ONOF vs SPY
Global X Adaptive US Risk Management ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns.
Side-by-Side Comparison
| Metric | ONOF | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.39% | 0.09% | |
| AUM | $144M | $821.1B | |
| Dividend Yield | 1.24% | 1.01% | |
| Holdings | 505 | 505 | |
| YTD Return | +9.81% | +13.47% | |
| 1Y Return | +16.29% | +20.57% | |
| 3Y Return (annualized) | +13.25% | +21.83% | |
| 5Y Return (annualized) | +8.27% | +12.88% | |
| Volatility (annualized) | 14.1% | 15.3% | |
| Max Drawdown | -26.2% | -56.5% | |
| Fund Family | Global X by mirae Asset | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jan 12, 2021 | Jan 22, 1993 |
ONOF vs SPY Performance
Global X Adaptive US Risk Management ETF (ONOF) is a ETF from Global X by mirae Asset and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year ONOF returned +16.29% while SPY returned +20.57%. Year to date, ONOF is up 9.81% versus a gain of 13.47% for SPY.
Over three years, ONOF compounded at +13.25% per year against +21.83% for SPY; over five years the annualized figures are +8.27% and +12.88% respectively. Across the full 6-year window we track, ONOF has the edge at +10.57% annualized vs +8.83%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 14.1% for ONOF. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -26.2% for ONOF and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.85. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
ONOF charges 0.39% per year while SPY charges 0.09%. On a $10,000 position that is $39 vs $9 annually, a gap of $30 per year that compounds over a long holding period. On income, ONOF currently yields 1.24% against 1.01% for SPY.
Holdings Overlap
ONOF and SPY share 407 holdings out of 592 unique holdings combined, representing a 92.0% weight overlap.
High overlap means holding both may not provide much additional diversification.
Frequently Asked Questions
Which is cheaper, ONOF or SPY?
ONOF has an expense ratio of 0.39% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $30 per year of difference.
Which performed better, ONOF or SPY?
Over the past year ONOF returned +16.29% vs +20.57% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), ONOF annualized +10.57% vs +8.83% for SPY. Past performance does not guarantee future results.
Which is riskier, ONOF or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 14.1% for ONOF. Worst drawdown: ONOF -26.2% vs SPY -56.5%.
Should I hold both ONOF and SPY?
ONOF and SPY have a monthly-return correlation of 0.85, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ONOF and SPY?
ONOF and SPY share 407 common holdings with a 92.0% weight overlap. Combined, they hold 592 unique securities.
Which pays a higher dividend, ONOF or SPY?
ONOF yields 1.24% while SPY yields 1.01%, so ONOF currently pays the higher dividend yield.
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