FAD
First Trust Multi Cap Growth AlphaDEX Fund
SMB
UMD
Adj. R2
0.938
Rel. Sharpe
0.954
Mkt beta
1.06
AUM
US$421M
MER
0.63%
Valuation
515
ETF comparison
Verified factor-similar pair
FAD vs IVOG
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
85
Verified similar
Score blends exposure-level distance, factor-vector shape, market-beta closeness, and a small backtested relative-Sharpe term.
IVOG
Vanguard S&P Mid-Cap 400 Growth ETF
SMB
UMD
Adj. R2
0.917
Rel. Sharpe
0.914
Mkt beta
1.01
AUM
US$1.5B
MER
0.10%
Valuation
115
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 +0.01
HML
diff -0.16
RMW
diff -0.17
CMA
diff +0.01
UMD
diff +0.04
Why This Pair Matches
Exposure level
83
Exposure shape
95
Mkt beta diff
0.05
Rel. Sharpe diff
0.041
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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