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FEDDX vs. ECOW
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FEDDX vs. ECOW

Last updated Apr 1, 2026

Compare and contrast key facts about Fidelity Emerging Markets Discovery Fund (FEDDX) and Pacer Emerging Markets Cash Cows 100 ETF (ECOW).

FEDDX is managed by Fidelity. It was launched on Nov 1, 2011. 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.

Performance

FEDDX vs. ECOW - Performance Comparison

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

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FEDDX vs. ECOW - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
FEDDX
Fidelity Emerging Markets Discovery Fund		4.17%31.90%-3.68%20.76%-11.83%6.65%16.96%9.00%
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, FEDDX achieves a 4.17% return, which is significantly lower than ECOW's 9.29% return.

FEDDX

1D
-0.74%
1M
-9.17%
YTD
4.17%
6M
10.32%
1Y
35.27%
3Y*
14.96%
5Y*
7.72%
10Y*
9.53%

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)

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Fidelity Emerging Markets Discovery Fund

Pacer Emerging Markets Cash Cows 100 ETF

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Often compared with ECOW:
ECOW vs. EYLDECOW vs. MOTIECOW vs. EEMSECOW vs. DFEVXECOW vs. COWZECOW vs. DEMECOW vs. VOO

FEDDX vs. ECOW - Expense Ratio Comparison

FEDDX has a 1.19% expense ratio, which is higher than ECOW's 0.70% expense ratio.

FEDDX
Fidelity Emerging Markets Discovery Fund
ECOW
Pacer Emerging Markets Cash Cows 100 ETF

Return for Risk

FEDDX vs. ECOW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FEDDX
FEDDX Risk / Return Rank: 9494
Overall Rank
FEDDX Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
FEDDX Sortino Ratio Rank: 9494
Sortino Ratio Rank
FEDDX Omega Ratio Rank: 9393
Omega Ratio Rank
FEDDX Calmar Ratio Rank: 9595
Calmar Ratio Rank
FEDDX Martin Ratio Rank: 9494
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.

FEDDX vs. ECOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Emerging Markets Discovery Fund (FEDDX) 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.

FEDDXECOWDifference

Sharpe ratio

Return per unit of total volatility

2.39

2.28

+0.11

Sortino ratio

Return per unit of downside risk

2.99

2.87

+0.12

Omega ratio

Gain probability vs. loss probability

1.45

1.46

0.00

Calmar ratio

Return relative to maximum drawdown

3.20

2.85

+0.34

Martin ratio

Return relative to average drawdown

12.68

14.23

-1.55

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

FEDDX vs. ECOW - Sharpe Ratio Comparison

The current FEDDX Sharpe Ratio is 2.39, which is comparable to the ECOW Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of FEDDX 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

FEDDXECOWDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.39

2.28

+0.11

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.55

0.39

+0.16

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.61

—

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

0.36

+0.16

Correlation

The correlation between FEDDX and ECOW is 0.69, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

FEDDX vs. ECOW - Dividend Comparison

FEDDX's dividend yield for the trailing twelve months is around 4.47%, less than ECOW's 4.76% yield.

TTM20252024202320222021202020192018201720162015
FEDDX
Fidelity Emerging Markets Discovery Fund		4.46%4.65%3.99%2.05%1.69%11.90%0.59%1.05%1.88%1.50%1.36%0.81%
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%0.00%

Drawdowns

FEDDX vs. ECOW - Drawdown Comparison

The maximum FEDDX drawdown since its inception was -42.95%, which is greater than ECOW's maximum drawdown of -40.27%. Use the drawdown chart below to compare losses from any high point for FEDDX and ECOW.

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Drawdown Indicators

FEDDXECOWDifference

Max Drawdown

Largest peak-to-trough decline

-42.95%

-40.27%

-2.68%

Max Drawdown (1Y)

Largest decline over 1 year

-9.94%

-13.09%

+3.15%

Max Drawdown (5Y)

Largest decline over 5 years

-27.45%

-33.67%

+6.22%

Max Drawdown (10Y)

Largest decline over 10 years

-42.95%

—

—

Current Drawdown

Current decline from peak

-9.54%

-4.82%

-4.72%

Average Drawdown

Average peak-to-trough decline

-8.86%

-11.29%

+2.43%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.51%

2.63%

-0.12%

Volatility

FEDDX vs. ECOW - Volatility Comparison

The current volatility for Fidelity Emerging Markets Discovery Fund (FEDDX) is 6.44%, while Pacer Emerging Markets Cash Cows 100 ETF (ECOW) has a volatility of 7.25%. This indicates that FEDDX experiences smaller price fluctuations and is considered to be less risky 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

FEDDXECOWDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.44%

7.25%

-0.81%

Volatility (6M)

Calculated over the trailing 6-month period

9.73%

11.25%

-1.52%

Volatility (1Y)

Calculated over the trailing 1-year period

14.37%

16.60%

-2.23%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

13.98%

17.66%

-3.68%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.65%

20.26%

-4.61%