GRPM
Invesco S&P MidCap 400 GARP ETF
SMB
Adj. R2
0.930
Rel. Sharpe
0.837
Mkt beta
1.02
AUM
US$464M
MER
0.35%
Valuation
127
ETF comparison
Verified factor-similar pair
GRPM vs MDYG
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
Similarity score
81
Verified similar
Score blends exposure-level distance, factor-vector shape, market-beta closeness, and a small backtested relative-Sharpe term.
MDYG
State Street SPDR S&P 400 Mid Cap Growth ETF
SMB
Adj. R2
0.911
Rel. Sharpe
0.850
Mkt beta
1.03
AUM
US$2.6B
MER
0.15%
Valuation
156
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 +0.03
HML
diff +0.30
RMW
diff +0.02
CMA
diff -0.02
UMD
diff -0.10
Why This Pair Matches
Exposure level
75
Exposure shape
92
Mkt beta diff
0.00
Rel. Sharpe diff
0.013
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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