BetterThanSPY

Relative Intelligence · US Multifactor Equity

How iShares U.S. Equity Factor Rotation Active ETF (DYNF) compares with the whole market and its popular alternatives

Built by QuantCommons' quantitative engine, this page is about relative opportunity, not data on DYNF alone. It places DYNF (iShares U.S. Equity Factor Rotation Active ETF) against 20+ popular alternatives, its neighboring categories and the entire market of over 10,000 U.S.-listed stocks and ETFs, and surfaces what has done better on consistent outperformance, return for the risk taken, behavior in real market crashes and diversification. The result is a clearer view of where DYNF stands in the market, and of the alternatives worth a closer look.

Period covered: DYNF's full trading record, from March 2019 through September 2026. The crash tests reach back to 2000 using older funds and the S&P 500. All returns include reinvested dividends. Data as of October 22, 2026.

Data as of October 22, 2026. Full tables and charts read best on a larger screen.

Rank the market against DYNF →Chart DYNF vs. 22 alternatives →

This page answers the following questions about DYNF

Key findings

Not AI-generated

These key findings are generated by our proprietary relative intelligence engine, directly from the data on this page.

How much would $10,000 in DYNF have grown?

This chart tracks a hypothetical $10,000 investment in DYNF over the past 7 years, with dividends reinvested, alongside the same amount in the S&P 500, investments that ended ahead of DYNF over the same span and DYNF's popular alternatives, among those that traded for the entire period. A second view covers the past 5 years, the period the better options further down the page are judged on. It shows not only where each investment ended up but also how smooth or uneven the path was.

Note: DYNF began trading on March 21, 2019, so the chart cannot reach back to the dot-com bust, the 2008 financial crisis or five other sell-offs. It covers the most recent 7 years of DYNF's record, starting at the end of September 2019.

Choose a period

From the end of September 2019 to the end of September 2026. Hover over a fund in the key to pick out its line. 662 of the 3,145 stocks and funds worth at least $500 million that traded the whole period ended ahead of DYNF; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$0$10,000$20,000$30,000$40,000$50,000$60,00020192020202120222023202420252026$0$20,000$40,000$60,0002019202120232025
  • CAH$56,098+461% total · +27.9% a year
  • DXJ$43,294+333% total · +23.3% a year
  • SPMO$40,508+305% total · +22.1% a year
  • VUG$33,914+239% total · +19.1% a year
  • RY$31,505+215% total · +17.8% a year
  • DYNF$29,610+196% total · +16.8% a year
  • MTUM$28,690+187% total · +16.2% a year
  • SPY (S&P 500)$28,402+184% total · +16.1% a year
  • JQUA$27,744+177% total · +15.7% a year
  • VTV$23,017+130% total · +12.6% a year
Change the dates or add tickers to this chart in EasyCompare

From the end of September 2021 to the end of September 2026. Hover over a fund in the key to pick out its line. 713 of the 3,630 stocks and funds worth at least $500 million that traded the whole period ended ahead of DYNF; the chart shows 5, closest alternatives first. The other 3 lines are popular alternatives, shown for context.

$5,000$10,000$15,000$20,000$25,000$30,000$35,000202120222023202420252026$0$10,000$20,000$30,000$40,000202120222023202420252026
  • DXJ$32,976+230% total · +27.0% a year
  • SPMO$26,579+166% total · +21.6% a year
  • RY$23,646+136% total · +18.8% a year
  • VLUE$22,395+124% total · +17.5% a year
  • PVAL$21,761+118% total · +16.8% a year
  • DYNF$21,051+111% total · +16.1% a year
  • JQUA$19,289+92.9% total · +14.0% a year
  • MTUM$19,134+91.3% total · +13.9% a year
  • SPY (S&P 500)$19,000+90.0% total · +13.7% a year
  • VTV$17,967+79.7% total · +12.4% a year
Change the dates or add tickers to this chart in EasyCompare

DYNF at a glance

This section summarizes the key facts about the fund, its returns over periods from one to ten years and the risk it has carried, with dividends reinvested throughout. These figures serve as the baseline for every comparison that follows.

Note: DYNF began trading on March 21, 2019, so every figure here, including its worst decline, covers only the time since then. None of them reflect the dot-com bust, the 2008 financial crisis or five other sell-offs.

The fund

Issuer
IShares
Began trading
March 2019
Expense ratio
0.26%per year
Assets
$42B
Category
Broad Market

Returns

Past 1 year
+16.8%total return
Past 3 years
+104%+26.8% a year
Past 5 years
+95.5%+14.4% a year
Best calendar year
+36.2%2023
Worst calendar year
−20.3%2022
Losing years
1 of 6full calendar years

Risk

Volatility
17.5%typical yearly swing, 5 years
Sharpe ratio
0.86return per unit of risk, 5 years
Worst decline ever
−34.7%Feb 2020 to Mar 2020
From its all-time high
−3.3%below the peak

DYNF against the whole market

Where DYNF ranks among every stock and fund, and what across the market has done better.

How does DYNF rank among all ETFs?

This section ranks DYNF on return, volatility, risk-adjusted return and worst decline against every ETF worth at least $100 million with enough history. Where the comparisons with its popular alternatives show how DYNF stacks up against its peers, these rankings show where it stands in the market as a whole.

Ranked against U.S.-listed ETFs with at least $100M in assets that have enough history for each measure, so the count changes from row to row; smaller ETFs and leveraged funds are left out. Lower volatility and smaller declines rank higher.

