EEMD vs. ECOW

Last updated Jun 4, 2026

EEMD (AAM S&P Emerging Markets High Dividend Value ETF) and ECOW (Pacer Emerging Markets Cash Cows 100 ETF) are both Emerging Markets Equities funds - EEMD tracks the S&P Emerging Markets Dividend and Free Cash Flow Yield while ECOW tracks the Pacer Emerging Markets Cash Cows 100 Index. Both are passively managed. A 0.62 correlation means they provide meaningful diversification when combined. EEMD charges 0.50%/yr vs 0.70%/yr for ECOW.

Performance

EEMD vs. ECOW - Performance Comparison

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

Returns By Period

EEMD

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ECOW

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

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

EEMD vs. ECOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
EEMD AAM S&P Emerging Markets High Dividend Value ETF	0.00%	0.00%	9.61%	17.60%	-11.21%	5.54%	-0.35%	7.28%
ECOW Pacer Emerging Markets Cash Cows 100 ETF	13.10%	32.50%	3.17%	15.79%	-19.28%	7.47%	-2.51%	10.37%

Correlation

The correlation between EEMD and ECOW is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (All Time) Calculated using the full available price history since May 7, 2019	0.62

The correlation between EEMD and ECOW shifts across timeframes, from 0.53 (3 years) to 0.66 (5 years), reflecting how their relationship changes across market environments.

EEMD vs. ECOW - Sectors Allocation Comparison

Sectors	EEMD	ECOW
Utilities	11.3%	7.9%
Energy	10.6%	16.1%
Real Estate	9.8%	-
Consumer Defensive	9.7%	8.5%
Healthcare	9.5%	1.6%
Communication Services	9.1%	18.4%
Financial Services	9.0%	-
Consumer Cyclical	8.8%	12.5%
Industrials	8.2%	15.5%
Basic Materials	7.4%	9.6%
Technology	6.6%	9.8%

Return for Risk

EEMD vs. ECOW — 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

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.

EEMD vs. ECOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AAM S&P Emerging Markets High Dividend Value ETF (EEMD) and Pacer Emerging Markets Cash Cows 100 ETF (ECOW). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	EEMD	ECOW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.50	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.37	—

Drawdowns

Drawdown Indicators

	EEMD	ECOW	Difference
Max Drawdown Largest peak-to-trough decline	—	-40.27%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.35%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.67%	—
Current Drawdown Current decline from peak	—	-3.53%	—
Average Drawdown Average peak-to-trough decline	—	-11.07%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.30%	—

Volatility

Volatility by Period

	EEMD	ECOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.66%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.88%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	14.19%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.65%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	20.13%	—

EEMD vs. ECOW - Expense Ratio Comparison

EEMD has a 0.50% expense ratio, which is lower than ECOW's 0.70% expense ratio.

Dividends

EEMD vs. ECOW - Dividend Comparison

EEMD has not paid dividends to shareholders, while ECOW's dividend yield for the trailing twelve months is around 4.60%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
EEMD AAM S&P Emerging Markets High Dividend Value ETF	0.00%	0.00%	4.03%	8.41%	7.66%	6.34%	3.84%	5.35%	4.91%	0.42%

Frequently Asked Questions

Can I hold both EEMD and ECOW in my portfolio?

EEMD and ECOW have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, EEMD or ECOW?

On fees, EEMD is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, EEMD or ECOW?

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

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

ECOW has the higher dividend yield at 4.60%, compared with 0.00% for EEMD.

What is the main difference between EEMD and ECOW?

EEMD tracks S&P Emerging Markets Dividend and Free Cash Flow Yield, while ECOW tracks Pacer Emerging Markets Cash Cows 100 Index. They also come from different issuers: Advisors Asset Management and Pacer. Their fees differ too: 0.50% for EEMD and 0.70% for ECOW.