Core Viewpoint - The State Street SPDR Russell 1000 Yield Focus ETF (ONEY) is a passively managed ETF aimed at providing broad exposure to the Large Cap Value segment of the US equity market, with assets exceeding $841.87 million, positioning it as an average-sized ETF in this category [1]. Group 1: Large Cap Value Characteristics - Large cap companies generally have a market capitalization above $10 billion, characterized by stability and predictable cash flows, making them less volatile compared to mid and small cap companies [2]. - Value stocks, while having lower price-to-earnings and price-to-book ratios, have historically outperformed growth stocks in most markets, although they may underperform during strong bull markets [3]. Group 2: Costs and Performance - The ETF has an annual operating expense ratio of 0.2%, categorizing it as one of the cheaper options in the market, and it offers a 12-month trailing dividend yield of 3.12% [4]. - As of December 29, 2025, the ETF has gained approximately 8.66% year-to-date and 7.51% over the past year, with a trading range between $95.52 and $116.46 in the last 52 weeks [8]. Group 3: Sector Exposure and Holdings - The ETF's largest allocation is to the Industrials sector, comprising about 13.7% of the portfolio, followed by Consumer Staples and Financials [5]. - United Parcel Service Cl B (UPS) represents about 2.23% of total assets, with the top 10 holdings accounting for approximately 13.67% of total assets under management [6]. Group 4: Investment Strategy and Alternatives - The ETF aims to match the performance of the Russell 1000 Yield Focused Factor Index, which includes large-cap U.S. equity securities with high value, high quality, and low size characteristics, focusing on high yield [7]. - Alternatives to this ETF include the Schwab U.S. Dividend Equity ETF (SCHD) and the Vanguard Value ETF (VTV), which track similar indices but have significantly larger asset bases and lower expense ratios [11]. Group 5: Overall Market Position - The ETF holds a Zacks ETF Rank of 3 (Hold), indicating it is a reasonable option for investors seeking exposure to the Large Cap Value segment of the market [10]. - Passively managed ETFs like ONEY are increasingly popular due to their low costs, transparency, flexibility, and tax efficiency, making them suitable for long-term investors [12].

Core Insights - The State Street SPDR Russell 1000 Yield Focus ETF (ONEY) offers broad exposure to the Style Box - Large Cap Value category and debuted on December 2, 2015 [1] Fund Overview - ONEY is managed by State Street Investment Management and has accumulated assets over $837.22 million, positioning it as an average-sized ETF in its category [5] - The fund aims to match the performance of the Russell 1000 Yield Focused Factor Index, which targets large-cap U.S. equity securities with high value, high quality, and low size characteristics [6] Cost and Performance - ONEY has an annual operating expense ratio of 0.20%, making it one of the cheaper options in the market [7] - The fund has a 12-month trailing dividend yield of 3.09% [7] - As of November 14, 2025, the ETF has a return of approximately 5.68% and has increased by about 1.38% year-to-date [11] Sector Exposure and Holdings - The ETF has the largest allocation in the Consumer Staples sector, comprising about 13% of the portfolio, followed by Industrials and Financials [8] - United Parcel Service Cl B (UPS) represents about 2.04% of the fund's total assets, with the top 10 holdings accounting for approximately 13.52% of total assets under management [9] Alternatives - Other ETFs in the same space include Schwab U.S. Dividend Equity ETF (SCHD) and Vanguard Value ETF (VTV), with SCHD having $70.25 billion in assets and VTV at $151.24 billion [13] - SCHD has an expense ratio of 0.06% and VTV has 0.04%, presenting lower-cost alternatives for investors [13]