Launched on December 2, 2015, the SPDR Russell 1000 Yield Focus ETF (ONEY Quick QuoteONEY - Free Report) is a passively managed exchange traded fund designed to provide a broad exposure to the Large Cap Value segment of the US equity market.

The fund is sponsored by State Street Investment Management. It has amassed assets over $829.97 million, making it one of the average sized ETFs attempting to match the Large Cap Value segment of the US equity market.

Why Large Cap Value

Companies that find themselves in the large cap category typically have a market capitalization above $10 billion. Considered a more stable option, large cap companies boast more predictable cash flows and are less volatile than their mid and small cap counterparts.

Carrying lower than average price-to-earnings and price-to-book ratios, value stocks also have lower than average sales and earnings growth rates. Considering long-term performance, value stocks have outperformed growth stocks in almost all markets; however, they are more likely to underperform growth stocks in strong bull markets.

Costs

Since cheaper funds tend to produce better results than more expensive funds, assuming all other factors remain equal, it is important for investors to pay attention to an ETF's expense ratio.

Annual operating expenses for this ETF are 0.2%, making it one of the cheaper products in the space.

It has a 12-month trailing dividend yield of 3.05%.

Sector Exposure and Top Holdings

Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.

This ETF has heaviest allocation to the Consumer Staples sector -- about 13.5% of the portfolio. Consumer Discretionary and Industrials round out the top three.

Looking at individual holdings, United Parcel Service Cl B (UPS) accounts for about 2.04% of total assets, followed by Altria Group Inc (MO) and Eog Resources Inc (EOG).

The top 10 holdings account for about 13.52% of total assets under management.

Performance and Risk

ONEY seeks to match the performance of the Russell 1000 Yield Focused Factor Index before fees and expenses. The Russell 1000 Yield Focused Factor Index reflects the performance of a segment of large-capitalization U.S. equity securities demonstrating a combination of core factors high value, high quality, and low size characteristics, with a focus factor comprising high yield characteristics.

The ETF has added about 6.88% so far this year and is up roughly 5.11% in the last one year (as of 10/27/2025). In the past 52-week period, it has traded between $95.52 and $117.55.

The ETF has a beta of 0.96 and standard deviation of 15.52% for the trailing three-year period. With about 306 holdings, it effectively diversifies company-specific risk.

Alternatives

SPDR Russell 1000 Yield Focus ETF carries a Zacks ETF Rank of 3 (Hold), which is based on expected asset class return, expense ratio, and momentum, among other factors. Thus, ONEY is a reasonable option for those seeking exposure to the Style Box - Large Cap Value area of the market. Investors might also want to consider some other ETF options in the space.

The Schwab U.S. Dividend Equity ETF (SCHD) and the Vanguard Value ETF (VTV) track a similar index. While Schwab U.S. Dividend Equity ETF has $70.09 billion in assets, Vanguard Value ETF has $150.64 billion. SCHD has an expense ratio of 0.06% and VTV charges 0.04%.

Bottom-Line

While an excellent vehicle for long term investors, passively managed ETFs are a popular choice among institutional and retail investors due to their low costs, transparency, flexibility, and tax efficiency.

To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.