DWAS
Invesco Dorsey Wright SmallCap Momentum ETF
SMB
UMD
Adj. R2
0.934
Rel. Sharpe
1.019
Mkt beta
1.10
AUM
US$383M
MER
0.60%
Valuation
259
ETF comparison
Verified factor-similar pair
DWAS vs VFMO
These two ETFs pass the same FF6 US similarity lane: US-listed equity ETFs, same USD model basis, at least one material non-market factor, and 100% overlap in statistically significant material factor exposure.
SMB
UMD
Similarity score
83
Verified similar
Score blends exposure-level distance, factor-vector shape, market-beta closeness, and a small backtested relative-Sharpe term.
VFMO
Vanguard U.S. Momentum Factor ETF
SMB
UMD
Adj. R2
0.957
Rel. Sharpe
1.424
Mkt beta
1.09
AUM
US$1.5B
MER
0.13%
Valuation
136
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 +0.54
HML
diff -0.03
RMW
diff +0.02
CMA
diff +0.00
UMD
diff -0.01
Why This Pair Matches
Exposure level
81
Exposure shape
97
Mkt beta diff
0.01
Rel. Sharpe diff
0.405
This comparison focuses on measured factor exposure, not a qualitative review of each fund's portfolio-construction process. Backtested relative Sharpe is included as a secondary signal, while we continue refining a comparison metric that separates factor payoff from alpha. See methodology.
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