FOWF vs. EFRA

Last updated Apr 17, 2026

FOWF (Pacer Solactive Whitney Future of Warfare ETF) and EFRA (iShares Environmental Infrastructure and Industrials ETF) are both Industrials Equities funds — FOWF tracks the Solactive Whitney Future of Warfare Index while EFRA tracks the FTSE Green Revenues Select Infrastructure and Industrials Index. Both are passively managed. Over the past year, FOWF returned 37.08% vs 24.89% for EFRA. A 0.68 correlation means they provide meaningful diversification when combined. FOWF charges 0.49%/yr vs 0.47%/yr for EFRA.

Performance

FOWF vs. EFRA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Solactive Whitney Future of Warfare ETF (FOWF) and iShares Environmental Infrastructure and Industrials ETF (EFRA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FOWF achieves a 8.81% return, which is significantly higher than EFRA's 7.80% return.

FOWF

• 1D: -0.22%
• 1M: 0.23%
• YTD: 8.81%
• 6M: 10.69%
• 1Y: 37.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

EFRA

• 1D: -0.33%
• 1M: 2.99%
• YTD: 7.80%
• 6M: 7.67%
• 1Y: 24.89%
• 3Y*: 12.47%
• 5Y*: —
• 10Y*: —

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

FOWF vs. EFRA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FOWF Pacer Solactive Whitney Future of Warfare ETF	8.81%	29.15%	0.39%
EFRA iShares Environmental Infrastructure and Industrials ETF	7.80%	13.76%	-0.15%

Correlation

The correlation between FOWF and EFRA 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 (1Y) Calculated over the trailing 1-year period	0.62
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024	0.68

The correlation between FOWF and EFRA has been stable across timeframes, ranging from 0.62 to 0.68 — a consistent structural relationship.

Return for Risk

FOWF vs. EFRA — Risk / Return Rank

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

FOWF

FOWF Risk / Return Rank: 72
FOWF Sharpe Ratio Rank: 77
FOWF Sortino Ratio Rank: 81
FOWF Omega Ratio Rank: 72
FOWF Calmar Ratio Rank: 64
FOWF Martin Ratio Rank: 66

EFRA

EFRA Risk / Return Rank: 39
EFRA Sharpe Ratio Rank: 42
EFRA Sortino Ratio Rank: 43
EFRA Omega Ratio Rank: 40
EFRA Calmar Ratio Rank: 33
EFRA 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.

FOWF vs. EFRA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Solactive Whitney Future of Warfare ETF (FOWF) and iShares Environmental Infrastructure and Industrials ETF (EFRA). 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.

	FOWF	EFRA	Difference
Sharpe ratio Return per unit of total volatility	2.77	1.83	+0.94
Sortino ratio Return per unit of downside risk	4.02	2.64	+1.38
Omega ratio Gain probability vs. loss probability	1.48	1.32	+0.16
Calmar ratio Return relative to maximum drawdown	3.62	2.18	+1.44
Martin ratio Return relative to average drawdown	13.92	7.86	+6.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FOWF vs. EFRA - Sharpe Ratio Comparison

The current FOWF Sharpe Ratio is 2.77, which is higher than the EFRA Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of FOWF and EFRA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FOWF	EFRA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.77	1.83	+0.94
Sharpe Ratio (All Time) Calculated using the full available price history	1.77	0.99	+0.78

Drawdowns

FOWF vs. EFRA - Drawdown Comparison

The maximum FOWF drawdown since its inception was -12.29%, smaller than the maximum EFRA drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for FOWF and EFRA.

Drawdown Indicators

	FOWF	EFRA	Difference
Max Drawdown Largest peak-to-trough decline	-12.29%	-16.25%	+3.96%
Max Drawdown (1Y) Largest decline over 1 year	-10.08%	-11.20%	+1.12%
Current Drawdown Current decline from peak	-3.37%	-4.47%	+1.10%
Average Drawdown Average peak-to-trough decline	-1.80%	-3.54%	+1.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	3.11%	-0.49%

Volatility

FOWF vs. EFRA - Volatility Comparison

Pacer Solactive Whitney Future of Warfare ETF (FOWF) and iShares Environmental Infrastructure and Industrials ETF (EFRA) have volatilities of 6.53% and 6.54%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOWF	EFRA	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.53%	6.54%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	11.06%	10.76%	+0.30%
Volatility (1Y) Calculated over the trailing 1-year period	13.54%	13.73%	-0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.99%	15.52%	+1.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.99%	15.52%	+1.47%

FOWF vs. EFRA - Expense Ratio Comparison

FOWF has a 0.49% expense ratio, which is higher than EFRA's 0.47% expense ratio.

Dividends

FOWF vs. EFRA - Dividend Comparison

FOWF's dividend yield for the trailing twelve months is around 0.73%, less than EFRA's 4.02% yield.

	TTM	2025	2024	2023	2022
FOWF Pacer Solactive Whitney Future of Warfare ETF	0.73%	0.79%	0.00%	0.00%	0.00%
EFRA iShares Environmental Infrastructure and Industrials ETF	4.02%	4.34%	3.79%	1.85%	0.14%