ECOW vs. SDEM

Last updated Aug 2, 2026

ECOW (Pacer Emerging Markets Cash Cows 100 ETF) and SDEM (Global X MSCI SuperDividend Emerging Markets ETF) are both Emerging Markets Equities funds - ECOW tracks the Pacer Emerging Markets Cash Cows 100 Index while SDEM tracks the MSCI Emerging Markets Top 50 Dividend. Both are passively managed. Over the past 5 years, ECOW returned 7.26%/yr vs 6.12%/yr for SDEM. Their 0.72 correlation means they have sometimes moved together and sometimes differently. ECOW charges 0.70%/yr vs 0.67%/yr for SDEM.

Performance

ECOW vs. SDEM - Performance Comparison

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

Returns By Period

In the year-to-date period, ECOW achieves a 13.04% return, which is significantly lower than SDEM's 13.99% return.

ECOW

• 1D: -0.60%
• 1M: 3.22%
• 6M: 5.35%
• YTD: 13.04%
• 1Y: 29.31%
• 3Y*: 16.24%
• 5Y*: 7.26%
• 10Y*: —
• ALL TIME*: 7.35%

SDEM

• 1D: -0.42%
• 1M: 4.50%
• 6M: 5.07%
• YTD: 13.99%
• 1Y: 28.41%
• 3Y*: 18.54%
• 5Y*: 6.12%
• 10Y*: 4.40%
• ALL TIME*: 3.94%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
ECOW Pacer Emerging Markets Cash Cows 100 ETF	$617.95K	$706.50K	$1.39M
SDEM Global X MSCI SuperDividend Emerging Markets ETF	$101.46K	$99.85K	$114.98K

ECOW vs. SDEM - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ECOW Pacer Emerging Markets Cash Cows 100 ETF	13.04%	32.50%	3.17%	15.79%	-19.28%	7.47%	-2.51%	10.37%
SDEM Global X MSCI SuperDividend Emerging Markets ETF	13.99%	32.01%	4.02%	12.64%	-21.53%	2.11%	-11.13%	6.44%

Correlation

The correlation between ECOW and SDEM is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (5Y) Shows whether the relationship held over a longer period.	0.81
Correlation (All Time) Calculated using the full available price history since May 6, 2019	0.72

The correlation between ECOW and SDEM has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.

ECOW vs. SDEM - Sectors Allocation Comparison

Sectors	ECOW	SDEM
Communication Services	15.2%	5.5%
Consumer Cyclical	13.9%	6.0%
Consumer Defensive	11.6%	5.4%
Basic Materials	11.2%	5.2%
Industrials	10.7%	10.2%
Energy	10.4%	3.6%
Utilities	6.9%	7.2%
Technology	4.2%	2.5%
Healthcare	3.7%	1.9%
Financial Services	-	27.7%
Real Estate	-	7.7%

Return for Risk

ECOW vs. SDEM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

ECOW

ECOW Risk / Return Rank: 83
ECOW Sharpe Ratio Rank: 86
ECOW Sortino Ratio Rank: 83
ECOW Omega Ratio Rank: 84
ECOW Calmar Ratio Rank: 88
ECOW Martin Ratio Rank: 75

SDEM

SDEM Risk / Return Rank: 83
SDEM Sharpe Ratio Rank: 87
SDEM Sortino Ratio Rank: 86
SDEM Omega Ratio Rank: 82
SDEM Calmar Ratio Rank: 85
SDEM Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

ECOW vs. SDEM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Emerging Markets Cash Cows 100 ETF (ECOW) and Global X MSCI SuperDividend Emerging Markets ETF (SDEM). 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	SDEM	Difference
Sharpe ratio: Return per unit of total volatility	2.02	2.05	-0.03
Sortino ratio: Return per unit of downside risk	2.74	2.86	-0.12
Omega ratio: Gain probability vs. loss probability	1.37	1.35	+0.02
Calmar ratio: Return relative to maximum drawdown	3.56	3.23	+0.33
Martin ratio: Return relative to average drawdown	9.38	9.60	-0.22

ECOW vs. SDEM - Sharpe Ratio Comparison

The current ECOW Sharpe Ratio is 2.02, which is comparable to the SDEM Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of ECOW and SDEM, 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. SDEM - Drawdown Comparison

The maximum ECOW drawdown since its inception was -40.27%, smaller than the maximum SDEM drawdown of -47.38%. Use the drawdown chart below to compare losses from any high point for ECOW and SDEM.

