IQSM
NYLI Candriam U.S. Mid Cap Equity ETF
SMB
Adj. R2
0.915
Rel. Sharpe
0.702
Mkt beta
1.04
AUM
US$312M
MER
0.15%
Valuation
114
ETF comparison
Verified factor-similar pair
IQSM vs PHO
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
Similarity score
80
Verified similar
The score combines exposure-level distance, factor-vector shape, market-beta closeness, and a small backtested relative-Sharpe term.
Quick Read
- IQSM has the higher backtested relative Sharpe (0.702 vs 0.630).
- IQSM has the lower published fee (0.15% vs 0.59%).
- PHO is cheaper on dividend valuation (92 vs 114, where 100 is each fund's historical median).
- IQSM has the stronger regression fit (adjusted R-squared 0.915 vs 0.796).
These are screening signals, not a complete review of portfolio construction, turnover, taxes, or trading quality.
PHO
Invesco Water Resources ETF
SMB
Adj. R2
0.796
Rel. Sharpe
0.630
Mkt beta
1.00
AUM
US$2.1B
MER
0.59%
Valuation
92
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 +0.00
HML
diff +0.30
RMW
diff -0.18
CMA
diff +0.03
UMD
diff -0.04
Why This Pair Matches
Exposure level
77
Exposure shape
89
Mkt beta diff
0.04
Rel. Sharpe diff
0.071
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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