ONEV vs SMLV: Grades, Fees and Holdings Compared

State Street SPDR Russell 1000 Low Volatility Focus ETF

ONEVBNYSE Arca

State Street SPDR US Small Cap Low Volatility Index ETF

SMLVBNYSE Arca

Overlap

3.8%by weight

Expense ratio

SMLV −0.08pt a year

ONEV0.20%SMLV0.12%

Avg volume · 30D

ONEV 5.0×the volume

ONEV17.5KSMLV3.51K

10Y return · a year

ONEV +1.6pt

ONEV+11.9%SMLV+10.3%

ONEV vs SMLV Performance

Oct 29, 2021 – Oct 30, 2026

+52.3%ONEV+52.2%SMLV

Expense ratio: ONEV 0.20%; SMLV 0.12%, better
Fund size: ONEV $287M; SMLV $260M
1Y total return: ONEV +17.6%; SMLV +25.8%, better
Yield (12M): ONEV 1.85%; SMLV 2.34%, better
Holdings: ONEV 450; SMLV 393
Avg volume (30D): ONEV 17.5K sh, better; SMLV 3.51K sh
NAV per share: ONEV $150.49; SMLV $156.67
52W range

ETF.net Grade

Pillar letters and Scores for ONEV, SMLV, with each pillar’s weight
Pillar	ONEV	SMLV
Cost30% weight	C50	A90Higher
Mission25% weight	A98Higher	B69
Risk15% weight	C51Higher	C40
Tradability15% weight	B64Higher	C49
Holdings10% weight	A76	A79Higher
Durability5% weight	B62Higher	C53

Rank among US Low Volatility Index funds

How we build Categories ›

Same Category. ONEV and SMLV 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 ›

SMLV ranks 4th 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

SMLVBState Street SPDR US Small Cap Low Volatility Index 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.

SMLV Low volatility is usually a large-cap game. SMLV runs the same calm-stocks screen down where the swings actually live: US small caps, roughly 400 of them, for 0.12% a year.

Stated mandate

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

SMLV The fund's advertised mandate is exposure to U.S. small-capitalization companies selected for low volatility.

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.

SMLV Costs 0.12% a year, under the 0.20% median for its low-volatility peer group.
The low-vol shelf is stacked with large-cap mandates (USMV, LGLV, ONEV). This one applies the screen to US small caps instead.ssga.com
Roughly 400 holdings, so no single small cap steers the fund. It has tracked its index through live markets since 2013.
Sits in the upper half of its low-volatility cohort on our overall read.

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.

SMLV Thinly traded next to the giants of the category, so the spread you pay at the point of trade matters more here.
Low volatility is relative, not absolute. This is still small-cap equity, and it rides rougher than the large-cap min-vol funds it shares a shelf with.
Distributions land quarterly, not monthly.

Full ONEV profile⁠

Full SMLV profile⁠

ONEV vs SMLV Holdings

How ONEV and SMLV differ

Overlap by weight

3.8%

Shared holdings make up 10.9% of SMLV and 3.8% of ONEV.

Level by level

Holdings35 in both3.8%
Sector11 Sectors74.0%
Countryby domicile98.8%
Asset classEquity100%

Sector

Sector weights in ONEV and SMLV, widest gap first
Sector	More in ONEVMore in SMLV	ONEV	SMLV
Financials	SMLV +18.1 points	17.4%	35.5%
Consumer Staples	ONEV +6.6 points	9.7%	3.1%
Industrials	ONEV +6.0 points	20.1%	14.1%
Utilities	ONEV +5.6 points	8.4%	2.8%
Consumer Discretionary	ONEV +5.2 points	12.3%	7.1%
Technology	SMLV +2.5 points	7.7%	10.2%
Health Care	ONEV +2.3 points	11.8%	9.5%
Real Estate	SMLV +2.1 points	7.2%	9.3%
Materials	SMLV +1.7 points	2.3%	4.0%
Communication	SMLV +1.6 points	0.8%	2.4%
Energy	ONEV +0.4 points	2.3%	1.9%

