At a glance
ONEY charges 0.2% a year, below the 0.26% average of the 8 funds most like it (the 5th cheapest of 9). It has $726.5M in assets, the 3rd largest of that group; it paid 2.87% of its price in distributions over the past 12 months, quarterly. Over the past year it returned +19.8% with distributions reinvested (S&P 500: +11.5%), 3rd of those 9 funds; over three years it returned +19.1% a year. At its worst it fell 18.9% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 4 months after the low. Its ten largest positions make up 16.8% of the fund, out of 300 in all.
The short version
SPDR Russell 1000 Yield Focus ETF (ONEY) is a State Street index fund. It tracks the Russell 1000 Yield Focused Factor Index: about 300 mostly U.S. large-company stocks, tilted toward companies with higher dividends, cheaper valuations, stronger finances and smaller size. It charges 0.20% a year, below the 0.26% average of similar funds. Its trailing 12-month yield was 2.87% as of October 27, 2026, paid quarterly.
Price history
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ONEY +19.8% 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 | |
|---|---|---|---|---|---|---|
| ONEY official prospectus, to Dec 31, 2025 | — | +7.64% | — | +12.04% | +11.56% | — |
| ONEY price data to Oct 27, 2026 | +19.4% | +19.8% | +19.1% | +10.0% | — | +17.1% |
- Over the year to Oct 27, 2026, ONEY returned +19.8%, 3rd of 9 among similar funds.
- Its 5-year annualized return was +10.0%.
- Its worst full calendar year was 2022 (-3.6%); its best was 2021 (+37.1%).
- The deepest fall in its price history was 18.9% (Apr 20, 2022 to Sep 30, 2022), recovered by Feb 2, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +19.4% | — |
| 2025 | +7.7% | +7.64% |
| 2024 | +11.6% | +11.73% |
| 2023 | +11.1% | +11.06% |
| 2022 | -3.6% | -3.50% |
| 2021 | +37.1% | +36.98% |
| 2020 | — | +2.07% |
| 2019 | — | +26.93% |
| 2018 | — | -7.98% |
| 2017 | — | +15.19% |
| 2016 | — | +23.11% |
| 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 13.4% over that stretch · deepest drop along the way 18.9%, back to its old high 4.1 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $2.8400 | |
| 2025 | $3.5700 | +3.2% |
| 2024 | $3.4600 | +9.8% |
| 2023 | $3.1500 | +6.1% |
| 2022 | $2.9700 | +20.2% |
| 2021 | $2.4700 |
What's inside
As of Jun 30, 2026, the fund held 300 securities; the ten largest made up 16.83% of assets.
| Holding | Weight | |
|---|---|---|
| Progressive Corp | 3.74% | |
| Comcast Corp | 2.25% | |
| Allstate Corp | 1.80% | |
| United Parcel Service Inc | 1.51% | |
| Cigna Group | 1.46% | |
| ONEOK Inc | 1.37% | |
| EOG Resources Inc | 1.35% | |
| Anglogold Ashanti Plc | 1.21% | |
| Accenture PLC | 1.09% | |
| Altria Group Inc | 1.05% | |
| Simon Property Group Inc | 1.00% | |
| Target Corp | 0.97% | |
| Archer-Daniels-Midland Co | 0.95% | |
| Kroger Co | 0.91% | |
| Zoetis Inc | 0.89% |
By country
United States 93.36%Ireland 2.66%United Kingdom 1.49%Bermuda 0.85%Netherlands 0.62%By asset type
Stocks 99.54%By sector
Sectors of the companies held, for the 47.3% 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 $178.8M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +5.48%, +1.04%, +0.79%.
How it works
ONEY tracks the Russell 1000 Yield Focused Factor Index, built by Frank Russell Company. It starts from the Russell 1000, which covers the large-company part of the U.S. stock market. Each company is scored on four traits. Yield is its trailing 12-month dividend yield. Value uses cash flow yield, earnings yield and sales relative to price. Quality uses return on assets, change in asset turnover, accruals and debt levels. Size gives smaller companies higher scores. Yield gets the most emphasis. The scores are multiplied by each stock's free-float market value, meaning the value of shares available to trade. So bigger companies still get bigger weights, just tilted toward these traits.
Limits keep the tilts in check. No stock can weigh more than 20 times its Russell 1000 weight. Each industry has to stay within a set range around its Russell 1000 weight. Stocks below a minimum weight are dropped. The index rebalances once a year, in June. It held about 299 stocks as of July 31, 2026.
State Street's adviser, SSGA Funds Management, may buy every stock in the index or a representative sample. Either way, it keeps at least 80% of assets in index securities. It may use stock index futures to manage cash. As of June 30, 2026, it held a tiny S&P 500 futures position. The fund uses no leverage and no options. The prospectus reports portfolio turnover of 37%.
