GCOW vs. MDISX

Last updated Jun 4, 2026

GCOW (Pacer Global Cash Cows Dividend ETF) and MDISX (Franklin Mutual Global Discovery Fund) are both funds - GCOW is a Large Cap Value Equities fund tracking the Pacer Global Cash Cows Dividends Index, while MDISX is a Global Equities fund managed by Franklin Templeton. Over the past 10 years, GCOW returned 9.91%/yr vs 8.58%/yr for MDISX. Their correlation of 0.82 suggests significant overlap in exposure. GCOW charges 0.60%/yr vs 0.95%/yr for MDISX.

Performance

GCOW vs. MDISX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Global Cash Cows Dividend ETF (GCOW) and Franklin Mutual Global Discovery Fund (MDISX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GCOW achieves a 12.18% return, which is significantly higher than MDISX's 1.50% return. Over the past 10 years, GCOW has outperformed MDISX with an annualized return of 9.91%, while MDISX has yielded a comparatively lower 8.58% annualized return.

GCOW

• 1D: -0.56%
• 1M: 0.09%
• YTD: 12.18%
• 6M: 13.23%
• 1Y: 27.12%
• 3Y*: 17.41%
• 5Y*: 12.34%
• 10Y*: 9.91%

MDISX

• 1D: -0.15%
• 1M: 1.37%
• YTD: 1.50%
• 6M: 3.70%
• 1Y: 13.36%
• 3Y*: 14.41%
• 5Y*: 9.11%
• 10Y*: 8.58%

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

GCOW vs. MDISX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GCOW Pacer Global Cash Cows Dividend ETF	12.18%	27.34%	3.52%	13.95%	5.49%	14.58%	-4.33%	17.81%	-7.99%	20.71%
MDISX Franklin Mutual Global Discovery Fund	1.50%	23.75%	6.38%	20.48%	-4.73%	19.60%	-4.38%	24.74%	-10.86%	7.22%

Correlation

The correlation between GCOW and MDISX is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Feb 24, 2016	0.82

The correlation between GCOW and MDISX shifts across timeframes, from 0.69 (1 year) to 0.82 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

GCOW vs. MDISX — Risk / Return Rank

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

GCOW

GCOW Risk / Return Rank: 79
GCOW Sharpe Ratio Rank: 76
GCOW Sortino Ratio Rank: 79
GCOW Omega Ratio Rank: 72
GCOW Calmar Ratio Rank: 90
GCOW Martin Ratio Rank: 77

MDISX

MDISX Risk / Return Rank: 16
MDISX Sharpe Ratio Rank: 17
MDISX Sortino Ratio Rank: 16
MDISX Omega Ratio Rank: 17
MDISX Calmar Ratio Rank: 15
MDISX Martin Ratio Rank: 15

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.

GCOW vs. MDISX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Global Cash Cows Dividend ETF (GCOW) and Franklin Mutual Global Discovery Fund (MDISX). 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.

	GCOW	MDISX	Difference
Sharpe ratio: Return per unit of total volatility	2.52	1.16	+1.36
Sortino ratio: Return per unit of downside risk	3.63	1.69	+1.94
Omega ratio: Gain probability vs. loss probability	1.44	1.22	+0.22
Calmar ratio: Return relative to maximum drawdown	5.71	1.37	+4.35
Martin ratio: Return relative to average drawdown	15.05	4.23	+10.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GCOW vs. MDISX - Sharpe Ratio Comparison

The current GCOW Sharpe Ratio is 2.52, which is higher than the MDISX Sharpe Ratio of 1.16. The chart below compares the historical Sharpe Ratios of GCOW and MDISX, 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

	GCOW	MDISX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.52	1.16	+1.36
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.92	0.58	+0.34
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.50	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.81	-0.23

Drawdowns

GCOW vs. MDISX - Drawdown Comparison

The maximum GCOW drawdown since its inception was -37.64%, smaller than the maximum MDISX drawdown of -40.15%. Use the drawdown chart below to compare losses from any high point for GCOW and MDISX.

Drawdown Indicators

	GCOW	MDISX	Difference
Max Drawdown Largest peak-to-trough decline	-37.64%	-40.15%	+2.51%
Max Drawdown (1Y) Largest decline over 1 year	-4.77%	-10.09%	+5.32%
Max Drawdown (3Y) Largest decline over 3 years	-12.35%	-12.93%	+0.58%
Max Drawdown (5Y) Largest decline over 5 years	-21.48%	-21.57%	+0.09%
Max Drawdown (10Y) Largest decline over 10 years	-37.64%	-40.15%	+2.51%
Current Drawdown Current decline from peak	-2.73%	-4.23%	+1.50%
Average Drawdown Average peak-to-trough decline	-5.84%	-5.27%	-0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.81%	3.25%	-1.44%

Volatility

GCOW vs. MDISX - Volatility Comparison

The current volatility for Pacer Global Cash Cows Dividend ETF (GCOW) is 2.85%, while Franklin Mutual Global Discovery Fund (MDISX) has a volatility of 3.23%. This indicates that GCOW experiences smaller price fluctuations and is considered to be less risky than MDISX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GCOW	MDISX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	3.23%	-0.38%
Volatility (6M) Calculated over the trailing 6-month period	7.99%	9.10%	-1.11%
Volatility (1Y) Calculated over the trailing 1-year period	10.81%	11.85%	-1.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.49%	15.67%	-2.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.20%	17.11%	-0.91%

GCOW vs. MDISX - Expense Ratio Comparison

GCOW has a 0.60% expense ratio, which is lower than MDISX's 0.95% expense ratio.

Dividends

GCOW vs. MDISX - Dividend Comparison

GCOW's dividend yield for the trailing twelve months is around 4.43%, less than MDISX's 10.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GCOW Pacer Global Cash Cows Dividend ETF	4.43%	4.06%	5.14%	5.28%	4.39%	4.23%	4.12%	4.40%	3.94%	2.79%	1.95%	0.00%
MDISX Franklin Mutual Global Discovery Fund	10.40%	10.55%	12.84%	7.12%	10.29%	8.75%	3.50%	7.21%	7.50%	2.97%	4.13%	7.77%

Frequently Asked Questions

Can I hold both GCOW and MDISX in my portfolio?

GCOW and MDISX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GCOW or MDISX?

MDISX has higher volatility (3.23%) compared to GCOW (2.85%). In terms of maximum drawdown, GCOW dropped -37.64% vs MDISX's -40.15%.

Which has better risk-adjusted returns?

GCOW currently has the higher Sharpe Ratio (2.52 vs 1.16), 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.