SPDR Russell 1000 Low Volatility Focus ETF (ONEV) Valuation
ONEV valuation today
Holdings combined · company data as of Oct 26, 2026- P/E (TTM)
- 17.4 trailing earnings
- Forward P/E
- 13.7 analyst estimates
- Price / sales
- 1.28
- Price / book
- 2.61
- EV / EBITDA
- 11.4
- Earnings yield
- 5.75% inverse of P/E
- Dividend yield
- 1.95% of the holdings
- Return on equity
- 15.0% combined
- Net margin
- 7.4% combined
- Beta
- 0.72 weighted, vs S&P 500
ONEV valuation vs other stock ETFs
| ETF | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE | Net margin | Loss-makers |
|---|---|---|---|---|---|---|---|---|
| ONEV | 17.4 | 13.7 | 1.28 | 2.61 | 1.95% | 15.0% | 7.4% | 1.9% |
| 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.
ONEV valuation by sector
| Sector | Weight | P/E | Fwd P/E | P/S | P/B | Div. yield | ROE |
|---|---|---|---|---|---|---|---|
| Financial Services | 17.5% | 10.4 | 11.1 | 1.71 | 2.02 | 1.51% | 19.5% |
| Industrials | 16.3% | 23.9 | 17.3 | 1.76 | 4.17 | 1.38% | 17.5% |
| Healthcare | 13.8% | 22.6 | 14.4 | 0.79 | 3.07 | 0.83% | 13.6% |
| Consumer Cyclical | 10.5% | 16.5 | 13.4 | 1.01 | 3.06 | 1.85% | 18.5% |
| Technology | 10.4% | 19.2 | 13.2 | 2.01 | 3.25 | 1.11% | 16.9% |
| Consumer Defensive | 9.1% | 40.6 | 13.4 | 0.62 | 2.71 | 2.90% | 6.7% |
| Real Estate | 7.4% | 19.2 | 20.0 | 4.10 | 2.51 | 4.79% | 13.0% |
| Utilities | 7.3% | 16.9 | 14.3 | 2.29 | 1.76 | 3.44% | 10.4% |
| Communication Services | 2.4% | 13.9 | 9.9 | 1.11 | 1.43 | 2.77% | 10.3% |
| Basic Materials | 2.3% | 16.7 | 14.5 | 1.69 | 2.69 | 1.85% | 16.1% |
| Energy | 2.1% | 12.1 | 10.9 | 2.08 | 1.75 | 2.37% | 14.5% |
ONEV 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 ONEV weight splits by P/E
Share of the covered weight in companies with a trailing P/E in each range.
ONEV largest holdings: valuation
| Symbol | Company | Weight | P/E | Fwd P/E | P/S | Div. yield | Share of earnings |
|---|---|---|---|---|---|---|---|
| ALL | The Allstate Corporation | 1.45% | 5.0 | 8.3 | 0.9 | 1.74% | 5.21% |
| PGR | The Progressive Corporation | 1.27% | 11.0 | 12.7 | 1.4 | 0.18% | 2.04% |
| MCK | McKesson Corporation | 1.24% | 26.9 | 19.7 | 0.3 | 0.37% | 0.82% |
| CTSH | Cognizant Technology Solutions Corporation | 0.94% | 14.2 | 9.4 | 1.4 | 2.00% | 1.18% |
| ACGL | Arch Capital Group Ltd. | 0.92% | 7.9 | 9.6 | 1.8 | — | 2.06% |
| TRV | The Travelers Companies, Inc. | 0.90% | 10.5 | 10.8 | 1.7 | 1.28% | 1.53% |
| CI | Cigna Corporation | 0.90% | 12.5 | 8.3 | 0.3 | 2.06% | 1.27% |
| KR | The Kroger Co. | 0.79% | 35.4 | 11.3 | 0.3 | 2.45% | 0.40% |
| HIG | The Hartford Financial Services Group, Inc. | 0.77% | 9.6 | 9.2 | 1.2 | 1.78% | 1.44% |
| CINF | Cincinnati Financial Corporation | 0.76% | 8.1 | 18.5 | 1.9 | 2.20% | 1.67% |
| MRSH | Marsh & McLennan Companies, Inc. | 0.69% | 22.5 | 15.0 | 3.2 | 2.10% | 0.54% |
