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EMGF vs. ECOW
Performance
Return for Risk
Dividends
Drawdowns
Volatility

EMGF vs. ECOW

Last updated Apr 1, 2026

Compare and contrast key facts about iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) and Pacer Emerging Markets Cash Cows 100 ETF (ECOW).

EMGF and ECOW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. EMGF is a passively managed fund by iShares that tracks the performance of the MSCI Emerging Markets Diversified Multiple-Factor Index. It was launched on Dec 8, 2015. ECOW is a passively managed fund by Pacer that tracks the performance of the Pacer Emerging Markets Cash Cows 100 Index. It was launched on May 2, 2019. Both EMGF and ECOW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

EMGF vs. ECOW - Performance Comparison

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

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EMGF vs. ECOW - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
EMGF
iShares Edge MSCI Multifactor Emerging Markets ETF		4.46%31.41%9.06%10.86%-16.55%6.65%10.27%9.82%
ECOW
Pacer Emerging Markets Cash Cows 100 ETF		9.29%32.50%3.17%15.79%-19.28%7.47%-2.51%10.37%

Returns By Period

In the year-to-date period, EMGF achieves a 4.46% return, which is significantly lower than ECOW's 9.29% return.

EMGF

1D
3.78%
1M
-9.16%
YTD
4.46%
6M
8.38%
1Y
32.72%
3Y*
17.94%
5Y*
6.70%
10Y*
8.81%

ECOW

1D
2.44%
1M
-4.14%
YTD
9.29%
6M
12.97%
1Y
37.65%
3Y*
18.71%
5Y*
6.93%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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

iShares Edge MSCI Multifactor Emerging Markets ETF

Pacer Emerging Markets Cash Cows 100 ETF

Often compared with EMGF:
EMGF vs. AVESEMGF vs. SPEMEMGF vs. EEMEMGF vs. FDEMEMGF vs. VWOEMGF vs. XCEMEMGF vs. VXUS
Often compared with ECOW:
ECOW vs. EYLDECOW vs. MOTIECOW vs. EEMSECOW vs. FEDDXECOW vs. DFEVXECOW vs. COWZECOW vs. DEM

EMGF vs. ECOW - Expense Ratio Comparison

EMGF has a 0.45% expense ratio, which is lower than ECOW's 0.70% expense ratio.

ECOW
Pacer Emerging Markets Cash Cows 100 ETF
EMGF
iShares Edge MSCI Multifactor Emerging Markets ETF

Return for Risk

EMGF vs. ECOW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
EMGF
EMGF Risk / Return Rank: 8484
Overall Rank
EMGF Sharpe Ratio Rank: 8484
Sharpe Ratio Rank
EMGF Sortino Ratio Rank: 8585
Sortino Ratio Rank
EMGF Omega Ratio Rank: 8484
Omega Ratio Rank
EMGF Calmar Ratio Rank: 8484
Calmar Ratio Rank
EMGF Martin Ratio Rank: 8484
Martin Ratio Rank
ECOW
ECOW Risk / Return Rank: 9393
Overall Rank
ECOW Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
ECOW Sortino Ratio Rank: 9494
Sortino Ratio Rank
ECOW Omega Ratio Rank: 9595
Omega Ratio Rank
ECOW Calmar Ratio Rank: 8989
Calmar Ratio Rank
ECOW Martin Ratio Rank: 9494
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.

EMGF vs. ECOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) 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.

EMGFECOWDifference

Sharpe ratio

Return per unit of total volatility

1.65

2.28

-0.63

Sortino ratio

Return per unit of downside risk

2.23

2.87

-0.64

Omega ratio

Gain probability vs. loss probability

1.32

1.46

-0.13

Calmar ratio

Return relative to maximum drawdown

2.40

2.85

-0.46

Martin ratio

Return relative to average drawdown

9.27

14.23

-4.96

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EMGF vs. ECOW - Sharpe Ratio Comparison

The current EMGF Sharpe Ratio is 1.65, which is comparable to the ECOW Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of EMGF and ECOW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

EMGFECOWDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.65

2.28

-0.63

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.39

0.39

0.00

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.46

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.46

0.36

+0.11

Correlation

The correlation between EMGF and ECOW is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

EMGF vs. ECOW - Dividend Comparison

EMGF's dividend yield for the trailing twelve months is around 2.41%, less than ECOW's 4.76% yield.

TTM2025202420232022202120202019201820172016
EMGF
iShares Edge MSCI Multifactor Emerging Markets ETF		2.41%2.52%3.42%5.94%4.04%2.48%1.95%2.63%2.73%1.94%2.04%
ECOW
Pacer Emerging Markets Cash Cows 100 ETF		4.76%5.20%7.35%5.46%7.50%4.39%3.35%8.08%0.00%0.00%0.00%

Drawdowns

EMGF vs. ECOW - Drawdown Comparison

The maximum EMGF drawdown since its inception was -40.23%, roughly equal to the maximum ECOW drawdown of -40.27%. Use the drawdown chart below to compare losses from any high point for EMGF and ECOW.

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Drawdown Indicators

EMGFECOWDifference

Max Drawdown

Largest peak-to-trough decline

-40.23%

-40.27%

+0.04%

Max Drawdown (1Y)

Largest decline over 1 year

-13.54%

-13.09%

-0.45%

Max Drawdown (5Y)

Largest decline over 5 years

-28.60%

-33.67%

+5.07%

Max Drawdown (10Y)

Largest decline over 10 years

-40.23%

—

—

Current Drawdown

Current decline from peak

-10.27%

-4.82%

-5.45%

Average Drawdown

Average peak-to-trough decline

-10.19%

-11.29%

+1.10%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.50%

2.63%

+0.87%

Volatility

EMGF vs. ECOW - Volatility Comparison

iShares Edge MSCI Multifactor Emerging Markets ETF (EMGF) has a higher volatility of 10.58% compared to Pacer Emerging Markets Cash Cows 100 ETF (ECOW) at 7.25%. This indicates that EMGF's price experiences larger fluctuations and is considered to be riskier than ECOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

EMGFECOWDifference

Volatility (1M)

Calculated over the trailing 1-month period

10.58%

7.25%

+3.33%

Volatility (6M)

Calculated over the trailing 6-month period

14.81%

11.25%

+3.56%

Volatility (1Y)

Calculated over the trailing 1-year period

19.90%

16.60%

+3.30%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.08%

17.66%

-0.58%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

19.23%

20.26%

-1.03%