Country, concentration and asset class

Country by domicile

Country weights in ONEV and SMLV, widest gap first
Country	More in ONEVMore in SMLV	ONEV	SMLV
United States	ONEV +0.5 points	99.1%	98.6%
Israel	SMLV +0.4 points	0.0%	0.4%
Canada	SMLV +0.1 points	0.2%	0.3%
Ireland	ONEV +0.3 points	0.3%	0.0%
Switzerland	ONEV +0.2 points	0.2%	0.0%
Colombia	SMLV +0.2 points	0.0%	0.2%
India	ONEV +0.2 points	0.2%	0.0%
Italy	SMLV +0.2 points	0.0%	0.2%
Other countries (3)	SMLV +0.4 points	0.0%	0.4%

Concentration

Weight in the 10 largest Holdings

ONEV9.8%
SMLV6.0%

Securities held

ONEV448
SMLV391

Asset class

ONEV: Equity
SMLV: Equity

Holdings

Only in ONEV413
In both35
Only in SMLV356

Only in ONEV

413 securities, 96.2% of ONEV by weight

Allstate Corp1.50%
Progressive Corp1.24%
Mckesson Corp1.17%
Arch Capital Group Ltd0.95%
Travelers Cos Inc/The0.91%
The Cigna Group0.90%
Kroger Co0.84%
Cognizant Tech Solutions A0.83%
Cincinnati Financial Corp0.77%
Hartford Insurance Group Inc0.72%
Marsh & Mclennan Cos0.72%
Elevance Health Inc0.67%
Quest Diagnostics Inc0.66%
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%
Verisign Inc0.53%
Labcorp Holdings Inc0.52%
Best Buy Co Inc0.52%
General Dynamics Corp0.51%
Pultegroup Inc0.51%
Netapp 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%
Eog Resources Inc0.48%
Us Foods Holding Corp0.47%
Expand Energy Corp0.47%
Cencora Inc0.47%
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%
Snap On Inc0.43%
Colgate Palmolive Co0.43%

Only in SMLV

356 securities, 89.1% of SMLV by weight

Safety Insurance Group Inc0.67%
Northwestern Energy Group In0.66%
City Holding Co0.64%
Phillips Edison & Company In0.60%
American States Water Co0.60%
Horace Mann Educators0.59%
Apple Hospitality Reit Inc0.58%
Selective Insurance Group0.56%
Atlanta Braves Holdings In C0.55%
Mcgrath Rentcorp0.53%
Tenable Holdings Inc0.50%
Ltc Properties Inc0.49%
Community Trust Bancorp Inc0.48%
Tfs Financial Corp0.47%
Ashland Inc0.47%
Spire Inc0.46%
New Jersey Resources Corp0.45%
Northwest Bancshares Inc0.45%
Bank First Corp0.45%
Nelnet Inc Class A0.44%
Brady Corporation Class A0.44%
First Financial Corp0.44%
Peoples Bancorp Inc0.44%
Four Corners Property Trust0.44%
Capital City Bank Group Inc0.43%
Sensient Technologies Corp0.43%
1ST Source Corp0.43%
Rlj Lodging Trust0.42%
Bar Harbor Bankshares0.42%
German American Bancorp0.42%
Sunstone Hotel Investors Inc0.42%
Kforce Inc0.41%
Postal Realty Trust Inc A0.41%
Cnb Financial Corp/Pa0.41%
Healthstream Inc0.41%
Avista Corp0.40%
Great Southern Bancorp Inc0.40%
Cbiz Inc0.40%
Cto Realty Growth Inc0.39%
Essent Group Ltd0.39%
Cass Information Systems Inc0.39%
Merit Medical Systems Inc0.39%
Cno Financial Group Inc0.39%
Home Bancshares Inc0.38%
Peoples Financial Services0.38%
Huron Consulting Group Inc0.38%
Trustco Bank Corp Ny0.38%
Insight Enterprises Inc0.38%
Bladex Inc0.38%
Towne Bank0.38%

Weight gaps

All 35 Holdings in both funds, largest gap first.

