FOWF vs. HVAC

Last updated Aug 2, 2026

FOWF (Pacer Solactive Whitney Future of Warfare ETF) and HVAC (AdvisorShares HVAC and Industrials ETF) are both Industrials Equities funds. FOWF is passively managed, while HVAC is actively managed. Over the past year, FOWF returned 21.09% vs 16.45% for HVAC. Their 0.53 correlation means they have sometimes moved together and sometimes differently. FOWF charges 0.49%/yr vs 1.00%/yr for HVAC.

Performance

FOWF vs. HVAC - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with FOWF having a 13.73% return and HVAC slightly lower at 13.64%.

FOWF

• 1D: 0.90%
• 1M: 2.66%
• 6M: 5.55%
• YTD: 13.73%
• 1Y: 21.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 25.28%

HVAC

• 1D: 1.41%
• 1M: -8.00%
• 6M: 2.87%
• YTD: 13.64%
• 1Y: 16.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 25.42%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FOWF Pacer Solactive Whitney Future of Warfare ETF	$26.08K	$101.42K	$97.71K
HVAC AdvisorShares HVAC and Industrials ETF	$307.98K	$326.35K	$430.75K

FOWF vs. HVAC - Yearly Performance Comparison

	2026 (YTD)	2025
FOWF Pacer Solactive Whitney Future of Warfare ETF	13.73%	25.32%
HVAC AdvisorShares HVAC and Industrials ETF	13.64%	23.15%

Correlation

The correlation between FOWF and HVAC is 0.47, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.47
Correlation (All Time) Calculated using the full available price history since Feb 4, 2025	0.53

The correlation between FOWF and HVAC has been stable across timeframes, ranging from 0.47 to 0.53 - a consistent structural relationship.

FOWF vs. HVAC - Sectors Allocation Comparison

Sectors	FOWF	HVAC
Industrials	60.9%	75.1%
Technology	30.9%	19.2%
Communication Services	5.0%	-
Basic Materials	1.9%	-
Consumer Cyclical	1.2%	3.2%
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	2.5%
Utilities	-	5.0%

Return for Risk

FOWF vs. HVAC — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FOWF

FOWF Risk / Return Rank: 55
FOWF Sharpe Ratio Rank: 57
FOWF Sortino Ratio Rank: 61
FOWF Omega Ratio Rank: 52
FOWF Calmar Ratio Rank: 56
FOWF Martin Ratio Rank: 51

HVAC

HVAC Risk / Return Rank: 23
HVAC Sharpe Ratio Rank: 22
HVAC Sortino Ratio Rank: 22
HVAC Omega Ratio Rank: 23
HVAC Calmar Ratio Rank: 22
HVAC Martin Ratio Rank: 28

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FOWF vs. HVAC - Risk-Adjusted Trends Comparison

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

	FOWF	HVAC	Difference
Sharpe ratio: Return per unit of total volatility	1.37	0.46	+0.91
Sortino ratio: Return per unit of downside risk	2.07	0.83	+1.25
Omega ratio: Gain probability vs. loss probability	1.24	1.11	+0.13
Calmar ratio: Return relative to maximum drawdown	2.00	0.63	+1.37
Martin ratio: Return relative to average drawdown	5.95	2.46	+3.48

FOWF vs. HVAC - Sharpe Ratio Comparison

The current FOWF Sharpe Ratio is 1.37, which is higher than the HVAC Sharpe Ratio of 0.46. The chart below compares the historical Sharpe Ratios of FOWF and HVAC, 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

FOWF vs. HVAC - Drawdown Comparison

The maximum FOWF drawdown since its inception was -12.29%, smaller than the maximum HVAC drawdown of -24.72%. Use the drawdown chart below to compare losses from any high point for FOWF and HVAC.

Drawdown Indicators

	FOWF	HVAC	Difference
Max Drawdown Largest peak-to-trough decline	-12.29%	-24.72%	+12.43%
Max Drawdown (1Y) Largest decline over 1 year	-10.08%	-24.72%	+14.64%
Current Drawdown Current decline from peak	0.00%	-18.56%	+18.56%
Average Drawdown Average peak-to-trough decline	-2.15%	-4.62%	+2.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.38%	6.31%	-2.93%

Volatility

FOWF vs. HVAC - Volatility Comparison

The current volatility for Pacer Solactive Whitney Future of Warfare ETF (FOWF) is 4.06%, while AdvisorShares HVAC and Industrials ETF (HVAC) has a volatility of 13.93%. This indicates that FOWF experiences smaller price fluctuations and is considered to be less risky than HVAC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FOWF	HVAC	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.06%	13.93%	-9.87%
Volatility (6M) Calculated over the trailing 6-month period	11.93%	29.17%	-17.24%
Volatility (1Y) Calculated over the trailing 1-year period	14.72%	33.51%	-18.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.79%	32.38%	-15.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.79%	32.38%	-15.59%

FOWF vs. HVAC - Expense Ratio Comparison

FOWF has a 0.49% expense ratio, which is lower than HVAC's 1.00% expense ratio.

Dividends

FOWF vs. HVAC - Dividend Comparison

FOWF's dividend yield for the trailing twelve months is around 0.73%, more than HVAC's 0.17% yield.

Position	TTM	2025
FOWF Pacer Solactive Whitney Future of Warfare ETF	0.73%	0.79%
HVAC AdvisorShares HVAC and Industrials ETF	0.17%	0.19%

Frequently Asked Questions

Can I hold both FOWF and HVAC in my portfolio?

FOWF and HVAC have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FOWF or HVAC?

HVAC has higher volatility (13.93%) compared to FOWF (4.06%). In terms of maximum drawdown, FOWF dropped -12.29% vs HVAC's -24.72%.

Which ETF is better, FOWF or HVAC?

On 1-year performance, FOWF leads with 21.09% vs 16.45% for HVAC. On fees, FOWF is cheaper at 0.49% per year. On volatility, FOWF has been the lower-risk option at 4.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FOWF or HVAC?

Over the 1-year period, FOWF has performed better with a 21.09% return vs 16.45%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FOWF or HVAC?

FOWF is cheaper with a 0.49% expense ratio, compared with 1.00% for HVAC.

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

FOWF has the higher dividend yield at 0.73%, compared with 0.17% for HVAC.

What is the main difference between FOWF and HVAC?

They also come from different issuers: Pacer and AdvisorShares. Their fees differ too: 0.49% for FOWF and 1.00% for HVAC.

Which has better risk-adjusted returns?

FOWF currently has the higher Sharpe Ratio (1.37 vs 0.46), 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.