Verified factor-similar pair

IUSV vs NULV

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.

HML

Similarity score

Near substitute

Score blends exposure-level distance, factor-vector shape, market-beta closeness, and a small backtested relative-Sharpe term.

IUSV

iShares Core S&P US Value ETF

HML

Adj. R2

0.963

Rel. Sharpe

1.050

Mkt beta

0.94

AUM

US$24.7B

MER

0.04%

Valuation

122

NULV

Nuveen ESG Large-Cap Value ETF

HML

Adj. R2

0.926

Rel. Sharpe

0.754

Mkt beta

0.90

AUM

US$2.0B

MER

0.26%

Valuation

157

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

IUSV

+0.01

|t|

+0.6

NULV

+0.00

|t|

+0.1

diff +0.01

HML

IUSV

+0.29

|t|

+14.0

NULV

+0.29

|t|

+6.6

diff -0.00

RMW

IUSV

+0.08

|t|

+3.3

NULV

+0.09

|t|

+1.5

diff -0.01

CMA

IUSV

+0.16

|t|

+5.4

NULV

+0.15

|t|

+2.3

diff +0.01

UMD

IUSV

-0.03

|t|

-2.5

NULV

-0.01

|t|

-0.2

diff -0.02

Why This Pair Matches

Exposure level

Exposure shape

100

Mkt beta diff

0.04

Rel. Sharpe diff

0.296

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.

IUSV fund page NULV fund page US ETF Leaders US Universe

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