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Is State Street SPDR Russell 1000 Yield Focus ETF (ONEY) a Strong ETF Right Now?
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The State Street SPDR Russell 1000 Yield Focus ETF (ONEY - Free Report) was launched on 12/02/2015, and is a smart beta exchange traded fund designed to offer broad exposure to the Style Box - Large Cap Value category of the market.
What Are Smart Beta ETFs?
The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.
A good option for investors who believe in market efficiency, market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns.
There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
Methodologies like equal-weighting, one of the simplest options out there, fundamental weighting, and volatility/momentum based weighting are all choices offered to investors in this space, but not all of them can deliver superior returns.
Fund Sponsor & Index
ONEY is managed by State Street Investment Management, and this fund has amassed over $688.18 million, which makes it one of the average sized ETFs in the Style Box - Large Cap Value. Before fees and expenses, ONEY seeks to match the performance of the Russell 1000 Yield Focused Factor Index.
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.
Cost & Other Expenses
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive cousins if all other fundamentals are the same.
Annual operating expenses for this ETF are 0.20%, making it one of the cheaper products in the space.
ONEY's 12-month trailing dividend yield is 2.82%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
For ONEY, it has heaviest allocation in the Industrials sector --about 13.9% of the portfolio --while Energy and Consumer Staples round out the top three.
When you look at individual holdings, United Parcel Service Cl B (UPS) accounts for about 2.29% of the fund's total assets, followed by Hewlett Packard Enterprise (HPE) and Eog Resources Inc (EOG).
Its top 10 holdings account for approximately 16.88% of ONEY's total assets under management.
Performance and Risk
So far this year, ONEY has added roughly 16.13%, and is up about 17.87% in the last one year (as of 07/24/2026). During this past 52-week period, the fund has traded between $108.75 and $131.85.
The ETF has a beta of 0.83 and standard deviation of 14.17% for the trailing three-year period. With about 300 holdings, it effectively diversifies company-specific risk .
Alternatives
State Street SPDR Russell 1000 Yield Focus ETF is a reasonable option for investors seeking to outperform the Style Box - Large Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
Schwab U.S. Dividend Equity ETF (SCHD) tracks Dow Jones U.S. Dividend 100 Index and the Vanguard Value Index Fund ETF Shares (VTV) tracks CRSP U.S. Large Cap Value Index. Schwab U.S. Dividend Equity ETF has $100.43 billion in assets, Vanguard Value Index Fund ETF Shares has $187.38 billion. SCHD has an expense ratio of 0.06% and VTV changes 0.03%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Value
Bottom Line
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.
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Is State Street SPDR Russell 1000 Yield Focus ETF (ONEY) a Strong ETF Right Now?
The State Street SPDR Russell 1000 Yield Focus ETF (ONEY - Free Report) was launched on 12/02/2015, and is a smart beta exchange traded fund designed to offer broad exposure to the Style Box - Large Cap Value category of the market.
What Are Smart Beta ETFs?
The ETF industry has long been dominated by products based on market cap weighted indexes, a strategy created to reflect the market or a particular market segment.
A good option for investors who believe in market efficiency, market cap weighted indexes offer a low-cost, convenient, and transparent way of replicating market returns.
There are some investors, though, who think it's possible to beat the market with great stock selection; this group likely invests in another class of funds known as smart beta, which track non-cap weighted strategies.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
Methodologies like equal-weighting, one of the simplest options out there, fundamental weighting, and volatility/momentum based weighting are all choices offered to investors in this space, but not all of them can deliver superior returns.
Fund Sponsor & Index
ONEY is managed by State Street Investment Management, and this fund has amassed over $688.18 million, which makes it one of the average sized ETFs in the Style Box - Large Cap Value. Before fees and expenses, ONEY seeks to match the performance of the Russell 1000 Yield Focused Factor Index.
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.
Cost & Other Expenses
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive cousins if all other fundamentals are the same.
Annual operating expenses for this ETF are 0.20%, making it one of the cheaper products in the space.
ONEY's 12-month trailing dividend yield is 2.82%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure which minimizes single stock risk, it is still important to look into a fund's holdings before investing. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
For ONEY, it has heaviest allocation in the Industrials sector --about 13.9% of the portfolio --while Energy and Consumer Staples round out the top three.
When you look at individual holdings, United Parcel Service Cl B (UPS) accounts for about 2.29% of the fund's total assets, followed by Hewlett Packard Enterprise (HPE) and Eog Resources Inc (EOG).
Its top 10 holdings account for approximately 16.88% of ONEY's total assets under management.
Performance and Risk
So far this year, ONEY has added roughly 16.13%, and is up about 17.87% in the last one year (as of 07/24/2026). During this past 52-week period, the fund has traded between $108.75 and $131.85.
The ETF has a beta of 0.83 and standard deviation of 14.17% for the trailing three-year period. With about 300 holdings, it effectively diversifies company-specific risk .
Alternatives
State Street SPDR Russell 1000 Yield Focus ETF is a reasonable option for investors seeking to outperform the Style Box - Large Cap Value segment of the market. However, there are other ETFs in the space which investors could consider.
Schwab U.S. Dividend Equity ETF (SCHD) tracks Dow Jones U.S. Dividend 100 Index and the Vanguard Value Index Fund ETF Shares (VTV) tracks CRSP U.S. Large Cap Value Index. Schwab U.S. Dividend Equity ETF has $100.43 billion in assets, Vanguard Value Index Fund ETF Shares has $187.38 billion. SCHD has an expense ratio of 0.06% and VTV changes 0.03%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Value
Bottom Line
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.