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SPDR Russell 1000 Low Volatility Focus ETF
ETF
ONEV
Payout Change
Pending
Price as of:
$116.62
-0.36
-0.31%
primary theme
U.S. Mid-Cap Value Equity
ONEV (ETF)
SPDR Russell 1000 Low Volatility Focus ETF
Payout Change
Pending
Price as of:
$116.62
-0.36
-0.31%
primary theme
U.S. Mid-Cap Value Equity
ONEV (ETF)
SPDR Russell 1000 Low Volatility Focus ETF
Payout Change
Pending
Price as of:
$116.62
-0.36
-0.31%
primary theme
U.S. Mid-Cap Value Equity
Name
As of 04/17/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
2.3%
1 yr return
11.8%
3 Yr Avg Return
6.0%
5 Yr Avg Return
10.5%
Net Assets
$631 M
Holdings in Top 10
9.9%
52 WEEK LOW AND HIGH
$117.0
$99.61
$124.18
Expenses
OPERATING FEES
Expense Ratio 0.20%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 31.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Exchange Traded Fund
Name
As of 04/17/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
ONEV - Profile
Distributions
- YTD Total Return 2.3%
- 3 Yr Annualized Total Return 6.0%
- 5 Yr Annualized Total Return 10.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.67%
- Dividend Yield 2.2%
- Dividend Distribution Frequency None
Fund Details
-
Legal NameSPDR Russell 1000 Low Volatility Focus ETF
-
Fund Family NameState Street Global Advisors - advised funds
-
Inception DateDec 02, 2015
-
Shares Outstanding5480000
-
Share ClassN/A
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Feehily
Fund Description
In seeking to track the performance of the Russell 1000 Low Volatility Focused Factor Index (the “Index”), the Fund employs a sampling strategy, which means that the Fund is not required to purchase all of the securities represented in the Index. Instead, the Fund may purchase a subset of the securities in the Index in an effort to hold a portfolio of securities with generally the same risk and return characteristics of the Index. The quantity of holdings in the Fund will be based on a number of factors, including asset size of the Fund. Based on its analysis of these factors, SSGA Funds Management, Inc. (“SSGA FM” or the “Adviser”), the investment adviser to the Fund, either may invest the Fund's assets in a subset of securities in the Index or may invest the Fund's assets in substantially all of the securities represented in the Index in approximately the same proportions as the Index, as determined by the Adviser to be in the best interest of the Fund in pursuing its objective.
Under normal market conditions, the Fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the Index. In addition, in seeking to track the Index, the Fund may invest in equity securities that are not included in the Index (including common stock, preferred stock, depositary receipts and shares of other investment companies), cash and cash equivalents or money market instruments, such as repurchase agreements and money market funds (including money market funds advised by the Adviser). In seeking to track the Index, the
Fund's assets may be concentrated in an industry or group of industries, but only to the extent that the Index concentrates in a particular industry or group of industries. Futures contracts (a type of derivative instrument) may be used by the Fund in seeking performance that corresponds to the Index and in managing cash flows.
The Index is designed to reflect 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 low volatility characteristics (the “Factor Characteristics”). To construct the Index, Frank Russell Company (the “Index Provider”) utilizes a rules-based multi-factor scoring process that seeks to increase exposure (or “tilt”) to companies in the Russell 1000 Index demonstrating the Factor Characteristics. The Russell 1000 Index is a market-capitalization index that measures the performance of the large-cap segment of the U.S. equity universe. Within the multi-factor scoring process, a specific focus is applied towards a company's volatility factor. Volatility is a statistical measurement of the magnitude of movements in a stock's price over time. Each stock's factor scores are multiplied by the stock's free float market cap weight in the Russell 1000 Index to determine each constituent's weight in the multi-factor Index. Companies in the Russell 1000 Index are excluded from the Index if they do not meet a minimum weight in the Index. A company's volatility factor score is based on the standard deviation of weekly total returns to a company's stock price over the trailing five years ending on the last business day of the month prior to the Index rebalancing month. A company's value factor score is based on cash flow yield, earnings yield, and country relative sales to price ratio, calculated based on the company's total market capitalization and information reported in the company's most recent annual financial statement as of the last business day of the month prior to the Index rebalancing month. A company's quality factor score is based on return on assets, change in asset turnover, accruals, and leverage, calculated based on information reported in the company's most recent annual financial statement as of the last business day of the month prior to the Index rebalancing month. A company's size factor score is based on total market capitalization as of the last business day of the month prior to the Index rebalancing month.
The weight of each individual stock in the Index is capped at 2000% of the stock's weight in the Russell 1000 Index, and any weight exceeding this limit will be redistributed to all stocks below the limit in proportion to their combination of market capitalization and factor scoring. The weight of each industry in the Index is capped at 120% of the industry's weight in the Russell 1000 Index plus an additional 5%, and any weight exceeding this limit is redistributed to all other industries below the limit in proportion to their combination of market capitalization and factor scoring. The weight of each industry in the Index must be at least 80% of the industry's weight in the Russell 1000 Index less 5%. The weights of any industries below this minimum will be increased to the minimum by redistributing the weights of industries above the minimum in proportion to their combination of market capitalization and factor scoring. The Index is rebalanced annually in June. As of August 31, 2023, a significant portion of the Fund comprised companies in the industrial and consumer discretionary sectors, although this may change from time to time. As of July 31, 2023 there were approximately 465 securities in the Index.
