ONEY(ONEY)
AI Look-Through Summary
AI GeneratedThe portfolio's sector allocation reveals a moderate bias towards growth-oriented sectors, with Financial Services and Consumer Cyclical contributing significantly to the overall mix. However, this is tempered by substantial exposures to defensive sectors like Utilities, Real Estate, and Consumer Defensive, which suggests a cautious approach to market volatility. Geographically, the fund's holdings are predominantly US-centric, with no notable international exposure.
The top 10 holdings exhibit a moderate concentration risk, with Procter & Gamble (PGR) being the largest single stock at approximately 4% of the portfolio. The sector mix diverges from the broader market, which may be beneficial in certain economic conditions. A favorable macro environment for this fund would likely involve sustained growth in consumer spending and moderate inflation, allowing the Financial Services and Consumer Cyclical sectors to shine. Conversely, a sharp downturn in these sectors or an increase in interest rates could negatively impact the portfolio's performance.
Generated by Qwen-32B from constituent-level data. Not investment advice. Updated: 2026-07-14 09:47:20.194439+00
🔍 Theme Alignment Audit
AI GeneratedPurity: 45/100The investment theme implied by the name ONEY suggests a singular focus on currency, cash equivalents, or financial instruments related to money management. However, the actual portfolio composition reveals a significant divergence from this expectation, as the top holdings are dominated by diversified industrial giants like United Parcel Service and FedEx alongside major energy producers such as EOG Resources and Devon Energy. These companies operate primarily in logistics, transportation, and upstream oil exploration rather than financial services or monetary assets. The presence of consumer staples like Target and Altria further dilutes any potential thematic link to finance or currency, indicating that the fund's holdings are drawn from broad economic sectors unrelated to its stated identity.
Sector analysis indicates a lack of coherence with a pure financial theme, as energy and industrials collectively represent nearly 20% of the portfolio while technology remains minimal at just one percent. The sector weights show a balanced exposure across consumer defensives, utilities, and real estate, which mirrors a broad market index structure rather than a specialized thematic strategy designed to isolate specific risks or opportunities within the financial domain. With a top-ten concentration of only 16%, the fund exhibits low idiosyncratic risk but also lacks the distinctiveness expected from a niche ETF, suggesting it functions more as a generalist vehicle disguised under a misleading label rather than a true thematic investment vehicle focused on currency or cash equivalents.
AI analysis of holdings alignment vs fund theme. Not investment advice. Updated: 2026-05-22 19:26:32.755007+00
🏢 Sector Analysis
AI GeneratedThe ONEY ETF exhibits a distinct defensive orientation, characterized by significant overweights in Consumer Defensive, Energy, and Utilities sectors which collectively account for nearly one-third of the portfolio. This allocation suggests an investment thesis centered on capital preservation and income generation rather than aggressive growth, as evidenced by the minimal exposure to Technology (1.0%) and Communication Services (1.2%). The heavy presence in utilities and consumer staples indicates a strategy designed to weather economic volatility by focusing on non-discretionary spending and essential services, while substantial energy holdings provide an additional layer of inflation hedging through commodity-linked equities like EOG and DVN appearing among the top five positions.
Despite the broad sector diversification across eleven categories, concentration risk remains notable within specific industry verticals rather than at the fund level, where the top ten holdings represent only 16% of assets. However, the Energy sector's dominance in the top five rankings—occupying three spots with combined weightings exceeding 5%—creates a localized vulnerability to oil price fluctuations and regulatory shifts affecting upstream operators like SLB. The relatively small number of holdings in high-growth sectors such as Healthcare (five names) and Technology further limits potential upside during periods of innovation-driven market rallies, reinforcing the fund's role as a stable core holding rather than an alpha generator for growth seekers.
