ECOW vs. JPEM

Last updated Jun 4, 2026

ECOW (Pacer Emerging Markets Cash Cows 100 ETF) and JPEM (J.P. Morgan Diversified Return Emerging Markets Equity ETF) are both Emerging Markets Equities funds - ECOW tracks the Pacer Emerging Markets Cash Cows 100 Index while JPEM tracks the JPMorgan Diversified Factor Emerging Markets Equity Index. Both are passively managed. Over the past 5 years, ECOW returned 6.12%/yr vs 6.03%/yr for JPEM. A 0.76 correlation means they provide meaningful diversification when combined. ECOW charges 0.70%/yr vs 0.44%/yr for JPEM.

Performance

ECOW vs. JPEM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Emerging Markets Cash Cows 100 ETF (ECOW) and J.P. Morgan Diversified Return Emerging Markets Equity ETF (JPEM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ECOW achieves a 13.10% return, which is significantly higher than JPEM's 7.19% return.

ECOW

• 1D: -1.50%
• 1M: -0.42%
• YTD: 13.10%
• 6M: 12.29%
• 1Y: 35.35%
• 3Y*: 19.90%
• 5Y*: 6.12%
• 10Y*: —

JPEM

• 1D: -1.27%
• 1M: 0.82%
• YTD: 7.19%
• 6M: 8.77%
• 1Y: 22.34%
• 3Y*: 13.77%
• 5Y*: 6.03%
• 10Y*: 8.07%

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

ECOW vs. JPEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ECOW Pacer Emerging Markets Cash Cows 100 ETF	13.10%	32.50%	3.17%	15.79%	-19.28%	7.47%	-2.51%	10.37%
JPEM J.P. Morgan Diversified Return Emerging Markets Equity ETF	7.19%	22.90%	4.23%	11.01%	-9.03%	8.11%	-0.46%	7.65%

Correlation

The correlation between ECOW and JPEM is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since May 7, 2019	0.76

The correlation between ECOW and JPEM shifts across timeframes, from 0.76 (all time) to 0.87 (1 year), reflecting how their relationship changes across market environments.

ECOW vs. JPEM - Sectors Allocation Comparison

Sectors	ECOW	JPEM
Communication Services	18.4%	8.4%
Energy	16.1%	7.5%
Industrials	15.5%	13.1%
Consumer Cyclical	12.5%	10.0%
Technology	9.8%	6.7%
Basic Materials	9.6%	11.3%
Consumer Defensive	8.5%	8.6%
Utilities	7.9%	9.2%
Healthcare	1.6%	4.3%
Financial Services	-	19.1%
Real Estate	-	1.8%

Return for Risk

ECOW vs. JPEM — 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: 76
ECOW Sortino Ratio Rank: 72
ECOW Omega Ratio Rank: 76
ECOW Calmar Ratio Rank: 81
ECOW Martin Ratio Rank: 79

JPEM

JPEM Risk / Return Rank: 48
JPEM Sharpe Ratio Rank: 50
JPEM Sortino Ratio Rank: 48
JPEM Omega Ratio Rank: 51
JPEM Calmar Ratio Rank: 44
JPEM Martin Ratio Rank: 48

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. JPEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Emerging Markets Cash Cows 100 ETF (ECOW) and J.P. Morgan Diversified Return Emerging Markets Equity ETF (JPEM). 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.

	ECOW	JPEM	Difference
Sharpe ratio: Return per unit of total volatility	2.50	1.73	+0.77
Sortino ratio: Return per unit of downside risk	3.30	2.40	+0.90
Omega ratio: Gain probability vs. loss probability	1.46	1.32	+0.13
Calmar ratio: Return relative to maximum drawdown	4.25	2.17	+2.08
Martin ratio: Return relative to average drawdown	15.39	8.14	+7.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ECOW vs. JPEM - Sharpe Ratio Comparison

The current ECOW Sharpe Ratio is 2.50, which is higher than the JPEM Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of ECOW and JPEM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	ECOW	JPEM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	1.73	+0.77
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	0.45	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.48	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.33	+0.04

Drawdowns

ECOW vs. JPEM - Drawdown Comparison

The maximum ECOW drawdown since its inception was -40.27%, roughly equal to the maximum JPEM drawdown of -40.22%. Use the drawdown chart below to compare losses from any high point for ECOW and JPEM.

Drawdown Indicators

	ECOW	JPEM	Difference
Max Drawdown Largest peak-to-trough decline	-40.27%	-40.22%	-0.05%
Max Drawdown (1Y) Largest decline over 1 year	-8.35%	-10.32%	+1.97%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	-14.30%	-4.47%
Max Drawdown (5Y) Largest decline over 5 years	-33.67%	-21.57%	-12.10%
Max Drawdown (10Y) Largest decline over 10 years	—	-40.22%	—
Current Drawdown Current decline from peak	-3.53%	-3.08%	-0.45%
Average Drawdown Average peak-to-trough decline	-11.07%	-9.47%	-1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	2.75%	-0.45%

Volatility

ECOW vs. JPEM - Volatility Comparison

Pacer Emerging Markets Cash Cows 100 ETF (ECOW) and J.P. Morgan Diversified Return Emerging Markets Equity ETF (JPEM) have volatilities of 4.66% and 4.59%, 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.

Volatility by Period

	ECOW	JPEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.66%	4.59%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	10.88%	11.23%	-0.35%
Volatility (1Y) Calculated over the trailing 1-year period	14.19%	12.96%	+1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.65%	13.49%	+4.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.13%	17.04%	+3.09%

ECOW vs. JPEM - Expense Ratio Comparison

ECOW has a 0.70% expense ratio, which is higher than JPEM's 0.44% expense ratio.

Dividends

ECOW vs. JPEM - Dividend Comparison

ECOW's dividend yield for the trailing twelve months is around 4.60%, more than JPEM's 4.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ECOW Pacer Emerging Markets Cash Cows 100 ETF	4.60%	5.20%	7.35%	5.46%	7.50%	4.39%	3.35%	8.08%	0.00%	0.00%	0.00%	0.00%
JPEM J.P. Morgan Diversified Return Emerging Markets Equity ETF	4.40%	4.65%	5.12%	4.46%	4.71%	4.40%	2.85%	3.47%	2.79%	2.14%	1.28%	3.22%

Frequently Asked Questions

Can I hold both ECOW and JPEM in my portfolio?

ECOW and JPEM have a correlation of 0.87, 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 JPEM?

ECOW has higher volatility (4.66%) compared to JPEM (4.59%). In terms of maximum drawdown, ECOW dropped -40.27% vs JPEM's -40.22%.

Which ETF is better, ECOW or JPEM?

On 5-year performance, ECOW leads with 6.12% vs 6.03% for JPEM. On fees, JPEM is cheaper at 0.44% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ECOW or JPEM?

Over the 5-year period, ECOW has performed better with a 6.12% return vs 6.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ECOW or JPEM?

JPEM is cheaper with a 0.44% expense ratio, compared with 0.70% for ECOW.

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

ECOW has the higher dividend yield at 4.60%, compared with 4.40% for JPEM.

What is the main difference between ECOW and JPEM?

ECOW tracks Pacer Emerging Markets Cash Cows 100 Index, while JPEM tracks JPMorgan Diversified Factor Emerging Markets Equity Index. They also come from different issuers: Pacer and JPMorgan. Their fees differ too: 0.70% for ECOW and 0.44% for JPEM.

Which has better risk-adjusted returns?

ECOW currently has the higher Sharpe Ratio (2.50 vs 1.73), 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.