| ELV | Elevance Health Inc. | 0.69% | 19.0 | 13.7 | 0.5 | 1.61% | 0.64% |
| ADM | Archer-Daniels-Midland Company | 0.64% | 22.6 | 15.6 | 0.5 | 2.52% | 0.50% |
| SPG | Simon Property Group, Inc. | 0.63% | 14.5 | 30.7 | 11.2 | 4.33% | 0.78% |
| CMCSA | Comcast Corporation | 0.63% | 7.1 | 5.9 | 0.6 | 6.03% | 1.59% |
| BR | Broadridge Financial Solutions, Inc. | 0.62% | 18.2 | 15.5 | 2.6 | 2.49% | 0.60% |
| DGX | Quest Diagnostics Incorporated | 0.62% | 24.6 | 19.5 | 2.2 | 1.46% | 0.45% |
| EXPD | Expeditors International of Washington, Inc. | 0.61% | 28.5 | 24.4 | 2.1 | 0.83% | 0.38% |
| REGN | Regeneron Pharmaceuticals, Inc. | 0.60% | 19.6 | 14.5 | 5.2 | 0.48% | 0.55% |
| TROW | T. Rowe Price Group, Inc. | 0.59% | 10.1 | 10.2 | 2.8 | 5.15% | 1.04% |
| VRSN | VeriSign, Inc. | 0.57% | 32.7 | 27.0 | 16.0 | 1.07% | 0.31% |
| EQR | Equity Residential | 0.56% | — | — | — | — | — |
| WTW | Willis Towers Watson Public Limited Company | 0.55% | 19.5 | 13.1 | 2.9 | 1.22% | 0.50% |
| HCA | HCA Healthcare, Inc. | 0.54% | 15.4 | 13.9 | 1.3 | 0.68% | 0.63% |
| GIS | General Mills, Inc. | 0.53% | — | 11.5 | 1.0 | 7.36% | −0.47% |
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 ONEV valuation
Adding up its 438 holdings with company data, ONEV trades at 17.4 times trailing earnings and 13.7 times analysts' forward estimates, with a price-to-book ratio of 2.61 and a dividend yield of 1.95%. Its earnings yield of 5.75% is 0.42 points above the 5.33% yield to maturity of the U.S. bond market (AGG).
The ten largest holdings are 9.9% of the fund and earn 17.6% of its combined profit. By sector, Consumer Defensive is the most expensive at 40.6 times earnings and Financial Services the cheapest at 10.4. Companies that lost money over the past year are 1.9% 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 98.6% of the fund's weight (U.S.-listed stocks with company data); company figures as of October 26, 2026.
Related: ONEV chart, ONEV performance, ONEV holdings, ONEV dividends.
ONEV valuation FAQ
What is the P/E ratio of ONEV?
Based on its holdings, ONEV has a trailing P/E of 17.4 and a forward P/E of 13.7 (earnings of all covered holdings combined in proportion to their weights, as of October 26, 2026).
What is the earnings yield of ONEV?
The trailing earnings yield is 5.75% (1 ÷ P/E) and the forward earnings yield 7.29%. For comparison the U.S. bond market (AGG) yields 5.33% to maturity and T-bills about 3.91%.
Is ONEV more expensive than the S&P 500?
ONEV trades at 17.4 times trailing earnings versus 25.9 for the S&P 500 (SPY); on forward estimates the figures are 13.7 and 19.9.
What is the price-to-book ratio of ONEV?
The holdings of ONEV trade at 2.61 times book value, with a combined return on equity of 15.0%.
Which sector in ONEV has the highest P/E?
Consumer Defensive has the highest P/E at 40.6 and Financial Services the lowest at 10.4.