At a glance
ONEV charges 0.2% a year, below the 0.22% average of the 8 funds most like it (the 4th cheapest of 9). It has $341.9M in assets, the 6th largest of that group; it paid 1.89% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +13.4% with distributions reinvested (S&P 500: +11.5%), 8th of those 9 funds; over three years it returned +16.5% a year. At its worst it fell 18.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 10 months after the low. Its ten largest positions make up 9.3% of the fund, out of 448 in all.
The short version
SPDR Russell 1000 Low Volatility Focus ETF (ONEV), from State Street, is an index fund holding about 448 large-company US stocks. They are picked and weighted for low price swings, plus value, quality and smaller size. Its largest positions are insurers such as Allstate and Progressive. It charges 0.20% a year, below the 0.22% average for similar funds. It ranked last of eight similar funds on three-year returns as of October 27, 2026.
Price history
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ONEV +13.4% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| ONEV official prospectus, to Dec 31, 2025 | — | +8.01% | — | +10.16% | +11.34% | — |
| ONEV price data to Oct 27, 2026 | +13.2% | +13.4% | +16.5% | +8.7% | — | +13.4% |
- Over the year to Oct 27, 2026, ONEV returned +13.4%, 8th of 9 among similar funds.
- Its 5-year annualized return was +8.7%.
- Its worst full calendar year was 2022 (-8.2%); its best was 2021 (+29.2%).
- The deepest fall in its price history was 18.5% (Dec 29, 2021 to Sep 30, 2022), recovered by Jul 19, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +13.2% | — |
| 2025 | +8.1% | +8.01% |
| 2024 | +11.8% | +11.82% |
| 2023 | +13.3% | +13.30% |
| 2022 | -8.2% | -8.11% |
| 2021 | +29.2% | +29.05% |
| 2020 | — | +6.39% |
| 2019 | — | +30.61% |
| 2018 | — | -5.00% |
| 2017 | — | +17.89% |
| 2016 | — | +15.95% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Not in the price data, which starts Jun 2, 2020 |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 17.1% over that stretch · deepest drop along the way 18.4%, back to its old high 9.6 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $2.0800 | |
| 2025 | $2.4200 | +2.1% |
| 2024 | $2.3700 | +15.6% |
| 2023 | $2.0500 | +10.8% |
| 2022 | $1.8500 | +12.1% |
| 2021 | $1.6500 |
What's inside
As of Jun 30, 2026, the fund held 448 securities; the ten largest made up 9.26% of assets.
| Holding | Weight | |
|---|---|---|
| Allstate Corp | 1.46% | |
| Progressive Corp | 1.23% | |
| McKesson Corp | 0.95% | |
| Arch Capital Group Ltd | 0.92% | |
| Cigna Group | 0.87% | |
| Cincinnati Financial Corp | 0.82% | |
| Travelers Cos Inc | 0.79% | |
| Hartford Insurance Group Inc | 0.75% | |
| Comcast Corp | 0.74% | |
| Kroger Co | 0.74% | |
| T Rowe Price Group Inc | 0.70% | |
| Simon Property Group Inc | 0.69% | |
| Elevance Health Inc | 0.64% | |
| Marsh & McLennan Cos Inc | 0.63% | |
| Archer-Daniels-Midland Co | 0.60% |
By country
United States 93.16%Bermuda 2.4%Ireland 2.11%Canada 0.62%United Kingdom 0.41%By asset type
Stocks 99.7%By sector
Sectors of the companies held, for the 42.3% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2026. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2026, investors withdrew a net $211.7M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +4.02%, +0.56%, +2.41%.
How it works
ONEV tracks the Russell 1000 Low Volatility Focused Factor Index, built by Frank Russell Company. The index starts with the Russell 1000, which covers the large-company part of the US stock market. Each stock gets scores for value (cash flow yield, earnings yield and sales relative to price), quality (return on assets, change in asset turnover, accruals and debt), size and, with extra emphasis, volatility. Volatility here means how much a stock's weekly returns have swung over the past five years. The size score favors the smaller companies in the index.
Each stock's scores are multiplied by its market-value weight in the Russell 1000, so large firms with strong scores get the most room. No stock can exceed 2,000% of its Russell 1000 weight. Each industry must stay within a band around its weight in the parent index. Stocks that fall below a minimum weight are dropped. The index is rebalanced once a year, in June.
State Street's adviser, SSGA Funds Management, uses sampling. That means it may hold only some of the index stocks, though the fund held about 448 as of June 30, 2026. At least 80% of assets must be in index stocks. The fund may use stock index futures to manage cash, and these were a tiny slice of assets on that date. Portfolio turnover was 22%.
What it really costs
- ONEV charges 0.2% a year, versus an average of 0.22% for the similar funds below (4th 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).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| ONEV | $20 | $64 | $113 | $255 |
In a retirement portfolio
Its low-volatility tilt has meant smaller swings than the broad market. Its one-year beta, a measure of how closely it moves with the market, was 0.37 as of October 27, 2026, though it still fell sharply in early 2020.
