Product Detail Invesco Russell 2000® Dynamic Multifactor ETF (2024)

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    Product Details

    The Invesco Russell 2000 Dynamic Multifactor ETF (Fund) is based on the Russell 2000 Invesco Dynamic Multifactor Index (Index). The Fund will invest at least 80% of its total assets in the securities that comprise the Index. The Index is constructed using a rules-based approach that re-weights small-cap securities of the Russell 2000 Index according to economic cycles and market conditions, reflected by expansion, slowdown, contraction or recovery. The securities are assigned a multi-factor score from one of five investment styles: value, momentum, quality, low volatility and size. The Fund and Index are reconstituted and rebalanced based on economic indicator signal changes, as frequently as monthly.

    Product Detail Invesco Russell 2000®Dynamic Multifactor ETF (3)

    For Illustrative Purposes Only and does not constitute a recommendation of the suitability of any investment strategy for a particular investor. Factor investing is an investment strategy in which securities are chosen based on certain characteristics and attributes that may explain differences in returns. Factor investing may underperform cap-weighted benchmarks and increase portfolio risk.

    as of 12/31/2023

    Morningstar Rating

    Overall Rating - Small Blend Category

    As of 12/31/2023 the Fund had an overall rating of 4 stars out of 593 funds and was rated 3 stars out of 593 funds, 4 stars out of 557 funds and N/A stars out of N/A funds for the 3-, 5- and 10- year periods, respectively.

    Morningstar details

    Source: Morningstar Inc. Ratings are based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance, placing more emphasis on downward variations and rewarding consistent performance. Open-end mutual funds and exchange-traded funds are considered a single population for comparison purposes. Ratings are calculated for funds with at least a three year history. The overall rating is derived from a weighted average of three-, five- and 10-year rating metrics, as applicable, excluding sales charges and including fees and expenses. ©2023 Morningstar Inc. All rights reserved. The information contained herein is proprietary to Morningstar and/or its content providers. It may not be copied or distributed and is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance does not guarantee future results. The top 10% of funds in a category receive five stars, the next 22.5% four stars, the next 35% three stars, the next 22.5% two stars and the bottom 10% one star. Ratings are subject to change monthly. Had fees not been waived and/or expenses reimbursed currently or in the past, the Morningstar rating would have been lower. Ratings for other share classes may differ due to different performance characteristics.

    as of 12/31/2023 12/31/2023

    Performance

    Index History (%)YTD1Yr3Yr5Yr10YrSince Inception
    Russell 2000 Invesco Dynamic Multifactor Index16.0416.047.6312.89N/A9.45
    Russell 2000 Total Return Index (USD)16.9316.932.229.977.166.67
    Fund History (%)
    Fund NAV15.2815.287.0812.33N/A8.92
    After Tax Held14.6214.626.6311.88N/A8.48
    After Tax Sold9.019.015.339.70N/A6.96
    Fund Market Price15.4715.477.0512.36N/A8.95
    Index History (%)YTD1Yr3Yr5Yr10YrSince Inception
    Russell 2000 Invesco Dynamic Multifactor Index16.0416.047.6312.89N/A9.45
    Russell 2000 Total Return Index (USD)16.9316.932.229.977.166.67
    Fund History (%)
    Fund NAV15.2815.287.0812.33N/A8.92
    After Tax Held14.6214.626.6311.88N/A8.48
    After Tax Sold9.019.015.339.70N/A6.96
    Fund Market Price15.4715.477.0512.36N/A8.95

    Market returns are based on the midpoint of the bid/ask spread at 4 p.m. ET and do not represent the returns an investor would receive if shares were traded at other times. Performance data quoted represents past performance, which is not a guarantee of future results. Investment returns and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. After-tax returns reflect the highest federal income tax rate but exclude state and local taxes. Fund performance reflects applicable fee waivers, absent which, performance data quoted would have been lower. After Tax Held and After Tax Sold are based on NAV. Returns less than one year are cumulative.

    As the result of a reorganization on May 24, 2019, the returns of the fund for periods on or prior to May 24, 2019 reflect performance of the Oppenheimer predecessor fund.

    as of 12/31/2023

    Growth of $10,000

    Data beginning Fund inception and ending 12/31/2023. Fund performance shown at NAV.

    An investor cannot invest directly in an index. The results assume that no cash was added to or assets withdrawn from the Index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.

    as of01/26/2024

    Sector Allocation

    SectorPercent of Fund
    Financials26.43%
    Industrials18.76%
    Consumer Discretionary14.82%
    Energy7.98%
    Health Care7.10%
    Communication Services6.14%
    Real Estate5.16%
    Materials5.07%
    Information Technology5.03%
    Consumer Staples2.97%
    Utilities0.54%

    as of 01/25/2024

    Market Cap & Style Allocations

    Large-Cap Value-
    Large-Cap Blend-
    Large-Cap Growth-
    Mid-Cap Value-
    Mid-Cap Blend-
    Mid-Cap Growth-
    Small-Cap Value61.71%
    Small-Cap Blend32.61%
    Small-Cap Growth5.68%

    as of 01/26/2024Top Holdings | View All

    Fund Holdings subject to change

    TickerCompany% of Fund
    TDS Telephone and Data Systems Inc0.92
    HIBB Hibbett Inc0.59
    HOV Hovnanian Enterprises Inc0.59
    CAL Caleres Inc0.55
    SCS Steelcase Inc0.55
    AMRX Amneal Pharmaceuticals Inc0.54
    BANC Banc of California Inc0.51
    SXC SunCoke Energy Inc0.51
    ZEUS Olympic Steel Inc0.50
    KOP Koppers Holdings Inc0.50

