MTUM
iShares MSCI USA Momentum Factor ETF
UMD
Adj. R2
0.887
Rel. Sharpe
1.403
Mkt beta
1.08
AUM
US$22.3B
MER
0.15%
Valuation
182
ETF comparison
Verified factor-similar pair
MTUM vs SPMO
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.
UMD
Similarity score
93
Near substitute
The score combines exposure-level distance, factor-vector shape, market-beta closeness, and a small backtested relative-Sharpe term.
Quick Read
- SPMO has the higher backtested relative Sharpe (1.777 vs 1.403).
- SPMO has the lower published fee (0.13% vs 0.15%).
- SPMO is cheaper on dividend valuation (153 vs 182, where 100 is each fund's historical median).
- MTUM has the stronger regression fit (adjusted R-squared 0.887 vs 0.866).
These are screening signals, not a complete review of portfolio construction, turnover, taxes, or trading quality.
SPMO
Invesco S&P 500 Momentum ETF
UMD
Adj. R2
0.866
Rel. Sharpe
1.777
Mkt beta
1.11
AUM
US$13.4B
MER
0.13%
Valuation
153
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 +0.08
HML
diff -0.04
RMW
diff -0.01
CMA
diff -0.04
UMD
diff +0.01
Why This Pair Matches
Exposure level
94
Exposure shape
99
Mkt beta diff
0.02
Rel. Sharpe diff
0.373
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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