CAFG vs. IWO

Last updated Apr 2, 2026

Compare and contrast key facts about Pacer US Small Cap Cash Cows Growth Leaders ETF (CAFG) and iShares Russell 2000 Growth ETF (IWO).

CAFG and IWO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CAFG is a passively managed fund by Pacer that tracks the performance of the Pacer US Small Cap Cash Cows Growth Leaders Index - Benchmark TR Gross. It was launched on May 1, 2023. IWO is a passively managed fund by iShares that tracks the performance of the Russell 2000 Growth Index. It was launched on Jul 24, 2000. Both CAFG and IWO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

CAFG vs. IWO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer US Small Cap Cash Cows Growth Leaders ETF (CAFG) and iShares Russell 2000 Growth ETF (IWO). The values are adjusted to include any dividend payments, if applicable.

CAFG vs. IWO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CAFG Pacer US Small Cap Cash Cows Growth Leaders ETF	8.16%	0.17%	6.95%	20.44%
IWO iShares Russell 2000 Growth ETF	-2.09%	12.90%	15.04%	14.82%

Returns By Period

In the year-to-date period, CAFG achieves a 8.16% return, which is significantly higher than IWO's -2.09% return.

CAFG

• 1D: 0.80%
• 1M: -2.95%
• YTD: 8.16%
• 6M: 5.92%
• 1Y: 14.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IWO

• 1D: 0.75%
• 1M: -6.57%
• YTD: -2.09%
• 6M: -0.97%
• 1Y: 24.27%
• 3Y*: 12.46%
• 5Y*: 1.37%
• 10Y*: 9.75%

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

CAFG vs. IWO - Expense Ratio Comparison

CAFG has a 0.59% expense ratio, which is higher than IWO's 0.24% expense ratio.

CAFG

Pacer US Small Cap Cash Cows Growth Leaders ETF

IWO

iShares Russell 2000 Growth ETF

Return for Risk

CAFG vs. IWO — Risk / Return Rank

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

CAFG

CAFG Risk / Return Rank: 36
CAFG Sharpe Ratio Rank: 34
CAFG Sortino Ratio Rank: 36
CAFG Omega Ratio Rank: 33
CAFG Calmar Ratio Rank: 38
CAFG Martin Ratio Rank: 40

IWO

IWO Risk / Return Rank: 54
IWO Sharpe Ratio Rank: 52
IWO Sortino Ratio Rank: 55
IWO Omega Ratio Rank: 46
IWO Calmar Ratio Rank: 62
IWO Martin Ratio Rank: 54

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.

CAFG vs. IWO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer US Small Cap Cash Cows Growth Leaders ETF (CAFG) and iShares Russell 2000 Growth ETF (IWO). 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.

	CAFG	IWO	Difference
Sharpe ratio Return per unit of total volatility	0.69	0.97	-0.28
Sortino ratio Return per unit of downside risk	1.11	1.49	-0.37
Omega ratio Gain probability vs. loss probability	1.14	1.19	-0.04
Calmar ratio Return relative to maximum drawdown	1.07	1.64	-0.57
Martin ratio Return relative to average drawdown	4.10	5.48	-1.38
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CAFG vs. IWO - Sharpe Ratio Comparison

The current CAFG Sharpe Ratio is 0.69, which is comparable to the IWO Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of CAFG and IWO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CAFG	IWO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.69	0.97	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.06	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.26	+0.36

Correlation

The correlation between CAFG and IWO is 0.88, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

CAFG vs. IWO - Dividend Comparison

CAFG's dividend yield for the trailing twelve months is around 0.32%, less than IWO's 0.48% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CAFG Pacer US Small Cap Cash Cows Growth Leaders ETF	0.32%	0.35%	0.36%	0.39%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IWO iShares Russell 2000 Growth ETF	0.48%	0.56%	0.80%	0.73%	0.73%	0.32%	0.44%	0.71%	0.76%	0.73%	0.97%	0.89%

Drawdowns

CAFG vs. IWO - Drawdown Comparison

The maximum CAFG drawdown since its inception was -23.66%, smaller than the maximum IWO drawdown of -60.11%. Use the drawdown chart below to compare losses from any high point for CAFG and IWO.

Drawdown Indicators

	CAFG	IWO	Difference
Max Drawdown Largest peak-to-trough decline	-23.66%	-60.11%	+36.45%
Max Drawdown (1Y) Largest decline over 1 year	-13.08%	-14.87%	+1.79%
Max Drawdown (5Y) Largest decline over 5 years	—	-40.51%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-42.02%	—
Current Drawdown Current decline from peak	-2.97%	-10.59%	+7.62%
Average Drawdown Average peak-to-trough decline	-5.81%	-16.80%	+10.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.40%	4.44%	-1.04%

Volatility

CAFG vs. IWO - Volatility Comparison

The current volatility for Pacer US Small Cap Cash Cows Growth Leaders ETF (CAFG) is 7.37%, while iShares Russell 2000 Growth ETF (IWO) has a volatility of 8.60%. This indicates that CAFG experiences smaller price fluctuations and is considered to be less risky than IWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CAFG	IWO	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.37%	8.60%	-1.23%
Volatility (6M) Calculated over the trailing 6-month period	13.26%	16.54%	-3.28%
Volatility (1Y) Calculated over the trailing 1-year period	21.20%	25.23%	-4.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.75%	24.46%	-4.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.75%	24.06%	-4.31%