The Index is sponsored by the Index Provider, which is not affiliated with the Fund or the Adviser. The Index Provider determines the composition of the Index, relative weightings of the securities in the Index and publishes information regarding the market value of the Index.
ONEV - Performance
Return Ranking - Trailing
| Period | ONEV Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.3% | -7.6% | 8.7% | 36.73% |
| 1 Yr | 11.8% | -8.1% | 32.2% | 62.20% |
| 3 Yr | 6.0%* | -5.0% | 13.9% | 20.65% |
| 5 Yr | 10.5%* | -0.7% | 15.8% | 17.13% |
| 10 Yr | N/A* | 0.1% | 11.9% | 64.55% |
* Annualized
Return Ranking - Calendar
| Period | ONEV Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 11.1% | -11.3% | 33.3% | 29.84% |
| 2022 | -9.8% | -41.6% | 2.3% | 20.38% |
| 2021 | 27.2% | -41.5% | 44.9% | 20.98% |
| 2020 | 4.2% | -29.0% | 22.1% | 23.27% |
| 2019 | 27.8% | -8.1% | 31.2% | 7.43% |
Total Return Ranking - Trailing
| Period | ONEV Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 2.3% | -7.6% | 8.7% | 36.73% |
| 1 Yr | 11.8% | -8.1% | 32.2% | 62.20% |
| 3 Yr | 6.0%* | -5.0% | 13.9% | 20.65% |
| 5 Yr | 10.5%* | -0.7% | 15.8% | 17.13% |
| 10 Yr | N/A* | 0.1% | 11.9% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | ONEV Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 13.3% | -3.7% | 36.5% | 42.47% |
| 2022 | -8.2% | -35.0% | 2.4% | 50.82% |
| 2021 | 29.2% | 6.2% | 48.3% | 45.78% |
| 2020 | 6.7% | -22.9% | 23.2% | 20.50% |
| 2019 | 30.7% | -3.0% | 35.7% | 13.43% |
ONEV - Holdings
Concentration Analysis
| ONEV | Category Low | Category High | ONEV % Rank | |
|---|---|---|---|---|
| Net Assets | 631 M | 991 K | 28 B | 58.56% |
| Number of Holdings | 472 | 8 | 2449 | 4.81% |
| Net Assets in Top 10 | 59.1 M | 250 K | 4.28 B | 71.39% |
| Weighting of Top 10 | 9.86% | 5.0% | 104.2% | 97.06% |
Top 10 Holdings
- Cencora Inc 1.30%
- Centene Corp 1.16%
- Cognizant Technology Solutions Corp 1.14%
- McKesson Corp 1.04%
- Cardinal Health Inc 0.98%
- Archer-Daniels-Midland Co 0.96%
- Marathon Petroleum Corp 0.87%
- CDW Corp/DE 0.86%
- NVR Inc 0.77%
- Jabil Inc 0.77%
Asset Allocation
| Weighting | Return Low | Return High | ONEV % Rank | |
|---|---|---|---|---|
| Stocks | 99.65% | 56.38% | 102.65% | 15.51% |
| Cash | 0.60% | 0.00% | 43.98% | 70.32% |
| Other | 0.01% | -1.97% | 8.33% | 29.68% |
| Preferred Stocks | 0.00% | 0.00% | 5.43% | 16.58% |
| Convertible Bonds | 0.00% | 0.00% | 0.02% | 9.68% |
| Bonds | 0.00% | 0.00% | 27.69% | 12.30% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | ONEV % Rank | |
|---|---|---|---|---|
| Technology | 17.52% | 0.00% | 30.07% | 2.42% |
| Industrials | 16.39% | 0.00% | 29.02% | 47.31% |
| Financial Services | 15.16% | 0.00% | 60.11% | 80.65% |
| Consumer Defense | 10.85% | 0.00% | 33.79% | 4.84% |
| Consumer Cyclical | 10.31% | 0.00% | 29.62% | 57.26% |
| Healthcare | 10.13% | 0.00% | 32.47% | 40.86% |
| Utilities | 9.02% | 0.00% | 24.69% | 14.25% |
| Real Estate | 5.77% | 0.00% | 40.74% | 71.77% |
| Basic Materials | 2.36% | 0.00% | 23.88% | 89.52% |
| Communication Services | 1.83% | 0.00% | 19.80% | 60.48% |
| Energy | 0.67% | 0.00% | 29.17% | 95.16% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | ONEV % Rank | |
|---|---|---|---|---|
| US | 99.65% | 56.38% | 102.65% | 13.64% |
| Non US | 0.00% | 0.00% | 34.45% | 32.89% |
ONEV - Expenses
Operational Fees
| ONEV Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.20% | 0.01% | 16.92% | 96.79% |
| Management Fee | 0.20% | 0.00% | 1.20% | 3.21% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.40% | N/A |
Sales Fees
| ONEV Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 3.50% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| ONEV Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| ONEV Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 31.00% | 0.00% | 227.00% | 24.71% |
ONEV - Distributions
Dividend Yield Analysis
| ONEV | Category Low | Category High | ONEV % Rank | |
|---|---|---|---|---|
| Dividend Yield | 2.22% | 0.00% | 23.76% | 46.92% |
Dividend Distribution Analysis
