OMFS vs. IWO

Last updated Jul 12, 2026

OMFS (Invesco Russell 2000 Dynamic Multifactor ETF) and IWO (iShares Russell 2000 Growth ETF) are both exchange-traded funds - OMFS is a Small Cap Value Equities fund tracking the Russell 2000 Invesco Dynamic Multifactor Index, while IWO is a Small Cap Growth Equities fund tracking the Russell 2000 Growth Index. Both are passively managed. Over the past 5 years, OMFS returned 6.99%/yr vs 5.22%/yr for IWO. Their correlation of 0.80 suggests significant overlap in exposure. OMFS charges 0.39%/yr vs 0.24%/yr for IWO.

Performance

OMFS vs. IWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Russell 2000 Dynamic Multifactor ETF (OMFS) and iShares Russell 2000 Growth ETF (IWO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with OMFS having a 19.80% return and IWO slightly lower at 19.27%.

OMFS

• 1D: -0.27%
• 1M: 2.34%
• 6M: 14.40%
• YTD: 19.80%
• 1Y: 31.40%
• 3Y*: 15.31%
• 5Y*: 6.99%
• 10Y*: —

IWO

• 1D: -1.07%
• 1M: 1.25%
• 6M: 12.52%
• YTD: 19.27%
• 1Y: 33.92%
• 3Y*: 17.01%
• 5Y*: 5.22%
• 10Y*: 11.11%

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

OMFS vs. IWO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OMFS Invesco Russell 2000 Dynamic Multifactor ETF	19.80%	13.34%	3.98%	15.12%	-17.29%	28.60%	15.02%	27.12%	-9.01%	3.83%
IWO iShares Russell 2000 Growth ETF	19.27%	12.90%	15.04%	18.51%	-26.27%	2.54%	34.68%	28.48%	-9.43%	4.75%

Correlation

The correlation between OMFS and IWO is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Nov 10, 2017	0.80

The correlation between OMFS and IWO shifts across timeframes, from 0.80 (all time) to 0.91 (1 year), reflecting how their relationship changes across market environments.

OMFS vs. IWO - Sectors Allocation Comparison

Sectors	OMFS	IWO
Financial Services	25.2%	7.8%
Healthcare	13.1%	21.9%
Technology	11.4%	25.9%
Real Estate	10.7%	2.0%
Industrials	10.3%	23.0%
Consumer Cyclical	7.9%	7.0%
Consumer Defensive	2.8%	2.3%
Energy	2.8%	3.1%
Basic Materials	2.1%	4.0%
Communication Services	0.7%	2.2%
Utilities	0.6%	0.6%

Return for Risk

OMFS vs. IWO — Risk / Return Rank

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

OMFS

OMFS Risk / Return Rank: 68
OMFS Sharpe Ratio Rank: 63
OMFS Sortino Ratio Rank: 67
OMFS Omega Ratio Rank: 58
OMFS Calmar Ratio Rank: 77
OMFS Martin Ratio Rank: 74

IWO

IWO Risk / Return Rank: 52
IWO Sharpe Ratio Rank: 52
IWO Sortino Ratio Rank: 51
IWO Omega Ratio Rank: 46
IWO Calmar Ratio Rank: 54
IWO Martin Ratio Rank: 56

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.

OMFS vs. IWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Russell 2000 Dynamic Multifactor ETF (OMFS) and iShares Russell 2000 Growth ETF (IWO). 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.

	OMFS	IWO	Difference
Sharpe ratio: Return per unit of total volatility	1.67	1.44	+0.23
Sortino ratio: Return per unit of downside risk	2.48	2.05	+0.43
Omega ratio: Gain probability vs. loss probability	1.29	1.24	+0.04
Calmar ratio: Return relative to maximum drawdown	3.18	2.15	+1.03
Martin ratio: Return relative to average drawdown	10.94	7.66	+3.29

OMFS vs. IWO - Sharpe Ratio Comparison

The current OMFS Sharpe Ratio is 1.67, which is comparable to the IWO Sharpe Ratio of 1.44. The chart below compares the historical Sharpe Ratios of OMFS and IWO, 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

OMFS vs. IWO - Drawdown Comparison

The maximum OMFS drawdown since its inception was -42.50%, smaller than the maximum IWO drawdown of -60.11%. Use the drawdown chart below to compare losses from any high point for OMFS and IWO.