MeasureDYNFRankStanding
1-year return+16.8%671 of 2,488top 27%
3-year return+104%177 of 1,950top 9%
5-year return+95.5%135 of 1,563top 9%
Volatility, 5 years17.5%916 of 1,563bottom 42%
Sharpe ratio, 5 years0.86248 of 1,563top 16%

What has beaten DYNF on both return and risk?

Each dot is an investment, placed by how much it earned a year over the past 5 years (higher is better) and how much its price swung, its volatility (further left is calmer). DYNF sits where the dashed lines cross. Anything in the green box above and to the left earned more than DYNF with smaller swings, a better trade-off over this period on both counts. Past results are no promise, but a name in the box is worth a closer look.

Annual return is the annualized total return with dividends reinvested, and volatility the annualized swing in daily prices, both over 5 years. Labeled dots are the strongest picks from the table below and the names called out above, colored by how close they sit to DYNF. 3,641 stocks and funds worth at least $500 million were screened. Hover over a dot for its figures.

10.0%12.0%14.0%16.0%18.0%20.0%22.0%24.0%26.0%10.0%15.0%20.0%25.0%30.0%35.0%40.0%45.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than DYNFDYNF: +14.4% a year, volatility 17.5%SPY (S&P 500): +12.5% a year, volatility 17.2%SPMO: +18.1% a year, volatility 20.9%PVAL: +15.9% a year, volatility 15.1%VLUE: +16.2% a year, volatility 18.4%AUSF: +13.6% a year, volatility 13.6%DXJ: +26.6% a year, volatility 19.1%RY: +17.5% a year, volatility 18.2%CAH: +41.7% a year, volatility 24.7%LVHI: +16.9% a year, volatility 11.1%ABBV: +25.5% a year, volatility 23.4%WMT: +21.1% a year, volatility 22.6%OEF: +14.1% a year, volatility 17.8%GCOW: +14.4% a year, volatility 13.6%DYNFSPY (S&P 500)SPMOPVALVLUEAUSFDXJRYCAHLVHIABBVWMTOEFGCOW10.0%15.0%20.0%25.0%30.0%10.0%20.0%30.0%40.0%50.0%Volatility over 5 years (annualized)Annual return over 5 yearsMore return, less volatility than DYNFDYNF: +14.4% a year, volatility 17.5%SPY (S&P 500): +12.5% a year, volatility 17.2%SPMO: +18.1% a year, volatility 20.9%PVAL: +15.9% a year, volatility 15.1%VLUE: +16.2% a year, volatility 18.4%AUSF: +13.6% a year, volatility 13.6%DXJ: +26.6% a year, volatility 19.1%RY: +17.5% a year, volatility 18.2%CAH: +41.7% a year, volatility 24.7%LVHI: +16.9% a year, volatility 11.1%ABBV: +25.5% a year, volatility 23.4%WMT: +21.1% a year, volatility 22.6%OEF: +14.1% a year, volatility 17.8%GCOW: +14.4% a year, volatility 13.6%DYNFSPY (S&P 500)SPMOPVALAUSFDXJRYCAHLVHIABBVWMTGCOW
  • Popular alternatives
  • Same and neighboring categories, and shared themes
  • The whole market

Is there a better investment than DYNF?

Investments that beat DYNF over the past 5 years on return, volatility, drawdowns, consistency, crash losses or fees, from its popular alternatives out to the whole market.

How this works

The table below lists investments that beat DYNF over the past 5 years on at least one of these measures: a higher annual return with lower volatility, a higher annual return at similar volatility, a similar return with lower volatility, a higher Sharpe ratio with a smaller worst decline, a higher total return in most periods from 3 months to 10 years, or smaller losses in recent market crashes, and, for funds, the same exposure at a lower expense ratio. It checks DYNF's popular alternatives first, then the rest of its own and neighboring categories, then every stock and fund worth at least $500 million, and shows the strongest few in each group. The full list of those with a higher return and lower volatility than DYNF follows the table.

Annual return is the annualized total return with dividends reinvested. Annual return, volatility and the Sharpe ratio cover 5 years; the worst decline covers the past 10 years. Green marks a better figure than DYNF's. "On the frontier" means no other option shown or tested earned more with less volatility. Funds that hold the same thing are shown once. Beyond the popular alternatives, nothing with more than 1.5× DYNF's volatility counts as better.

These figures cover the past 5 years. Green marks a better figure than DYNF's.

