ONEV vs QLV: Grades, Fees and Holdings Compared

State Street SPDR Russell 1000 Low Volatility Focus ETF

ONEVBNYSE Arca

Northern Trust US Quality Low Volatility ETF

QLVANYSE Arca

Overlap

15.6%by weight

Expense ratio

QLV −0.12pt a year

ONEV0.20%QLV0.08%

Avg volume · 30D

ONEV 2.0×the volume

ONEV17.5KQLV8.83K

5Y return · a year

QLV +1.5pt

ONEV+8.8%QLV+10.3%

ONEV vs QLV Performance

Oct 29, 2021 – Oct 30, 2026

+52.3%ONEV+63.3%QLV

Expense ratio: ONEV 0.20%; QLV 0.08%, better
Fund size: ONEV $287M; QLV $189M
1Y total return: ONEV +17.6%, better; QLV +17.0%
Yield (12M): ONEV 1.85%, better; QLV 1.43%
Holdings: ONEV 450; QLV 122
Avg volume (30D): ONEV 17.5K sh, better; QLV 8.83K sh
NAV per share: ONEV $150.49; QLV $82.16
52W range

ETF.net Grade

Pillar letters and Scores for ONEV, QLV, with each pillar’s weight
Pillar	ONEV	QLV
Cost30% weight	C50	A100Higher
Mission25% weight	A98Higher	A76
Risk15% weight	C51	A86Higher
Tradability15% weight	B64	B67Higher
Holdings10% weight	A76Higher	D34
Durability5% weight	B62Higher	D31

Rank among US Low Volatility Index funds

How we build Categories ›

Same Category. ONEV and QLV are both graded against the same 16 US Low Volatility Index funds, so their Grades compare head to head.

US Low Volatility Index⁠

Category · 16 funds

See all 16 ›

QLV ranks 2nd and ONEV 5th of 16 funds in the US Low Volatility Index Category.

Rank 1ALGLVState Street SPDR US Large Cap Low Volatility Index ETFScore 78
Rank 2AQLVNorthern Trust US Quality Low Volatility ETFScore 76
Rank 3AUSMViShares MSCI USA Min Vol Factor ETFScore 75
Rank 4BSMLVState Street SPDR US Small Cap Low Volatility Index ETFScore 68
Rank 5BONEVState Street SPDR Russell 1000 Low Volatility Focus ETFScore 67
Rank 6BFDLOFidelity Low Volatility Factor ETF Score 65

Our read on each fund

ETF.net Research

ONEVBState Street SPDR Russell 1000 Low Volatility Focus ETF

QLVANorthern Trust US Quality Low Volatility ETF

In short

ONEV Low volatility with a valuation check. ONEV tracks a Russell 1000 index that leans defensive but also screens for quality and value, so the calm names it holds still have to look reasonably priced.

QLV Low vol with a quality gate: the index cuts the weakest-scoring fifth of US large and mid caps, then optimizes what's left for calm. Fee is 0.08% net of a waiver through March 1, 2027.

Stated mandate

ONEV The fund seeks to track the total return of the Russell 1000 Low Volatility Focused Factor Index before fees and expenses.

QLV The fund seeks to track the Northern Trust Quality Low Volatility Index and provide exposure to U.S. companies selected for lower overall volatility and quality characteristics.

Why people hold it

ONEV Three factors, one ticker: the index blends low volatility with quality and value across roughly 400 large caps, so the defensive tilt carries a price and profitability screen too.ssga.com
Tracking has been tight. The fund has hugged its Russell 1000 Low Volatility Focused Factor Index closely, which is the entire job description for an index product.
Running since 2015, it ranks among the stronger builds in the US low-volatility group, and it pays distributions quarterly.

QLV The quality screen is the point: stocks are ranked on profitability, management efficiency and cash flow, and the bottom fifth is cut before the volatility work starts.sec.gov
0.08% net of a waiver through March 1, 2027: below the category median, and under USMV at 0.15% and LGLV at 0.12%.
Sector, industry and single-stock limits inside the optimization push back on the utilities-and-staples pileup typical of low vol. Roughly 120 holdings.sec.gov
Sits in the top quartile of its US low volatility peer group, and pays quarterly.

Worth knowing

ONEV At 0.20% a year it costs more than simpler low-vol rivals such as LGLV (0.12%) and QLV (0.09%), so the multi-factor twist is not free.
It trades thinly next to the category's household names, so spreads can widen. That bites most on large or hurried orders.
Low volatility is a tilt, not a shield. This is a fully invested US large-cap stock portfolio and it moves with the market.

