IWM
iShares Russell 2000 ETF
SMB
Adj. R2
0.986
Rel. Sharpe
0.798
Mkt beta
1.02
AUM
US$73.2B
MER
0.19%
Valuation
142
ETF comparison
Verified factor-similar pair
IWM vs UPGD
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
83
Verified similar
The score combines exposure-level distance, factor-vector shape, market-beta closeness, and a small backtested relative-Sharpe term.
Quick Read
- IWM has the higher backtested relative Sharpe (0.798 vs 0.583).
- IWM has the lower published fee (0.19% vs 0.40%).
- UPGD is cheaper on dividend valuation (64 vs 142, where 100 is each fund's historical median).
- IWM has the stronger regression fit (adjusted R-squared 0.986 vs 0.880).
These are screening signals, not a complete review of portfolio construction, turnover, taxes, or trading quality.
UPGD
Invesco Bloomberg Analyst Rating Improvers ETF
SMB
Adj. R2
0.880
Rel. Sharpe
0.583
Mkt beta
1.06
AUM
US$110M
MER
0.40%
Valuation
64
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 +0.17
HML
diff +0.04
RMW
diff -0.15
CMA
diff -0.02
UMD
diff +0.10
Why This Pair Matches
Exposure level
80
Exposure shape
98
Mkt beta diff
0.05
Rel. Sharpe diff
0.214
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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