SPDR Russell 1000 Momentum Focus ETF (ONEO) Valuation
ONEO valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 19.4 trailing earnings
- Forward P/E
- 14.2 analyst estimates
- Price / sales
- 1.41
- Price / book
- 2.93
- EV / EBITDA
- 11.7
- Earnings yield
- 5.15% inverse of P/E
- Dividend yield
- 1.53% of the holdings
- Return on equity
- 15.1% combined
- Net margin
- 7.3% combined
- Beta
- 0.95 weighted, vs S&P 500
ONEO valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| ONEO | 19.4 | 14.2 | 1.41 | 2.93 | 1.53% | 15.1% | 7.3% | 2.9% |
| SPY | 25.9 | 19.9 | 3.67 | 5.47 | 1.08% | 21.1% | 14.2% | 1.9% |
| QQQ | 34.2 | 23.4 | 5.93 | 9.27 | 0.58% | 27.1% | 17.4% | 6.9% |
| DIA | 20.9 | 18.4 | 3.16 | 5.52 | 1.55% | 26.4% | 15.1% | 0.0% |
| VTI | 28.2 | 19.4 | 3.31 | 5.00 | 1.07% | 17.7% | 11.8% | 4.6% |
| IWM | n/m | 13.9 | 1.25 | 2.03 | 1.38% | −1.7% | −1.0% | 28.1% |
Same method for every fund. n/m = not meaningful (combined trailing earnings below zero or close to it). Loss-makers = weight of holdings with negative trailing earnings.
ONEO valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Industrials | 16.4% | 24.9 | 16.9 | 1.47 | 4.08 | 1.17% | 16.4% |
| Technology | 16.2% | 24.6 | 17.9 | 2.48 | 4.64 | 0.51% | 18.9% |
| Healthcare | 13.2% | 28.6 | 15.2 | 0.93 | 3.30 | 0.77% | 11.6% |
| Consumer Cyclical | 11.8% | 19.2 | 13.1 | 1.04 | 3.29 | 1.38% | 17.1% |
| Financial Services | 11.0% | 10.9 | 10.9 | 1.91 | 1.93 | 1.79% | 17.7% |
| Energy | 7.4% | 15.1 | 10.9 | 1.77 | 1.95 | 1.86% | 12.9% |
| Consumer Defensive | 6.1% | 26.6 | 14.2 | 0.66 | 3.07 | 2.45% | 11.5% |
| Utilities | 5.4% | 15.3 | 13.4 | 2.09 | 1.80 | 3.45% | 11.7% |
| Basic Materials | 4.9% | 17.5 | 13.3 | 1.95 | 2.98 | 1.92% | 17.0% |
| Real Estate | 3.6% | 19.4 | 20.8 | 3.19 | 2.58 | 4.45% | 13.3% |
| Communication Services | 3.2% | 17.9 | 12.0 | 1.80 | 2.36 | 2.04% | 13.1% |
ONEO earnings yield vs bond yields
Earnings yield = earnings ÷ price (1 ÷ P/E). The gap to bond yields is a rough gauge of the extra return stocks are priced to deliver.
