With no changes to any of the Invesco models this week, we look at the Invesco Russell 2000 Dynamic Multifactor ETF (OMFS).
There are no changes to any of the Invesco models this week. Large cap stocks continue to dominate domestic equities as large cap growth and large cap blend occupy the top two spots in the DALI size & style rankings. There have been some early signs of potential strength from smaller stocks recently, however, as the Russell 2000 (RUT) and S&P 500 Equal Weight Index (SPXEWI) have both outperformed the cap-weighted (SPX) over the last month. Investors looking to increase their small cap exposure should consider the Invesco Russell 2000 Dynamic Multifactor ETF (OMFS).
OMFS currently has a favorable 4.17 fund score, which is 0.56 points better than the average for all small cap funds, and a positive 1.62 score direction. The fund also sits one box away from giving a buy signal on its market RS chart after having been on a sell signal since 2022. On its trend chart, OMFS completed a shakeout pattern in last week’s trading when it broke a triple top $45, putting it just one box away from the all-time high it reached in 2021. Although it currently trades near its all-time high, OMFS remains in actionable territory on its 10-week trading band with a weekly overbought/oversold (OBOS) reading of 34%. Year-to-date (through 12/5) OMFS has gained 13.74% on a price return basis; the fund also carries a 1% yield.
