ECOW vs. VOO

Last updated Jun 23, 2026

ECOW (Pacer Emerging Markets Cash Cows 100 ETF) and VOO (Vanguard S&P 500 ETF) are both exchange-traded funds - ECOW is a Emerging Markets Equities fund tracking the Pacer Emerging Markets Cash Cows 100 Index, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 5 years, ECOW returned 6.16%/yr vs 13.58%/yr for VOO. At a 0.48 correlation, their price movements are largely independent. ECOW charges 0.70%/yr vs 0.03%/yr for VOO.

Performance

ECOW vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Emerging Markets Cash Cows 100 ETF (ECOW) and Vanguard S&P 500 ETF (VOO). 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 ECOW having a 9.99% return and VOO slightly lower at 9.75%.

ECOW

• 1D: -0.93%
• 1M: -2.16%
• YTD: 9.99%
• 6M: 10.32%
• 1Y: 32.75%
• 3Y*: 18.27%
• 5Y*: 6.16%
• 10Y*: —

VOO

• 1D: -0.29%
• 1M: 0.08%
• YTD: 9.75%
• 6M: 9.30%
• 1Y: 26.77%
• 3Y*: 21.36%
• 5Y*: 13.58%
• 10Y*: 15.77%

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

ECOW vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
ECOW Pacer Emerging Markets Cash Cows 100 ETF	9.99%	32.50%	3.17%	15.79%	-19.28%	7.47%	-2.51%	10.37%
VOO Vanguard S&P 500 ETF	9.75%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	11.16%

Correlation

The correlation between ECOW and VOO is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.54
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (All Time) Calculated using the full available price history since May 6, 2019	0.48

The correlation between ECOW and VOO shifts across timeframes, from 0.48 (all time) to 0.63 (1 year), reflecting how their relationship changes across market environments.

ECOW vs. VOO - Sectors Allocation Comparison

Sectors	ECOW	VOO
Communication Services	15.1%	10.5%
Industrials	15.0%	7.6%
Consumer Cyclical	10.7%	9.8%
Technology	10.3%	39.1%
Energy	9.8%	3.2%
Consumer Defensive	9.1%	4.5%
Basic Materials	8.4%	1.7%
Utilities	6.2%	2.5%
Healthcare	0.9%	8.3%
Financial Services	-	10.9%
Real Estate	-	1.8%

Return for Risk

ECOW vs. VOO — Risk / Return Rank

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

ECOW

ECOW Risk / Return Rank: 72
ECOW Sharpe Ratio Rank: 72
ECOW Sortino Ratio Rank: 68
ECOW Omega Ratio Rank: 72
ECOW Calmar Ratio Rank: 79
ECOW Martin Ratio Rank: 70

VOO

VOO Risk / Return Rank: 68
VOO Sharpe Ratio Rank: 70
VOO Sortino Ratio Rank: 67
VOO Omega Ratio Rank: 69
VOO Calmar Ratio Rank: 63
VOO Martin Ratio Rank: 74

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. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Emerging Markets Cash Cows 100 ETF (ECOW) and Vanguard S&P 500 ETF (VOO). 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	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.23	2.17	+0.06
Sortino ratio: Return per unit of downside risk	2.99	2.93	+0.06
Omega ratio: Gain probability vs. loss probability	1.41	1.39	+0.01
Calmar ratio: Return relative to maximum drawdown	3.94	3.02	+0.92
Martin ratio: Return relative to average drawdown	12.54	13.58	-1.04

ECOW vs. VOO - Sharpe Ratio Comparison

The current ECOW Sharpe Ratio is 2.23, which is comparable to the VOO Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of ECOW and VOO, 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. VOO - Drawdown Comparison

The maximum ECOW drawdown since its inception was -40.27%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for ECOW and VOO.

Drawdown Indicators

	ECOW	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-40.27%	-33.99%	-6.28%
Max Drawdown (1Y) Largest decline over 1 year	-8.35%	-8.90%	+0.55%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	-18.69%	-0.08%
Max Drawdown (5Y) Largest decline over 5 years	-33.30%	-24.52%	-8.78%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-6.18%	-1.74%	-4.44%
Average Drawdown Average peak-to-trough decline	-11.03%	-3.68%	-7.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	1.98%	+0.64%

Volatility

ECOW vs. VOO - Volatility Comparison

Pacer Emerging Markets Cash Cows 100 ETF (ECOW) has a higher volatility of 5.37% compared to Vanguard S&P 500 ETF (VOO) at 4.60%. This indicates that ECOW's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ECOW	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.37%	4.60%	+0.77%
Volatility (6M) Calculated over the trailing 6-month period	11.74%	9.73%	+2.01%
Volatility (1Y) Calculated over the trailing 1-year period	14.77%	12.39%	+2.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.74%	16.90%	+0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.14%	18.05%	+2.09%

ECOW vs. VOO - Expense Ratio Comparison

ECOW has a 0.70% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

ECOW vs. VOO - Dividend Comparison

ECOW's dividend yield for the trailing twelve months is around 4.56%, more than VOO's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ECOW Pacer Emerging Markets Cash Cows 100 ETF	4.56%	5.20%	7.35%	5.46%	7.50%	4.39%	3.35%	8.08%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.04%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both ECOW and VOO in my portfolio?

ECOW and VOO have a correlation of 0.63, 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 VOO?

ECOW has higher volatility (5.37%) compared to VOO (4.60%). In terms of maximum drawdown, ECOW dropped -40.27% vs VOO's -33.99%.

Which ETF is better, ECOW or VOO?

On 5-year performance, VOO leads with 13.58% vs 6.16% for ECOW. On fees, VOO is cheaper at 0.03% per year. On volatility, VOO has been the lower-risk option at 4.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ECOW or VOO?

Over the 5-year period, VOO has performed better with a 13.58% return vs 6.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ECOW or VOO?

VOO is cheaper with a 0.03% expense ratio, compared with 0.70% for ECOW.

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

ECOW has the higher dividend yield at 4.56%, compared with 1.04% for VOO.

What is the main difference between ECOW and VOO?

ECOW is categorized as Emerging Markets Equities, while VOO is S&P 500. ECOW tracks Pacer Emerging Markets Cash Cows 100 Index, while VOO tracks S&P 500 Index. They also come from different issuers: Pacer and Vanguard. Their fees differ too: 0.70% for ECOW and 0.03% for VOO.

Which has better risk-adjusted returns?

ECOW currently has the higher Sharpe Ratio (2.23 vs 2.17), 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.