BCSIX vs. CALF

Last updated Jun 23, 2026

BCSIX (Brown Capital Management Small Company Fund) and CALF (Pacer US Small Cap Cash Cows 100 ETF) are both funds - BCSIX is a Small Cap Growth Equities fund managed by BlackRock, while CALF is a Small Cap Blend Equities fund tracking the Pacer US Small Cap Cash Cows Index. Over the past 5 years, BCSIX returned -7.69%/yr vs 3.73%/yr for CALF. A 0.63 correlation means they provide meaningful diversification when combined. BCSIX charges 1.25%/yr vs 0.59%/yr for CALF.

Performance

BCSIX vs. CALF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Brown Capital Management Small Company Fund (BCSIX) and Pacer US Small Cap Cash Cows 100 ETF (CALF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BCSIX achieves a -5.70% return, which is significantly lower than CALF's 10.59% return.

BCSIX

• 1D: 1.38%
• 1M: 2.91%
• YTD: -5.70%
• 6M: -8.97%
• 1Y: -6.44%
• 3Y*: -2.50%
• 5Y*: -7.69%
• 10Y*: 5.22%

CALF

• 1D: -0.51%
• 1M: 0.44%
• YTD: 10.59%
• 6M: 8.95%
• 1Y: 25.83%
• 3Y*: 9.33%
• 5Y*: 3.73%
• 10Y*: —

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

BCSIX vs. CALF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BCSIX Brown Capital Management Small Company Fund	-5.70%	-12.48%	9.86%	19.16%	-37.85%	-4.26%	45.23%	29.22%	-0.57%	10.01%
CALF Pacer US Small Cap Cash Cows 100 ETF	10.59%	2.33%	-7.41%	35.43%	-15.20%	40.68%	16.55%	18.18%	-10.06%	5.78%

Correlation

The correlation between BCSIX and CALF is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.70
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Jun 19, 2017	0.63

The correlation between BCSIX and CALF has been stable across timeframes, ranging from 0.63 to 0.70 - a consistent structural relationship.

Return for Risk

BCSIX vs. CALF — Risk / Return Rank

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

BCSIX

BCSIX Risk / Return Rank: 2
BCSIX Sharpe Ratio Rank: 1
BCSIX Sortino Ratio Rank: 2
BCSIX Omega Ratio Rank: 2
BCSIX Calmar Ratio Rank: 2
BCSIX Martin Ratio Rank: 1

CALF

CALF Risk / Return Rank: 58
CALF Sharpe Ratio Rank: 48
CALF Sortino Ratio Rank: 50
CALF Omega Ratio Rank: 46
CALF Calmar Ratio Rank: 82
CALF Martin Ratio Rank: 65

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.

BCSIX vs. CALF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Brown Capital Management Small Company Fund (BCSIX) and Pacer US Small Cap Cash Cows 100 ETF (CALF). 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.

	BCSIX	CALF	Difference
Sharpe ratio: Return per unit of total volatility	-0.33	1.62	-1.95
Sortino ratio: Return per unit of downside risk	-0.33	2.37	-2.70
Omega ratio: Gain probability vs. loss probability	0.96	1.29	-0.32
Calmar ratio: Return relative to maximum drawdown	-0.28	4.22	-4.50
Martin ratio: Return relative to average drawdown	-0.63	11.59	-12.22

BCSIX vs. CALF - Sharpe Ratio Comparison

The current BCSIX Sharpe Ratio is -0.33, which is lower than the CALF Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of BCSIX and CALF, 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

BCSIX vs. CALF - Drawdown Comparison

The maximum BCSIX drawdown since its inception was -57.17%, which is greater than CALF's maximum drawdown of -47.58%. Use the drawdown chart below to compare losses from any high point for BCSIX and CALF.

Drawdown Indicators

	BCSIX	CALF	Difference
Max Drawdown Largest peak-to-trough decline	-57.17%	-47.58%	-9.59%
Max Drawdown (1Y) Largest decline over 1 year	-26.97%	-6.15%	-20.82%
Max Drawdown (3Y) Largest decline over 3 years	-57.17%	-34.22%	-22.95%
Max Drawdown (5Y) Largest decline over 5 years	-57.17%	-34.22%	-22.95%
Max Drawdown (10Y) Largest decline over 10 years	-57.17%	—	—
Current Drawdown Current decline from peak	-47.92%	-4.33%	-43.59%
Average Drawdown Average peak-to-trough decline	-13.60%	-10.69%	-2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.73%	2.23%	+9.50%

Volatility

BCSIX vs. CALF - Volatility Comparison

Brown Capital Management Small Company Fund (BCSIX) has a higher volatility of 6.15% compared to Pacer US Small Cap Cash Cows 100 ETF (CALF) at 5.39%. This indicates that BCSIX's price experiences larger fluctuations and is considered to be riskier than CALF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BCSIX	CALF	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.15%	5.39%	+0.76%
Volatility (6M) Calculated over the trailing 6-month period	17.68%	10.92%	+6.76%
Volatility (1Y) Calculated over the trailing 1-year period	22.52%	16.05%	+6.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.12%	23.39%	+15.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.38%	25.97%	+6.41%

BCSIX vs. CALF - Expense Ratio Comparison

BCSIX has a 1.25% expense ratio, which is higher than CALF's 0.59% expense ratio.

Dividends

BCSIX vs. CALF - Dividend Comparison

BCSIX's dividend yield for the trailing twelve months is around 115.09%, more than CALF's 1.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BCSIX Brown Capital Management Small Company Fund	115.09%	108.53%	52.70%	9.36%	12.04%	9.32%	7.46%	8.62%	6.85%	5.94%	5.54%	9.15%
CALF Pacer US Small Cap Cash Cows 100 ETF	1.24%	1.43%	1.07%	1.18%	0.85%	2.63%	0.82%	0.99%	1.39%	0.70%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BCSIX and CALF in my portfolio?

BCSIX and CALF have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BCSIX or CALF?

BCSIX has higher volatility (6.15%) compared to CALF (5.39%). In terms of maximum drawdown, BCSIX dropped -57.17% vs CALF's -47.58%.

Which has better risk-adjusted returns?

CALF currently has the higher Sharpe Ratio (1.62 vs -0.33), 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.