| ONEV | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | None | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| ONEV | Category Low | Category High | ONEV % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.67% | -1.84% | 4.73% | 9.16% |
Capital Gain Distribution Analysis
| ONEV | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 21, 2024 | $0.459 | OrdinaryDividend |
| Dec 21, 2023 | $0.650 | OrdinaryDividend |
| Sep 21, 2023 | $0.477 | OrdinaryDividend |
| Jun 23, 2023 | $0.499 | OrdinaryDividend |
| Mar 23, 2023 | $0.421 | OrdinaryDividend |
| Dec 22, 2022 | $0.591 | OrdinaryDividend |
| Sep 22, 2022 | $0.465 | OrdinaryDividend |
| Jun 24, 2022 | $0.417 | OrdinaryDividend |
| Mar 24, 2022 | $0.378 | OrdinaryDividend |
| Dec 23, 2021 | $0.497 | OrdinaryDividend |
| Sep 23, 2021 | $0.399 | OrdinaryDividend |
| Jun 24, 2021 | $0.374 | OrdinaryDividend |
| Mar 25, 2021 | $0.377 | OrdinaryDividend |
| Dec 24, 2020 | $0.591 | OrdinaryDividend |
| Sep 24, 2020 | $0.317 | OrdinaryDividend |
| Jun 25, 2020 | $0.363 | OrdinaryDividend |
| Mar 26, 2020 | $0.406 | OrdinaryDividend |
| Dec 27, 2019 | $0.662 | OrdinaryDividend |
| Sep 26, 2019 | $0.405 | OrdinaryDividend |
| Jun 27, 2019 | $0.385 | OrdinaryDividend |
| Mar 21, 2019 | $0.334 | OrdinaryDividend |
| Dec 28, 2018 | $0.423 | OrdinaryDividend |
| Sep 27, 2018 | $0.376 | OrdinaryDividend |
| Jun 21, 2018 | $0.360 | OrdinaryDividend |
| Mar 21, 2018 | $0.281 | OrdinaryDividend |
| Sep 25, 2017 | $0.321 | OrdinaryDividend |
| Jun 26, 2017 | $0.308 | OrdinaryDividend |
| Mar 27, 2017 | $0.279 | OrdinaryDividend |
| Sep 26, 2016 | $0.323 | OrdinaryDividend |
| Jun 27, 2016 | $0.307 | OrdinaryDividend |
| Mar 29, 2016 | $0.314 | OrdinaryDividend |
| Dec 29, 2015 | $0.125 | OrdinaryDividend |
ONEV - Fund Manager Analysis
Managers
Michael Feehily
Start Date
Tenure
Tenure Rank
Dec 01, 2015
6.5
6.5%
Mr. Feehily, CFA, is a Managing Director of SSGA and the Adviser and Co-Head of Passive Equity Strategies in North America in the Global Equity Beta Solutions Group. In this capacity, Mr. Feehily has oversight of the North American Passive Equity teams in Boston and Montreal. In addition, Mr. Feehily is a member of the Senior Management Group. Mr. Feehily rejoined SSgA in 2010 after spending the previous four years at State Street Global Markets LLC where he helped to build the Exposure Solutions business.
Karl Schneider
Start Date
Tenure
Tenure Rank
Dec 01, 2015
6.5
6.5%
Karl Schneider, CAIA, is a Vice President of SSGA and SSGA FM, and Head of U.S. Equity Strategies for GEBS, where in addition to overseeing the management of the U.S. equity index strategies, he also serves as a portfolio manager for a number of the group's passive equity portfolios. Previously within GEBS, he served as a portfolio manager and product specialist for synthetic beta strategies, including commodities, buy/write, and hedge fund replication. Prior to joining GEBS, Mr. Schneider worked as a portfolio manager in SSGA's Currency Management Group, managing both active currency selection and traditional passive hedging overlay portfolios. He joined SSGA in 1996. Mr. Schneider holds a BS in finance and investments from Babson College and an MS in finance from Boston College. He has earned the Chartered Alternative Investment Analyst designation. Mr. Schneider is a member of the CAIA Association.
Emiliano Rabinovich
Start Date
Tenure
Tenure Rank
Jan 03, 2017
5.41
5.4%
Emiliano Rabinovich, CFA, is a Vice President of SSGA and the Adviser and a Senior Portfolio Manager in the Global Equity Beta Solutions Group. Within this group, he is the strategy leader for their Smart Beta and ESG products. Mr. Rabinovich currently manages a varied mix of funds that include both traditional indexing and a variety of alternative beta mandates. Also, he manages several local and global strategies and fund structures, which include separate accounts, commingled funds and mutual funds.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 35.59 | 8.28 | 10.92 |