How ONEO weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
ONEO largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| AU | AngloGold Ashanti Limited | 0.72% | 12.4 | 14.5 | 4.0 | 4.87% | 1.14% |
| ALL | The Allstate Corporation | 0.67% | 5.0 | 8.3 | 0.9 | 1.74% | 2.67% |
| ADM | Archer-Daniels-Midland Company | 0.64% | 22.6 | 15.6 | 0.5 | 2.52% | 0.56% |
| EXPE | Expedia Group, Inc. | 0.62% | 18.0 | 11.3 | 2.2 | 0.66% | 0.68% |
| MCK | McKesson Corporation | 0.60% | 26.9 | 19.7 | 0.3 | 0.37% | 0.44% |
| REGN | Regeneron Pharmaceuticals, Inc. | 0.58% | 19.6 | 14.5 | 5.2 | 0.48% | 0.59% |
| CF | CF Industries Holdings, Inc. | 0.54% | 9.0 | 12.2 | 2.4 | 1.99% | 1.19% |
| OVV | Ovintiv Inc. | 0.53% | 19.3 | 9.0 | 2.0 | 1.73% | 0.55% |
| HUM | Humana Inc. | 0.52% | 39.1 | 24.3 | 0.3 | 0.86% | 0.26% |
| DAL | Delta Air Lines, Inc. | 0.51% | 15.0 | 9.2 | 0.7 | 1.14% | 0.67% |
| NEM | Newmont Corporation | 0.51% | 15.0 | 11.6 | 4.8 | 0.88% | 0.67% |
| ZM | Zoom Video Communications, Inc. | 0.51% | 8.7 | 15.1 | 5.5 | — | 1.14% |
| NTAP | NetApp, Inc. | 0.50% | 28.7 | 21.4 | 5.4 | 1.02% | 0.34% |
| UTHR | United Therapeutics Corporation | 0.50% | 19.1 | 16.4 | 7.2 | — | 0.51% |
| YZ8 | Permian Resources Corporation | 0.49% | — | — | — | — | — |
| APA | APA Corporation | 0.49% | 10.4 | 9.4 | 2.0 | 2.03% | 0.94% |
| DVN | Devon Energy Corporation | 0.49% | 11.1 | 9.3 | 3.0 | 2.52% | 0.88% |
| TWLO | Twilio Inc | 0.45% | 33.8 | 43.7 | 6.7 | — | 0.27% |
| COP | ConocoPhillips | 0.44% | 19.4 | 12.7 | 2.7 | 2.29% | 0.45% |
| FTI | TechnipFMC plc | 0.44% | 24.3 | 21.3 | 2.6 | 0.29% | 0.36% |
| SWKS | Skyworks Solutions, Inc. | 0.44% | 41.3 | 17.8 | 4.7 | — | 0.21% |
| CVS | CVS Health Corporation | 0.41% | 24.3 | 10.7 | 0.3 | 2.88% | 0.33% |
| SYF | Synchrony Financial | 0.41% | 7.5 | 6.7 | 2.4 | 1.85% | 1.06% |
| VLO | Valero Energy Corporation | 0.40% | 18.5 | 10.2 | 1.0 | 1.08% | 0.43% |
| ILMN | Illumina, Inc. | 0.40% | 49.0 | 40.3 | 8.8 | — | 0.16% |
Share of earnings = the holding's part of the fund's combined trailing profit. Green: earns more than its weight; orange: less. Symbol links go to each company's key metrics.
About ONEO valuation
Adding up its 910 holdings with company data, ONEO trades at 19.4 times trailing earnings and 14.2 times analysts' forward estimates, with a price-to-book ratio of 2.93 and a dividend yield of 1.53%. Its earnings yield of 5.15% is 0.17 percentage points below the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 5.9% of the fund and earn 8.7% of its combined profit. By sector, Healthcare is the most expensive at 28.6 times earnings and Financial Services the cheapest at 10.9. Companies that lost money over the past year are 2.9% of the covered weight.
How these figures are calculated. Each ratio treats the fund as one company: the earnings, sales and book value of every holding are added up in proportion to its weight and divided into the fund's price. In practice that is a weighted harmonic mean, so a single stock with a very high P/E cannot distort the result, and loss-making companies reduce the fund's earnings instead of being dropped. Covers 98.7% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: ONEO chart, ONEO performance, ONEO holdings, ONEO dividends.
ONEO valuation FAQ
What is the P/E ratio of ONEO?
Based on its holdings, ONEO has a trailing P/E of 19.4 and a forward P/E of 14.2 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of ONEO?
The trailing earnings yield is 5.15% (1 ÷ P/E) and the forward earnings yield 7.02%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is ONEO more expensive than the S&P 500?
ONEO trades at 19.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 14.2 and 19.9.
What is the price-to-book ratio of ONEO?
The holdings of ONEO trade at 2.93 times book value, with a combined return on equity of 15.1%.
Which sector in ONEO has the highest P/E?
Healthcare has the highest P/E at 28.6 and Financial Services the lowest at 10.9.