Clown fans are eating it up on Twitter that we’re the dogs.
I remember Deace mentioning on a pod last year that the sharps were loving the Hawks. They had a great point differential, but there is still a national perception that they will play tight games and lose more as favorites than your average team. The spreads reflected the national perception, and the sharps were making hay off that.
As favorites last year, Iowa had a cover % of 78% (tied for 10th highest, 7-2 in covering in 9 games as favorites). In W/L, they were 8-1 as favorites (NW was the lone loss, which I believe was a double-digit spread). They were tied for the 10th highest cover % in the nation, and the only P5 programs above them with at least 9 games as favorites were Wash St. and Tex A&M. Going back through the new-Kirk era (starting in 2015), Iowa has the 3rd highest cover% among P5 schools with at least 20 games as favorites (Tex Tech and Wash St. just slightly above them). In terms of win% as a favorite over that span, Iowa is behind only Clemson, Alabama, Kansas St., and Oklahoma (among P5 schools favored at least 20 times). As long as we are bucking perceived trends, Iowa has the 13th highest over% in the nation among P5 programs in the new-Kirk era.
But as underdogs last year, the Hawks only beat the spread 1 time out of 4, and they won that game outright (bowl win vs. Miss St.). They lost their 3 regular season games in which they were dogs (Wisc, PSU, and Purdue), and didn't beat the spread in any. In the new-Kirk era, Iowa is actually in the bottom 3rd of the country in beating the spread as dogs (they are in the top third in winning outright as dogs).
FWIW, Iowa St. was 2-4 in covering the spread as favorites last year, but they were 6-0 W/L when favored. They were middle of the pack as underdogs (both ATS and W/L).
All of the above data from: https://www.teamrankings.com/ncf/trends/win_trends/?range=yearly_since_2015&sc=is_fav