Holding weights in ONEV and SMLV, widest gap first
Holding	More in ONEVMore in SMLV	ONEV	SMLV
Chemed CorpCHE	SMLV +0.37 points	0.20%	0.57%
Msc Industrial Direct Co AMSM	SMLV +0.35 points	0.16%	0.51%
White Mountains Insurance GpWTM	SMLV +0.30 points	0.15%	0.45%
Choice Hotels Intl IncCHH	SMLV +0.30 points	0.06%	0.36%
Avnet IncAVT	SMLV +0.28 points	0.07%	0.35%
First Hawaiian IncFHB	SMLV +0.26 points	0.02%	0.28%
Landstar System IncLSTR	SMLV +0.26 points	0.13%	0.39%
Post Holdings IncPOST	SMLV +0.26 points	0.09%	0.35%
Science Applications InteSAIC	SMLV +0.24 points	0.17%	0.41%
Mgic Investment CorpMTG	SMLV +0.23 points	0.17%	0.40%
Vail Resorts IncMTN	SMLV +0.23 points	0.14%	0.37%
Adt IncADT	SMLV +0.23 points	0.12%	0.35%
Rli CorpRLI	SMLV +0.22 points	0.15%	0.37%
Wyndham Hotels & Resorts IncWH	SMLV +0.21 points	0.07%	0.28%
Sonoco Products CoSON	SMLV +0.21 points	0.14%	0.35%
Schneider National Inc Class BSNDR	SMLV +0.21 points	0.04%	0.25%
Fti Consulting IncFCN	SMLV +0.20 points	0.15%	0.35%
Robert Half IncRHI	SMLV +0.18 points	0.12%	0.30%
Sensata Technologies HoldplcST	SMLV +0.18 points	0.04%	0.22%
Graphic Packaging Holding CoGPK	SMLV +0.17 points	0.05%	0.22%
Silgan Holdings IncSLGN	SMLV +0.16 points	0.10%	0.26%
Western Union CoWU	SMLV +0.16 points	0.05%	0.21%
Gentex CorpGNTX	SMLV +0.16 points	0.12%	0.28%
Wex IncWEX	SMLV +0.15 points	0.05%	0.20%
Envista Holdings CorpNVST	SMLV +0.14 points	0.03%	0.17%
Travel Leisure CoTNL	SMLV +0.13 points	0.07%	0.20%
Kbr IncKBR	SMLV +0.13 points	0.14%	0.27%
Valvoline IncVVV	SMLV +0.14 points	0.05%	0.19%
Euronet Worldwide IncEEFT	SMLV +0.12 points	0.04%	0.16%
H+r Block IncHRB	SMLV +0.11 points	0.18%	0.29%
Exlservice Holdings IncEXLS	SMLV +0.11 points	0.17%	0.28%
Liberty Global Ltd ALBTYA	SMLV +0.08 points	<0.01%	0.09%
Mattel IncMAT	SMLV +0.08 points	0.08%	0.16%
Grand Canyon Education IncLOPE	SMLV +0.07 points	0.11%	0.18%
Vontier CorpVNT	SMLV +0.03 points	0.14%	0.17%

All 447 ONEV holdings⁠All 391 SMLV 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 SMLV Cost

Overpaying ONEV vs SMLV

$1,635

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

ONEV 0.20%
$4,155
SMLV 0.12%
$2,520

Amount$10,000

Years30 years

Cost over time

ONEV 0.20%
SMLV 0.12%
Overpaying

Year by year

Year	ONEV	SMLV	Overpaying
10	$365	$220	$145
20	$1,421	$859	$562
30	$4,155	$2,520	$1,635

Expense ratio

0.20%ONEV
0.12%SMLV, cheaper

SMLV0.12%ONEV0.20%

0.08%0.35%

Middle half of US Low Volatility Index funds
Median 0.20%

SMLV 2nd cheapest of 16 funds

ONEV 8th cheapest of 16 funds

ONEV vs SMLV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ONEV 1.85%; SMLV 2.34%, better
Payout (12M): ONEV $2.79; SMLV $3.63
Last payment: ONEV $0.74; SMLV $0.97
Ex-dividend: ONEV Sep 21, 2026; SMLV Sep 21, 2026
Paid on: ONEV Sep 23, 2026; SMLV Sep 23, 2026
Frequency: ONEV Quarterly; SMLV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ONEVQuarterly · 39 paymentsAll ONEV payments⁠

SMLVQuarterly · 39 paymentsAll SMLV payments⁠

ONEV vs SMLV Risk

Fall from peak · 5 years

ONEV
SMLV

Risk facts

VolatilityStd dev, 3 years: ONEV 13.1%, betterSMLV 17.2%
Return per unit of riskSharpe ratio, 3 years: ONEV 0.89SMLV 0.94, better
Worst fallMax drawdown, 5 years: ONEV −18.5%, betterSMLV −20.4%
Market sensitivityBeta, 5 years: ONEV 0.71SMLV 0.80; Market = 1

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