DEM vs. ECOW

Last updated Jul 14, 2026

DEM (WisdomTree Emerging Markets Equity Income Fund) and ECOW (Pacer Emerging Markets Cash Cows 100 ETF) are both Emerging Markets Equities funds - DEM tracks the WisdomTree Emerging Markets Equity Income Index while ECOW tracks the Pacer Emerging Markets Cash Cows 100 Index. Both are passively managed. Over the past 5 years, DEM returned 9.77%/yr vs 6.59%/yr for ECOW. A 0.75 correlation means they provide meaningful diversification when combined. DEM charges 0.63%/yr vs 0.70%/yr for ECOW.

Performance

DEM vs. ECOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Emerging Markets Equity Income Fund (DEM) and Pacer Emerging Markets Cash Cows 100 ETF (ECOW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DEM achieves a 16.70% return, which is significantly higher than ECOW's 10.62% return.

DEM

• 1D: -1.82%
• 1M: -2.61%
• 6M: 13.85%
• YTD: 16.70%
• 1Y: 22.03%
• 3Y*: 16.63%
• 5Y*: 9.77%
• 10Y*: 9.22%

ECOW

• 1D: -0.96%
• 1M: -0.58%
• 6M: 6.85%
• YTD: 10.62%
• 1Y: 28.24%
• 3Y*: 16.35%
• 5Y*: 6.59%
• 10Y*: —

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

DEM vs. ECOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
DEM WisdomTree Emerging Markets Equity Income Fund	16.70%	21.29%	4.46%	20.93%	-10.43%	11.49%	-5.84%	7.46%
ECOW Pacer Emerging Markets Cash Cows 100 ETF	10.62%	32.50%	3.17%	15.79%	-19.28%	7.47%	-2.51%	10.37%

Correlation

The correlation between DEM and ECOW is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since May 6, 2019	0.75

The correlation between DEM and ECOW has been stable across timeframes, ranging from 0.75 to 0.84 - a consistent structural relationship.

DEM vs. ECOW - Sectors Allocation Comparison

Sectors	DEM	ECOW
Financial Services	21.9%	-
Technology	17.3%	6.8%
Industrials	9.7%	9.3%
Energy	6.1%	8.6%
Consumer Defensive	5.8%	13.1%
Consumer Cyclical	5.1%	14.7%
Basic Materials	3.5%	11.1%
Utilities	3.0%	7.2%
Communication Services	3.0%	12.8%
Real Estate	2.9%	-
Healthcare	0.6%	3.6%

Return for Risk

DEM vs. ECOW — Risk / Return Rank

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

DEM

DEM Risk / Return Rank: 60
DEM Sharpe Ratio Rank: 56
DEM Sortino Ratio Rank: 54
DEM Omega Ratio Rank: 55
DEM Calmar Ratio Rank: 70
DEM Martin Ratio Rank: 64

ECOW

ECOW Risk / Return Rank: 74
ECOW Sharpe Ratio Rank: 76
ECOW Sortino Ratio Rank: 73
ECOW Omega Ratio Rank: 74
ECOW Calmar Ratio Rank: 81
ECOW Martin Ratio Rank: 65

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.

DEM vs. ECOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Emerging Markets Equity Income Fund (DEM) and Pacer Emerging Markets Cash Cows 100 ETF (ECOW). 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.

	DEM	ECOW	Difference
Sharpe ratio: Return per unit of total volatility	1.51	1.91	-0.41
Sortino ratio: Return per unit of downside risk	2.10	2.62	-0.52
Omega ratio: Gain probability vs. loss probability	1.27	1.34	-0.07
Calmar ratio: Return relative to maximum drawdown	2.80	3.40	-0.59
Martin ratio: Return relative to average drawdown	9.03	9.37	-0.34

DEM vs. ECOW - Sharpe Ratio Comparison

The current DEM Sharpe Ratio is 1.51, which is comparable to the ECOW Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of DEM and ECOW, 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

DEM vs. ECOW - Drawdown Comparison

The maximum DEM drawdown since its inception was -51.85%, which is greater than ECOW's maximum drawdown of -40.27%. Use the drawdown chart below to compare losses from any high point for DEM and ECOW.

Drawdown Indicators

	DEM	ECOW	Difference
Max Drawdown Largest peak-to-trough decline	-51.85%	-40.27%	-11.58%
Max Drawdown (1Y) Largest decline over 1 year	-7.89%	-8.35%	+0.46%
Max Drawdown (3Y) Largest decline over 3 years	-15.64%	-18.77%	+3.13%
Max Drawdown (5Y) Largest decline over 5 years	-27.18%	-33.30%	+6.12%
Max Drawdown (10Y) Largest decline over 10 years	-37.79%	—	—
Current Drawdown Current decline from peak	-3.87%	-5.64%	+1.77%
Average Drawdown Average peak-to-trough decline	-12.84%	-10.99%	-1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	3.02%	-0.57%

Volatility

DEM vs. ECOW - Volatility Comparison

WisdomTree Emerging Markets Equity Income Fund (DEM) has a higher volatility of 5.76% compared to Pacer Emerging Markets Cash Cows 100 ETF (ECOW) at 5.00%. This indicates that DEM's price experiences larger fluctuations and is considered to be riskier than ECOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DEM	ECOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.76%	5.00%	+0.76%
Volatility (6M) Calculated over the trailing 6-month period	13.00%	12.05%	+0.95%
Volatility (1Y) Calculated over the trailing 1-year period	14.73%	14.85%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.57%	17.78%	-2.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.84%	20.10%	-2.26%

DEM vs. ECOW - Expense Ratio Comparison

DEM has a 0.63% expense ratio, which is lower than ECOW's 0.70% expense ratio.

Dividends

DEM vs. ECOW - Dividend Comparison

DEM's dividend yield for the trailing twelve months is around 4.19%, less than ECOW's 4.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEM WisdomTree Emerging Markets Equity Income Fund	4.19%	4.88%	5.24%	5.49%	8.62%	5.87%	4.21%	4.78%	4.47%	3.67%	3.63%	5.21%
ECOW Pacer Emerging Markets Cash Cows 100 ETF	4.54%	5.20%	7.35%	5.46%	7.50%	4.39%	3.35%	8.08%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DEM and ECOW in my portfolio?

DEM and ECOW have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DEM or ECOW?

DEM has higher volatility (5.76%) compared to ECOW (5.00%). In terms of maximum drawdown, DEM dropped -51.85% vs ECOW's -40.27%.

Which ETF is better, DEM or ECOW?

On 5-year performance, DEM leads with 9.77% vs 6.59% for ECOW. On fees, DEM is cheaper at 0.63% per year. On volatility, ECOW has been the lower-risk option at 5.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DEM or ECOW?

Over the 5-year period, DEM has performed better with a 9.77% return vs 6.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DEM or ECOW?

DEM is cheaper with a 0.63% expense ratio, compared with 0.70% for ECOW.

Which ETF pays a higher dividend yield, DEM or ECOW?

ECOW has the higher dividend yield at 4.54%, compared with 4.19% for DEM.

What is the main difference between DEM and ECOW?

DEM tracks WisdomTree Emerging Markets Equity Income Index, while ECOW tracks Pacer Emerging Markets Cash Cows 100 Index. They also come from different issuers: WisdomTree and Pacer. Their fees differ too: 0.63% for DEM and 0.70% for ECOW.

Which has better risk-adjusted returns?

ECOW currently has the higher Sharpe Ratio (1.91 vs 1.51), 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.