DWAS
Invesco Dorsey Wright SmallCap Momentum ETF
SMB
UMD
Adj. R2
0.933
Rel. Sharpe
1.061
Mkt beta
1.10
AUM
US$383M
MER
0.60%
Valuation
274
ETF comparison
Verified factor-similar pair
DWAS vs VFMO
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
UMD
Similarity score
84
Verified similar
The score combines exposure-level distance, factor-vector shape, market-beta closeness, and a small backtested relative-Sharpe term.
Quick Read
- VFMO has the higher backtested relative Sharpe (1.413 vs 1.061).
- VFMO has the lower published fee (0.13% vs 0.60%).
- VFMO is cheaper on dividend valuation (147 vs 274, where 100 is each fund's historical median).
- VFMO has the stronger regression fit (adjusted R-squared 0.955 vs 0.933).
These are screening signals, not a complete review of portfolio construction, turnover, taxes, or trading quality.
VFMO
Vanguard U.S. Momentum Factor ETF
SMB
UMD
Adj. R2
0.955
Rel. Sharpe
1.413
Mkt beta
1.07
AUM
US$1.5B
MER
0.13%
Valuation
147
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 +0.52
HML
diff -0.01
RMW
diff -0.02
CMA
diff -0.02
UMD
diff +0.00
Why This Pair Matches
Exposure level
82
Exposure shape
98
Mkt beta diff
0.03
Rel. Sharpe diff
0.352
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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