Drawdown Indicators

	ECOW	SDEM	Difference
Max Drawdown Largest peak-to-trough decline	-40.27%	-47.38%	+7.11%
Max Drawdown (1Y) Largest decline over 1 year	-8.35%	-9.03%	+0.68%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	-12.34%	-6.43%
Max Drawdown (5Y) Largest decline over 5 years	-33.30%	-36.08%	+2.78%
Max Drawdown (10Y) Largest decline over 10 years	—	-47.38%	—
Current Drawdown Current decline from peak	-3.58%	-1.04%	-2.54%
Average Drawdown Average peak-to-trough decline	-10.94%	-20.46%	+9.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.16%	3.03%	+0.13%

Volatility

ECOW vs. SDEM - Volatility Comparison

The current volatility for Pacer Emerging Markets Cash Cows 100 ETF (ECOW) is 3.51%, while Global X MSCI SuperDividend Emerging Markets ETF (SDEM) has a volatility of 3.94%. This indicates that ECOW experiences smaller price fluctuations and is considered to be less risky than SDEM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ECOW	SDEM	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.51%	3.94%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	11.99%	11.69%	+0.30%
Volatility (1Y) Calculated over the trailing 1-year period	14.81%	14.28%	+0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.73%	17.47%	+0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.04%	19.05%	+0.99%

ECOW vs. SDEM - Expense Ratio Comparison

ECOW has a 0.70% expense ratio, which is higher than SDEM's 0.67% expense ratio.

Dividends

ECOW vs. SDEM - Dividend Comparison

ECOW's dividend yield for the trailing twelve months is around 4.44%, less than SDEM's 4.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ECOW Pacer Emerging Markets Cash Cows 100 ETF	4.44%	5.20%	7.35%	5.46%	7.50%	4.39%	3.35%	8.08%	0.00%	0.00%	0.00%	0.00%
SDEM Global X MSCI SuperDividend Emerging Markets ETF	4.91%	5.27%	7.28%	7.50%	8.86%	8.14%	6.30%	6.47%	6.55%	5.01%	5.06%	6.14%

Frequently Asked Questions

Can I hold both ECOW and SDEM in my portfolio?

ECOW and SDEM have a correlation of 0.81, 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 SDEM?

SDEM has higher volatility (3.94%) compared to ECOW (3.51%). In terms of maximum drawdown, ECOW dropped -40.27% vs SDEM's -47.38%.

Which ETF is better, ECOW or SDEM?

On 5-year performance, ECOW leads with 7.26% vs 6.12% for SDEM. On fees, SDEM is cheaper at 0.67% per year. On volatility, ECOW has been the lower-risk option at 3.51%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ECOW or SDEM?

Over the 5-year period, ECOW has performed better with a 7.26% return vs 6.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ECOW or SDEM?

SDEM is cheaper with a 0.67% expense ratio, compared with 0.70% for ECOW.

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

SDEM has the higher dividend yield at 4.91%, compared with 4.44% for ECOW.

What is the main difference between ECOW and SDEM?

ECOW tracks Pacer Emerging Markets Cash Cows 100 Index, while SDEM tracks MSCI Emerging Markets Top 50 Dividend. They also come from different issuers: Pacer and Global X. Their fees differ too: 0.70% for ECOW and 0.67% for SDEM.

Which has better risk-adjusted returns?

SDEM currently has the higher Sharpe Ratio (2.05 vs 2.02), 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.