MTUM
iShares MSCI USA Momentum Factor ETF
UMD
Adj. R2
0.903
Rel. Sharpe
1.272
Mkt beta
1.08
AUM
US$22.3B
MER
0.15%
Valuation
164
ETF comparison
Verified factor-similar pair
MTUM vs SPMO
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.
UMD
Similarity score
92
Near substitute
Score blends exposure-level distance, factor-vector shape, market-beta closeness, and a small backtested relative-Sharpe term.
SPMO
Invesco S&P 500 Momentum ETF
UMD
Adj. R2
0.879
Rel. Sharpe
1.652
Mkt beta
1.09
AUM
US$13.4B
MER
0.13%
Valuation
147
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 +0.07
HML
diff -0.03
RMW
diff -0.03
CMA
diff -0.05
UMD
diff +0.01
Why This Pair Matches
Exposure level
93
Exposure shape
99
Mkt beta diff
0.02
Rel. Sharpe diff
0.380
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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