FNY
First Trust Mid Cap Growth AlphaDEX Fund
SMB
UMD
Adj. R2
0.921
Rel. Sharpe
0.943
Mkt beta
1.07
AUM
US$486M
MER
0.73%
Valuation
128
ETF comparison
Verified factor-similar pair
FNY vs PRN
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
83
Verified similar
The score combines exposure-level distance, factor-vector shape, market-beta closeness, and a small backtested relative-Sharpe term.
Quick Read
- PRN has the higher backtested relative Sharpe (1.155 vs 0.943).
- PRN has the lower published fee (0.69% vs 0.73%).
- FNY is cheaper on dividend valuation (128 vs 225, where 100 is each fund's historical median).
- FNY has the stronger regression fit (adjusted R-squared 0.921 vs 0.845).
These are screening signals, not a complete review of portfolio construction, turnover, taxes, or trading quality.
PRN
Invesco Dorsey Wright Industrials Momentum ETF
SMB
UMD
Adj. R2
0.845
Rel. Sharpe
1.155
Mkt beta
1.14
AUM
US$363M
MER
0.69%
Valuation
225
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 +0.07
HML
diff +0.03
RMW
diff +0.00
CMA
diff -0.09
UMD
diff +0.10
Why This Pair Matches
Exposure level
81
Exposure shape
99
Mkt beta diff
0.07
Rel. Sharpe diff
0.212
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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