GRPZ vs. CAFG

Last updated Jul 14, 2026

GRPZ (Invesco S&P Smallcap 600 GARP ETF) and CAFG (Pacer US Small Cap Cash Cows Growth Leaders ETF) are both Small Cap Growth Equities funds - GRPZ tracks the S&P SmallCap 600 GARP Index while CAFG tracks the Pacer US Small Cap Cash Cows Growth Leaders Index - Benchmark TR Gross. Both are passively managed. Over the past year, GRPZ returned 26.72% vs 36.55% for CAFG. Their correlation of 0.87 suggests significant overlap in exposure. GRPZ charges 0.35%/yr vs 0.59%/yr for CAFG.

Performance

GRPZ vs. CAFG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco S&P Smallcap 600 GARP ETF (GRPZ) and Pacer US Small Cap Cash Cows Growth Leaders ETF (CAFG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GRPZ achieves a 21.94% return, which is significantly lower than CAFG's 30.87% return.

GRPZ

• 1D: -0.11%
• 1M: 4.61%
• 6M: 15.77%
• YTD: 21.94%
• 1Y: 26.72%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CAFG

• 1D: -0.58%
• 1M: 2.78%
• 6M: 22.59%
• YTD: 30.87%
• 1Y: 36.55%
• 3Y*: 14.14%
• 5Y*: —
• 10Y*: —

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

GRPZ vs. CAFG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GRPZ Invesco S&P Smallcap 600 GARP ETF	21.94%	3.09%	4.27%
CAFG Pacer US Small Cap Cash Cows Growth Leaders ETF	30.87%	0.17%	8.30%

Correlation

The correlation between GRPZ and CAFG is 0.88, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.88
Correlation (All Time) Calculated using the full available price history since Mar 27, 2024	0.87

The correlation between GRPZ and CAFG has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.

GRPZ vs. CAFG - Sectors Allocation Comparison

Sectors	GRPZ	CAFG
Financial Services	28.3%	-
Industrials	16.1%	18.3%
Healthcare	15.8%	18.7%
Energy	12.2%	12.2%
Consumer Cyclical	11.8%	6.8%
Technology	7.6%	34.1%
Consumer Defensive	5.3%	2.9%
Basic Materials	2.3%	2.1%
Communication Services	0.8%	3.5%
Real Estate	-	-
Utilities	-	1.4%

Return for Risk

GRPZ vs. CAFG — Risk / Return Rank

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

GRPZ

GRPZ Risk / Return Rank: 60
GRPZ Sharpe Ratio Rank: 57
GRPZ Sortino Ratio Rank: 64
GRPZ Omega Ratio Rank: 53
GRPZ Calmar Ratio Rank: 70
GRPZ Martin Ratio Rank: 58

CAFG

CAFG Risk / Return Rank: 84
CAFG Sharpe Ratio Rank: 82
CAFG Sortino Ratio Rank: 83
CAFG Omega Ratio Rank: 76
CAFG Calmar Ratio Rank: 91
CAFG Martin Ratio Rank: 88

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.

GRPZ vs. CAFG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco S&P Smallcap 600 GARP ETF (GRPZ) and Pacer US Small Cap Cash Cows Growth Leaders ETF (CAFG). 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.

	GRPZ	CAFG	Difference
Sharpe ratio: Return per unit of total volatility	1.52	2.09	-0.56
Sortino ratio: Return per unit of downside risk	2.36	2.96	-0.60
Omega ratio: Gain probability vs. loss probability	1.26	1.35	-0.09
Calmar ratio: Return relative to maximum drawdown	2.82	4.51	-1.70
Martin ratio: Return relative to average drawdown	8.09	15.08	-6.99

GRPZ vs. CAFG - Sharpe Ratio Comparison

The current GRPZ Sharpe Ratio is 1.52, which is comparable to the CAFG Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of GRPZ and CAFG, 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

GRPZ vs. CAFG - Drawdown Comparison

The maximum GRPZ drawdown since its inception was -27.87%, which is greater than CAFG's maximum drawdown of -23.66%. Use the drawdown chart below to compare losses from any high point for GRPZ and CAFG.

Drawdown Indicators

	GRPZ	CAFG	Difference
Max Drawdown Largest peak-to-trough decline	-27.87%	-23.66%	-4.21%
Max Drawdown (1Y) Largest decline over 1 year	-9.53%	-8.13%	-1.40%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.66%	—
Current Drawdown Current decline from peak	-1.26%	-2.38%	+1.12%
Average Drawdown Average peak-to-trough decline	-6.71%	-5.37%	-1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.31%	2.43%	+0.88%

Volatility

GRPZ vs. CAFG - Volatility Comparison

Invesco S&P Smallcap 600 GARP ETF (GRPZ) and Pacer US Small Cap Cash Cows Growth Leaders ETF (CAFG) have volatilities of 4.18% and 4.01%, 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

	GRPZ	CAFG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.18%	4.01%	+0.17%
Volatility (6M) Calculated over the trailing 6-month period	11.75%	12.99%	-1.24%
Volatility (1Y) Calculated over the trailing 1-year period	17.64%	17.62%	+0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.91%	19.45%	+1.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.91%	19.45%	+1.46%

GRPZ vs. CAFG - Expense Ratio Comparison

GRPZ has a 0.35% expense ratio, which is lower than CAFG's 0.59% expense ratio.

Dividends

GRPZ vs. CAFG - Dividend Comparison

GRPZ's dividend yield for the trailing twelve months is around 0.89%, more than CAFG's 0.31% yield.

Position	TTM	2025	2024	2023
CAFG Pacer US Small Cap Cash Cows Growth Leaders ETF	0.31%	0.35%	0.36%	0.39%
GRPZ Invesco S&P Smallcap 600 GARP ETF	0.89%	0.97%	0.73%	0.00%

Frequently Asked Questions

Can I hold both GRPZ and CAFG in my portfolio?

GRPZ and CAFG have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GRPZ or CAFG?

GRPZ has higher volatility (4.18%) compared to CAFG (4.01%). In terms of maximum drawdown, GRPZ dropped -27.87% vs CAFG's -23.66%.

Which ETF is better, GRPZ or CAFG?

On 1-year performance, CAFG leads with 36.55% vs 26.72% for GRPZ. On fees, GRPZ is cheaper at 0.35% per year. On volatility, CAFG has been the lower-risk option at 4.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GRPZ or CAFG?

Over the 1-year period, CAFG has performed better with a 36.55% return vs 26.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GRPZ or CAFG?

GRPZ is cheaper with a 0.35% expense ratio, compared with 0.59% for CAFG.

Which ETF pays a higher dividend yield, GRPZ or CAFG?

GRPZ has the higher dividend yield at 0.89%, compared with 0.31% for CAFG.

What is the main difference between GRPZ and CAFG?

GRPZ tracks S&P SmallCap 600 GARP Index, while CAFG tracks Pacer US Small Cap Cash Cows Growth Leaders Index - Benchmark TR Gross. They also come from different issuers: Invesco and Pacer. Their fees differ too: 0.35% for GRPZ and 0.59% for CAFG.

Which has better risk-adjusted returns?

CAFG currently has the higher Sharpe Ratio (2.09 vs 1.52), 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.