Screen the whole market against DYNF for any period in BetterThanSPYOpen these 13 in EasyCompare
InvestmentWhy it is betterPast 5 yearsDownsideLong runFit
Annual return?higher is betterVolatility?lower is calmerSharpe?return per unit of riskWorst decline?past 10 years5Y returntotalCorr. with DYNF?lower diversifies moreExpenseper year
DYNFiShares U.S. Equity Factor Rotation Active ETF · this page
+14.4%17.5%0.86−34.7%+95.5%1.000.26%
SPYState Street SPDR S&P 500 ETF · S&P 500
+12.5%17.2%0.78−33.7%+80.3%0.990.09%
Popular alternativesbest 1 shownThe investments people most often weigh against DYNF. 1 of 22 passed at least one test.
SPMOInvesco S&P 500 Momentum ETF · US Momentum Equity
Smaller losses in recent crashes+18.1%20.9%0.91−30.9%+130%0.840.13%
Same and neighboring categories, and shared themesbest 3 shownEverything else in US Multifactor Equity and the categories next to it (US Quality Equity, Multifactor Equity, US Large-Cap Value, US Total Market), plus DYNF's specific themes. 3 of 59 passed at least one test.
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value
Higher return, lower volatility+15.9%15.1%1.06−41.3%+109%0.850.56%
VLUEiShares MSCI USA Value Factor ETF · US Large-Cap Value
Higher return in most periods+16.2%18.4%0.91−39.5%+112%0.800.15%
AUSFGlobal X - Adaptive U.S. Factor ETF · US Multifactor Equity
Similar return, lower volatility+13.6%13.6%1.01−44.2%+89.3%0.700.27%
The whole marketbest 8 shownEvery other stock and fund worth at least $500 million. 67 of 3,575 passed at least one test.
DXJWisdomTree Japan Hedged Equity Fund · Japan Equity
On the frontierHigher return, similar volatilityHigher return in most periodsSmaller losses in recent crashes+26.6%19.1%1.34−39.1%+225%0.510.48%
RYRoyal Bank of Canada · Banks
On the frontierHigher return, similar volatilityHigher return in most periods+17.5%18.2%0.98−40.0%+124%0.58—
CAHCardinal Health, Inc. · Health Care Distribution
On the frontierHigher return in most periodsSmaller losses in recent crashes+41.7%24.7%1.54−46.1%+471%0.28—
LVHIFranklin International Low Volatility High Dividend Index ETF · International Dividend Equity
On the frontierHigher return, lower volatilitySmaller losses in recent crashes+16.9%11.1%1.48−32.4%+119%0.510.40%
ABBVAbbVie Inc. · Specialty Pharmaceuticals
Higher return in most periodsSmaller losses in recent crashes+25.5%23.4%1.09−45.1%+212%0.15—
WMTWalmart Inc. · Discount Retail
Higher Sharpe, smaller worst decline+21.1%22.6%0.97−25.7%+161%0.41—
OEFiShares S&P 100 ETF · US Large-Cap Equity
Same exposure, lower expense ratio+14.1%17.8%0.83−31.4%+93.5%0.970.20%
GCOWPacer Global Cash Cows Dividend ETF · Global Equity
Similar return, lower volatility+14.4%13.6%1.06−37.6%+95.7%0.470.60%
What these numbers mean for DYNF
Annual return
DYNF returned 14.4% a year over the past 5 years with dividends reinvested, against 12.5% a year for the S&P 500. At that pace, $10,000 became about $19,600. Annual return is the steady yearly rate that would produce the same total result, so investments held over the same span compare fairly. Guide: What is performance and return? →
Volatility
DYNF's volatility over the past 5 years was 17.5%, 1.0 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, DYNF's return lands within 17.5% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump. Guide: Understanding and measuring risk (volatility) →
Sharpe ratio
DYNF's Sharpe ratio over the past 5 years was 0.86, against 0.78 for the S&P 500, so DYNF earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings. Guide: Balancing reward with risk (Sharpe ratio) →
Worst decline
DYNF's worst fall from a peak to a low over the past 10 years was 34.7%, against 33.7% for the S&P 500. Losses and gains are not symmetric: climbing back from a 34.7% fall takes a 53.2% gain. Guide: Market crash risk and tail risk →
Correlation
Over the past 5 years, DYNF's monthly returns had a correlation of 0.99 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against DYNF instead: the lower it is, the more that option would diversify a DYNF holding. Guide: Correlation and diversification →
Show all 2 stocks and funds worth at least $500 million that earned more than DYNF with less volatility

Out of 3,641 tested over 5 years. Best first; funds that hold the same thing are listed once.

#InvestmentFound inAnnual returnVolatilitySharpeWorst decline5Y returnCorr. with DYNFExpense
1
LVHIFranklin International Low Volatility High Dividend Index ETF · International Dividend Equity
Whole market+16.9%11.1%1.48−32.4%+119%0.510.40%
2
PVALPutnam Focused Large Cap Value ETF · US Large-Cap Value
Same or nearby category+15.9%15.1%1.06−41.3%+109%0.850.56%

DYNF against its popular alternatives

The investments people most often weigh against DYNF, compared period by period and year by year.

How do DYNF's risk and return compare with its alternatives?

This map plots each investment's annual return over the past 5 years against its volatility, the size of its typical price swings. Investments toward the upper left earned more for a smoother ride, and those toward the lower right earned less for a rougher one. The dashed lines cross at DYNF, which divides the map into what did better or worse on each measure.

Green points earned more than DYNF with less volatility; red points earned less with more. Hover over a point for its figures. Total returns with dividends reinvested, annualized.

