EAFG vs. CALF

Last updated Jun 24, 2026

EAFG (Pacer Developed Markets Cash Cows Growth Leaders ETF) and CALF (Pacer US Small Cap Cash Cows 100 ETF) are both exchange-traded funds - EAFG is a Foreign Large Cap Equities fund tracking the Pacer Developed Markets Cash Cows Growth Leaders Index, while CALF is a Small Cap Blend Equities fund tracking the Pacer US Small Cap Cash Cows Index. Both are passively managed. Over the past year, EAFG returned 24.38% vs 26.19% for CALF. A 0.53 correlation means they provide meaningful diversification when combined. EAFG charges 0.65%/yr vs 0.59%/yr for CALF.

Performance

EAFG vs. CALF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Developed Markets Cash Cows Growth Leaders ETF (EAFG) and Pacer US Small Cap Cash Cows 100 ETF (CALF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with EAFG having a 11.36% return and CALF slightly lower at 10.96%.

EAFG

• 1D: -3.66%
• 1M: 1.71%
• YTD: 11.36%
• 6M: 10.83%
• 1Y: 24.38%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CALF

• 1D: 0.34%
• 1M: 0.78%
• YTD: 10.96%
• 6M: 9.95%
• 1Y: 26.19%
• 3Y*: 9.45%
• 5Y*: 3.49%
• 10Y*: —

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

EAFG vs. CALF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF	11.36%	26.39%	-5.92%
CALF Pacer US Small Cap Cash Cows 100 ETF	10.96%	2.33%	-7.91%

Correlation

The correlation between EAFG and CALF is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Mar 21, 2024	0.53

The correlation between EAFG and CALF has been stable across timeframes, ranging from 0.46 to 0.53 - a consistent structural relationship.

EAFG vs. CALF - Sectors Allocation Comparison

Sectors	EAFG	CALF
Technology	21.2%	32.4%
Basic Materials	17.0%	1.6%
Industrials	15.1%	5.4%
Healthcare	11.2%	9.7%
Communication Services	9.5%	8.3%
Consumer Cyclical	9.5%	28.5%
Consumer Defensive	6.8%	3.6%
Energy	2.4%	8.9%
Utilities	0.5%	-
Financial Services	0.5%	0.2%
Real Estate	-	1.5%

Return for Risk

EAFG vs. CALF — Risk / Return Rank

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

EAFG

EAFG Risk / Return Rank: 41
EAFG Sharpe Ratio Rank: 41
EAFG Sortino Ratio Rank: 39
EAFG Omega Ratio Rank: 39
EAFG Calmar Ratio Rank: 42
EAFG Martin Ratio Rank: 46

CALF

CALF Risk / Return Rank: 60
CALF Sharpe Ratio Rank: 50
CALF Sortino Ratio Rank: 52
CALF Omega Ratio Rank: 47
CALF Calmar Ratio Rank: 83
CALF Martin Ratio Rank: 67

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.

EAFG vs. CALF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Developed Markets Cash Cows Growth Leaders ETF (EAFG) and Pacer US Small Cap Cash Cows 100 ETF (CALF). 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.

	EAFG	CALF	Difference
Sharpe ratio: Return per unit of total volatility	1.33	1.64	-0.32
Sortino ratio: Return per unit of downside risk	1.85	2.40	-0.55
Omega ratio: Gain probability vs. loss probability	1.24	1.29	-0.05
Calmar ratio: Return relative to maximum drawdown	1.93	4.28	-2.35
Martin ratio: Return relative to average drawdown	7.06	11.68	-4.62

EAFG vs. CALF - Sharpe Ratio Comparison

The current EAFG Sharpe Ratio is 1.33, which is comparable to the CALF Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of EAFG and CALF, 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

EAFG vs. CALF - Drawdown Comparison

The maximum EAFG drawdown since its inception was -16.47%, smaller than the maximum CALF drawdown of -47.58%. Use the drawdown chart below to compare losses from any high point for EAFG and CALF.

Drawdown Indicators

	EAFG	CALF	Difference
Max Drawdown Largest peak-to-trough decline	-16.47%	-47.58%	+31.11%
Max Drawdown (1Y) Largest decline over 1 year	-12.71%	-6.15%	-6.56%
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	-3.66%	-4.01%	+0.35%
Average Drawdown Average peak-to-trough decline	-3.16%	-10.69%	+7.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	2.25%	+1.21%

Volatility

EAFG vs. CALF - Volatility Comparison

Pacer Developed Markets Cash Cows Growth Leaders ETF (EAFG) has a higher volatility of 7.56% compared to Pacer US Small Cap Cash Cows 100 ETF (CALF) at 5.39%. This indicates that EAFG's price experiences larger fluctuations and is considered to be riskier than CALF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EAFG	CALF	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.56%	5.39%	+2.17%
Volatility (6M) Calculated over the trailing 6-month period	16.20%	10.92%	+5.28%
Volatility (1Y) Calculated over the trailing 1-year period	18.51%	16.02%	+2.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.69%	23.39%	-5.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.69%	25.97%	-8.28%

EAFG vs. CALF - Expense Ratio Comparison

EAFG has a 0.65% expense ratio, which is higher than CALF's 0.59% expense ratio.

Dividends

EAFG vs. CALF - Dividend Comparison

EAFG's dividend yield for the trailing twelve months is around 1.96%, more than CALF's 1.24% 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%
EAFG Pacer Developed Markets Cash Cows Growth Leaders ETF	1.96%	1.31%	1.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both EAFG and CALF in my portfolio?

EAFG and CALF have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EAFG or CALF?

EAFG has higher volatility (7.56%) compared to CALF (5.39%). In terms of maximum drawdown, EAFG dropped -16.47% vs CALF's -47.58%.

Which ETF is better, EAFG or CALF?

On 1-year performance, CALF leads with 26.19% vs 24.38% for EAFG. On fees, CALF is cheaper at 0.59% per year. On volatility, CALF has been the lower-risk option at 5.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EAFG or CALF?

Over the 1-year period, CALF has performed better with a 26.19% return vs 24.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EAFG or CALF?

CALF is cheaper with a 0.59% expense ratio, compared with 0.65% for EAFG.

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

EAFG has the higher dividend yield at 1.96%, compared with 1.24% for CALF.

What is the main difference between EAFG and CALF?

EAFG is categorized as Foreign Large Cap Equities, while CALF is Small Cap Blend Equities. EAFG tracks Pacer Developed Markets Cash Cows Growth Leaders Index, while CALF tracks Pacer US Small Cap Cash Cows Index. Their fees differ too: 0.65% for EAFG and 0.59% for CALF.

Which has better risk-adjusted returns?

CALF currently has the higher Sharpe Ratio (1.64 vs 1.33), 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.