CALF vs. AVUV

Last updated Jun 20, 2026

CALF (Pacer US Small Cap Cash Cows 100 ETF) and AVUV (Avantis US Small Cap Value ETF) are both exchange-traded funds - CALF is a Small Cap Blend Equities fund tracking the Pacer US Small Cap Cash Cows Index, while AVUV is a Small Cap Value Equities fund actively managed by Avantis. CALF is passively managed, while AVUV is actively managed. Over the past 5 years, CALF returned 4.58%/yr vs 12.68%/yr for AVUV. Their correlation of 0.94 suggests significant overlap in exposure. CALF charges 0.59%/yr vs 0.25%/yr for AVUV.

Performance

CALF vs. AVUV - Performance Comparison

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

Returns By Period

In the year-to-date period, CALF achieves a 11.16% return, which is significantly lower than AVUV's 20.38% return.

CALF

• 1D: 0.87%
• 1M: 2.96%
• YTD: 11.16%
• 6M: 9.56%
• 1Y: 26.35%
• 3Y*: 8.93%
• 5Y*: 4.58%
• 10Y*: —

AVUV

• 1D: 1.01%
• 1M: 2.67%
• YTD: 20.38%
• 6M: 18.29%
• 1Y: 38.83%
• 3Y*: 18.84%
• 5Y*: 12.68%
• 10Y*: —

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

CALF vs. AVUV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
CALF Pacer US Small Cap Cash Cows 100 ETF	11.16%	2.33%	-7.41%	35.43%	-15.20%	40.68%	16.55%	8.80%
AVUV Avantis US Small Cap Value ETF	20.38%	7.44%	9.28%	22.82%	-4.91%	42.20%	6.43%	8.54%

Correlation

The correlation between CALF and AVUV is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 26, 2019	0.94

The correlation between CALF and AVUV shifts across timeframes, from 0.82 (1 year) to 0.94 (all time), reflecting how their relationship changes across market environments.

CALF vs. AVUV - Sectors Allocation Comparison

Sectors	CALF	AVUV
Technology	32.4%	7.4%
Consumer Cyclical	28.5%	18.7%
Healthcare	9.7%	4.8%
Energy	8.9%	15.8%
Communication Services	8.3%	3.1%
Industrials	5.4%	13.6%
Consumer Defensive	3.6%	4.7%
Basic Materials	1.6%	5.1%
Real Estate	1.5%	0.7%
Financial Services	0.2%	26.1%
Utilities	-	0.1%

Return for Risk

CALF vs. AVUV — Risk / Return Rank

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

CALF

CALF Risk / Return Rank: 60
CALF Sharpe Ratio Rank: 50
CALF Sortino Ratio Rank: 51
CALF Omega Ratio Rank: 48
CALF Calmar Ratio Rank: 84
CALF Martin Ratio Rank: 68

AVUV

AVUV Risk / Return Rank: 77
AVUV Sharpe Ratio Rank: 73
AVUV Sortino Ratio Rank: 76
AVUV Omega Ratio Rank: 67
AVUV Calmar Ratio Rank: 89
AVUV Martin Ratio Rank: 79

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.

CALF vs. AVUV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer US Small Cap Cash Cows 100 ETF (CALF) and Avantis US Small Cap Value ETF (AVUV). 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.

	CALF	AVUV	Difference
Sharpe ratio: Return per unit of total volatility	1.65	2.21	-0.56
Sortino ratio: Return per unit of downside risk	2.42	3.15	-0.74
Omega ratio: Gain probability vs. loss probability	1.29	1.38	-0.09
Calmar ratio: Return relative to maximum drawdown	4.30	4.91	-0.60
Martin ratio: Return relative to average drawdown	11.91	14.56	-2.65

CALF vs. AVUV - Sharpe Ratio Comparison

The current CALF Sharpe Ratio is 1.65, which is comparable to the AVUV Sharpe Ratio of 2.21. The chart below compares the historical Sharpe Ratios of CALF and AVUV, 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

CALF vs. AVUV - Drawdown Comparison

The maximum CALF drawdown since its inception was -47.58%, roughly equal to the maximum AVUV drawdown of -49.42%. Use the drawdown chart below to compare losses from any high point for CALF and AVUV.

Drawdown Indicators

	CALF	AVUV	Difference
Max Drawdown Largest peak-to-trough decline	-47.58%	-49.42%	+1.84%
Max Drawdown (1Y) Largest decline over 1 year	-6.15%	-7.95%	+1.80%
Max Drawdown (3Y) Largest decline over 3 years	-34.22%	-28.79%	-5.43%
Max Drawdown (5Y) Largest decline over 5 years	-34.22%	-28.79%	-5.43%
Current Drawdown Current decline from peak	-3.84%	-1.91%	-1.93%
Average Drawdown Average peak-to-trough decline	-10.70%	-7.90%	-2.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	2.67%	-0.45%

Volatility

CALF vs. AVUV - Volatility Comparison

Pacer US Small Cap Cash Cows 100 ETF (CALF) has a higher volatility of 5.53% compared to Avantis US Small Cap Value ETF (AVUV) at 4.58%. This indicates that CALF's price experiences larger fluctuations and is considered to be riskier than AVUV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CALF	AVUV	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.53%	4.58%	+0.95%
Volatility (6M) Calculated over the trailing 6-month period	10.91%	11.39%	-0.48%
Volatility (1Y) Calculated over the trailing 1-year period	16.01%	17.64%	-1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.41%	22.68%	+0.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.98%	28.23%	-2.25%

CALF vs. AVUV - Expense Ratio Comparison

CALF has a 0.59% expense ratio, which is higher than AVUV's 0.25% expense ratio.

Dividends

CALF vs. AVUV - Dividend Comparison

CALF's dividend yield for the trailing twelve months is around 1.23%, less than AVUV's 1.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
AVUV Avantis US Small Cap Value ETF	1.64%	1.58%	1.61%	1.65%	1.74%	1.28%	1.21%	0.38%	0.00%	0.00%
CALF Pacer US Small Cap Cash Cows 100 ETF	1.23%	1.43%	1.07%	1.18%	0.85%	2.63%	0.82%	0.99%	1.39%	0.70%

Frequently Asked Questions

Can I hold both CALF and AVUV in my portfolio?

CALF and AVUV have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CALF or AVUV?

CALF has higher volatility (5.53%) compared to AVUV (4.58%). In terms of maximum drawdown, CALF dropped -47.58% vs AVUV's -49.42%.

Which ETF is better, CALF or AVUV?

On 5-year performance, AVUV leads with 12.68% vs 4.58% for CALF. On fees, AVUV is cheaper at 0.25% per year. On volatility, AVUV has been the lower-risk option at 4.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CALF or AVUV?

Over the 5-year period, AVUV has performed better with a 12.68% return vs 4.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CALF or AVUV?

AVUV is cheaper with a 0.25% expense ratio, compared with 0.59% for CALF.

Which ETF pays a higher dividend yield, CALF or AVUV?

AVUV has the higher dividend yield at 1.64%, compared with 1.23% for CALF.

What is the main difference between CALF and AVUV?

CALF is categorized as Small Cap Blend Equities, while AVUV is Small Cap Value Equities. They also come from different issuers: Pacer and Avantis. Their fees differ too: 0.59% for CALF and 0.25% for AVUV.

Which has better risk-adjusted returns?

AVUV currently has the higher Sharpe Ratio (2.21 vs 1.65), 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.