    The characterizations of distributions reflected in this table are as of the date noted below. The actual amounts of income, capital gains and return of capital for tax purposes are only determined after the Fund’s fiscal year end, and may differ from the amounts and characterizations reflected in the chart below. Please refer to the Tax Center for the most current and/or final characterizations of these distributions, including any distributions characterized as return of capital.

    Distributions | HideView All | Distribution Information

    Ex-DateRecord DatePay Date$/
    Share
    Ordinary IncomeShort Term GainsLong Term GainsReturn of CapitalLiquidation Distribution
    12/18/202312/19/202312/22/20230.082520.08252----
    09/18/202309/19/202309/22/20230.157440.15744----
    06/20/202306/21/202306/23/20230.135950.13595----
    03/20/202303/21/202303/24/20230.118590.11859----
    12/19/202212/20/202212/23/20220.154870.15487----
    09/19/202209/20/202209/23/20220.209320.20932----
    06/21/202206/22/202206/30/20220.157020.15702----
    03/21/202203/22/202203/31/20220.106100.10610----
    12/20/202112/21/202112/31/20210.085930.08593----
    09/20/202109/21/202109/30/20210.063620.06362----
    06/21/202106/22/202106/30/20210.057840.05784----
    03/22/202103/23/202103/31/20210.069510.06951----
    12/21/202012/22/202012/31/20200.101380.10138----
    09/21/202009/22/202009/30/20200.078730.07873----
    06/22/202006/23/202006/30/20200.075650.07565----
    03/23/202003/24/202003/31/20200.097060.09706----
    12/23/201912/24/201912/31/20190.102330.10233----
    09/23/201909/24/201909/30/20190.088600.08860----
    06/24/201906/25/201906/28/20190.095800.09580----
    03/19/201903/20/201903/21/20190.087150.08715----
    12/26/201812/27/201812/28/20180.121910.12191----
    09/25/201809/26/201809/27/20180.134780.13478----
    06/19/201806/20/201806/21/20180.060680.06068----
    03/16/201803/17/201803/20/20180.029880.02988----
    12/28/201712/29/201701/02/20180.088460.08846----

    Distribution Information

    During the period October 27, 2015, through December 7, 2015, the Invesco Floating Rate Fund declared daily distributions in excess of daily net investment income, which was reflected in Distribution yield test.

    Close

    Frequency Distribution of Discounts & Premiums

    • Bid/Ask MidPoint Above NAV
    • Bid/Ask Midpoint Below NAV
    Bid/Ask MidPoint Above NAV
    Quarter
    Ending
    Days 0.00-
    0.25%
    0.26-
    0.50%
    0.51-
    0.99%
    1.00-
    1.49%
    1.50-
    1.99%
    ≥2.00%
    12/31/2023634600000
    09/30/2023634910000
    06/30/2023625610000
    03/31/2023623910000
    Year Ended 202325019030000
    Bid/Ask Midpoint Below NAV
    Quarter
    Ending
    Days 0.00-
    0.25%
    0.26-
    0.50%
    0.51-
    0.99%
    1.00-
    1.49%
    1.50-
    1.99%
    ≥2.00%
    12/31/2023631700000
    09/30/2023631300000
    06/30/202362500000
    03/31/2023622200000
    Year Ended 20232505700000

    Fund Inception : 11/08/2017

    Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices. Performance data quoted represents past performance, which is not a guarantee of future results.

    Premiums/Discounts

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    Shareholders may pay more than net asset value when they buy Fund shares and receive less than net asset value when they sell those shares, because shares are bought and sold at current market prices. Performance data quoted represents past performance, which is not a guarantee of future results.

    Typically, security classifications used in calculating allocation tables are as of the last trading day of the previous month.

    There are risks involved with investing in ETFs, including possible loss of money. Shares are not actively managed and are subject to risks similar to those of stocks, including those regarding short selling and margin maintenance requirements. Ordinary brokerage commissions apply. The Fund's return may not match the return of the Underlying Index. The Fund is subject to certain other risks. Please see the current prospectus for more information regarding the risk associated with an investment in the Fund.

    Investments focused in a particular sector, such as financials, are subject to greater risk, and are more greatly impacted by market volatility, than more diversified investments.

    A value style of investing is subject to the risk that the valuations never improve or that the returns will trail other styles of investing or the overall stock markets.

    Momentum style of investing is subject to the risk that the securities may be more volatile than the market as a whole or returns on securities that have previously exhibited price momentum are less than returns on other styles of investing.

