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Mirror-accelerated parity - Two-way mirror:

Storage efficiency: 50 percent

Tolerate: One hardware problem

Three-way mirror:

Storage efficiency: 33.3 percent

Tolerate: Two hardware problems

Expected result:

If the volume isn't created properly (see screen below), especially in a single node deployment I observed this several times, then you can switch to provisioning via PowerShell.

The PowerShell - Way:

# CSV creation directly on the node:
New-Volume -FriendlyName "VMStore" -Size 1TB -ProvisioningType Thin


Fault tolerance and storage efficiency on Azure Stack HCI and Windows Server clusters - Azure Stack HCI
A discussion of resiliency options in Storage Spaces Direct including mirroring and parity.