12.0%14.0%16.0%18.0%20.0%22.0%24.0%4.0%6.0%8.0%10.0%12.0%14.0%16.0%18.0%20.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityDYNF: 14.3% a year, volatility 17.5%SPY (S&P 500): 12.5% a year, volatility 17.2%MTUM: 10.3% a year, volatility 22.2%VUG: 11.9% a year, volatility 22.6%IWM: 5.3% a year, volatility 22.4%SPMO: 18.1% a year, volatility 20.9%JQUA: 13.5% a year, volatility 15.7%VTV: 12.2% a year, volatility 13.7%ROUS: 12.2% a year, volatility 14.4%OMFL: 8.9% a year, volatility 16.4%QUS: 11.1% a year, volatility 14.2%DEUS: 9.2% a year, volatility 15.4%LRGF: 13.4% a year, volatility 17.1%AVUS: 12.0% a year, volatility 17.2%QUAL: 11.2% a year, volatility 17.3%USMV: 7.7% a year, volatility 12.3%DFUS: 12.1% a year, volatility 17.3%DFAU: 11.9% a year, volatility 17.1%GSLC: 11.4% a year, volatility 16.7%VTI: 11.4% a year, volatility 17.5%SPHQ: 11.7% a year, volatility 16.7%SPLV: 5.8% a year, volatility 12.6%FLQL: 13.4% a year, volatility 16.3%DYNFSPY (S&P 500)MTUMVUGIWMSPMOJQUAVTVROUSOMFLQUSDEUSLRGFAVUSQUALUSMVDFAUGSLCVTISPLVFLQL10.0%12.5%15.0%17.5%20.0%22.5%25.0%5.0%7.5%10.0%12.5%15.0%17.5%20.0%Volatility over 5 years (annualized)Annual return over 5 yearsHigher return, lower volatilityLower return, higher volatilityDYNF: 14.3% a year, volatility 17.5%SPY (S&P 500): 12.5% a year, volatility 17.2%MTUM: 10.3% a year, volatility 22.2%VUG: 11.9% a year, volatility 22.6%IWM: 5.3% a year, volatility 22.4%SPMO: 18.1% a year, volatility 20.9%JQUA: 13.5% a year, volatility 15.7%VTV: 12.2% a year, volatility 13.7%ROUS: 12.2% a year, volatility 14.4%OMFL: 8.9% a year, volatility 16.4%QUS: 11.1% a year, volatility 14.2%DEUS: 9.2% a year, volatility 15.4%LRGF: 13.4% a year, volatility 17.1%AVUS: 12.0% a year, volatility 17.2%QUAL: 11.2% a year, volatility 17.3%USMV: 7.7% a year, volatility 12.3%DFUS: 12.1% a year, volatility 17.3%DFAU: 11.9% a year, volatility 17.1%GSLC: 11.4% a year, volatility 16.7%VTI: 11.4% a year, volatility 17.5%SPHQ: 11.7% a year, volatility 16.7%SPLV: 5.8% a year, volatility 12.6%FLQL: 13.4% a year, volatility 16.3%DYNFSPY (S&P 500)MTUMVUGIWMSPMOJQUAVTVROUSOMFLQUSDEUSAVUSQUALUSMVVTISPLVFLQL
All figures
InvestmentAnnual returnVolatility
SPMO Invesco S&P 500 Momentum ETF+18.1%20.9%
DYNF This pageiShares U.S. Equity Factor Rotation Active ETF+14.3%17.5%
JQUA JPMorgan U.S. Quality Factor ETF+13.5%15.7%
LRGF iShares U.S. Equity Factor ETF+13.4%17.1%
FLQL Franklin U.S. Large Cap Multifactor Index ETF+13.4%16.3%
SPY S&P 500State Street SPDR S&P 500 ETF+12.5%17.2%
VTV Vanguard Morningstar Value ETF+12.2%13.7%
ROUS Hartford Multifactor US Equity ETF+12.2%14.4%
DFUS Dimensional U.S. Equity ETF+12.1%17.3%
AVUS Avantis U.S. Equity ETF+12.0%17.2%
DFAU Dimensional - US Core Equity Market ETF+11.9%17.1%
VUG Vanguard Morningstar Growth ETF+11.9%22.6%
SPHQ Invesco S&P 500 Quality ETF+11.7%16.7%
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF+11.4%16.7%
VTI Vanguard Morningstar Total Stock Market ETF+11.4%17.5%
QUAL iShares MSCI USA Quality Factor ETF+11.2%17.3%
QUS State Street SPDR MSCI USA StrategicFactors ETF+11.1%14.2%
MTUM iShares MSCI USA Momentum Factor ETF+10.3%22.2%
DEUS Xtrackers Russell US Multifactor ETF+9.2%15.4%
OMFL Invesco Russell 1000 Dynamic Multifactor ETF+8.9%16.4%
USMV iShares MSCI USA Min Vol Factor ETF+7.7%12.3%
SPLV Invesco S&P 500 Low Volatility ETF+5.8%12.6%
IWM iShares Russell 2000 ETF+5.3%22.4%
Open these 23 in EasyCompare

Has DYNF consistently beaten its popular alternatives?

This section compares DYNF with the investments people most often weigh against it, checking each one over seven periods from one month to five years. Counting how often an alternative earned more than DYNF helps separate lasting outperformance from a single strong stretch.

A green cell means the alternative earned more than DYNF over that period. "Qualified" marks those that did so in at least 3 of 5 short-term periods and 2 of 2 long-term periods.

