FOWF vs. ICOW
FOWF (Pacer Solactive Whitney Future of Warfare ETF) and ICOW (Pacer Developed Markets International Cash Cows 100 ETF) are both exchange-traded funds — FOWF is a Industrials Equities fund tracking the Solactive Whitney Future of Warfare Index, while ICOW is a Foreign Large Cap Equities fund tracking the Pacer Developed Markets International Cash Cows 100 Index. Both are passively managed. Over the past year, FOWF returned 37.08% vs 47.46% for ICOW. A 0.52 correlation means they provide meaningful diversification when combined. FOWF charges 0.49%/yr vs 0.65%/yr for ICOW.
Performance
FOWF vs. ICOW - Performance Comparison
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Returns By Period
In the year-to-date period, FOWF achieves a 8.81% return, which is significantly lower than ICOW's 14.24% return.
FOWF
- 1D
- -0.22%
- 1M
- 0.23%
- YTD
- 8.81%
- 6M
- 10.69%
- 1Y
- 37.08%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ICOW
- 1D
- 0.27%
- 1M
- 4.82%
- YTD
- 14.24%
- 6M
- 20.36%
- 1Y
- 47.46%
- 3Y*
- 17.18%
- 5Y*
- 10.45%
- 10Y*
- —
FOWF vs. ICOW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
FOWF Pacer Solactive Whitney Future of Warfare ETF | 8.81% | 29.15% | 0.39% |
ICOW Pacer Developed Markets International Cash Cows 100 ETF | 14.24% | 36.95% | 1.35% |
Correlation
The correlation between FOWF and ICOW is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2024 | 0.52 |
The correlation between FOWF and ICOW has been stable across timeframes, ranging from 0.47 to 0.52 — a consistent structural relationship.
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Return for Risk
FOWF vs. ICOW — Risk / Return Rank
FOWF
ICOW
FOWF vs. ICOW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pacer Solactive Whitney Future of Warfare ETF (FOWF) and Pacer Developed Markets International Cash Cows 100 ETF (ICOW). 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 | ICOW | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.77 | 3.64 | -0.87 |
Sortino ratioReturn per unit of downside risk | 4.02 | 4.60 | -0.58 |
Omega ratioGain probability vs. loss probability | 1.48 | 1.65 | -0.17 |
Calmar ratioReturn relative to maximum drawdown | 3.62 | 6.16 | -2.54 |
Martin ratioReturn relative to average drawdown | 13.92 | 22.69 | -8.77 |
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
| FOWF | ICOW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.77 | 3.64 | -0.87 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.77 | 0.54 | +1.23 |
Drawdowns
FOWF vs. ICOW - Drawdown Comparison
The maximum FOWF drawdown since its inception was -12.29%, smaller than the maximum ICOW drawdown of -43.49%. Use the drawdown chart below to compare losses from any high point for FOWF and ICOW.
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Drawdown Indicators
| FOWF | ICOW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.29% | -43.49% | +31.20% |
Max Drawdown (1Y)Largest decline over 1 year | -10.08% | -8.02% | -2.06% |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.48% | — |
Current DrawdownCurrent decline from peak | -3.37% | -1.30% | -2.07% |
Average DrawdownAverage peak-to-trough decline | -1.80% | -7.68% | +5.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.62% | 2.18% | +0.44% |
Volatility
FOWF vs. ICOW - Volatility Comparison
Pacer Solactive Whitney Future of Warfare ETF (FOWF) has a higher volatility of 6.53% compared to Pacer Developed Markets International Cash Cows 100 ETF (ICOW) at 4.80%. This indicates that FOWF's price experiences larger fluctuations and is considered to be riskier than ICOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FOWF | ICOW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.53% | 4.80% | +1.73% |
Volatility (6M)Calculated over the trailing 6-month period | 11.06% | 10.17% | +0.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.54% | 13.21% | +0.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.99% | 16.57% | +0.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.99% | 18.50% | -1.51% |
FOWF vs. ICOW - Expense Ratio Comparison
FOWF has a 0.49% expense ratio, which is lower than ICOW's 0.65% expense ratio.
Dividends
FOWF vs. ICOW - Dividend Comparison
FOWF's dividend yield for the trailing twelve months is around 0.73%, less than ICOW's 2.18% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FOWF Pacer Solactive Whitney Future of Warfare ETF | 0.73% | 0.79% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ICOW Pacer Developed Markets International Cash Cows 100 ETF | 2.18% | 3.03% | 4.39% | 3.61% | 5.26% | 2.11% | 2.46% | 3.10% | 2.61% | 0.80% |