IVOV
Vanguard S&P Mid-Cap 400 Value ETF
SMB
HML
Adj. R2
0.954
Rel. Sharpe
0.934
Mkt beta
1.00
AUM
US$1.2B
MER
0.10%
Valuation
114
ETF comparison
Verified factor-similar pair
IVOV vs MDYV
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
HML
Similarity score
96
Near substitute
The score combines exposure-level distance, factor-vector shape, market-beta closeness, and a small backtested relative-Sharpe term.
Quick Read
- IVOV has the higher backtested relative Sharpe (0.934 vs 0.894).
- IVOV has the lower published fee (0.10% vs 0.15%).
- IVOV is cheaper on dividend valuation (114 vs 116, where 100 is each fund's historical median).
These are screening signals, not a complete review of portfolio construction, turnover, taxes, or trading quality.
MDYV
State Street SPDR S&P 400 Mid Cap Value ETF
SMB
HML
Adj. R2
0.949
Rel. Sharpe
0.894
Mkt beta
0.98
AUM
US$2.5B
MER
0.15%
Valuation
116
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 +0.04
RMW
diff -0.00
CMA
diff -0.01
UMD
diff -0.01
Why This Pair Matches
Exposure level
96
Exposure shape
100
Mkt beta diff
0.02
Rel. Sharpe diff
0.039
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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