HYGV vs. OMFL

Last updated Jun 12, 2026

HYGV (FlexShares High Yield Value-Scored US Bond Index Fund) and OMFL (Invesco Russell 1000 Dynamic Multifactor ETF) are both exchange-traded funds - HYGV is a High Yield Bonds fund tracking the Northern Trust High Yield Value-Scored US Corporate Bond Index, while OMFL is a Large Cap Blend Equities fund tracking the Russell 1000 Invesco Dynamic Multifactor Index. Both are passively managed. Over the past 5 years, HYGV returned 3.44%/yr vs 8.96%/yr for OMFL. A 0.68 correlation means they provide meaningful diversification when combined. HYGV charges 0.37%/yr vs 0.29%/yr for OMFL.

Performance

HYGV vs. OMFL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares High Yield Value-Scored US Bond Index Fund (HYGV) and Invesco Russell 1000 Dynamic Multifactor ETF (OMFL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HYGV achieves a 1.71% return, which is significantly lower than OMFL's 11.16% return.

HYGV

• 1D: 0.53%
• 1M: 0.72%
• YTD: 1.71%
• 6M: 1.99%
• 1Y: 6.90%
• 3Y*: 8.43%
• 5Y*: 3.44%
• 10Y*: —

OMFL

• 1D: 1.70%
• 1M: 0.98%
• YTD: 11.16%
• 6M: 9.67%
• 1Y: 20.69%
• 3Y*: 13.67%
• 5Y*: 8.96%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

HYGV vs. OMFL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
HYGV FlexShares High Yield Value-Scored US Bond Index Fund	1.71%	7.92%	8.02%	12.11%	-12.60%	5.93%	8.01%	15.76%	-4.15%
OMFL Invesco Russell 1000 Dynamic Multifactor ETF	11.16%	13.68%	6.82%	21.53%	-13.97%	28.95%	20.91%	35.58%	-7.88%

Correlation

The correlation between HYGV and OMFL is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jul 18, 2018	0.68

The correlation between HYGV and OMFL has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.

HYGV vs. OMFL - Sectors Allocation Comparison

Sectors	HYGV	OMFL
Energy	100.0%	3.7%
Basic Materials	-	2.5%
Communication Services	-	11.7%
Consumer Cyclical	-	9.5%
Consumer Defensive	-	8.8%
Financial Services	-	11.5%
Healthcare	-	10.4%
Industrials	-	9.8%
Real Estate	-	0.8%
Technology	-	31.0%
Utilities	-	0.4%

Return for Risk

HYGV vs. OMFL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

HYGV

HYGV Risk / Return Rank: 68
HYGV Sharpe Ratio Rank: 65
HYGV Sortino Ratio Rank: 73
HYGV Omega Ratio Rank: 69
HYGV Calmar Ratio Rank: 62
HYGV Martin Ratio Rank: 71

OMFL

OMFL Risk / Return Rank: 64
OMFL Sharpe Ratio Rank: 60
OMFL Sortino Ratio Rank: 60
OMFL Omega Ratio Rank: 59
OMFL Calmar Ratio Rank: 65
OMFL Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

HYGV vs. OMFL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares High Yield Value-Scored US Bond Index Fund (HYGV) and Invesco Russell 1000 Dynamic Multifactor ETF (OMFL). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	HYGV	OMFL	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.68	+0.10
Sortino ratio: Return per unit of downside risk	2.74	2.34	+0.40
Omega ratio: Gain probability vs. loss probability	1.34	1.30	+0.04
Calmar ratio: Return relative to maximum drawdown	2.58	2.74	-0.16
Martin ratio: Return relative to average drawdown	11.11	12.17	-1.07

HYGV vs. OMFL - Sharpe Ratio Comparison

The current HYGV Sharpe Ratio is 1.78, which is comparable to the OMFL Sharpe Ratio of 1.68. The chart below compares the historical Sharpe Ratios of HYGV and OMFL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

HYGV vs. OMFL - Drawdown Comparison

The maximum HYGV drawdown since its inception was -23.47%, smaller than the maximum OMFL drawdown of -33.24%. Use the drawdown chart below to compare losses from any high point for HYGV and OMFL.