QLV One of the less-traded funds in the category, so the bid-ask spread can matter more at the point of trade than the expense ratio.
Assets stay modest next to the category's multi-billion-dollar incumbents.
Low volatility here is relative, not absolute: the aim is calmer than the Northern Trust 1250 parent index, not shelter from a broad selloff.sec.gov

Full ONEV profile⁠

Full QLV profile⁠

ONEV vs QLV Holdings

How ONEV and QLV differ

Overlap by weight

15.6%

Shared holdings make up 25.9% of QLV and 21.4% of ONEV.

Level by level

Holdings55 in both15.6%
Sector11 Sectors62.9%
Countryby domicile97.7%
Asset classEquity100%

Sector

Sector weights in ONEV and QLV, widest gap first
Sector	More in ONEVMore in QLV	ONEV	QLV
Technology	QLV +24.5 points	7.7%	32.2%
Industrials	ONEV +14.4 points	20.1%	5.7%
Real Estate	ONEV +5.9 points	7.2%	1.3%
Communication	QLV +5.7 points	0.8%	6.5%
Consumer Discretionary	ONEV +5.5 points	12.3%	6.8%
Financials	ONEV +5.3 points	17.4%	12.1%
Energy	QLV +4.9 points	2.3%	7.2%
Utilities	ONEV +2.7 points	8.4%	5.7%
Health Care	QLV +1.9 points	11.8%	13.7%
Materials	ONEV +1.6 points	2.3%	0.7%
Consumer Staples	ONEV +1.6 points	9.7%	8.1%

Country, concentration and asset class

Country by domicile

Country weights in ONEV and QLV, widest gap first
Country	More in ONEVMore in QLV	ONEV	QLV
United States	ONEV +1.9 points	99.1%	97.2%
Israel	QLV +0.6 points	0.0%	0.6%
United Kingdom	QLV +0.5 points	0.0%	0.5%
Other countries (6)	QLV +0.8 points	0.9%	1.7%

Concentration

Weight in the 10 largest Holdings

ONEV9.8%
QLV35.9%

Securities held

ONEV448
QLV119

Asset class

ONEV: Equity
QLV: Equity

Holdings

Only in ONEV393
In both55
Only in QLV64

Only in ONEV

393 securities, 78.4% of ONEV by weight

Cognizant Tech Solutions A0.83%
Cincinnati Financial Corp0.77%
Hartford Insurance Group Inc0.72%
Marsh & Mclennan Cos0.72%
Elevance Health Inc0.67%
Comcast Corp Class A0.65%
Simon Property Group Inc0.64%
T Rowe Price Group Inc0.63%
Regeneron Pharmaceuticals0.62%
Expeditors Intl Wash Inc0.58%
Broadridge Financial Solutio0.58%
Archer Daniels Midland Co0.57%
Hca Healthcare Inc0.56%
Willis Towers Watson PLC0.54%
Vivmark Residential0.54%
Resmed Inc0.54%
Best Buy Co Inc0.52%
Pultegroup Inc0.51%
Becton Dickinson and Co0.50%
General Mills Inc0.50%
Tractor Supply Company0.50%
Leidos Holdings Inc0.50%
Vici Properties Inc0.50%
Dollar General Corp0.49%
Zoetis Inc0.49%
Us Foods Holding Corp0.47%
Expand Energy Corp0.47%
Aon PLC Class A0.46%
Otis Worldwide Corp0.45%
Sysco Corp0.45%
Incyte Corp0.45%
Skyworks Solutions Inc0.44%
Nvr Inc0.44%
Cboe Global Markets Inc0.44%
Colgate Palmolive Co0.43%
Cf Industries Holdings Inc0.43%
Jacobs Solutions Inc0.42%
Gartner Inc0.41%
Reliance Inc0.41%
Illinois Tool Works0.41%
Steris PLC0.41%
Oneok Inc0.40%
Godaddy Inc Class A0.39%
Fastenal Co0.39%
Sun Communities Inc0.39%
Bj’s Wholesale Club Holdings0.38%
Tyson Foods Inc Class A0.38%
Church & Dwight Co Inc0.38%
Edison International0.38%
Workday Inc Class A0.37%

