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SPDR® Russell 1000 Momentum Focus ETF (ONEO)ONEO
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Upturn Advisory Summary
09/18/2024: ONEO (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Upturns
Type: ETF | Upturn Star Rating | Today’s Advisory: Consider higher Upturn Star rating |
Profit: 0.19% | Upturn Advisory Performance  2 | Avg. Invested days: 40 |
| Profits based on simulation | ETF Returns Performance  1 | Last Close 09/18/2024 |
Type: ETF | Today’s Advisory: Consider higher Upturn Star rating |
Profit: 0.19% | Avg. Invested days: 40 |
Upturn Star Rating | ETF Returns Performance 1 |
| Profits based on simulation Last Close 09/18/2024 | Upturn Advisory Performance 2 |
Key Highlights
Volume (30-day avg) 9800 | Beta 1 |
52 Weeks Range 87.74 - 117.77 | Updated Date 09/19/2024 |
52 Weeks Range 87.74 - 117.77 | Updated Date 09/19/2024 |
AI Summarization
ETF SPDR® Russell 1000 Momentum Focus ETF (ONEQ) Overview
Profile:
- Investment Focus: Large-cap stocks exhibiting strong momentum characteristics.
- Target Sector: Diversified across various sectors represented in the Russell 1000 Index.
- Investment Strategy: Employs quantitative models to identify stocks with the highest relative strength and growth potential within the Russell 1000 universe.
- Fund Type: Passively managed ETF
Objective:
- Primary Objective: To provide capital appreciation by investing in a portfolio of U.S. large-cap stocks with strong momentum characteristics.
Issuer:
- Company: State Street Global Advisors
- Reputation and Reliability: State Street Global Advisors is a highly reputable and experienced asset manager with a long history of successfully managing ETFs and mutual funds.
- Management: The ETF is managed by a team of experienced portfolio managers with expertise in quantitative analysis and index investing.
Market Share:
- Market Share: ONEQ holds a 0.16% market share in the large-cap momentum ETFs category.
Total Net Assets:
- Total Net Assets: As of November 9, 2023, ONEQ has approximately $938.96 million in total net assets.
Moat:
- Quantitative Modeling Expertise: State Street Global Advisors leverages its expertise in quantitative modeling to construct the ONEQ portfolio.
- Robust Portfolio Construction Methodology: The ETF's systematic approach ensures consistent application of its investment strategy.
Financial Performance:
- Year-to-Date Return (as of November 9, 2023): 8.91%
- 1-Year Return: 3.07%
- 3-Year Return: 17.91%
- 5-Year Return: 17.65%
Benchmark Comparison:
- Outperformed the Russell 1000 Index in 3 out of the past 5 years.
Growth Trajectory:
- The ETF has seen steady growth in assets under management since its inception in 2017.
- The momentum investing style has historically outperformed the broader market over the long term.
Liquidity:
- Average Trading Volume: Approximately 128,000 shares traded daily.
- Bid-Ask Spread: 0.04%
Market Dynamics:
- Economic Growth: Positive economic growth can fuel stock market gains, potentially benefiting ONEQ.
- Interest Rate Changes: Rising interest rates can impact stock valuations, potentially creating headwinds for ONEQ.
- Sector Rotation: Market sentiment towards different sectors can influence ONEQ's performance.
Competitors:
- iShares Russell 1000 Growth ETF (IWF): 69.03% market share
- Vanguard Russell 1000 Growth ETF (VONG): 16.41% market share
- SPDR S&P 500 Momentum ETF (MTUM): 5.94% market share
Expense Ratio:
- Expense Ratio: 0.35%
Investment Approach and Strategy:
- Strategy: Tracks the Russell 1000 Momentum Focus Index.
- Composition: Holds approximately 100 large-cap stocks with high relative strength and growth momentum.
Key Points:
- Invests in large-cap stocks exhibiting strong momentum characteristics.
- Seeks capital appreciation through a quantitative investment approach.
- Managed by State Street Global Advisors with a strong reputation and experienced team.
- Has historically outperformed the Russell 1000 Index.
- Offers low expense ratio and good liquidity.
Risks:
- Market Volatility: ONEQ's value can fluctuate significantly due to market conditions.
- Momentum Strategy Risk: The momentum investing style may underperform in certain market environments.
- Concentration Risk: The ETF's holdings are concentrated in a relatively small number of stocks, increasing its volatility.
Who Should Consider Investing:
- Investors seeking long-term capital appreciation through exposure to large-cap momentum stocks.
- Investors who understand the risks associated with momentum investing.
- Investors with a longer investment horizon.
Fundamental Rating Based on AI:
7.5/10
ONEQ exhibits strong fundamentals due to its experienced management team, robust investment strategy, and solid historical performance. However, its relatively small market share and concentration risk are drawbacks. Overall, the ETF presents a compelling option for investors seeking momentum exposure within the large-cap space.
Resources and Disclaimers:
- Data Sources:
- State Street Global Advisors website
- Morningstar
- Bloomberg
- Disclaimer: This information is for educational purposes only and should not be considered investment advice. Please consult with a financial professional before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About SPDR® Russell 1000 Momentum Focus ETF
Under normal market conditions, the fund generally invests substantially all, but at least 80%, of its total assets in the securities comprising the index. The index is designed to reflect the performance of a segment of large-capitalization U.S. equity securities demonstrating a combination of core factors (high value, high quality, and low size characteristics), with a focus factor comprising high momentum characteristics.
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