Drawdown Indicators

	OMFS	IWO	Difference
Max Drawdown Largest peak-to-trough decline	-42.50%	-60.11%	+17.61%
Max Drawdown (1Y) Largest decline over 1 year	-9.38%	-14.87%	+5.49%
Max Drawdown (3Y) Largest decline over 3 years	-22.35%	-28.57%	+6.22%
Max Drawdown (5Y) Largest decline over 5 years	-29.22%	-40.51%	+11.29%
Max Drawdown (10Y) Largest decline over 10 years	—	-42.02%	—
Current Drawdown Current decline from peak	-0.89%	-2.36%	+1.47%
Average Drawdown Average peak-to-trough decline	-10.37%	-16.65%	+6.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.72%	4.17%	-1.45%

Volatility

OMFS vs. IWO - Volatility Comparison

The current volatility for Invesco Russell 2000 Dynamic Multifactor ETF (OMFS) is 4.29%, while iShares Russell 2000 Growth ETF (IWO) has a volatility of 6.33%. This indicates that OMFS experiences smaller price fluctuations and is considered to be less risky than IWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OMFS	IWO	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.29%	6.33%	-2.04%
Volatility (6M) Calculated over the trailing 6-month period	12.65%	16.62%	-3.97%
Volatility (1Y) Calculated over the trailing 1-year period	17.83%	22.14%	-4.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.40%	24.64%	-3.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.22%	24.13%	+0.09%

OMFS vs. IWO - Expense Ratio Comparison

OMFS has a 0.39% expense ratio, which is higher than IWO's 0.24% expense ratio.

Dividends

OMFS vs. IWO - Dividend Comparison

OMFS's dividend yield for the trailing twelve months is around 1.08%, more than IWO's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IWO iShares Russell 2000 Growth ETF	0.43%	0.56%	0.80%	0.73%	0.73%	0.32%	0.44%	0.71%	0.76%	0.73%	0.97%	0.89%
OMFS Invesco Russell 2000 Dynamic Multifactor ETF	1.08%	0.80%	1.87%	1.27%	1.84%	0.66%	1.07%	1.29%	1.50%	0.34%	0.00%	0.00%

Frequently Asked Questions

Can I hold both OMFS and IWO in my portfolio?

With a correlation of 0.91, OMFS and IWO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, OMFS or IWO?

IWO has higher volatility (6.33%) compared to OMFS (4.29%). In terms of maximum drawdown, OMFS dropped -42.50% vs IWO's -60.11%.

Which ETF is better, OMFS or IWO?

On 5-year performance, OMFS leads with 6.99% vs 5.22% for IWO. On fees, IWO is cheaper at 0.24% per year. On volatility, OMFS has been the lower-risk option at 4.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OMFS or IWO?

Over the 5-year period, OMFS has performed better with a 6.99% return vs 5.22%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OMFS or IWO?

IWO is cheaper with a 0.24% expense ratio, compared with 0.39% for OMFS.

Which ETF pays a higher dividend yield, OMFS or IWO?

OMFS has the higher dividend yield at 1.08%, compared with 0.43% for IWO.

What is the main difference between OMFS and IWO?

OMFS is categorized as Small Cap Value Equities, while IWO is Small Cap Growth Equities. OMFS tracks Russell 2000 Invesco Dynamic Multifactor Index, while IWO tracks Russell 2000 Growth Index. They also come from different issuers: Invesco and iShares. Their fees differ too: 0.39% for OMFS and 0.24% for IWO.

Which has better risk-adjusted returns?

OMFS currently has the higher Sharpe Ratio (1.67 vs 1.44), 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.