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ECOW vs. DVYE
Performance
Return for Risk
Drawdowns
Volatility
Dividends

ECOW vs. DVYE

Last updated Jul 14, 2026
Documentation

ECOW (Pacer Emerging Markets Cash Cows 100 ETF) and DVYE (iShares Emerging Markets Dividend ETF) are both Emerging Markets Equities funds - ECOW tracks the Pacer Emerging Markets Cash Cows 100 Index while DVYE tracks the Dow Jones Emerging Markets Select Dividend Index (Net). Both are passively managed. Over the past 5 years, ECOW returned 6.59%/yr vs 5.16%/yr for DVYE. A 0.73 correlation means they provide meaningful diversification when combined. ECOW charges 0.70%/yr vs 0.50%/yr for DVYE.

Performance

ECOW vs. DVYE - Performance Comparison

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

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Returns By Period

In the year-to-date period, ECOW achieves a 10.62% return, which is significantly higher than DVYE's 7.73% return.

ECOW

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

DVYE

1D
-1.02%
1M
-2.86%
6M
4.22%
YTD
7.73%
1Y
19.32%
3Y*
19.05%
5Y*
5.16%
10Y*
6.63%
*Multi-year figures are annualized to reflect compound growth (CAGR)

ECOW vs. DVYE - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
ECOW
Pacer Emerging Markets Cash Cows 100 ETF		10.62%32.50%3.17%15.79%-19.28%7.47%-2.51%10.37%
DVYE
iShares Emerging Markets Dividend ETF		7.73%28.36%8.89%20.88%-31.38%11.02%-2.51%5.10%

Correlation

The correlation between ECOW and DVYE 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

0.81

Correlation (5Y)
Calculated over the trailing 5-year period

0.81

Correlation (All Time)
Calculated using the full available price history since May 6, 2019

0.73

The correlation between ECOW and DVYE has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.

ECOW vs. DVYE - Sectors Allocation Comparison

Sectors
ECOW
DVYE

Consumer Cyclical

14.7%
4.3%

Consumer Defensive

13.1%
2.1%

Communication Services

12.8%
1.7%

Basic Materials

11.1%
8.8%

Industrials

9.3%
17.0%

Energy

8.6%
18.2%

Utilities

7.2%
7.0%

Technology

6.8%
8.4%

Healthcare

3.6%

-

Financial Services

-

28.5%

Real Estate

-

4.0%

Consumer Cyclical

ECOW
14.7%
DVYE
4.3%

Consumer Defensive

ECOW
13.1%
DVYE
2.1%

Communication Services

ECOW
12.8%
DVYE
1.7%

Basic Materials

ECOW
11.1%
DVYE
8.8%

Industrials

ECOW
9.3%
DVYE
17.0%

Energy

ECOW
8.6%
DVYE
18.2%

Utilities

ECOW
7.2%
DVYE
7.0%

Technology

ECOW
6.8%
DVYE
8.4%

Healthcare

ECOW
3.6%
DVYE

-

Financial Services

ECOW

-

DVYE
28.5%

Real Estate

ECOW

-

DVYE
4.0%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Pacer Emerging Markets Cash Cows 100 ETF

iShares Emerging Markets Dividend ETF

Often compared with ECOW:
ECOW vs. EYLDECOW vs. EEMSECOW vs. FEDDXECOW vs. MOTIECOW vs. DFEVXECOW vs. DEMECOW vs. COWZ
Often compared with DVYE:
DVYE vs. DEMDVYE vs. DVYDVYE vs. DVYADVYE vs. SCHDDVYE vs. SCHEDVYE vs. IQDYDVYE vs. QQQ

Return for Risk

ECOW vs. DVYE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
ECOW
ECOW Risk / Return Rank: 7474
Overall Rank
ECOW Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
ECOW Sortino Ratio Rank: 7373
Sortino Ratio Rank
ECOW Omega Ratio Rank: 7474
Omega Ratio Rank
ECOW Calmar Ratio Rank: 8181
Calmar Ratio Rank
ECOW Martin Ratio Rank: 6565
Martin Ratio Rank
DVYE
DVYE Risk / Return Rank: 4747
Overall Rank
DVYE Sharpe Ratio Rank: 4646
Sharpe Ratio Rank
DVYE Sortino Ratio Rank: 4343
Sortino Ratio Rank
DVYE Omega Ratio Rank: 4444
Omega Ratio Rank
DVYE Calmar Ratio Rank: 5252
Calmar Ratio Rank
DVYE Martin Ratio Rank: 4747
Martin Ratio Rank
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. DVYE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Emerging Markets Cash Cows 100 ETF (ECOW) and iShares Emerging Markets Dividend ETF (DVYE). 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.