InvestmentPeriods outperformed Short termLong termRisk · 5 yearsFund
1M3M6MYTD1Y3Y5YVolatilitylower is calmerSharpehigher is betterWorst declinepast 10 yearsExpenseAssetsOverlapsame sectors
DYNF iShares U.S. Equity Factor Rotation Active ETF (this page)—−2.6%+1.1%+7.6%+13.0%+16.8%+104%+95.5%17.5%0.86−34.7%0.26%$42B—
SPMO Broad MarketInvesco S&P 500 Momentum ETF1/5 short2/2 long−9.4%−7.3%+7.9%+16.7%+17.2%+149%+130%20.9%0.91−30.9%0.13%$22B82%
MTUM Broad MarketiShares MSCI USA Momentum Factor ETF1/5 short1/2 long−9.2%−8.0%+4.9%+14.6%+15.8%+113%+63.6%22.2%0.56−34.1%0.15%$19B78%
JQUA Broad MarketJPMorgan U.S. Quality Factor ETF5/5 short0/2 long+2.1%+6.6%+16.0%+21.6%+22.8%+85.6%+88.7%15.7%0.89−32.9%0.12%$9.2B89%
VTV Broad MarketVanguard Morningstar Value ETF5/5 short0/2 long+2.7%+3.8%+12.7%+19.3%+23.9%+80.9%+78.0%13.7%0.91−36.8%0.03%$252B64%
ROUS Broad MarketHartford Multifactor US Equity ETF5/5 short0/2 long+2.5%+4.0%+10.2%+19.6%+22.6%+83.9%+78.0%14.4%0.88−35.5%0.19%$780M86%
OMFL Broad MarketInvesco Russell 1000 Dynamic Multifactor ETF5/5 short0/2 long+1.1%+4.1%+9.9%+16.2%+19.6%+67.0%+53.0%16.4%0.60−33.2%0.29%$4.8B86%
QUS Broad MarketState Street SPDR MSCI USA StrategicFactors ETF4/5 short0/2 long+2.5%+5.6%+10.2%+14.0%+16.7%+73.5%+69.3%14.2%0.81−33.8%0.15%$1.6B85%
DEUS Broad MarketXtrackers Russell US Multifactor ETF4/5 short0/2 long+3.8%+2.2%+8.1%+16.0%+18.2%+69.4%+55.1%15.4%0.65−40.5%0.17%$297M63%
LRGF Broad MarketiShares U.S. Equity Factor ETF3/5 short0/2 long−1.2%+2.7%+9.0%+13.0%+14.7%+90.6%+87.6%17.1%0.83−36.0%0.08%$3.7B90%
AVUS Broad MarketAvantis U.S. Equity ETF3/5 short0/2 long−1.0%+0.8%+7.3%+15.2%+20.0%+87.1%+76.7%17.2%0.75−37.0%0.15%$15B86%
QUAL Broad MarketiShares MSCI USA Quality Factor ETF3/5 short0/2 long+0.7%+3.5%+8.8%+13.4%+16.3%+76.1%+69.8%17.3%0.70−34.1%0.15%$48B92%
USMV Broad MarketiShares MSCI USA Min Vol Factor ETF3/5 short0/2 long+4.7%+7.9%+10.7%+11.7%+10.9%+52.3%+44.8%12.3%0.66−33.1%0.15%$24B80%
SPY Broad MarketState Street SPDR S&P 500 ETF2/5 short0/2 long−1.2%+2.5%+8.0%+12.7%+15.6%+88.4%+80.3%17.2%0.78−33.7%0.09%$823B92%
DFUS Broad MarketDimensional U.S. Equity ETF2/5 short0/2 long−1.4%+2.0%+7.7%+12.6%+15.6%+88.1%+77.4%17.3%0.75−24.6%0.09%$21B92%
DFAU Broad MarketDimensional - US Core Equity Market ETF2/5 short0/2 long−0.8%+2.0%+7.6%+13.0%+16.3%+86.2%+75.8%17.1%0.75−23.6%0.12%$13B90%
GSLC Broad MarketGoldman Sachs ActiveBeta U.S. Large Cap Equity ETF2/5 short0/2 long−0.6%+3.1%+7.8%+11.3%+13.9%+82.8%+71.7%16.7%0.73−33.7%0.09%$15B91%
VTI Broad MarketVanguard Morningstar Total Stock Market ETF2/5 short0/2 long−1.4%+1.9%+7.3%+12.4%+15.3%+87.3%+71.5%17.5%0.71−35.0%0.03%$2.3T92%
VUG Broad MarketVanguard Morningstar Growth ETF1/5 short0/2 long−4.2%+1.8%+5.2%+7.9%+9.2%+96.1%+75.4%22.6%0.61−35.6%0.03%$392B73%
SPHQ Broad MarketInvesco S&P 500 Quality ETF1/5 short0/2 long−1.3%−1.3%+5.0%+12.1%+14.7%+75.0%+73.7%16.7%0.75−31.6%0.20%$19B82%
SPLV Broad MarketInvesco S&P 500 Low Volatility ETF1/5 short0/2 long+6.1%+0.5%+5.3%+9.0%+6.8%+40.7%+32.6%12.6%0.51−36.3%0.25%$7.1B—
FLQL Broad MarketFranklin U.S. Large Cap Multifactor Index ETF0/5 short0/2 long−2.6%−0.5%+4.9%+11.6%+15.0%+88.3%+87.4%16.3%0.85−33.6%0.15%$2.2B92%
IWM Broad MarketiShares Russell 2000 ETF0/5 short0/2 long−3.7%−5.6%+0.6%+12.0%+14.8%+73.3%+29.4%22.4%0.34−41.1%0.19%$75B65%
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How did DYNF do year by year?

This table shows each investment's total return in every full calendar year since 2020, along with where DYNF ranked among its popular alternatives each year. Annual results reveal how consistently each one kept pace with DYNF and how far its good and bad years diverged, detail that multiyear averages tend to smooth over.

Note: DYNF began trading on March 21, 2019, so the table starts with 2020, its first full calendar year, and cannot show how it fared during the dot-com bust, the 2008 financial crisis or five other sell-offs.

Newest year first. Green marks a year in which the fund came out ahead of DYNF; gray means the two finished within a fraction of a point. The rank row places DYNF among the alternatives that traded the full year; dark green is the top quarter and red the bottom quarter.