Only in QLV

64 securities, 73.0% of QLV by weight

Microsoft Corp Common Stock USD 0.000006256.39%
Apple Inc Common Stock USD 0.000016.07%
NVIDIA Corp Common Stock USD 0.0015.83%
Johnson & Johnson Common Stock USD 14.30%
Exxonmobil Holdings Corp Common Stock USD2.60%
Costco Wholesale Corp Common Stock USD 0.0052.37%
Visa Inc Common Stock USD 0.00012.36%
Amazon.com Inc Common Stock USD 0.012.27%
Berkshire Hathaway Inc Common Stock USD 0.00331.94%
AbbVie Inc Common Stock USD 0.011.76%
Mastercard Inc Common Stock USD 0.00011.73%
Broadcom Inc Common Stock USD1.64%
Alphabet Inc-Cl A - Common Stock USD 0.0011.53%
Eli Lilly and Company1.51%
The Procter & Gamble Company.1.27%
Pepsico Inc Common Stock USD 0.0171.26%
Merck & Co Inc Common Stock USD 0.51.25%
The Coca-Cola Company Common Stock USD 0.251.23%
Alphabet Inc-Cl C - Common Stock USD 0.0011.16%
Palo Alto Networks Inc Common Stock USD 0.00011.01%
Gilead Sciences Inc Common Stock USD 0.0010.97%
Lockheed Martin Corp Common Stock USD 10.96%
Chevron Corp Common Stock USD 0.750.92%
Qualys Inc Common Stock USD 0.0010.89%
Duke Energy Corp Common Stock USD 0.0010.89%
Meta Platforms Inc Common Stock USD 0.0000060.86%
International Business Machines Corporation0.86%
Tjx Cos Inc/The Common Stock USD 10.84%
Conocophillips Common Stock USD 0.010.83%
International Seaways Inc Common Stock USD 00.82%
Texas Instruments Inc Common Stock USD 10.77%
Rtx Corp0.73%
Mcdonald's Corp Common Stock USD 0.010.72%
Verizon Communications Inc Common Stock USD 0.10.69%
Chubb Ltd Common Stock USD 24.150.69%
The Southern Company0.64%
Cme Group Inc Common Stock USD 0.010.62%
Roper Technologies Inc Common Stock USD 0.010.61%
Everest Group Ltd Common Stock USD 0.010.58%
Agnico Eagle Mines Ltd Common Stock Cad 00.58%
Check Point Software Technologies Ltd Common Stock0.57%
Northrop Grumman Corp Common Stock USD 10.57%
AT&T Inc Common Stock USD 10.56%
Coca-Cola Europacific Partners PLC Common Stock0.55%
Targa Resources Corp Common Stock USD 0.0010.53%
T-Mobile Us Inc Common Stock USD 0.00010.52%
Aercap Holdings NV Common Stock USD 0.010.49%
Tesla Inc Common Stock USD 0.0010.48%
Kla Corp Common Stock USD 0.0010.48%
Diamondback Energy Inc Common Stock USD 0.010.43%

Weight gaps

All 55 Holdings in both funds, largest gap first.

