PY
Principal Value ETF
HML
Adj. R2
0.900
Rel. Sharpe
0.606
Mkt beta
1.01
AUM
US$204M
MER
0.15%
Valuation
113
ETF comparison
Verified factor-similar pair
PY vs SPVM
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
86
Verified similar
Score blends exposure-level distance, factor-vector shape, market-beta closeness, and a small backtested relative-Sharpe term.
SPVM
Invesco S&P 500 Value with Momentum ETF
HML
Adj. R2
0.908
Rel. Sharpe
1.013
Mkt beta
0.96
AUM
US$116M
MER
0.51%
Valuation
109
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 +0.19
HML
diff -0.09
RMW
diff +0.10
CMA
diff -0.03
UMD
diff -0.04
Why This Pair Matches
Exposure level
86
Exposure shape
95
Mkt beta diff
0.06
Rel. Sharpe diff
0.407
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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