CALF vs. USFR
CALF (Pacer US Small Cap Cash Cows 100 ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - CALF is a Small Cap Blend Equities fund tracking the Pacer US Small Cap Cash Cows Index, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 5 years, CALF returned 4.12%/yr vs 3.66%/yr for USFR. At a 0.01 correlation, their price movements are largely independent. CALF charges 0.59%/yr vs 0.15%/yr for USFR.
Performance
CALF vs. USFR - Performance Comparison
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Returns By Period
In the year-to-date period, CALF achieves a 13.34% return, which is significantly higher than USFR's 1.60% return.
CALF
- 1D
- -1.12%
- 1M
- 4.91%
- YTD
- 13.34%
- 6M
- 12.53%
- 1Y
- 30.24%
- 3Y*
- 10.69%
- 5Y*
- 4.12%
- 10Y*
- —
USFR
- 1D
- 0.02%
- 1M
- 0.29%
- YTD
- 1.60%
- 6M
- 1.98%
- 1Y
- 4.03%
- 3Y*
- 4.76%
- 5Y*
- 3.66%
- 10Y*
- 2.47%
CALF vs. USFR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CALF Pacer US Small Cap Cash Cows 100 ETF | 13.34% | 2.33% | -7.41% | 35.43% | -15.20% | 40.68% | 16.55% | 18.18% | -10.06% | 5.78% |
USFR WisdomTree Floating Rate Treasury Fund | 1.60% | 4.23% | 5.47% | 5.18% | 1.98% | -0.03% | 0.56% | 2.02% | 2.01% | 0.53% |
Correlation
The correlation between CALF and USFR is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Jun 20, 2017 | 0.01 |
The correlation between CALF and USFR shifts across timeframes, from -0.12 (1 year) to 0.01 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CALF vs. USFR — Risk / Return Rank
CALF
USFR
CALF vs. USFR - 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 WisdomTree Floating Rate Treasury Fund (USFR). 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.
| CALF | USFR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -13.18 | ||
| Sortino ratioReturn per unit of downside risk | -47.82 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 13.43 | -12.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.94 | 203.42 | -198.48 |
| Martin ratioReturn relative to average drawdown | 14.08 | 787.84 | -773.76 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CALF | USFR | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.93 | 15.11 | -13.18 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 9.26 | -9.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 3.07 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 1.60 | -1.23 |
Drawdowns
CALF vs. USFR - Drawdown Comparison
The maximum CALF drawdown since its inception was -47.58%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for CALF and USFR.
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Drawdown Indicators
| CALF | USFR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.58% | -1.36% | -46.22% |
Max Drawdown (1Y)Largest decline over 1 year | -6.15% | -0.02% | -6.13% |
Max Drawdown (3Y)Largest decline over 3 years | -34.22% | -0.06% | -34.16% |
Max Drawdown (5Y)Largest decline over 5 years | -34.22% | -0.18% | -34.04% |
Max Drawdown (10Y)Largest decline over 10 years | — | -0.80% | — |
Current DrawdownCurrent decline from peak | -1.95% | 0.00% | -1.95% |
Average DrawdownAverage peak-to-trough decline | -10.74% | -0.16% | -10.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.15% | 0.01% | +2.14% |
Volatility
CALF vs. USFR - Volatility Comparison
Pacer US Small Cap Cash Cows 100 ETF (CALF) has a higher volatility of 4.92% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.06%. This indicates that CALF's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CALF | USFR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.92% | 0.06% | +4.86% |
Volatility (6M)Calculated over the trailing 6-month period | 10.47% | 0.18% | +10.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.84% | 0.27% | +15.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.44% | 0.40% | +23.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.02% | 0.81% | +25.21% |
CALF vs. USFR - Expense Ratio Comparison
CALF has a 0.59% expense ratio, which is higher than USFR's 0.15% expense ratio.
Dividends
CALF vs. USFR - Dividend Comparison
CALF's dividend yield for the trailing twelve months is around 1.28%, less than USFR's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CALF Pacer US Small Cap Cash Cows 100 ETF | 1.28% | 1.43% | 1.07% | 1.18% | 0.85% | 2.63% | 0.82% | 0.99% | 1.39% | 0.70% | 0.00% |
USFR WisdomTree Floating Rate Treasury Fund | 3.91% | 4.15% | 5.17% | 5.12% | 1.78% | 0.01% | 0.40% | 2.08% | 1.67% | 1.03% | 0.29% |
Frequently Asked Questions
CALF and USFR have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CALF has higher volatility (4.92%) compared to USFR (0.06%). In terms of maximum drawdown, CALF dropped -47.58% vs USFR's -1.36%.
On 5-year performance, CALF leads with 4.12% vs 3.66% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, CALF has performed better with a 4.12% return vs 3.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
USFR is cheaper with a 0.15% expense ratio, compared with 0.59% for CALF.
USFR has the higher dividend yield at 3.91%, compared with 1.28% for CALF.
CALF is categorized as Small Cap Blend Equities, while USFR is Government Bonds. CALF tracks Pacer US Small Cap Cash Cows Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: Pacer and WisdomTree. Their fees differ too: 0.59% for CALF and 0.15% for USFR.
USFR currently has the higher Sharpe Ratio (15.11 vs 1.93), 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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