CALF vs. IYW
CALF (Pacer US Small Cap Cash Cows 100 ETF) and IYW (iShares U.S. Technology ETF) are both exchange-traded funds - CALF is a Small Cap Blend Equities fund tracking the Pacer US Small Cap Cash Cows Index, while IYW is a Technology Equities fund tracking the Russell 1000 Technology RIC 22.5/45 Capped Index. Both are passively managed. Over the past 5 years, CALF returned 3.80%/yr vs 21.19%/yr for IYW. A 0.52 correlation means they provide meaningful diversification when combined. CALF charges 0.59%/yr vs 0.38%/yr for IYW.
Performance
CALF vs. IYW - Performance Comparison
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Returns By Period
In the year-to-date period, CALF achieves a 14.10% return, which is significantly lower than IYW's 22.66% return.
CALF
- 1D
- 0.46%
- 1M
- 7.83%
- YTD
- 14.10%
- 6M
- 11.90%
- 1Y
- 30.59%
- 3Y*
- 9.56%
- 5Y*
- 3.80%
- 10Y*
- —
IYW
- 1D
- 0.61%
- 1M
- 0.73%
- YTD
- 22.66%
- 6M
- 23.40%
- 1Y
- 50.17%
- 3Y*
- 32.06%
- 5Y*
- 21.19%
- 10Y*
- 25.63%
CALF vs. IYW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CALF Pacer US Small Cap Cash Cows 100 ETF | 14.10% | 2.33% | -7.41% | 35.43% | -15.20% | 40.68% | 16.55% | 18.18% | -10.06% | 5.78% |
IYW iShares U.S. Technology ETF | 22.66% | 25.38% | 30.25% | 65.44% | -34.83% | 35.44% | 47.45% | 46.64% | -0.93% | 16.32% |
Correlation
The correlation between CALF and IYW is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.41 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.46 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2017 | 0.52 |
The correlation between CALF and IYW shifts across timeframes, from 0.41 (1 year) to 0.57 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
CALF vs. IYW — Risk / Return Rank
CALF
IYW
CALF vs. IYW - 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 iShares U.S. Technology ETF (IYW). 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 | IYW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.40 | ||
| Sortino ratioReturn per unit of downside risk | -0.13 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.38 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 4.77 | 2.70 | +2.06 |
| Martin ratioReturn relative to average drawdown | 13.43 | 8.68 | +4.75 |
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Drawdowns
CALF vs. IYW - Drawdown Comparison
The maximum CALF drawdown since its inception was -47.58%, smaller than the maximum IYW drawdown of -81.90%. Use the drawdown chart below to compare losses from any high point for CALF and IYW.
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Drawdown Indicators
| CALF | IYW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.58% | -81.90% | +34.32% |
Max Drawdown (1Y)Largest decline over 1 year | -6.15% | -17.81% | +11.66% |
Max Drawdown (3Y)Largest decline over 3 years | -34.22% | -26.47% | -7.75% |
Max Drawdown (5Y)Largest decline over 5 years | -34.22% | -39.44% | +5.22% |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.44% | — |
Current DrawdownCurrent decline from peak | -1.29% | -5.81% | +4.52% |
Average DrawdownAverage peak-to-trough decline | -10.71% | -34.62% | +23.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 5.54% | -3.36% |
Volatility
CALF vs. IYW - Volatility Comparison
The current volatility for Pacer US Small Cap Cash Cows 100 ETF (CALF) is 4.93%, while iShares U.S. Technology ETF (IYW) has a volatility of 9.41%. This indicates that CALF experiences smaller price fluctuations and is considered to be less risky than IYW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CALF | IYW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.93% | 9.41% | -4.48% |
Volatility (6M)Calculated over the trailing 6-month period | 10.67% | 17.67% | -7.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.90% | 21.47% | -5.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.43% | 26.07% | -2.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.99% | 25.20% | +0.79% |
CALF vs. IYW - Expense Ratio Comparison
CALF has a 0.59% expense ratio, which is higher than IYW's 0.38% expense ratio.
Dividends
CALF vs. IYW - Dividend Comparison
CALF's dividend yield for the trailing twelve months is around 1.20%, more than IYW's 0.11% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CALF Pacer US Small Cap Cash Cows 100 ETF | 1.20% | 1.43% | 1.07% | 1.18% | 0.85% | 2.63% | 0.82% | 0.99% | 1.39% | 0.70% | 0.00% | 0.00% |
IYW iShares U.S. Technology ETF | 0.11% | 0.14% | 0.21% | 0.34% | 0.50% | 0.31% | 0.56% | 0.72% | 0.92% | 0.82% | 1.14% | 1.12% |
Frequently Asked Questions
CALF and IYW have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IYW has higher volatility (9.41%) compared to CALF (4.93%). In terms of maximum drawdown, CALF dropped -47.58% vs IYW's -81.90%.
On 5-year performance, IYW leads with 21.19% vs 3.80% for CALF. On fees, IYW is cheaper at 0.38% per year. On volatility, CALF has been the lower-risk option at 4.93%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, IYW has performed better with a 21.19% return vs 3.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IYW is cheaper with a 0.38% expense ratio, compared with 0.59% for CALF.
CALF has the higher dividend yield at 1.20%, compared with 0.11% for IYW.
CALF is categorized as Small Cap Blend Equities, while IYW is Technology Equities. CALF tracks Pacer US Small Cap Cash Cows Index, while IYW tracks Russell 1000 Technology RIC 22.5/45 Capped Index. They also come from different issuers: Pacer and iShares. Their fees differ too: 0.59% for CALF and 0.38% for IYW.
IYW currently has the higher Sharpe Ratio (2.24 vs 1.84), 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.
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