Holding weights in ONEV and QLV, widest gap first
Holding	More in ONEVMore in QLV	ONEV	QLV
Mckesson CorpMCK	ONEV +1.15 points	1.17%	0.02%
Arch Capital Group LtdACGL	ONEV +0.93 points	0.95%	0.02%
Allstate CorpALL	ONEV +0.69 points	1.50%	0.81%
Dolby Laboratories Inc Class ADLB	QLV +0.62 points	0.11%	0.73%
Kroger CoKR	ONEV +0.60 points	0.84%	0.24%
Kraft Heinz Co/TheKHC	QLV +0.59 points	0.13%	0.72%
Amdocs LtdDOX	QLV +0.58 points	0.19%	0.77%
Chemed CorpCHE	QLV +0.55 points	0.20%	0.75%
Cirrus Logic IncCRUS	QLV +0.53 points	0.16%	0.69%
Hershey Co/TheHSY	QLV +0.44 points	0.23%	0.67%
Consolidated Edison IncED	QLV +0.44 points	0.41%	0.85%
Fti Consulting IncFCN	QLV +0.43 points	0.15%	0.58%
Cencora IncCOR	ONEV +0.41 points	0.47%	0.06%
Dte Energy CompanyDTE	QLV +0.38 points	0.37%	0.75%
Verisign IncVRSN	QLV +0.33 points	0.53%	0.86%
Landstar System IncLSTR	QLV +0.33 points	0.13%	0.46%
Appfolio Inc AAPPF	QLV +0.32 points	0.05%	0.37%
Hanover Insurance Group Inc/THG	QLV +0.32 points	0.23%	0.55%
Murphy Usa IncMUSA	QLV +0.32 points	0.15%	0.47%
Assurant IncAIZ	QLV +0.32 points	0.22%	0.54%
Texas Roadhouse IncTXRH	ONEV +0.30 points	0.34%	0.04%
Neurocrine Biosciences IncNBIX	QLV +0.29 points	0.18%	0.47%
Wec Energy Group IncWEC	QLV +0.29 points	0.28%	0.57%
Progressive CorpPGR	ONEV +0.28 points	1.24%	0.96%
Evergy IncEVRG	QLV +0.26 points	0.27%	0.53%
Essex Property Trust IncESS	QLV +0.26 points	0.21%	0.47%
Snap On IncSNA	QLV +0.26 points	0.43%	0.69%
Labcorp Holdings IncLH	ONEV +0.26 points	0.52%	0.26%
Cheniere Energy IncLNG	QLV +0.25 points	0.42%	0.67%
Omega Healthcare InvestorsOHI	QLV +0.25 points	0.22%	0.47%
Alliant Energy CorpLNT	QLV +0.24 points	0.19%	0.43%
Agree Realty CorpADC	QLV +0.23 points	0.05%	0.28%
Ameren CorporationAEE	QLV +0.20 points	0.33%	0.53%
Wr Berkley CorpWRB	QLV +0.20 points	0.33%	0.53%
Encompass Health CorpEHC	QLV +0.19 points	0.36%	0.56%
Royalty Pharma PLC Class ARPRX	ONEV +0.19 points	0.35%	0.16%
Travelers Cos Inc/TheTRV	ONEV +0.18 points	0.91%	0.73%
Eog Resources IncEOG	QLV +0.18 points	0.48%	0.66%
Autozone IncAZO	QLV +0.17 points	0.29%	0.46%
United Therapeutics CorpUTHR	ONEV +0.15 points	0.27%	0.12%
Renaissancere Holdings LtdRNR	QLV +0.14 points	0.40%	0.54%
Exelon CorpEXC	ONEV +0.15 points	0.36%	0.21%
Dropbox Inc Class ADBX	QLV +0.13 points	0.16%	0.29%
Netapp IncNTAP	ONEV +0.13 points	0.51%	0.38%
Veralto CorpVLTO	ONEV +0.13 points	0.38%	0.25%
Pinnacle West CapitalPNW	QLV +0.13 points	0.26%	0.39%
Quest Diagnostics IncDGX	ONEV +0.11 points	0.66%	0.55%
General Dynamics CorpGD	QLV +0.07 points	0.51%	0.58%
American Electric PowerAEP	QLV +0.06 points	0.27%	0.33%
Darden Restaurants IncDRI	ONEV +0.05 points	0.41%	0.36%
Trimble IncTRMB	ONEV +0.04 points	0.08%	0.04%
Ptc IncPTC	ONEV +0.03 points	0.40%	0.37%
Chord Energy CorpCHRD	ONEV +0.03 points	0.19%	0.16%
The Campbell’s CompanyCPB	ONEV +0.03 points	0.12%	0.09%
The Cigna GroupCI	Same weight	0.90%	0.90%

All 447 ONEV holdings⁠All 123 QLV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ONEV vs QLV Cost

Overpaying ONEV vs QLV

$2,466

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

ONEV 0.20%
$4,155
QLV 0.08%
$1,689

Amount$10,000

Years30 years

Cost over time

ONEV 0.20%
QLV 0.08%
Overpaying

Year by year

Year	ONEV	QLV	Overpaying
10	$365	$147	$218
20	$1,421	$575	$846
30	$4,155	$1,689	$2,466

Expense ratio

0.20%ONEV
0.08%QLV, cheaper

QLV0.08%ONEV0.20%

0.08%0.35%

Middle half of US Low Volatility Index funds
Median 0.20%

QLV cheapest of 16 funds

ONEV 8th cheapest of 16 funds

ONEV vs QLV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ONEV 1.85%, better; QLV 1.43%
Payout (12M): ONEV $2.79; QLV $1.18
Last payment: ONEV $0.74; QLV $0.28
Ex-dividend: ONEV Sep 21, 2026; QLV Sep 18, 2026
Paid on: ONEV Sep 23, 2026; QLV Sep 24, 2026
Frequency: ONEV Quarterly; QLV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ONEVQuarterly · 39 paymentsAll ONEV payments⁠

QLVQuarterly · 30 paymentsAll QLV payments⁠

ONEV vs QLV Risk

Fall from peak · 5 years

ONEV
QLV

Risk facts

VolatilityStd dev, 3 years: ONEV 13.1%QLV 8.6%, better
Return per unit of riskSharpe ratio, 3 years: ONEV 0.89QLV 1.56, better
Worst fallMax drawdown, 5 years: ONEV −18.5%QLV −17.9%, better
Market sensitivityBeta, 5 years: ONEV 0.71QLV 0.58; Market = 1

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