What it really costs
- ONEY charges 0.2% a year, versus an average of 0.26% for the similar funds below (5th 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 |
|---|---|---|---|---|
| ONEY | $20 | $64 | $113 | $255 |
In a retirement portfolio
Its index gives the most weight to higher-dividend stocks, and the fund's trailing yield was 2.87% as of October 27, 2026, paid quarterly.
ONEY could provide quarterly dividends from about 300 stocks, with a trailing 12-month yield of 2.87% as of October 27, 2026. It is still fully invested in stocks. It launched in December 2015, so it has no 2008 record. Its worst quarter was a 36.21% loss in early 2020, though it ended that year up 2.07%. In 2022 it fell 18.9% from April 20 to September 30. That is its deepest drop since price data begins in June 2020, and it recovered by February 2, 2023. Its worst calendar year was 2018, down 7.98%. Someone drawing income in a slump may have to sell shares at a loss, and companies can cut dividends. Annual costs are 0.20%, below the 0.26% average of similar funds. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting quarterly dividends from about 300 large U.S. companies, with a 2.87% trailing yield as of October 27, 2026.
- People seeking a dividend, value and quality tilt instead of plain market weights; top holdings include Progressive, Comcast and Allstate.
- Cost-conscious holders: the 0.20% expense ratio is below the 0.26% peer average, about $20 a year per $10,000.
Look elsewhere if
- Investors who want the biggest Russell 1000 companies at full market weight; this index favors dividend payers and smaller large companies instead.
- Those chasing the lowest cost among similar factor funds: JVAL charges 0.12%, DEUS 0.17% and JPUS 0.18%.
- Anyone uneasy with heavy financial and industrial exposure, or with stock-like losses such as the 36.21% drop in early 2020.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| ONEY this fund | — | 0.2% | $726.5M | +19.8% | +19.1% |
| ONEV SPDR Russell 1000 Low Volatility Focus ETF | 56% | 0.2% | $341.9M | +13.4% | +16.5% |
| JPME JPMorgan Diversified Return U.S. Mid Cap Eq… | 41% | 0.24% | $464.7M | +16.8% | +18.5% |
| DEUS Xtrackers Russell US Multifactor ETF | 38% | 0.17% | $301.1M | +16.6% | +19.6% |
| JPUS JPMorgan Diversified Return Use Equity | 36% | 0.18% | $457.6M | +16.3% | +19.0% |
| IWS iShares Russell Mid-Cap Value ETF | 36% | 0.23% | $15.65B | +25.6% | +20.7% |
| AVMC Avantis U.S. Mid Cap Equity ETF | 30% | 0.18% | $495.9M | +13.5% | — |
| JVAL JPMorgan U.S. Value Factor ETF US Value Fac… | 29% | 0.12% | $833.5M | +23.0% | +24.3% |
Questions investors ask
Does ONEY pay monthly dividends?
No. ONEY pays dividends quarterly, not monthly. Over the 12 months to October 27, 2026, it paid $3.81 per share, a trailing yield of 2.87%. Payments change with the dividends of the roughly 300 stocks it holds. The prospectus warns that dividend-paying stocks can fall out of favor, and that companies can change their dividend policies, so payouts are not fixed.
What is ONEY's expense ratio?
ONEY's expense ratio is 0.20% a year, all of it a management fee, with no fee waiver. That is below the 0.26% average of the similar funds it was compared with, and fifth-lowest of nine. In the SEC's standard example ($10,000 invested, 5% annual return), total costs come to about $20 after one year, $64 after three, $113 after five and $255 after ten.
What's the difference between ONEY and ONEV?
Both are State Street funds that tilt Russell 1000 stocks by factors, and both charge 0.20%. ONEY emphasizes dividend yield, while ONEV, its sister fund, emphasizes low volatility. Their holdings overlap by about 56%. As of October 27, 2026, ONEY returned 19.8% over one year and 19.1% a year over three, against 13.4% and 16.5% for ONEV. ONEV had about $342 million in net assets as of June 30, 2026, versus ONEY's $726 million.
Is ONEY good for retirement income?
It may suit retirees who want quarterly dividends from a broad stock fund, but its income is moderate and its price moves like stocks. The trailing yield was 2.87% as of October 27, 2026. The fund lost 36.21% in the first quarter of 2020 and fell 18.9% in 2022 before recovering by February 2023. Selling shares during drops like these can lock in losses, so the rest of the portfolio matters.
How has ONEY performed over the long term?
According to its prospectus, ONEY returned an average of 11.56% a year over the 10 years to December 31, 2025, and 12.04% a year over five years. It returned 7.64% in 2025. Calendar-year results ranged from a 36.98% gain in 2021 to a 7.98% loss in 2018. Price data shows a 19.4% gain from the start of 2026 through October 27. Past returns don't predict future results.