It doesn't, as far as damage resistance goes, but here's a bit more info for those who are curious about some under-the-hood stuff about how this game works:
Power Boost and its variants provide increased strength to a variety of buffs. On its own, PB does nothing - it just makes some of your other powers stronger. The game considers that an "external boost." There are a lot of other types of external boosts, like inspirations and ally buffs. The way the game handles these external boosts is on a per-power basis: either the entire power is able to be affected by those boosts or none of it is. In the case of Fade, here's what you have:
A defense portion which can be enhanced.
A damage resistance portion which can also be enhanced.
Because of some weird quirks with how the game was originally written, damage and damage resistance are very closely tied together, so any power that affects your damage resistance and can be enhanced has to be flagged to ignore external boosts otherwise the amount of damage resistance it gives would be affected by your damage bonus.