OMFL vs SPY
Invesco Russell 1000 Dynamic Multifactor ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, OMFL or SPY?
SPY has been ahead.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.90. OMFL is less concentrated, with 36.0% of the fund in its ten largest positions against 38.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | OMFL | SPY |
|---|---|---|
| Expense Ratio | 0.29% | 0.09%Best |
| AUM | $4.8B | $804.7B |
| Dividend Yield | 0.81% | 0.98% |
| Holdings | 635 | 505 |
| YTD Return | +13.18%Best | +12.47% |
| 1Y Return | +16.70% | +17.51%Best |
| 3Y Return (annualized) | +14.69% | +21.18%Best |
| 5Y Return (annualized) | +9.16% | +12.88%Best |
| Volatility (annualized) | 17.3% | 16.3%Best |
| Max Drawdown | -33.2%Best | -34.1% |
| $10,000 over 5 years | $15,499 | $18,327Best |
| Top 10 Weight | 36.0%Best | 38.0% |
| Fund Family | Invesco (US) | State Street Investment Management |
| Category | Equity | Equity |
| Style | Large Cap Blend | Large Cap Blend |
| Inception | Nov 8, 2017 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Nov 10, 2017 to Sep 11, 2026 (8.8 years).
OMFL vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 8.8 years both funds cover.
OMFL vs SPY Performance
Invesco Russell 1000 Dynamic Multifactor ETF (OMFL) is an ETF from Invesco (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year OMFL returned +16.70% while SPY returned +17.51%. Year to date, OMFL is up 13.18% versus a gain of 12.47% for SPY.
Over three years, OMFL compounded at +14.69% per year against +21.18% for SPY; over five years the annualized figures are +9.16% and +12.88% respectively. Across the full 9-year window we track, SPY has the edge at +14.03% annualized vs +13.77%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
OMFL has been the more volatile fund, with annualized monthly volatility of 17.3% compared with 16.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -33.2% for OMFL and -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.90. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
OMFL charges 0.29% per year while SPY charges 0.09%. On a $10,000 position that is $29 vs $9 annually, a gap of $20 per year that compounds over a long holding period. On income, OMFL currently yields 0.81% against 0.98% for SPY.
Holdings Overlap
93.0% of OMFL's money is in holdings SPY also owns. 89.5% of SPY's money is in holdings OMFL also owns.
Most of OMFL is already inside SPY. Owning both mostly buys the same companies twice.
379 positions in common, counted across the 578 positions we hold weights for in OMFL and 504 in SPY, against full books of 635 and 505.
What only one of them owns
Our book lists 120 positions for SPY that do not appear in our book for OMFL (10.2% of the fund), and 181 for OMFL that do not appear in SPY (5.2%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in OMFL | Weight in SPY | Difference |
|---|---|---|---|
| AAPLApple, Inc | 8.26% | 6.83% | 1.43% |
| NVDANvidia Corp. | 4.96% | 7.71% | 2.75% |
| MSFTMicrosoft Corp 4.100 Feb 06 37 | 6.21% | 5.50% | 0.71% |
| GOOGLAlphabet A Usd 0.001 | 3.24% | 3.33% | 0.09% |
| AMZNAmazon.Com Inc | 2.05% | 4.08% | 2.03% |
| GOOGAlphabet Inc | 2.63% | 2.67% | 0.04% |
| AVGOBroadcom Inc | 0.96% | 2.97% | 2.01% |
| VVisa Inc | 2.89% | 0.92% | 1.97% |
| LLYEli Lilly & Co. | 1.83% | 1.33% | 0.50% |
| METAMeta Platforms, Inc. | 1.12% | 1.94% | 0.82% |
93.0% of OMFL is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, OMFL or SPY?
OMFL has an expense ratio of 0.29% while SPY charges 0.09%. SPY is the cheaper option, by $20 a year on a $10,000 investment.
Which performed better, OMFL or SPY?
Over the past year OMFL returned +16.70% vs +17.51% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (9 years), OMFL annualized +13.77% vs +14.03% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, OMFL or SPY?
OMFL has been the more volatile fund at 17.3% annualized versus 16.3% for SPY. Worst drawdown: OMFL -33.2% vs SPY -34.1%.
Should I hold both OMFL and SPY?
OMFL and SPY have a monthly-return correlation of 0.90, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
What is the holdings overlap between OMFL and SPY?
93.0% of OMFL's money is in holdings SPY also owns. 89.5% of SPY's is in holdings OMFL also owns. They hold 379 positions in common, counted across the 578 positions we hold weights for in OMFL and 504 in SPY.
Which pays a higher dividend, OMFL or SPY?
OMFL yields 0.81% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than OMFL?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. The two have moved almost in lockstep, correlation 0.90. OMFL is less concentrated, with 36.0% of the fund in its ten largest positions against 38.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.