ECOW vs. DEM

Last updated Jul 15, 2026

ECOW (Pacer Emerging Markets Cash Cows 100 ETF) and DEM (WisdomTree Emerging Markets Equity Income Fund) are both Emerging Markets Equities funds - ECOW tracks the Pacer Emerging Markets Cash Cows 100 Index while DEM tracks the WisdomTree Emerging Markets Equity Income Index. Both are passively managed. Over the past 5 years, ECOW returned 6.80%/yr vs 9.80%/yr for DEM. A 0.75 correlation means they provide meaningful diversification when combined. ECOW charges 0.70%/yr vs 0.63%/yr for DEM.

Performance

ECOW vs. DEM - Performance Comparison

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

Returns By Period

In the year-to-date period, ECOW achieves a 11.73% return, which is significantly lower than DEM's 17.36% return.

ECOW

• 1D: 1.00%
• 1M: 0.42%
• 6M: 8.19%
• YTD: 11.73%
• 1Y: 29.58%
• 3Y*: 16.73%
• 5Y*: 6.80%
• 10Y*: —

DEM

• 1D: 0.56%
• 1M: -2.07%
• 6M: 14.97%
• YTD: 17.36%
• 1Y: 22.63%
• 3Y*: 16.85%
• 5Y*: 9.80%
• 10Y*: 9.28%

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

ECOW vs. DEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ECOW Pacer Emerging Markets Cash Cows 100 ETF	11.73%	32.50%	3.17%	15.79%	-19.28%	7.47%	-2.51%	10.37%
DEM WisdomTree Emerging Markets Equity Income Fund	17.36%	21.29%	4.46%	20.93%	-10.43%	11.49%	-5.84%	7.46%

Correlation

The correlation between ECOW and DEM is 0.80, 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	0.80
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 ECOW and DEM has been stable across timeframes, ranging from 0.75 to 0.84 - a consistent structural relationship.

ECOW vs. DEM - Sectors Allocation Comparison

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

Return for Risk

ECOW vs. DEM — Risk / Return Rank

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

ECOW

ECOW Risk / Return Rank: 77
ECOW Sharpe Ratio Rank: 79
ECOW Sortino Ratio Rank: 76
ECOW Omega Ratio Rank: 77
ECOW Calmar Ratio Rank: 83
ECOW Martin Ratio Rank: 68

DEM

DEM Risk / Return Rank: 61
DEM Sharpe Ratio Rank: 57
DEM Sortino Ratio Rank: 56
DEM Omega Ratio Rank: 57
DEM Calmar Ratio Rank: 71
DEM 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.

ECOW vs. DEM - Risk-Adjusted Trends Comparison

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

	ECOW	DEM	Difference
Sharpe ratio: Return per unit of total volatility	2.00	1.55	+0.46
Sortino ratio: Return per unit of downside risk	2.72	2.15	+0.57
Omega ratio: Gain probability vs. loss probability	1.36	1.28	+0.08
Calmar ratio: Return relative to maximum drawdown	3.56	2.88	+0.68
Martin ratio: Return relative to average drawdown	9.77	9.25	+0.52

ECOW vs. DEM - Sharpe Ratio Comparison

The current ECOW Sharpe Ratio is 2.00, which is comparable to the DEM Sharpe Ratio of 1.55. The chart below compares the historical Sharpe Ratios of ECOW and DEM, 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

ECOW vs. DEM - Drawdown Comparison

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

Drawdown Indicators

	ECOW	DEM	Difference
Max Drawdown Largest peak-to-trough decline	-40.27%	-51.85%	+11.58%
Max Drawdown (1Y) Largest decline over 1 year	-8.35%	-7.89%	-0.46%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	-15.64%	-3.13%
Max Drawdown (5Y) Largest decline over 5 years	-33.30%	-27.18%	-6.12%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.79%	—
Current Drawdown Current decline from peak	-4.70%	-3.33%	-1.37%
Average Drawdown Average peak-to-trough decline	-10.99%	-12.84%	+1.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.04%	2.45%	+0.59%

Volatility

ECOW vs. DEM - Volatility Comparison

The current volatility for Pacer Emerging Markets Cash Cows 100 ETF (ECOW) is 4.27%, while WisdomTree Emerging Markets Equity Income Fund (DEM) has a volatility of 5.17%. This indicates that ECOW experiences smaller price fluctuations and is considered to be less risky than DEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ECOW	DEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.27%	5.17%	-0.90%
Volatility (6M) Calculated over the trailing 6-month period	12.08%	13.00%	-0.92%
Volatility (1Y) Calculated over the trailing 1-year period	14.85%	14.71%	+0.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.78%	15.57%	+2.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.09%	17.84%	+2.25%

ECOW vs. DEM - Expense Ratio Comparison

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

Dividends

ECOW vs. DEM - Dividend Comparison

ECOW's dividend yield for the trailing twelve months is around 4.49%, more than DEM's 4.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DEM WisdomTree Emerging Markets Equity Income Fund	4.17%	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	4.49%	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 ECOW and DEM in my portfolio?

ECOW and DEM 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, ECOW or DEM?

DEM has higher volatility (5.17%) compared to ECOW (4.27%). In terms of maximum drawdown, ECOW dropped -40.27% vs DEM's -51.85%.

Which ETF is better, ECOW or DEM?

On 5-year performance, DEM leads with 9.80% vs 6.80% for ECOW. On fees, DEM is cheaper at 0.63% per year. On volatility, ECOW has been the lower-risk option at 4.27%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ECOW or DEM?

Over the 5-year period, DEM has performed better with a 9.80% return vs 6.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ECOW or DEM?

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

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

ECOW has the higher dividend yield at 4.49%, compared with 4.17% for DEM.

What is the main difference between ECOW and DEM?

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

Which has better risk-adjusted returns?

ECOW currently has the higher Sharpe Ratio (2.00 vs 1.55), 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.