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Is Invesco Russell 1000 Dynamic Multifactor ETF (OMFL) a Strong ETF Right Now?
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A smart beta exchange traded fund, the Invesco Russell 1000 Dynamic Multifactor ETF (OMFL - Free Report) debuted on 11/08/2017, and offers broad exposure to the Style Box - Large Cap Growth category of the market.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
Investors who believe in market efficiency should consider market cap indexes, as they replicate market returns in a low-cost, convenient, and transparent way.
On the other hand, some investors who believe that it is possible to beat the market by superior stock selection opt to invest in another class of funds that track non-cap weighted strategies--popularly known as smart beta.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
The smart beta space gives investors many different choices, from equal-weighting, one of the simplest strategies, to more complicated ones like fundamental and volatility/momentum based weighting. However, not all of these methodologies have been able to deliver remarkable returns.
Fund Sponsor & Index
Because the fund has amassed over $4.75 billion, this makes it one of the larger ETFs in the Style Box - Large Cap Growth. OMFL is managed by Invesco. OMFL seeks to match the performance of the RUSSELL 1000 INVESCO DYNAMIC MLTIFCTR ID before fees and expenses.
The Russell 1000 Invesco Dynamic Multifactor Index is constructed using a rules-based methodology by selecting equity securities from the Russell 1000 Index, which measures the performance of the 1,000 largest-capitalization companies in the United States.
Cost & Other Expenses
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive cousins if all other fundamentals are the same.
Operating expenses on an annual basis are 0.29% for this ETF, which makes it one of the cheaper products in the space.
The fund has a 12-month trailing dividend yield of 0.75%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
OMFL's heaviest allocation is in the Information Technology sector, which is about 34.9% of the portfolio. Its Healthcare and Industrials round out the top three.
When you look at individual holdings, Nvidia Corp (NVDA) accounts for about 4.49% of the fund's total assets, followed by Apple Inc (AAPL) and Micron Technology Inc (MU).
The top 10 holdings account for about 26.68% of total assets under management.
Performance and Risk
The ETF return is roughly 12.84% and is up roughly 22.72% so far this year and in the past one year (as of 06/17/2026), respectively. OMFL has traded between $55.72 and $69.10 during this last 52-week period.
The fund has a beta of 0.94 and standard deviation of 14.71% for the trailing three-year period. With about 672 holdings, it effectively diversifies company-specific risk .
Alternatives
Invesco Russell 1000 Dynamic Multifactor ETF is a reasonable option for investors seeking to outperform the Style Box - Large Cap Growth segment of the market. However, there are other ETFs in the space which investors could consider.
Vanguard Growth Index Fund ETF Shares (VUG) tracks CRSP U.S. Large Cap Growth Index and the Invesco QQQ (QQQ) tracks NASDAQ-100 Index. Vanguard Growth Index Fund ETF Shares has $225.15 billion in assets, Invesco QQQ has $487.72 billion. VUG has an expense ratio of 0.03% and QQQ changes 0.18%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Growth
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.
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Is Invesco Russell 1000 Dynamic Multifactor ETF (OMFL) a Strong ETF Right Now?
A smart beta exchange traded fund, the Invesco Russell 1000 Dynamic Multifactor ETF (OMFL - Free Report) debuted on 11/08/2017, and offers broad exposure to the Style Box - Large Cap Growth category of the market.
What Are Smart Beta ETFs?
Market cap weighted indexes were created to reflect the market, or a specific segment of the market, and the ETF industry has traditionally been dominated by products based on this strategy.
Investors who believe in market efficiency should consider market cap indexes, as they replicate market returns in a low-cost, convenient, and transparent way.
On the other hand, some investors who believe that it is possible to beat the market by superior stock selection opt to invest in another class of funds that track non-cap weighted strategies--popularly known as smart beta.
By attempting to pick stocks that have a better chance of risk-return performance, non-cap weighted indexes are based on certain fundamental characteristics, or a combination of such.
The smart beta space gives investors many different choices, from equal-weighting, one of the simplest strategies, to more complicated ones like fundamental and volatility/momentum based weighting. However, not all of these methodologies have been able to deliver remarkable returns.
Fund Sponsor & Index
Because the fund has amassed over $4.75 billion, this makes it one of the larger ETFs in the Style Box - Large Cap Growth. OMFL is managed by Invesco. OMFL seeks to match the performance of the RUSSELL 1000 INVESCO DYNAMIC MLTIFCTR ID before fees and expenses.
The Russell 1000 Invesco Dynamic Multifactor Index is constructed using a rules-based methodology by selecting equity securities from the Russell 1000 Index, which measures the performance of the 1,000 largest-capitalization companies in the United States.
Cost & Other Expenses
Cost is an important factor in selecting the right ETF, and cheaper funds can significantly outperform their more expensive cousins if all other fundamentals are the same.
Operating expenses on an annual basis are 0.29% for this ETF, which makes it one of the cheaper products in the space.
The fund has a 12-month trailing dividend yield of 0.75%.
Sector Exposure and Top Holdings
Even though ETFs offer diversified exposure that minimizes single stock risk, investors should also look at the actual holdings inside the fund. Luckily, most ETFs are very transparent products that disclose their holdings on a daily basis.
OMFL's heaviest allocation is in the Information Technology sector, which is about 34.9% of the portfolio. Its Healthcare and Industrials round out the top three.
When you look at individual holdings, Nvidia Corp (NVDA) accounts for about 4.49% of the fund's total assets, followed by Apple Inc (AAPL) and Micron Technology Inc (MU).
The top 10 holdings account for about 26.68% of total assets under management.
Performance and Risk
The ETF return is roughly 12.84% and is up roughly 22.72% so far this year and in the past one year (as of 06/17/2026), respectively. OMFL has traded between $55.72 and $69.10 during this last 52-week period.
The fund has a beta of 0.94 and standard deviation of 14.71% for the trailing three-year period. With about 672 holdings, it effectively diversifies company-specific risk .
Alternatives
Invesco Russell 1000 Dynamic Multifactor ETF is a reasonable option for investors seeking to outperform the Style Box - Large Cap Growth segment of the market. However, there are other ETFs in the space which investors could consider.
Vanguard Growth Index Fund ETF Shares (VUG) tracks CRSP U.S. Large Cap Growth Index and the Invesco QQQ (QQQ) tracks NASDAQ-100 Index. Vanguard Growth Index Fund ETF Shares has $225.15 billion in assets, Invesco QQQ has $487.72 billion. VUG has an expense ratio of 0.03% and QQQ changes 0.18%.
Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Style Box - Large Cap Growth
Bottom Line
To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.