ECOWDVYEDifference
Sharpe ratioReturn per unit of total volatility
1.91
1.30

+0.61

Sortino ratioReturn per unit of downside risk
2.62
1.81

+0.81

Omega ratioGain probability vs. loss probability

1.34

1.23

+0.11

Calmar ratioReturn relative to maximum drawdown

3.40

2.10

+1.30

Martin ratioReturn relative to average drawdown

9.37

6.20

+3.17

ECOW vs. DVYE - Sharpe Ratio Comparison

The current ECOW Sharpe Ratio is 1.91, which is higher than the DVYE Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of ECOW and DVYE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

ECOW vs. DVYE - Drawdown Comparison

The maximum ECOW drawdown since its inception was -40.27%, smaller than the maximum DVYE drawdown of -47.42%. Use the drawdown chart below to compare losses from any high point for ECOW and DVYE.

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Drawdown Indicators

ECOWDVYEDifference

Max Drawdown

Largest peak-to-trough decline

-40.27%

-47.42%

+7.15%

Max Drawdown (1Y)

Largest decline over 1 year

-8.35%

-9.26%

+0.91%

Max Drawdown (3Y)

Largest decline over 3 years

-18.77%

-14.63%

-4.14%

Max Drawdown (5Y)

Largest decline over 5 years

-33.30%

-40.89%

+7.59%

Max Drawdown (10Y)

Largest decline over 10 years

—

-40.89%

—

Current Drawdown

Current decline from peak

-5.64%

-6.44%

+0.80%

Average Drawdown

Average peak-to-trough decline

-10.99%

-15.31%

+4.32%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.02%

3.12%

-0.10%

Volatility

ECOW vs. DVYE - Volatility Comparison

Pacer Emerging Markets Cash Cows 100 ETF (ECOW) and iShares Emerging Markets Dividend ETF (DVYE) have volatilities of 5.00% and 4.88%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

ECOWDVYEDifference

Volatility (1M)

Calculated over the trailing 1-month period

5.00%

4.88%

+0.12%

Volatility (6M)

Calculated over the trailing 6-month period

12.05%

12.58%

-0.53%

Volatility (1Y)

Calculated over the trailing 1-year period

14.85%

14.93%

-0.08%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.78%

17.12%

+0.66%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.10%

18.28%

+1.82%

ECOW vs. DVYE - Expense Ratio Comparison

ECOW has a 0.70% expense ratio, which is higher than DVYE's 0.50% expense ratio.

Dividends

ECOW vs. DVYE - Dividend Comparison

ECOW's dividend yield for the trailing twelve months is around 4.54%, less than DVYE's 5.00% yield.

PositionTTM20252024202320222021202020192018201720162015
DVYE
iShares Emerging Markets Dividend ETF		5.00%5.88%11.81%9.05%9.89%7.31%5.27%5.97%5.69%4.81%4.56%6.53%
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

ECOW and DVYE 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.

ECOW has higher volatility (5.00%) compared to DVYE (4.88%). In terms of maximum drawdown, ECOW dropped -40.27% vs DVYE's -47.42%.

On 5-year performance, ECOW leads with 6.59% vs 5.16% for DVYE. On fees, DVYE is cheaper at 0.50% per year. On volatility, DVYE has been the lower-risk option at 4.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, ECOW has performed better with a 6.59% return vs 5.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

DVYE is cheaper with a 0.50% expense ratio, compared with 0.70% for ECOW.

DVYE has the higher dividend yield at 5.00%, compared with 4.54% for ECOW.

ECOW tracks Pacer Emerging Markets Cash Cows 100 Index, while DVYE tracks Dow Jones Emerging Markets Select Dividend Index (Net). They also come from different issuers: Pacer and iShares. Their fees differ too: 0.70% for ECOW and 0.50% for DVYE.

ECOW currently has the higher Sharpe Ratio (1.91 vs 1.30), 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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