InvestmentYears ahead of DYNF202520242023202220212020
DYNF This pageiShares U.S. Equity Factor Rotation Active ETF—+20.0%+30.3%+36.2%−20.3%+24.9%+13.5%
Rank among alternativesTop quarter in 3 of 63 of 224 of 222 of 2219 of 2216 of 2112 of 20
SPY S&P 500State Street SPDR S&P 500 ETF3 of 6+17.7%+24.9%+26.2%−18.2%+28.7%+18.3%
SPMO Invesco S&P 500 Momentum ETF4 of 6+26.6%+45.8%+17.6%−10.4%+22.7%+28.2%
MTUM iShares MSCI USA Momentum Factor ETF4 of 6+22.1%+32.9%+9.2%−18.3%+13.4%+29.8%
JQUA JPMorgan U.S. Quality Factor ETF3 of 6+11.7%+21.2%+25.1%−13.4%+28.7%+16.6%
VTV Vanguard Morningstar Value ETF2 of 6+15.3%+16.0%+9.3%−2.1%+26.5%+2.3%
ROUS Hartford Multifactor US Equity ETF2 of 6+15.2%+17.6%+15.0%−9.6%+27.3%+6.6%
OMFL Invesco Russell 1000 Dynamic Multifactor ETF3 of 6+13.6%+6.8%+21.6%−14.0%+28.9%+20.9%
QUS State Street SPDR MSCI USA StrategicFactors ETF2 of 6+14.1%+19.0%+21.8%−14.1%+26.7%+12.4%
DEUS Xtrackers Russell US Multifactor ETF2 of 6+10.4%+14.3%+14.7%−11.2%+26.3%+8.8%
LRGF iShares U.S. Equity Factor ETF1 of 6+16.5%+26.6%+25.8%−14.8%+25.0%+11.1%
AVUS Avantis U.S. Equity ETF3 of 6+16.7%+20.4%+21.8%−13.8%+28.7%+17.6%
QUAL iShares MSCI USA Quality Factor ETF2 of 6+12.7%+22.3%+30.9%−20.5%+26.9%+17.0%
USMV iShares MSCI USA Min Vol Factor ETF1 of 6+7.6%+15.7%+10.3%−9.4%+20.8%+5.7%
DFUS Dimensional U.S. Equity ETF1 of 4+17.4%+24.3%+26.4%−18.3%——
DFAU Dimensional - US Core Equity Market ETF2 of 5+16.8%+23.2%+24.8%−17.0%+26.8%—
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF3 of 6+16.2%+24.2%+25.1%−18.7%+27.2%+19.0%
VTI Vanguard Morningstar Total Stock Market ETF2 of 6+17.1%+23.8%+26.0%−19.5%+25.7%+21.1%
VUG Vanguard Morningstar Growth ETF4 of 6+19.4%+32.7%+46.8%−33.1%+27.4%+40.2%
SPHQ Invesco S&P 500 Quality ETF3 of 6+13.3%+25.4%+24.8%−15.8%+28.0%+17.4%
SPLV Invesco S&P 500 Low Volatility ETF1 of 6+4.1%+13.9%+0.5%−4.9%+24.1%−1.4%
FLQL Franklin U.S. Large Cap Multifactor Index ETF2 of 6+19.6%+24.3%+23.5%−14.8%+26.6%+10.7%
IWM iShares Russell 2000 ETF1 of 6+12.7%+11.4%+16.8%−20.5%+14.5%+20.0%
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Risk and diversification

How DYNF has fallen, how it held up in crashes beside the S&P 500 and its popular alternatives, and what moves independently of it.

What were DYNF's worst declines?

A drawdown is the decline from a peak to the lowest point before a new high. This section presents DYNF's five deepest drawdowns since it began trading in 2019, alongside the S&P 500's return over the same dates, and how long each took to recover. Together, these figures show how much an investor could have lost and how long it took to get back to even.

Note: DYNF began trading on March 21, 2019, so this list cannot include the dot-com bust, the 2008 financial crisis or five other sell-offs. The crash tests on this page show how older funds and the S&P 500 fared through those years.

Green means DYNF fell less than the S&P 500 over the same dates. Based on daily closing prices with dividends reinvested.

DuringDYNF fellS&P 500, same datesPeakLowTime to the lowBack at the peakTime to recover
Covid crash−34.7%−33.7%Feb 2020Mar 20201 monthSep 20206 months
2022 bear market−27.0%−22.7%Nov 2021Sep 202210 monthsJul 202310 months
No named crash−18.7%−18.8%Feb 2025Apr 20252 monthsJun 20252 months
No named crash−10.5%−10.0%Jul 2023Oct 20233 monthsNov 20231 month
No named crash−9.3%−8.4%Jul 2024Aug 20241 monthSep 20241 month

How did DYNF do in stock market crashes?

This section measures how far DYNF, the S&P 500 and each alternative fell from peak to trough during every major market crash since 2000. A smaller decline means an investment held up better, and comparing results across crashes shows whether that resilience was consistent or a one-off.

Note: DYNF began trading on March 21, 2019, so its row reads "Not yet trading" for the dot-com bust, the 2008 financial crisis or five other sell-offs. The older alternatives and the S&P 500 show how those crashes played out.

Newest crash first. Each figure is the fund's deepest fall within the crash window; green means a smaller fall than DYNF.

