CALF vs. WCEO

Last updated Jun 23, 2026

CALF (Pacer US Small Cap Cash Cows 100 ETF) and WCEO (Hypatia Women CEO ETF) are both Small Cap Blend Equities funds. CALF is passively managed, while WCEO is actively managed. Over the past 3 years, CALF returned 9.33%/yr vs 15.15%/yr for WCEO. Their correlation of 0.88 suggests significant overlap in exposure. CALF charges 0.59%/yr vs 0.85%/yr for WCEO.

Performance

CALF vs. WCEO - 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 Hypatia Women CEO ETF (WCEO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CALF achieves a 10.59% return, which is significantly lower than WCEO's 12.92% return.

CALF

• 1D: -0.51%
• 1M: 0.44%
• YTD: 10.59%
• 6M: 8.95%
• 1Y: 25.83%
• 3Y*: 9.33%
• 5Y*: 3.73%
• 10Y*: —

WCEO

• 1D: -0.05%
• 1M: 3.19%
• YTD: 12.92%
• 6M: 11.06%
• 1Y: 30.87%
• 3Y*: 15.15%
• 5Y*: —
• 10Y*: —

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

CALF vs. WCEO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CALF Pacer US Small Cap Cash Cows 100 ETF	10.59%	2.33%	-7.41%	33.02%
WCEO Hypatia Women CEO ETF	12.92%	9.77%	8.28%	10.51%

Correlation

The correlation between CALF and WCEO 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	0.87
Correlation (All Time) Calculated using the full available price history since Jan 9, 2023	0.88

The correlation between CALF and WCEO has been stable across timeframes, ranging from 0.82 to 0.88 - a consistent structural relationship.

CALF vs. WCEO - Sectors Allocation Comparison

Sectors	CALF	WCEO
Technology	32.4%	18.3%
Consumer Cyclical	28.5%	14.5%
Healthcare	9.7%	10.6%
Energy	8.9%	6.8%
Communication Services	8.3%	4.5%
Industrials	5.4%	13.0%
Consumer Defensive	3.6%	3.0%
Basic Materials	1.6%	5.2%
Real Estate	1.5%	6.0%
Financial Services	0.2%	16.1%
Utilities	-	2.0%

Return for Risk

CALF vs. WCEO — Risk / Return Rank

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

CALF

CALF Risk / Return Rank: 58
CALF Sharpe Ratio Rank: 48
CALF Sortino Ratio Rank: 50
CALF Omega Ratio Rank: 46
CALF Calmar Ratio Rank: 82
CALF Martin Ratio Rank: 65

WCEO

WCEO Risk / Return Rank: 70
WCEO Sharpe Ratio Rank: 64
WCEO Sortino Ratio Rank: 68
WCEO Omega Ratio Rank: 58
WCEO Calmar Ratio Rank: 85
WCEO Martin Ratio Rank: 75

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. WCEO - 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 Hypatia Women CEO ETF (WCEO). 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	WCEO	Difference
Sharpe ratio: Return per unit of total volatility	1.62	2.04	-0.42
Sortino ratio: Return per unit of downside risk	2.37	3.00	-0.62
Omega ratio: Gain probability vs. loss probability	1.29	1.35	-0.06
Calmar ratio: Return relative to maximum drawdown	4.22	4.46	-0.24
Martin ratio: Return relative to average drawdown	11.59	13.87	-2.28

CALF vs. WCEO - Sharpe Ratio Comparison

The current CALF Sharpe Ratio is 1.62, which is comparable to the WCEO Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of CALF and WCEO, 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. WCEO - Drawdown Comparison

The maximum CALF drawdown since its inception was -47.58%, which is greater than WCEO's maximum drawdown of -25.88%. Use the drawdown chart below to compare losses from any high point for CALF and WCEO.

Drawdown Indicators

	CALF	WCEO	Difference
Max Drawdown Largest peak-to-trough decline	-47.58%	-25.88%	-21.70%
Max Drawdown (1Y) Largest decline over 1 year	-6.15%	-6.96%	+0.81%
Max Drawdown (3Y) Largest decline over 3 years	-34.22%	-25.88%	-8.34%
Max Drawdown (5Y) Largest decline over 5 years	-34.22%	—	—
Current Drawdown Current decline from peak	-4.33%	-0.56%	-3.77%
Average Drawdown Average peak-to-trough decline	-10.69%	-5.45%	-5.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.23%	2.23%	0.00%

Volatility

CALF vs. WCEO - Volatility Comparison

Pacer US Small Cap Cash Cows 100 ETF (CALF) has a higher volatility of 5.39% compared to Hypatia Women CEO ETF (WCEO) at 3.75%. This indicates that CALF's price experiences larger fluctuations and is considered to be riskier than WCEO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CALF	WCEO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.39%	3.75%	+1.64%
Volatility (6M) Calculated over the trailing 6-month period	10.92%	10.43%	+0.49%
Volatility (1Y) Calculated over the trailing 1-year period	16.05%	15.25%	+0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.39%	18.08%	+5.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.97%	18.08%	+7.89%

CALF vs. WCEO - Expense Ratio Comparison

CALF has a 0.59% expense ratio, which is lower than WCEO's 0.85% expense ratio.

Dividends

CALF vs. WCEO - Dividend Comparison

CALF's dividend yield for the trailing twelve months is around 1.24%, more than WCEO's 0.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CALF Pacer US Small Cap Cash Cows 100 ETF	1.24%	1.43%	1.07%	1.18%	0.85%	2.63%	0.82%	0.99%	1.39%	0.70%
WCEO Hypatia Women CEO ETF	0.57%	0.64%	0.88%	0.93%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CALF and WCEO in my portfolio?

CALF and WCEO 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 WCEO?

CALF has higher volatility (5.39%) compared to WCEO (3.75%). In terms of maximum drawdown, CALF dropped -47.58% vs WCEO's -25.88%.

Which ETF is better, CALF or WCEO?

On 3-year performance, WCEO leads with 15.15% vs 9.33% for CALF. On fees, CALF is cheaper at 0.59% per year. On volatility, WCEO has been the lower-risk option at 3.75%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CALF or WCEO?

Over the 3-year period, WCEO has performed better with a 15.15% return vs 9.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CALF or WCEO?

CALF is cheaper with a 0.59% expense ratio, compared with 0.85% for WCEO.

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

CALF has the higher dividend yield at 1.24%, compared with 0.57% for WCEO.

What is the main difference between CALF and WCEO?

They also come from different issuers: Pacer and Hypatia Capital. Their fees differ too: 0.59% for CALF and 0.85% for WCEO.

Which has better risk-adjusted returns?

WCEO currently has the higher Sharpe Ratio (2.04 vs 1.62), 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.