    Companies that issue quality stocks may experience lower than expected returns or may experience negative growth, as well as increased leverage, resulting in lower than expected or negative returns to Fund shareholders.

    There is no assurance that such ETFs will provide low volatility.

    Stocks of small-capitalization companies tend to be more vulnerable to adverse developments, may be more volatile, and may be illiquid or restricted as to resale than large companies.

    The fund may engage in frequent trading of its portfolio securities in connection with the rebalancing or adjustment of the Underlying Index.

    The Russell 2000 Index is an unmanaged index considered representative of small-cap stocks. The Russell 2000 Index is a trademark/service mark of the Frank Russell Co. Russell® is a trademark of the Frank Russell Co.

    The Global Industry Classification Standard was developed by and is the exclusive property and a service mark of MSCI, Inc. and Standard & Poor's.

    The Russell 2000 Invesco Dynamic Multifactor Index (“Index”) is a trademark of Frank Russell Company (“Russell”) and has been licensed for use by the Manager and the Fund. The Invesco Russell 2000 Dynamic Multifactor ETF (“Licensed Fund”) is not in any way sponsored, endorsed, sold or promoted by Russell, the London Stock Exchange Group companies (“LSEG”) or Invesco Capital Management LLC (together the “Licensor Parties”) and none of the Licensor Parties make any claim, prediction, warranty or representation whatsoever, expressly or impliedly, either as to (i) the results to be obtained from the use of the Index (upon which the Licensed Fund is based), (ii) the figure at which the Index is said to stand at any particular time on any particular day or otherwise, or (iii) the suitability of the Index for the purpose to which it is being put in connection with the Licensed Fund. None of the Licensor Parties have provided or will provide any financial or investment advice or recommendation in relation to the Index to the Manager or to its clients. The Index is calculated by Russell or its agent. None of the Licensor Parties shall be (a) liable (whether in negligence or otherwise) to any person for any error in the Index or (b) under any obligation to advise any person of any error therein.

    As an expert in financial products and exchange-traded funds (ETFs), I bring a wealth of knowledge and experience to the table. My understanding of the intricacies of investment strategies, market dynamics, and financial instruments positions me well to discuss the specifics of the Invesco Russell 2000 Dynamic Multifactor ETF.

    Let's dive into the key concepts and information presented in the provided article:

    1. Invesco Russell 2000 Dynamic Multifactor ETF Overview:

    • The ETF is based on the Russell 2000 Invesco Dynamic Multifactor Index.
    • At least 80% of the total assets are invested in securities that make up the Index.
    • The Index utilizes a rules-based approach, re-weighting small-cap securities of the Russell 2000 Index based on economic cycles and market conditions (expansion, slowdown, contraction, or recovery).
    • Securities are assigned a multi-factor score based on five investment styles: value, momentum, quality, low volatility, and size.
    • Reconstitution and rebalancing of the Fund and Index occur based on economic indicator signal changes, potentially as frequently as monthly.

    2. Morningstar Rating:

    • As of 12/31/2023, the ETF has an overall Morningstar rating of 4 stars out of 5.
    • Ratings for the 3-, 5-, and 10-year periods are provided, indicating consistent performance.

    3. Performance Metrics:

    • Performance data is presented for various time frames (YTD, 1Yr, 3Yr, 5Yr, 10Yr, and Since Inception) for both the Fund and the Russell 2000 Invesco Dynamic Multifactor Index.
    • Returns are shown for different scenarios, including NAV, After Tax Held, After Tax Sold, and Fund Market Price.

    4. Sector and Market Cap Allocation:

    • Sector allocation as of 01/26/2024 includes percentages for various sectors, with Financials being the largest at 26.43%.
    • Market Cap & Style Allocations are provided, breaking down the percentage distribution among different market cap and style categories.

    5. Top Holdings:

    • The top holdings of the ETF include companies such as TDS (Telephone and Data Systems Inc.), HIBB (Hibbett Inc.), and HOV (Hovnanian Enterprises Inc.), among others.

    6. Distributions:

    • Distribution information is presented, including ex-date, record date, pay date, and amounts for ordinary income, short-term gains, long-term gains, return of capital, and liquidation distribution.

    7. Premiums/Discounts and Frequency Distribution:

    • Information on premiums/discounts to NAV (Net Asset Value) is provided, including a frequency distribution for bid/ask midpoint above and below NAV.

    8. Fund Details and Risks:

    • Fund inception date: 11/08/2017.
    • Risks associated with investing in the ETF, including sector concentration risk, value style risk, momentum style risk, and risks associated with small-cap stocks.

    9. Index Information:

    • The Russell 2000 Invesco Dynamic Multifactor Index is described, highlighting its rules-based construction and licensing information.

    This comprehensive overview demonstrates the multifaceted nature of the Invesco Russell 2000 Dynamic Multifactor ETF, covering its strategy, performance, allocations, and associated risks. It's essential for investors to consider these factors when making informed investment decisions.

    Product Detail Invesco Russell 2000® Dynamic Multifactor ETF (2024)
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