InvestmentHeld up better2023 regional bank crisisMar 20232022 bear marketJan 2022Covid crashFeb 2020Late-2018 sell-offSep 2018February 2018 volatility shockFeb 20182015 China and oil sell-offAug 20152011 euro debt crisisJul 20112010 flash crashMay 20102008 financial crisisOct 2007Dot-com bustMar 2000
DYNF This pageiShares U.S. Equity Factor Rotation Active ETF—−3.6%−26.0%−34.7%Not yet tradingNot yet tradingNot yet tradingNot yet tradingNot yet tradingNot yet tradingNot yet trading
SPY S&P 500State Street SPDR S&P 500 ETF2 of 3−3.4%−24.5%−33.7%−19.3%−6.5%−12.8%−17.9%−1.5%−55.2%−47.5%
SPMO Invesco S&P 500 Momentum ETF3 of 3−2.4%−22.7%−30.9%−23.4%−6.7%—————
MTUM iShares MSCI USA Momentum Factor ETF2 of 3−3.0%−27.9%−34.1%−22.1%−6.4%−13.0%————
JQUA JPMorgan U.S. Quality Factor ETF2 of 3−3.2%−21.8%−32.9%−17.1%−8.4%—————
VTV Vanguard Morningstar Value ETF1 of 3−4.0%−17.0%−36.4%−17.3%−6.5%−11.6%−18.8%−1.1%−59.2%—
ROUS Hartford Multifactor US Equity ETF1 of 3−3.2%−18.8%−35.5%−20.8%−6.9%−15.6%————
OMFL Invesco Russell 1000 Dynamic Multifactor ETF3 of 3−2.2%−21.5%−32.8%−18.2%−6.1%—————
QUS State Street SPDR MSCI USA StrategicFactors ETF3 of 3−3.0%−22.1%−33.8%−17.4%−6.4%−11.5%————
DEUS Xtrackers Russell US Multifactor ETF1 of 3−4.5%−20.8%−40.5%−19.6%−5.8%—————
LRGF iShares U.S. Equity Factor ETF1 of 3−4.1%−21.6%−36.0%−21.3%−6.2%−15.2%————
AVUS Avantis U.S. Equity ETF1 of 3−5.2%−22.2%−37.0%———————
QUAL iShares MSCI USA Quality Factor ETF1 of 3−3.3%−27.5%−34.1%−20.5%−6.1%−11.2%————
USMV iShares MSCI USA Min Vol Factor ETF3 of 3−2.2%−17.0%−33.0%−12.7%−6.2%−9.5%————
DFUS Dimensional U.S. Equity ETF1 of 2−3.9%−24.5%————————
DFAU Dimensional - US Core Equity Market ETF1 of 2−4.2%−23.6%————————
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF2 of 3−3.4%−24.6%−33.7%−19.6%−6.1%—————
VTI Vanguard Morningstar Total Stock Market ETF1 of 3−4.0%−25.2%−35.0%−20.0%−6.3%−14.1%−19.5%−1.9%−55.5%—
VUG Vanguard Morningstar Growth ETF1 of 3−3.5%−33.7%−31.8%−22.3%−6.2%−15.2%−18.3%−2.0%−50.7%—
SPHQ Invesco S&P 500 Quality ETF3 of 3−2.5%−25.0%−31.5%−20.8%−6.3%−8.5%−15.3%−3.2%−57.8%—
SPLV Invesco S&P 500 Low Volatility ETF2 of 3−2.1%−17.3%−35.9%−11.5%−6.3%−11.3%−11.7%———
FLQL Franklin U.S. Large Cap Multifactor Index ETF3 of 3−2.7%−20.9%−33.6%−16.4%−6.6%—————
IWM iShares Russell 2000 ETF0 of 3−7.1%−26.8%−40.8%−25.7%−5.5%−21.5%−27.2%−2.9%−58.4%—
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How closely does DYNF move with the S&P 500?

Upside capture measures how much of the S&P 500's gains an investment kept in the months the market rose, and downside capture how much of its losses it took in the months the market fell. An investment that captures more of the gains than the losses has compounded ahead of the market over time. This section compares DYNF with its popular alternatives on both measures, and on beta (how strongly each has moved with the market), over the past 5 years.

Monthly total returns over the past 5 years, measured against SPY. 100% capture or a beta of 1.00 means moving in line with the S&P 500. Green marks a better figure than DYNF's: more upside, less downside or a higher capture ratio. Sorted by capture ratio.

InvestmentUpside captureDownside captureCapture ratioBeta
DYNF This pageiShares U.S. Equity Factor Rotation Active ETF106%97%1.091.02
SPMO Invesco S&P 500 Momentum ETF107%71%1.511.09
MTUM iShares MSCI USA Momentum Factor ETF90%81%1.101.06
FLQL Franklin U.S. Large Cap Multifactor Index ETF97%89%1.100.95
SPHQ Invesco S&P 500 Quality ETF88%82%1.080.90
JQUA JPMorgan U.S. Quality Factor ETF94%88%1.070.90
VTV Vanguard Morningstar Value ETF84%79%1.070.75
ROUS Hartford Multifactor US Equity ETF86%81%1.060.83
LRGF iShares U.S. Equity Factor ETF100%95%1.050.98
QUS State Street SPDR MSCI USA StrategicFactors ETF86%88%0.980.83
AVUS Avantis U.S. Equity ETF99%101%0.981.00
DFUS Dimensional U.S. Equity ETF100%101%0.981.01
DFAU Dimensional - US Core Equity Market ETF99%102%0.971.00
GSLC Goldman Sachs ActiveBeta U.S. Large Cap Equity ETF97%101%0.960.98
QUAL iShares MSCI USA Quality Factor ETF97%102%0.951.00
VTI Vanguard Morningstar Total Stock Market ETF99%104%0.951.01
VUG Vanguard Morningstar Growth ETF112%120%0.941.22
USMV iShares MSCI USA Min Vol Factor ETF65%74%0.890.64
OMFL Invesco Russell 1000 Dynamic Multifactor ETF87%99%0.880.94
DEUS Xtrackers Russell US Multifactor ETF83%95%0.880.86
SPLV Invesco S&P 500 Low Volatility ETF51%60%0.840.53
IWM iShares Russell 2000 ETF97%135%0.711.13
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What diversifies DYNF?

Correlation measures how closely two investments move together, on a scale from 1 (in lockstep) through 0 (unrelated) to -1 (in opposite directions). This section lists large ETFs and stocks whose returns have had a low correlation with DYNF's. Because such investments tend not to fall at the same time, pairing DYNF with them can reduce a portfolio's overall swings.

