges 0.39% per year while SPY charges 0.09%. On a $10,000 position that is $39 vs $9 annually, a gap of $30 per year that compounds over a long holding period. On income, ONOF currently yields 1.23% against 1.01% for SPY.