ONOF vs SPY
Global X Adaptive US Risk Management ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, ONOF or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. ONOF is less concentrated, with 37.0% of the fund in its ten largest positions against 38.2%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | ONOF | SPY |
|---|---|---|
| Expense Ratio | 0.39% | 0.09%Best |
| AUM | $141M | $811.2B |
| Dividend Yield | 1.20% | 0.98% |
| Holdings | 1,010 | 1,515 |
| YTD Return | +11.19% | +14.85%Best |
| 1Y Return | +13.14% | +17.26%Best |
| 3Y Return (annualized) | +14.21% | +22.95%Best |
| 5Y Return (annualized) | +9.26% | +13.89%Best |
| Volatility (annualized) | 13.9%Best | 15.0% |
| Max Drawdown | -26.2% | -24.5%Best |
| $10,000 over 5 years | $15,571 | $19,161Best |
| Top 10 Weight | 37.0%Best | 38.2% |
| Fund Family | Global X by mirae Asset | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Jan 12, 2021 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Jan 13, 2021 to Oct 9, 2026 (5.7 years).
ONOF vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 5.7 years both funds cover.
ONOF vs SPY Performance
Global X Adaptive US Risk Management ETF (ONOF) is an ETF from Global X by mirae Asset and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year ONOF returned +13.14% while SPY returned +17.26%. Year to date, ONOF is up 11.19% versus a gain of 14.85% for SPY.
Over three years, ONOF compounded at +14.21% per year against +22.95% for SPY; over five years the annualized figures are +9.26% and +13.89% respectively. Across the full 6-year window we track, SPY has the edge at +14.86% annualized vs +10.58%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.0% compared with 13.9% 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 -24.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 1.20% against 0.98% for SPY.
Holdings Overlap
92.2% of ONOF's money is in holdings SPY also owns. 95.0% of SPY's money is in holdings ONOF also owns.
Most of SPY is already inside ONOF. Owning both mostly buys the same companies twice.
402 positions in common, counted across the 497 positions we hold weights for in ONOF and 504 in SPY, against full books of 1,010 and 1,515.
What only one of them owns
Our book lists 100 positions for SPY that do not appear in our book for ONOF (4.6% of the fund), and 71 for ONOF that do not appear in SPY (5.7%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in ONOF | Weight in SPY | Difference |
|---|---|---|---|
| NVDANvidia Corp | 7.55% | 7.78% | 0.23% |
| AAPLApple, Inc | 7.05% | 7.45% | 0.40% |
| MSFTMicrosoft Corp | 5.38% | 5.71% | 0.33% |
| AMZNAmazon.Com Inc | 3.66% | 3.78% | 0.12% |
| GOOGLAlphabet Inc,class A | 2.94% | 3.12% | 0.18% |
| GOOGAlphabet Inc. C | 2.53% | 2.49% | 0.04% |
| AVGOBroadcom Inc | 2.50% | 2.48% | 0.02% |
| METAMeta Platforms Inc | 2.11% | 2.22% | 0.11% |
| MUMicron Technology, Inc. | 1.63% | 1.59% | 0.04% |
| TSLATesla Inc | 1.66% | 1.54% | 0.12% |
95.0% of SPY is already inside ONOF.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
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, by $30 a year on a $10,000 investment.
Which performed better, ONOF or SPY?
Over the past year ONOF returned +13.14% vs +17.26% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), ONOF annualized +10.58% vs +14.86% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, ONOF or SPY?
SPY has been the more volatile fund at 15.0% annualized versus 13.9% for ONOF. Worst drawdown: ONOF -26.2% vs SPY -24.5%.
Should I hold both ONOF and SPY?
ONOF and SPY have a monthly-return correlation of 0.85, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between ONOF and SPY?
95.0% of SPY's money is in holdings ONOF also owns. 95.0% of SPY's is in holdings ONOF also owns. They hold 402 positions in common, counted across the 497 positions we hold weights for in ONOF and 504 in SPY.
Which pays a higher dividend, ONOF or SPY?
ONOF yields 1.20% while SPY yields 0.98%, so ONOF currently pays the higher dividend yield.
Is SPY better than ONOF?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. ONOF is less concentrated, with 37.0% of the fund in its ten largest positions against 38.2%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.