CALF vs. EPSV

Last updated Jul 14, 2026

CALF (Pacer US Small Cap Cash Cows ETF) and EPSV (Harbor SMID Cap Value ETF) are both Small Cap Value Equities funds. CALF is passively managed, while EPSV is actively managed. Over the past year, CALF returned 28.04% vs 35.95% for EPSV. A 0.69 correlation means they provide meaningful diversification when combined. CALF charges 0.59%/yr vs 0.88%/yr for EPSV.

Performance

CALF vs. EPSV - Performance Comparison

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

Returns By Period

In the year-to-date period, CALF achieves a 17.73% return, which is significantly lower than EPSV's 26.44% return.

CALF

• 1D: 0.69%
• 1M: 3.18%
• 6M: 14.07%
• YTD: 17.73%
• 1Y: 28.04%
• 3Y*: 9.15%
• 5Y*: 5.43%
• 10Y*: —

EPSV

• 1D: -1.08%
• 1M: -1.29%
• 6M: 20.05%
• YTD: 26.44%
• 1Y: 35.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CALF vs. EPSV - Yearly Performance Comparison

	2026 (YTD)	2025
CALF Pacer US Small Cap Cash Cows ETF	17.73%	25.08%
EPSV Harbor SMID Cap Value ETF	26.44%	22.17%

Correlation

The correlation between CALF and EPSV is 0.64, 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	0.64
Correlation (All Time) Calculated using the full available price history since May 2, 2025	0.69

The correlation between CALF and EPSV has been stable across timeframes, ranging from 0.64 to 0.69 - a consistent structural relationship.

CALF vs. EPSV - Sectors Allocation Comparison

Sectors	CALF	EPSV
Technology	32.4%	22.2%
Consumer Cyclical	28.5%	6.8%
Healthcare	9.7%	2.4%
Energy	8.9%	4.8%
Communication Services	8.3%	-
Industrials	5.4%	26.0%
Consumer Defensive	3.6%	3.8%
Basic Materials	1.6%	5.3%
Real Estate	1.5%	8.1%
Financial Services	0.2%	17.5%
Utilities	-	3.3%

Return for Risk

CALF vs. EPSV — Risk / Return Rank

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

CALF

CALF Risk / Return Rank: 76
CALF Sharpe Ratio Rank: 69
CALF Sortino Ratio Rank: 71
CALF Omega Ratio Rank: 66
CALF Calmar Ratio Rank: 91
CALF Martin Ratio Rank: 82

EPSV

EPSV Risk / Return Rank: 82
EPSV Sharpe Ratio Rank: 79
EPSV Sortino Ratio Rank: 81
EPSV Omega Ratio Rank: 74
EPSV Calmar Ratio Rank: 88
EPSV Martin Ratio Rank: 85

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. EPSV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer US Small Cap Cash Cows ETF (CALF) and Harbor SMID Cap Value ETF (EPSV). 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	EPSV	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.99	-0.22
Sortino ratio: Return per unit of downside risk	2.58	2.87	-0.30
Omega ratio: Gain probability vs. loss probability	1.31	1.35	-0.03
Calmar ratio: Return relative to maximum drawdown	4.58	4.04	+0.54
Martin ratio: Return relative to average drawdown	12.58	13.82	-1.24

CALF vs. EPSV - Sharpe Ratio Comparison

The current CALF Sharpe Ratio is 1.77, which is comparable to the EPSV Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of CALF and EPSV, 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. EPSV - Drawdown Comparison

The maximum CALF drawdown since its inception was -47.58%, which is greater than EPSV's maximum drawdown of -8.93%. Use the drawdown chart below to compare losses from any high point for CALF and EPSV.

Drawdown Indicators

	CALF	EPSV	Difference
Max Drawdown Largest peak-to-trough decline	-47.58%	-8.93%	-38.65%
Max Drawdown (1Y) Largest decline over 1 year	-6.15%	-8.93%	+2.78%
Max Drawdown (3Y) Largest decline over 3 years	-34.22%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-34.22%	—	—
Current Drawdown Current decline from peak	0.00%	-3.80%	+3.80%
Average Drawdown Average peak-to-trough decline	-10.63%	-1.64%	-8.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.24%	2.61%	-0.37%

Volatility

CALF vs. EPSV - Volatility Comparison

The current volatility for Pacer US Small Cap Cash Cows ETF (CALF) is 4.71%, while Harbor SMID Cap Value ETF (EPSV) has a volatility of 5.35%. This indicates that CALF experiences smaller price fluctuations and is considered to be less risky than EPSV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CALF	EPSV	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.71%	5.35%	-0.64%
Volatility (6M) Calculated over the trailing 6-month period	11.17%	13.34%	-2.17%
Volatility (1Y) Calculated over the trailing 1-year period	15.94%	18.18%	-2.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.29%	18.18%	+5.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.92%	18.18%	+7.74%

CALF vs. EPSV - Expense Ratio Comparison

CALF has a 0.59% expense ratio, which is lower than EPSV's 0.88% expense ratio.

Dividends

CALF vs. EPSV - Dividend Comparison

CALF's dividend yield for the trailing twelve months is around 1.17%, less than EPSV's 2.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CALF Pacer US Small Cap Cash Cows ETF	1.17%	1.43%	1.07%	1.18%	0.85%	2.63%	0.82%	0.99%	1.39%	0.70%
EPSV Harbor SMID Cap Value ETF	2.28%	2.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CALF and EPSV in my portfolio?

CALF and EPSV have a correlation of 0.64, 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 EPSV?

EPSV has higher volatility (5.35%) compared to CALF (4.71%). In terms of maximum drawdown, CALF dropped -47.58% vs EPSV's -8.93%.

Which ETF is better, CALF or EPSV?

On 1-year performance, EPSV leads with 35.95% vs 28.04% for CALF. On fees, CALF is cheaper at 0.59% per year. On volatility, CALF has been the lower-risk option at 4.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CALF or EPSV?

Over the 1-year period, EPSV has performed better with a 35.95% return vs 28.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CALF or EPSV?

CALF is cheaper with a 0.59% expense ratio, compared with 0.88% for EPSV.

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

EPSV has the higher dividend yield at 2.28%, compared with 1.17% for CALF.

What is the main difference between CALF and EPSV?

They also come from different issuers: Pacer and Harbor. Their fees differ too: 0.59% for CALF and 0.88% for EPSV.

Which has better risk-adjusted returns?

EPSV currently has the higher Sharpe Ratio (1.99 vs 1.77), 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.