SPDR Russell 1000 Momentum Focus ETF

SPDR Russell 1000 Momentum Focus ETF (ONEO), from State Street, tracks the Russell 1000 Momentum Focused Factor Index: about 930 large US stocks tilted toward recent price winners, plus cheaper, higher-quality and smaller companies. That spreads money widely: its 10 largest holdings were just 5.39% of assets as of June 30, 2026. It charges 0.20% a year, close to the 0.21% average of similar funds, but held only about $29 million at that date.

• Over the year to Oct 27, 2026, ONEO returned +20.3%, 1st of 9 among similar funds.
• Its 5-year annualized return was +10.2%.
• Its worst full calendar year was 2022 (-12.0%); its best was 2021 (+26.7%).
• The deepest fall in its price history was 22.4% (Nov 16, 2021 to Sep 26, 2022), recovered by Dec 14, 2023.

As of Jun 30, 2026, the fund held 934 securities; the ten largest made up 5.39% of assets.

• Over the three months to Jun 30, 2026, investors withdrew a net $32K (creations minus redemptions, per the N-PORT report).
• Monthly total returns reported for that quarter: +7.97%, +4.05%, +2.47%.

ONEO aims to match the Russell 1000 Momentum Focused Factor Index. Frank Russell Company builds it from the Russell 1000, an index of large US companies weighted by market value. Each company is scored on several traits, or “factors”: momentum (total return over the 11 months before each rebalancing month), value (cash flow, earnings and sales relative to price), quality (return on assets, debt and similar measures) and size, which favors smaller companies. Momentum gets extra emphasis.

Those scores are multiplied by each company's Russell 1000 weight, tilting money toward high scorers; companies that fall below a minimum weight are dropped. No stock can exceed 2000% of its Russell 1000 weight, and each industry must stay within a set band around its Russell 1000 weight. The index rebalances twice a year, in June and December. Industrial companies made up a significant portion of the fund as of August 31, 2026.

State Street's adviser, SSGA Funds Management, may use “sampling,” owning only part of the index, but it held 934 stocks as of June 30, 2026, close to the full index. At least 80% of net assets must be in index stocks; futures contracts (deals to trade later at a set price) may help manage cash flows. Portfolio turnover, roughly the share of holdings replaced in a year, was 49%.

• ONEO charges 0.2% a year, versus an average of 0.21% for the similar funds below (6th of 9, cheapest first).
• Using the prospectus's standard example, $10,000 invested would cost about $20 in the first year and $255 over 10 years (assuming a 5% annual return).

It spreads money across hundreds of large US stocks tilted toward momentum, value, quality and smaller size, which could complement a fund weighted toward the biggest companies.

ONEO is all stocks: a different mix of US companies, not protection. Launched in 2015, it has no 2008 record. In the 2020 COVID crash, it lost 29.13% in the first quarter, then gained 24.58% the next. Its deepest drop since mid-2020 was 22.4%, from November 2021 to September 2022; recovery took another 14.6 months. It lost about 12% in both 2018 and 2022, its worst calendar years. Withdrawals in such years mean cashing out shares at lower prices.

Income is modest: a 1.23% yield over the year to October 27, 2026, paid quarterly. It charges 0.20% a year, in line with similar funds; the SEC's standard $10,000 example shows $255 in costs over 10 years. Its small size, about $29 million as of June 30, 2026, carries some risk of closure. Past results don't predict the future; a plan should weigh the whole portfolio, not one fund.

Matched by holdings overlap from the latest N-PORT reports.