CSD
Invesco S&P Spin-Off ETF
SMB
Adj. R2
0.833
Rel. Sharpe
0.927
Mkt beta
1.13
AUM
US$114M
MER
0.67%
Valuation
420
ETF comparison
Verified factor-similar pair
CSD vs FIW
These two ETFs meet the same FF6 US comparison criteria: US-listed equity ETFs, the same USD model basis, at least one material non-market factor, and 100% overlap in statistically significant material factor exposure.
SMB
Similarity score
83
Verified similar
The score combines exposure-level distance, factor-vector shape, market-beta closeness, and a small backtested relative-Sharpe term.
Quick Read
- FIW has the higher backtested relative Sharpe (0.951 vs 0.927).
- FIW has the lower published fee (0.51% vs 0.67%).
- FIW is cheaper on dividend valuation (99 vs 420, where 100 is each fund's historical median).
- CSD has the stronger regression fit (adjusted R-squared 0.833 vs 0.827).
These are screening signals, not a complete review of portfolio construction, turnover, taxes, or trading quality.
FIW
First Trust Water ETF
SMB
Adj. R2
0.827
Rel. Sharpe
0.951
Mkt beta
0.96
AUM
US$1.8B
MER
0.51%
Valuation
99
Factor Exposure Match
Blue bars compare raw factor beta magnitude. Green bars compare absolute t-stat strength. Dim bars indicate the t-stat is below 1.96.
SMB
diff -0.02
HML
diff +0.21
RMW
diff -0.15
CMA
diff -0.07
UMD
diff -0.02
Why This Pair Matches
Exposure level
81
Exposure shape
94
Mkt beta diff
0.16
Rel. Sharpe diff
0.024
This comparison focuses on measured factor exposure. It does not compare holdings methodology, turnover, tax handling, or issuer process. Backtested relative Sharpe is a secondary signal rather than a stand-alone forecast. See methodology.
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