AGEM vs. ECOW

Last updated Jun 23, 2026

AGEM (abrdn Emerging Markets Dividend Active ETF) and ECOW (Pacer Emerging Markets Cash Cows 100 ETF) are both Emerging Markets Equities funds. AGEM is actively managed, while ECOW is passively managed. Over the past year, AGEM returned 64.77% vs 32.75% for ECOW. A 0.76 correlation means they provide meaningful diversification when combined. Both charge a 0.70% expense ratio.

Performance

AGEM vs. ECOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in abrdn Emerging Markets Dividend Active ETF (AGEM) and Pacer Emerging Markets Cash Cows 100 ETF (ECOW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AGEM achieves a 34.43% return, which is significantly higher than ECOW's 9.99% return.

AGEM

• 1D: 0.62%
• 1M: 8.57%
• YTD: 34.43%
• 6M: 35.79%
• 1Y: 64.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ECOW

• 1D: -0.93%
• 1M: -2.16%
• YTD: 9.99%
• 6M: 10.32%
• 1Y: 32.75%
• 3Y*: 18.27%
• 5Y*: 6.16%
• 10Y*: —

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

AGEM vs. ECOW - Yearly Performance Comparison

	2026 (YTD)	2025
AGEM abrdn Emerging Markets Dividend Active ETF	34.43%	29.73%
ECOW Pacer Emerging Markets Cash Cows 100 ETF	9.99%	24.52%

Correlation

The correlation between AGEM and ECOW is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.77
Correlation (All Time) Calculated using the full available price history since Feb 18, 2025	0.76

The correlation between AGEM and ECOW has been stable across timeframes, ranging from 0.76 to 0.77 - a consistent structural relationship.

Return for Risk

AGEM vs. ECOW — Risk / Return Rank

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

AGEM

AGEM Risk / Return Rank: 87
AGEM Sharpe Ratio Rank: 91
AGEM Sortino Ratio Rank: 86
AGEM Omega Ratio Rank: 89
AGEM Calmar Ratio Rank: 86
AGEM Martin Ratio Rank: 86

ECOW

ECOW Risk / Return Rank: 72
ECOW Sharpe Ratio Rank: 72
ECOW Sortino Ratio Rank: 68
ECOW Omega Ratio Rank: 72
ECOW Calmar Ratio Rank: 79
ECOW Martin Ratio Rank: 70

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.

AGEM vs. ECOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for abrdn Emerging Markets Dividend Active ETF (AGEM) and Pacer Emerging Markets Cash Cows 100 ETF (ECOW). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AGEM	ECOW	Difference
Sharpe ratio: Return per unit of total volatility	2.97	2.23	+0.73
Sortino ratio: Return per unit of downside risk	3.68	2.99	+0.69
Omega ratio: Gain probability vs. loss probability	1.53	1.41	+0.13
Calmar ratio: Return relative to maximum drawdown	4.68	3.94	+0.74
Martin ratio: Return relative to average drawdown	17.46	12.54	+4.92

AGEM vs. ECOW - Sharpe Ratio Comparison

The current AGEM Sharpe Ratio is 2.97, which is higher than the ECOW Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of AGEM and ECOW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AGEM vs. ECOW - Drawdown Comparison

The maximum AGEM drawdown since its inception was -15.58%, smaller than the maximum ECOW drawdown of -40.27%. Use the drawdown chart below to compare losses from any high point for AGEM and ECOW.

Drawdown Indicators

	AGEM	ECOW	Difference
Max Drawdown Largest peak-to-trough decline	-15.58%	-40.27%	+24.69%
Max Drawdown (1Y) Largest decline over 1 year	-13.92%	-8.35%	-5.57%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.30%	—
Current Drawdown Current decline from peak	0.00%	-6.18%	+6.18%
Average Drawdown Average peak-to-trough decline	-2.29%	-11.03%	+8.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.72%	2.62%	+1.10%

Volatility

AGEM vs. ECOW - Volatility Comparison

abrdn Emerging Markets Dividend Active ETF (AGEM) has a higher volatility of 10.54% compared to Pacer Emerging Markets Cash Cows 100 ETF (ECOW) at 5.37%. This indicates that AGEM's price experiences larger fluctuations and is considered to be riskier than ECOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AGEM	ECOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.54%	5.37%	+5.17%
Volatility (6M) Calculated over the trailing 6-month period	19.79%	11.74%	+8.05%
Volatility (1Y) Calculated over the trailing 1-year period	21.99%	14.77%	+7.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.53%	17.74%	+4.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.53%	20.14%	+2.39%

AGEM vs. ECOW - Expense Ratio Comparison

Both AGEM and ECOW have an expense ratio of 0.70%.

Dividends

AGEM vs. ECOW - Dividend Comparison

AGEM's dividend yield for the trailing twelve months is around 1.67%, less than ECOW's 4.56% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
AGEM abrdn Emerging Markets Dividend Active ETF	1.67%	1.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ECOW Pacer Emerging Markets Cash Cows 100 ETF	4.56%	5.20%	7.35%	5.46%	7.50%	4.39%	3.35%	8.08%

Frequently Asked Questions

Can I hold both AGEM and ECOW in my portfolio?

AGEM and ECOW have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AGEM or ECOW?

AGEM has higher volatility (10.54%) compared to ECOW (5.37%). In terms of maximum drawdown, AGEM dropped -15.58% vs ECOW's -40.27%.

Which ETF is better, AGEM or ECOW?

On 1-year performance, AGEM leads with 64.77% vs 32.75% for ECOW. Both ETFs have the same 0.70% expense ratio. On volatility, ECOW has been the lower-risk option at 5.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AGEM or ECOW?

Over the 1-year period, AGEM has performed better with a 64.77% return vs 32.75%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AGEM or ECOW?

AGEM and ECOW have the same expense ratio: 0.70% per year.

Which ETF pays a higher dividend yield, AGEM or ECOW?

ECOW has the higher dividend yield at 4.56%, compared with 1.67% for AGEM.

What is the main difference between AGEM and ECOW?

They also come from different issuers: abrdn and Pacer.

Which has better risk-adjusted returns?

AGEM currently has the higher Sharpe Ratio (2.97 vs 2.23), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.