ONEV may add steadier stock exposure, but it is still an all-stock fund. It launched in December 2015, so it has no 2008 record. Its worst quarter was a 27.55% drop in early 2020, during the COVID crash. In the 2022 bear market it fell 18.4% from peak to trough. It then took about 9.6 months to recover, by July 2023. Someone selling shares to cover spending in a year like 2020 would have locked in real losses. The trailing 12-month yield was 1.89% as of October 27, 2026, paid quarterly, so it is a modest income source. It costs 0.20% a year. In the SEC's standard example, that comes to $255 over 10 years on $10,000. Past results don't predict future ones, and a plan should weigh the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting large US companies tilted toward steadier, cheaper, higher-quality firms, at 0.20% a year versus a 0.22% average for similar funds.
- People comfortable with heavy insurance exposure. Allstate, Progressive, Arch Capital, Travelers and Cincinnati Financial were top holdings as of June 30, 2026.
- Holders who value smaller swings. One-year volatility was 11.5%, and its deepest drop since mid-2020 was 18.5%, as of October 27, 2026.
Look elsewhere if
- Investors chasing returns. ONEV ranked last of eight similar funds over three years, at 16.5% a year versus 19.6% for DEUS, as of October 27, 2026.
- Those seeking meaningful income. The trailing 12-month yield was 1.89% as of October 27, 2026, paid quarterly.
- Anyone expecting low volatility to always cushion crashes. The fund lost 27.55% in early 2020, and low-volatility stocks tend to lag strong rallies.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| ONEV this fund | — | 0.2% | $341.9M | +13.4% | +16.5% |
| DEUS Xtrackers Russell US Multifactor ETF | 60% | 0.17% | $301.1M | +16.6% | +19.6% |
| ONEY SPDR Russell 1000 Yield Focus ETF | 56% | 0.2% | $726.5M | +19.8% | +19.1% |
| IWS iShares Russell Mid-Cap Value ETF | 50% | 0.23% | $15.65B | +25.6% | +20.7% |
| ONEO SPDR Russell 1000 Momentum Focus ETF | 47% | 0.2% | $29.0M | +20.3% | +21.9% |
| JPME JPMorgan Diversified Return U.S. Mid Cap Eq… | 45% | 0.24% | $464.7M | +16.8% | +18.5% |
| JHMM John Hancock Multifactor Mid Cap ETF | 44% | 0.42% | $5.81B | +13.2% | +19.7% |
| CVMC Calvert US Mid-Cap Core Responsible Index E… | 43% | 0.15% | $102.8M | +18.6% | +21.1% |
Questions investors ask
Is ONEV good for retirement?
ONEV may suit retirees who want US large-company stocks that lean toward steadier share prices, but it is still a stock fund that can lose money. Its one-year beta was 0.37 as of October 27, 2026, meaning it moved much less than the broad market. It pays quarterly dividends, with a trailing 12-month yield of 1.89%. On the downside, it lost 27.55% in the first quarter of 2020 and fell 18.5% from December 2021 to September 2022, recovering by July 2023.
What stocks does ONEV hold?
ONEV holds about 448 stocks drawn from the Russell 1000 Index of large US companies. Its index, the Russell 1000 Low Volatility Focused Factor Index from Frank Russell Company, favors companies that look cheap, financially sturdy, relatively small and less volatile, meaning their share prices swing less. The index is rebalanced each June. As of June 30, 2026, the largest holdings were Allstate (1.46%), Progressive (1.23%), McKesson (0.95%), Arch Capital Group (0.92%) and Cigna (0.87%). Insurers feature heavily, and the top 10 made up just 9.26% of assets.
How has ONEV performed over the long term?
Through December 31, 2025, ONEV returned an average of 11.34% a year over 10 years, 10.16% a year over five years and 8.01% over one year, according to its prospectus. Based on market prices, it returned 13.4% in the year to October 27, 2026. The trade-off is that low-volatility stocks tend to lag when markets rise quickly. Over the three years to that date, ONEV's 16.5% annual return trailed all seven similar funds with a three-year record.
Does ONEV pay monthly dividends?
No. ONEV pays dividends quarterly, not monthly. Over the 12 months to October 27, 2026, it paid $2.80 per share, a trailing yield of 1.89%. That figure is the past year's payouts divided by the share price. The income comes from the dividends of the stocks the fund owns, so payments can rise or fall. For retirees focused on income, State Street's sister fund, the SPDR Russell 1000 Yield Focus ETF (ONEY), is worth comparing.
What's the difference between ONEV and DEUS?
The main difference is ONEV's specific focus on low volatility. Both are Russell-based multifactor ETFs, meaning they favor stocks with certain traits, and about 60% of their holdings overlap. DEUS, the Xtrackers Russell US Multifactor ETF, costs 0.17% a year versus 0.20% for ONEV. It also returned more: 19.6% a year over three years versus 16.5% for ONEV, as of October 27, 2026. Under the SEC's standard example, which assumes 5% yearly returns, ONEV's costs on $10,000 total about $255 over 10 years.