FEM vs. ECOW
Compare and contrast key facts about First Trust Emerging Markets AlphaDEX Fund (FEM) and Pacer Emerging Markets Cash Cows 100 ETF (ECOW).
FEM and ECOW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FEM is a passively managed fund by First Trust that tracks the performance of the NASDAQ AlphaDEX EM Index. It was launched on Apr 18, 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. Both FEM 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
FEM vs. ECOW - Performance Comparison
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FEM vs. ECOW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
FEM First Trust Emerging Markets AlphaDEX Fund | 9.64% | 28.36% | 3.01% | 10.84% | -14.24% | 7.40% | -1.68% | 12.48% |
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
The year-to-date returns for both stocks are quite close, with FEM having a 9.64% return and ECOW slightly lower at 9.29%.
FEM
- 1D
- 1.40%
- 1M
- -4.37%
- YTD
- 9.64%
- 6M
- 11.51%
- 1Y
- 35.39%
- 3Y*
- 16.74%
- 5Y*
- 6.92%
- 10Y*
- 8.47%
ECOW
- 1D
- 2.44%
- 1M
- -4.14%
- YTD
- 9.29%
- 6M
- 12.97%
- 1Y
- 37.65%
- 3Y*
- 18.71%
- 5Y*
- 6.93%
- 10Y*
- —
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FEM vs. ECOW - Expense Ratio Comparison
FEM has a 0.80% expense ratio, which is higher than ECOW's 0.70% expense ratio.
Return for Risk
FEM vs. ECOW — Risk / Return Rank
FEM
ECOW
FEM vs. ECOW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Emerging Markets AlphaDEX Fund (FEM) 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.
| FEM | ECOW | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.85 | 2.28 | -0.43 |
Sortino ratioReturn per unit of downside risk | 2.34 | 2.87 | -0.53 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.46 | -0.10 |
Calmar ratioReturn relative to maximum drawdown | 2.66 | 2.85 | -0.20 |
Martin ratioReturn relative to average drawdown | 12.54 | 14.23 | -1.69 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FEM | ECOW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.85 | 2.28 | -0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | 0.39 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.41 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.36 | -0.19 |
Correlation
The correlation between FEM and ECOW is 0.75, 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
FEM vs. ECOW - Dividend Comparison
FEM's dividend yield for the trailing twelve months is around 2.84%, less than ECOW's 4.76% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FEM First Trust Emerging Markets AlphaDEX Fund | 2.84% | 3.13% | 3.66% | 4.96% | 6.15% | 4.15% | 2.68% | 3.31% | 3.52% | 2.45% | 2.25% | 3.61% |
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
FEM vs. ECOW - Drawdown Comparison
The maximum FEM drawdown since its inception was -46.23%, which is greater than ECOW's maximum drawdown of -40.27%. Use the drawdown chart below to compare losses from any high point for FEM and ECOW.
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Drawdown Indicators
| FEM | ECOW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.23% | -40.27% | -5.96% |
Max Drawdown (1Y)Largest decline over 1 year | -13.19% | -13.09% | -0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -31.72% | -33.67% | +1.95% |
Max Drawdown (10Y)Largest decline over 10 years | -46.23% | — | — |
Current DrawdownCurrent decline from peak | -5.40% | -4.82% | -0.58% |
Average DrawdownAverage peak-to-trough decline | -15.20% | -11.29% | -3.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.79% | 2.63% | +0.16% |
Volatility
FEM vs. ECOW - Volatility Comparison
First Trust Emerging Markets AlphaDEX Fund (FEM) has a higher volatility of 8.51% compared to Pacer Emerging Markets Cash Cows 100 ETF (ECOW) at 7.25%. This indicates that FEM'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
| FEM | ECOW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.51% | 7.25% | +1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 13.64% | 11.25% | +2.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.24% | 16.60% | +2.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.21% | 17.66% | +0.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.95% | 20.26% | +0.69% |