AFTY vs. ICOW

Last updated Jun 4, 2026

AFTY (Pacer CSOP FTSE China A50 ETF) and ICOW (Pacer Developed Markets International Cash Cows 100 ETF) are both exchange-traded funds - AFTY is a China Equities fund tracking the FTSE China A 50, while ICOW is a Foreign Large Cap Equities fund tracking the Pacer Developed Markets International Cash Cows 100 Index. Both are passively managed. At a 0.44 correlation, their price movements are largely independent. AFTY charges 0.70%/yr vs 0.65%/yr for ICOW.

Performance

AFTY vs. ICOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer CSOP FTSE China A50 ETF (AFTY) and Pacer Developed Markets International Cash Cows 100 ETF (ICOW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

AFTY

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ICOW

• 1D: -0.64%
• 1M: 3.47%
• YTD: 17.35%
• 6M: 18.06%
• 1Y: 39.15%
• 3Y*: 20.17%
• 5Y*: 10.06%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AFTY vs. ICOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AFTY Pacer CSOP FTSE China A50 ETF	0.00%	0.00%	20.48%	-12.80%	-22.47%	-7.37%	33.77%	44.23%	-24.26%	26.41%
ICOW Pacer Developed Markets International Cash Cows 100 ETF	17.35%	36.95%	-2.59%	18.94%	-7.98%	11.52%	7.20%	17.91%	-16.09%	16.98%

Correlation

The correlation between AFTY and ICOW is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (All Time) Calculated using the full available price history since Jun 20, 2017	0.44

The correlation between AFTY and ICOW shifts across timeframes, from 0.26 (3 years) to 0.44 (all time), reflecting how their relationship changes across market environments.

AFTY vs. ICOW - Sectors Allocation Comparison

Sectors	AFTY	ICOW
Financial Services	50.4%	-
Basic Materials	15.5%	5.4%
Energy	11.5%	23.7%
Technology	7.4%	6.2%
Consumer Defensive	6.1%	8.5%
Industrials	4.7%	28.7%
Utilities	4.4%	-
Communication Services	-	8.9%
Consumer Cyclical	-	11.6%
Healthcare	-	7.1%
Real Estate	-	-

Return for Risk

AFTY vs. ICOW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ICOW

ICOW Risk / Return Rank: 84
ICOW Sharpe Ratio Rank: 86
ICOW Sortino Ratio Rank: 82
ICOW Omega Ratio Rank: 82
ICOW Calmar Ratio Rank: 86
ICOW Martin Ratio Rank: 84

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AFTY vs. ICOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer CSOP FTSE China A50 ETF (AFTY) and Pacer Developed Markets International Cash Cows 100 ETF (ICOW). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	AFTY	ICOW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.87	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.55	—

Drawdowns

Drawdown Indicators

	AFTY	ICOW	Difference
Max Drawdown Largest peak-to-trough decline	—	-43.49%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.02%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.81%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.48%	—
Current Drawdown Current decline from peak	—	-0.64%	—
Average Drawdown Average peak-to-trough decline	—	-7.59%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.24%	—

Volatility

Volatility by Period

	AFTY	ICOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.59%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	13.73%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	16.64%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	18.47%	—

AFTY vs. ICOW - Expense Ratio Comparison

AFTY has a 0.70% expense ratio, which is higher than ICOW's 0.65% expense ratio.

Dividends

AFTY vs. ICOW - Dividend Comparison

AFTY has not paid dividends to shareholders, while ICOW's dividend yield for the trailing twelve months is around 2.12%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AFTY Pacer CSOP FTSE China A50 ETF	0.00%	0.00%	0.00%	2.23%	2.08%	1.84%	1.48%	7.96%	1.85%	6.62%	1.19%	16.76%
ICOW Pacer Developed Markets International Cash Cows 100 ETF	2.12%	3.03%	4.39%	3.61%	5.26%	2.11%	2.46%	3.10%	2.61%	0.80%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AFTY and ICOW in my portfolio?

AFTY and ICOW have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AFTY or ICOW?

On fees, ICOW is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AFTY or ICOW?

ICOW is cheaper with a 0.65% expense ratio, compared with 0.70% for AFTY.

Which ETF pays a higher dividend yield, AFTY or ICOW?

ICOW has the higher dividend yield at 2.12%, compared with 0.00% for AFTY.

What is the main difference between AFTY and ICOW?

AFTY is categorized as China Equities, while ICOW is Foreign Large Cap Equities. AFTY tracks FTSE China A 50, while ICOW tracks Pacer Developed Markets International Cash Cows 100 Index. Their fees differ too: 0.70% for AFTY and 0.65% for ICOW.