Drawdown Indicators

	HYGV	OMFL	Difference
Max Drawdown Largest peak-to-trough decline	-23.47%	-33.24%	+9.77%
Max Drawdown (1Y) Largest decline over 1 year	-2.68%	-7.58%	+4.90%
Max Drawdown (3Y) Largest decline over 3 years	-5.56%	-15.52%	+9.96%
Max Drawdown (5Y) Largest decline over 5 years	-17.12%	-22.44%	+5.32%
Current Drawdown Current decline from peak	0.00%	-1.65%	+1.65%
Average Drawdown Average peak-to-trough decline	-3.31%	-4.79%	+1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.62%	1.70%	-1.08%

Volatility

HYGV vs. OMFL - Volatility Comparison

The current volatility for FlexShares High Yield Value-Scored US Bond Index Fund (HYGV) is 1.20%, while Invesco Russell 1000 Dynamic Multifactor ETF (OMFL) has a volatility of 3.69%. This indicates that HYGV experiences smaller price fluctuations and is considered to be less risky than OMFL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HYGV	OMFL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.20%	3.69%	-2.49%
Volatility (6M) Calculated over the trailing 6-month period	3.08%	9.93%	-6.85%
Volatility (1Y) Calculated over the trailing 1-year period	3.90%	12.38%	-8.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.59%	16.80%	-9.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.19%	20.10%	-10.91%

HYGV vs. OMFL - Expense Ratio Comparison

HYGV has a 0.37% expense ratio, which is higher than OMFL's 0.29% expense ratio.

Dividends

HYGV vs. OMFL - Dividend Comparison

HYGV's dividend yield for the trailing twelve months is around 7.38%, more than OMFL's 0.76% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
HYGV FlexShares High Yield Value-Scored US Bond Index Fund	7.38%	7.48%	8.20%	8.77%	7.64%	6.07%	6.18%	7.95%	5.63%	0.00%
OMFL Invesco Russell 1000 Dynamic Multifactor ETF	0.76%	0.80%	1.22%	1.37%	1.55%	0.95%	1.48%	1.53%	1.39%	0.32%

Frequently Asked Questions

Can I hold both HYGV and OMFL in my portfolio?

HYGV and OMFL have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HYGV or OMFL?

OMFL has higher volatility (3.69%) compared to HYGV (1.20%). In terms of maximum drawdown, HYGV dropped -23.47% vs OMFL's -33.24%.

Which ETF is better, HYGV or OMFL?

On 5-year performance, OMFL leads with 8.96% vs 3.44% for HYGV. On fees, OMFL is cheaper at 0.29% per year. On volatility, HYGV has been the lower-risk option at 1.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HYGV or OMFL?

Over the 5-year period, OMFL has performed better with a 8.96% return vs 3.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HYGV or OMFL?

OMFL is cheaper with a 0.29% expense ratio, compared with 0.37% for HYGV.

Which ETF pays a higher dividend yield, HYGV or OMFL?

HYGV has the higher dividend yield at 7.38%, compared with 0.76% for OMFL.

What is the main difference between HYGV and OMFL?

HYGV is categorized as High Yield Bonds, while OMFL is Large Cap Blend Equities. HYGV tracks Northern Trust High Yield Value-Scored US Corporate Bond Index, while OMFL tracks Russell 1000 Invesco Dynamic Multifactor Index. They also come from different issuers: Northern Trust and Invesco. Their fees differ too: 0.37% for HYGV and 0.29% for OMFL.

Which has better risk-adjusted returns?

HYGV currently has the higher Sharpe Ratio (1.78 vs 1.68), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.