Factor tilts implied by this structure likely favor value and low volatility characteristics over momentum or quality factors typically associated with tech-heavy indices. The inclusion of industrials like UPS alongside defensive consumer names suggests a blend seeking steady earnings visibility, yet the narrow representation in communication services may dampen exposure to digital transformation trends. Ultimately, the portfolio construction reflects a deliberate choice to prioritize stability through established businesses with predictable cash flows, accepting lower growth potential as a trade-off for reduced sensitivity to macroeconomic downturns and market corrections.
AI-generated sector analysis from constituent-level data. Not investment advice. Updated: 2026-05-22 16:40:32.998711+00
Flow Driver Analysis
2-Step CircleWhich larger ETFs share ONEY's holdings — and mechanically drive its price through index rebalancing flows?
Approximately 100% of ONEY's weight flows through these larger ETFs
| Driver ETF | AUM | Expense | Shared Stocks | Weight Overlap |
|---|---|---|---|---|
| ONEOONEO | $25M | — | 298 | 99.3% |
| SPTMSPTM | $12B | — | 281 | 95.5% |
| ONEVONEV | $522M | — | 250 | 82.6% |
| VYMVanguard High Dividend Yield Index Fund ETF Shares | $90B | — | 224 | 82.3% |
| SPLGSPLG | $97B | — | 146 | 71.9% |
99% of ONEY's portfolio by weight is also held by ONEO. When ONEO receives inflows, it mechanically buys these shared stocks — dragging ONEY's NAV along regardless of any thematic or sector catalyst. Combined, the top 5 overlapping ETFs control exposure to 100% ofONEY's weight.
Overlap computed from constituent-level holdings data across 5 ETFs. Price co-movement with driver ETFs is structural, not coincidental. Not investment advice.
ETF Look-Through Dashboard
Peer through the ETF wrapper to see exactly what you own. Every metric is computed from constituent-level data.
Weighted metrics calculated based on 89% of fund assets with available data.
Herfindahl-Hirschman Concentration Index
Morningstar-Style Box
Sector & Cap Explorer
ETF Fundamental Radar
Operational health is mixed, with the bulk of weight in the mid-range (4–6) Piotroski scores.
Piotroski F-Score (Operational Health)
Score 0-9: Measures Profitability, Leverage, and Efficiency
Based on 87% of fund weight with Piotroski data.
Computed by rolling up individual stock Piotroski F-Scores, Altman Z-Scores, and Beneish M-Scores weighted by each constituent's allocation.
Dividend Safety True-Up
DeterministicThe dividend-paying companies inside ONEY collectively pay out 129% of their Free Cash Flow to maintain the current yield. Warning: constituent companies are paying out nearly all cash flow. A wave of dividend cuts may be imminent if earnings decline. Based on 68% of fund weight in dividend-paying stocks.
FCF Payout Ratio = Dividends Paid / Free Cash Flow, weighted by constituent allocation. Not investment advice.
Earnings vs. Price Decomposition
ProprietaryONEY is up 21.8% over the last 12 months. The underlying weighted earnings growth of its constituents is +15.5%. The remaining +6.3% of performance is driven by multiple expansion (P/E inflation) — prices rose faster than earnings grew.
Earnings growth = weighted average YoY EPS growth of all constituents (capped at ±500% to limit outlier distortion). Based on 85% of fund weight with earnings data. Not investment advice.
Value Creation Map
ROIC vs WACCWhat percentage of ONEY's weight is allocated to companies that create economic value (ROIC > WACC) vs. destroy it?
Of ONEY's analyzed weight, 54% is invested in companies earning more than their cost of capital — genuine value creators. The remaining 46% consists of companies whose ROIC falls below their WACC, effectively destroying shareholder value with every dollar invested.
ROIC-WACC spread for 79% of fund weight with available data. Not investment advice.
Passive Crowding Score
MODERATEHow much of each constituent's market cap is structurally locked in passive ETFs — a proxy for liquidity fragility during sell-offs.
