Verified factor-similar pair

VBR vs VIOV

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.

SMB HML

Similarity score

Near substitute

Score blends exposure-level distance, factor-vector shape, market-beta closeness, and a small backtested relative-Sharpe term.

VBR

Vanguard Small Cap Value ETF

SMB HML

Adj. R2

0.975

Rel. Sharpe

1.029

Mkt beta

1.01

AUM

US$33.7B

MER

0.05%

Valuation

106

VIOV

Vanguard S&P Small-Cap 600 Value ETF

SMB HML

Adj. R2

0.979

Rel. Sharpe

1.077

Mkt beta

0.99

AUM

US$1.6B

MER

0.10%

Valuation

101

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

VBR

+0.60

|t|

+24.6

VIOV

+0.90

|t|

+31.0

diff -0.30

HML

VBR

+0.32

|t|

+13.6

VIOV

+0.35

|t|

+12.8

diff -0.03

RMW

VBR

+0.12

|t|

+4.0

VIOV

+0.11

|t|

+3.2

diff +0.01

CMA

VBR

+0.03

|t|

+0.8

VIOV

+0.05

|t|

+1.3

diff -0.02

UMD

VBR

-0.03

|t|

-2.3

VIOV

-0.04

|t|

-2.0

diff +0.01

Why This Pair Matches

Exposure level

Exposure shape

100

Mkt beta diff

0.02

Rel. Sharpe diff

0.048

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.

VBR fund page VIOV fund page US ETF Leaders US Universe

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