EUAD vs. FOWF

Last updated Jul 17, 2026

EUAD (Select STOXX Europe Aerospace & Defense ETF) and FOWF (Pacer Solactive Whitney Future of Warfare ETF) are both exchange-traded funds - EUAD is a Aerospace & Defense fund tracking the STOXX Europe Total Market Aerospace & Defense Index, while FOWF is a Industrials Equities fund tracking the Solactive Whitney Future of Warfare Index. Both are passively managed. Over the past year, EUAD returned -2.80% vs 14.79% for FOWF. A 0.60 correlation means they provide meaningful diversification when combined. EUAD charges 0.50%/yr vs 0.49%/yr for FOWF.

Performance

EUAD vs. FOWF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Select STOXX Europe Aerospace & Defense ETF (EUAD) and Pacer Solactive Whitney Future of Warfare ETF (FOWF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EUAD achieves a -2.04% return, which is significantly lower than FOWF's 8.60% return.

EUAD

• 1D: -0.96%
• 1M: -1.83%
• 6M: -12.79%
• YTD: -2.04%
• 1Y: -2.80%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FOWF

• 1D: -0.29%
• 1M: -1.76%
• 6M: 0.54%
• YTD: 8.60%
• 1Y: 14.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EUAD vs. FOWF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
EUAD Select STOXX Europe Aerospace & Defense ETF	-2.04%	74.51%	-2.53%
FOWF Pacer Solactive Whitney Future of Warfare ETF	8.60%	29.15%	-2.02%

Correlation

The correlation between EUAD and FOWF is 0.66, 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	0.66
Correlation (All Time) Calculated using the full available price history since Dec 18, 2024	0.60

The correlation between EUAD and FOWF has been stable across timeframes, ranging from 0.60 to 0.66 - a consistent structural relationship.

EUAD vs. FOWF - Sectors Allocation Comparison

Sectors	EUAD	FOWF
Industrials	99.5%	60.1%
Healthcare	0.1%	-
Basic Materials	-	1.9%
Communication Services	-	5.5%
Consumer Cyclical	-	1.3%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Real Estate	-	-
Technology	-	31.2%
Utilities	-	-

Return for Risk

EUAD vs. FOWF — Risk / Return Rank

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

EUAD

EUAD Risk / Return Rank: 8
EUAD Sharpe Ratio Rank: 8
EUAD Sortino Ratio Rank: 8
EUAD Omega Ratio Rank: 8
EUAD Calmar Ratio Rank: 8
EUAD Martin Ratio Rank: 8

FOWF

FOWF Risk / Return Rank: 34
FOWF Sharpe Ratio Rank: 34
FOWF Sortino Ratio Rank: 36
FOWF Omega Ratio Rank: 31
FOWF Calmar Ratio Rank: 35
FOWF Martin Ratio Rank: 36

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.

EUAD vs. FOWF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Select STOXX Europe Aerospace & Defense ETF (EUAD) and Pacer Solactive Whitney Future of Warfare ETF (FOWF). 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.

	EUAD	FOWF	Difference
Sharpe ratio: Return per unit of total volatility	-0.10	1.02	-1.11
Sortino ratio: Return per unit of downside risk	0.07	1.59	-1.52
Omega ratio: Gain probability vs. loss probability	1.01	1.18	-0.17
Calmar ratio: Return relative to maximum drawdown	-0.13	1.47	-1.60
Martin ratio: Return relative to average drawdown	-0.28	4.42	-4.69

EUAD vs. FOWF - Sharpe Ratio Comparison

The current EUAD Sharpe Ratio is -0.10, which is lower than the FOWF Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of EUAD and FOWF, 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

EUAD vs. FOWF - Drawdown Comparison

The maximum EUAD drawdown since its inception was -22.04%, which is greater than FOWF's maximum drawdown of -12.29%. Use the drawdown chart below to compare losses from any high point for EUAD and FOWF.

Drawdown Indicators

	EUAD	FOWF	Difference
Max Drawdown Largest peak-to-trough decline	-22.04%	-12.29%	-9.75%
Max Drawdown (1Y) Largest decline over 1 year	-22.04%	-10.08%	-11.96%
Current Drawdown Current decline from peak	-14.52%	-3.56%	-10.96%
Average Drawdown Average peak-to-trough decline	-6.21%	-2.16%	-4.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.06%	3.36%	+6.70%

Volatility

EUAD vs. FOWF - Volatility Comparison

Select STOXX Europe Aerospace & Defense ETF (EUAD) has a higher volatility of 7.30% compared to Pacer Solactive Whitney Future of Warfare ETF (FOWF) at 3.70%. This indicates that EUAD's price experiences larger fluctuations and is considered to be riskier than FOWF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EUAD	FOWF	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.30%	3.70%	+3.60%
Volatility (6M) Calculated over the trailing 6-month period	24.40%	11.83%	+12.57%
Volatility (1Y) Calculated over the trailing 1-year period	29.25%	14.60%	+14.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	29.65%	16.86%	+12.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.65%	16.86%	+12.79%

EUAD vs. FOWF - Expense Ratio Comparison

EUAD has a 0.50% expense ratio, which is higher than FOWF's 0.49% expense ratio.

Dividends

EUAD vs. FOWF - Dividend Comparison

EUAD's dividend yield for the trailing twelve months is around 0.41%, less than FOWF's 0.76% yield.

Position	TTM	2025	2024
EUAD Select STOXX Europe Aerospace & Defense ETF	0.41%	0.40%	0.10%
FOWF Pacer Solactive Whitney Future of Warfare ETF	0.76%	0.79%	0.00%

Frequently Asked Questions

Can I hold both EUAD and FOWF in my portfolio?

EUAD and FOWF have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EUAD or FOWF?

EUAD has higher volatility (7.30%) compared to FOWF (3.70%). In terms of maximum drawdown, EUAD dropped -22.04% vs FOWF's -12.29%.

Which ETF is better, EUAD or FOWF?

On 1-year performance, FOWF leads with 14.79% vs -2.80% for EUAD. On fees, FOWF is cheaper at 0.49% per year. On volatility, FOWF has been the lower-risk option at 3.70%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EUAD or FOWF?

Over the 1-year period, FOWF has performed better with a 14.79% return vs -2.80%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EUAD or FOWF?

FOWF is cheaper with a 0.49% expense ratio, compared with 0.50% for EUAD.

Which ETF pays a higher dividend yield, EUAD or FOWF?

FOWF has the higher dividend yield at 0.76%, compared with 0.41% for EUAD.

What is the main difference between EUAD and FOWF?

EUAD is categorized as Aerospace & Defense, while FOWF is Industrials Equities. EUAD tracks STOXX Europe Total Market Aerospace & Defense Index, while FOWF tracks Solactive Whitney Future of Warfare Index. They also come from different issuers: Select Funds and Pacer. Their fees differ too: 0.50% for EUAD and 0.49% for FOWF.

Which has better risk-adjusted returns?

FOWF currently has the higher Sharpe Ratio (1.02 vs -0.10), 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.