ONEY has a Passive Crowding Score of 49/100. On average, 14.7% of the market capitalization of ONEY's underlying holdings is structurally locked in passive ETF vehicles. This indicates moderate passive ownership density. Index rebalances and ETF creation/redemption activity can amplify short-term volatility in the underlying holdings.
Passive $ = Σ(ETF AUM × holding weight) across all 34 tracked ETFs. Actual passive ownership is higher (includes mutual funds, pension funds). Not investment advice.
Under the Hood — Top 15 Constituents
| # | Ticker | Company | Weight | P/E | F-Score |
|---|---|---|---|---|---|
| 1 | PGR | PROGRESSIVE CORP Financial Services | 3.43% | 10.3x | 5/9 |
| 2 | CMCSA | COMCAST CORP CLASS A Communication Services | 2.15% | 4.7x | 8/9 |
| 3 | ALL | ALLSTATE CORP Financial Services | 1.78% | 5.3x | 4/9 |
| 4 | UPS | UNITED PARCEL SERVICE CL B Industrials | 1.60% | 19.0x | 6/9 |
| 5 | CI | THE CIGNA GROUP Healthcare | 1.47% | 12.0x | 6/9 |
| 6 | OKE | ONEOK INC Energy | 1.42% | 16.6x | 6/9 |
| 7 | EOG | EOG RESOURCES INC Energy | 1.39% | 13.6x | 3/9 |
| 8 | ACN | ACCENTURE PLC CL A Technology | 1.24% | 11.6x | 5/9 |
| 9 | AU | ANGLOGOLD ASHANTI PLC Basic Materials | 1.11% | 11.2x | 8/9 |
| 10 | MO | ALTRIA GROUP INC Consumer Defensive | 1.04% | 15.2x | 6/9 |
| 11 | TGT | TARGET CORP Consumer Defensive | 1.02% | 18.5x | 6/9 |
| 12 | ADM | ARCHER DANIELS MIDLAND CO Consumer Defensive | 1.01% | 37.0x | 4/9 |
| 13 | SPG | SIMON PROPERTY GROUP INC Real Estate | 0.99% | 15.9x | 4/9 |
| 14 | KR | KROGER CO Consumer Defensive | 0.94% | 34.2x | 6/9 |
| 15 | ZTS | ZOETIS INC Healthcare | 0.93% | 12.6x | 6/9 |
Historical Holdings Snapshots
Browse how ONEY’s holdings have changed across SEC filing dates. Showing top holdings per snapshot.
2026-07-18
15 holdings · 21.5% tracked weight2026-07-17
15 holdings · 21.7% tracked weight2026-07-16
15 holdings · 22.0% tracked weight2026-07-15
15 holdings · 22.2% tracked weight2026-07-14
15 holdings · 22.1% tracked weight2026-07-13
15 holdings · 22.1% tracked weightSource: SEC filings and fund provider disclosures. Shows last 6 snapshot dates, top 15 holdings per date by weight.
Risk Profile
Sharpe = risk-adjusted return (higher is better). Computed from 1,200+ trading days with 5% risk-free rate.
Price Chart with Moving Averages
What Drove ONEY Today?
Daily return attribution — which holdings contributed most (and least) to the fund's move.
Underwater (Drawdown from Peak)
How far below the all-time high the price has been over time. Deeper = more pain for holders.
Rolling 60-Day Beta vs S&P 500 (VOO)
How the ETF's sensitivity to market moves changes over time. β > 1 = more volatile than the market.
Yield & Income
Sector Drift Over Time
How ONEY’s sector allocation has shifted across snapshots. Use the slider to travel through time.
Active Conviction Tracker
Shares bought and sold between the latest two data snapshots — reveals what the fund manager is actually doing.
Positions Increased (1)
Positions Decreased (50)
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Quant metrics computed deterministically from financial statements and price data. Updated: 2026-07-17.
SecuritiesDB is for informational purposes only. Not investment advice.