Alan,
Depending upon its chemical structure, olefin may be called polypropylene. The plus is that polypropylene has 0% moisture regain but the minuses are that it easily damaged by dryer heat and it retains body odors. It is a common base layer fabric.
Acrylic's major minuses are that it has a moisture regain that is approximately 4x the polyester used in in Polartec fleece, it pills easier than polyester, and that it is less resilient. The plus is that it is less expensive than polyester. It is a common fleece insulation layer fabric.