Only ETFs with at least $1.0B in assets and stocks worth at least $10B, with a correlation below 0.5 over the past 5 years and a positive return, are included, ranked by Sharpe ratio; funds that hold the same thing are shown once. The year columns are the years in which DYNF lost money. The last two columns show a portfolio that is 80% DYNF and 20% the other investment, rebalanced monthly.

ETFs

InvestmentCorrelation5Y returnSharpe202280/20 mix volatility80/20 mix annual return
DYNF iShares U.S. Equity Factor Rotation Active ETF (this page)1.00+95.5%0.86−20.3%16.2%+16.1%
GCOW InternationalPacer Global Cash Cows Dividend ETF0.47+95.7%1.06+5.5%14.6%+15.8%
MLPX EnergyGlobal X - MLP & Energy Infrastructure ETF0.49+138%0.98+21.5%15.2%+17.2%
XLE EnergyState Street Energy Select Sector SPDR ETF0.24+178%0.94+64.4%15.1%+18.1%
GLD CommoditiesSPDR Gold Shares0.12+120%0.93−0.8%13.8%+16.9%
AMLP EnergyAlerian MLP ETF0.42+114%0.90+25.5%14.9%+16.8%
DBA AlternativesInvesco DB Agriculture Fund0.13+66.7%0.81+2.5%13.4%+15.3%
IHE Broad MarketiShares U.S. Pharmaceuticals ETF0.48+83.2%0.81−4.9%14.6%+15.5%
DBMF AlternativesiMGP DBi Managed Futures Strategy ETF-0.29+57.5%0.80+21.6%12.5%+15.3%

Stocks

InvestmentCorrelation5Y returnSharpe202280/20 mix volatility80/20 mix annual return
DYNF iShares U.S. Equity Factor Rotation Active ETF (this page)1.00+95.5%0.86−20.3%16.2%+16.1%
CAH Medical - DistributionCardinal Health, Inc.0.28+471%1.54+54.1%15.3%+20.8%
MCK Medical - DistributionMcKesson Corporation0.15+397%1.41+51.8%14.6%+20.2%
MPC Oil & Gas Refining & MarketingMarathon Petroleum Corporation0.23+660%1.39+86.6%15.8%+22.9%
PBR Oil & Gas IntegratedPetróleo Brasileiro S.A. - Petrobras0.07+721%1.32+55.4%15.4%+22.8%
ATI Manufacturing - Metal FabricationATI Inc.0.31+913%1.29+87.5%18.3%+26.0%
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Common questions

What was DYNF's worst drawdown?

DYNF's deepest decline since it began trading in 2019 was 34.7%, from February to March 2020. It took six months from the low to climb back to its old high. Because DYNF launched in March 2019, that record does not include the dot-com bust, the 2008 financial crisis or five other sell-offs.

What were DYNF's best and worst years?

Over six full calendar years, DYNF's best year was 2023, when it returned 36.2%. Its worst was 2022, with a return of -20.3%.

Is there a better investment than DYNF?

Among DYNF's popular alternatives, SPMO fell less than DYNF in each recent sell-off and kept up with it over the past 5 years. Looking beyond its popular alternatives, PVAL (US large-cap value) earned more than DYNF with less volatility over the past 5 years: 15.9% a year at 15.1% volatility, against 14.4% a year at 17.5%.

Is DYNF more volatile than the S&P 500?

Yes. DYNF's volatility over the past 5 years was 17.5%, 1.0 times the S&P 500's 17.2%. Volatility measures how widely returns swing around their average: in roughly two years out of three, DYNF's return lands within 17.5% of its average, either way. The higher it is, the rougher the ride and the harder it is to hold through a slump.

What is DYNF's Sharpe ratio?

DYNF's Sharpe ratio over the past 5 years was 0.86, against 0.78 for the S&P 500, so DYNF earned more for each unit of risk than an index fund did. The Sharpe ratio is the return earned above cash for each unit of volatility: two investments with the same return are not equal if one got there with far bigger swings.

How correlated is DYNF with the S&P 500?

Over the past 5 years, DYNF's monthly returns had a correlation of 0.99 with the S&P 500. Correlation runs from 1 (moving in lockstep) through 0 (unrelated) to −1 (moving in opposite directions). They move almost in lockstep, so holding both adds little diversification. In the table, the correlation column measures each option against DYNF instead: the lower it is, the more that option would diversify a DYNF holding.

What are the best alternatives to DYNF?

None of the 22 popular alternatives we compared outperformed DYNF in at least 3 of 5 short-term and 2 of 2 long-term timeframes, which says more about DYNF's strength than about its alternatives.

Did DYNF outperform the S&P 500?

DYNF finished ahead of the S&P 500 (SPY) in three of six full calendar years. In 2025, it returned +20.0%, against +17.7% for the index.

How did DYNF do in stock market crashes?

DYNF fell less than the S&P 500 (SPY) in none of the three major crashes it has traded through, and further in two. The clearest case was the 2022 bear market, when DYNF fell 26.0% and the S&P 500 fell 24.5%.

What diversifies DYNF?

These had a low correlation with DYNF over the past 5 years and still earned a positive 5-year return: among large ETFs, GCOW (correlation 0.47), MLPX (correlation 0.49) and XLE (correlation 0.24); among large stocks, CAH (correlation 0.28), MCK (correlation 0.15) and MPC (correlation 0.23). A correlation near zero means the two have moved largely independently.

How we measure

More research

Popular alternatives to DYNF

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