HERD vs. ACWV

Last updated Jul 15, 2026

HERD (Pacer Cash Cows Fund of Funds ETF) and ACWV (iShares MSCI Global Min Vol Factor ETF) are both Global Equities funds - HERD tracks the Pacer Cash Cows Fund of Funds Index while ACWV tracks the MSCI ACWI Minimum Volatility Index. Both are passively managed. Over the past 5 years, HERD returned 9.95%/yr vs 5.39%/yr for ACWV. A 0.57 correlation means they provide meaningful diversification when combined. HERD charges 0.73%/yr vs 0.20%/yr for ACWV.

Performance

HERD vs. ACWV - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Cash Cows Fund of Funds ETF (HERD) and iShares MSCI Global Min Vol Factor ETF (ACWV). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HERD achieves a 10.22% return, which is significantly higher than ACWV's 3.42% return.

HERD

• 1D: -0.36%
• 1M: -0.72%
• 6M: 7.21%
• YTD: 10.22%
• 1Y: 21.53%
• 3Y*: 14.31%
• 5Y*: 9.95%
• 10Y*: —

ACWV

• 1D: -0.39%
• 1M: 0.53%
• 6M: 2.85%
• YTD: 3.42%
• 1Y: 5.53%
• 3Y*: 9.73%
• 5Y*: 5.39%
• 10Y*: 6.98%

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

HERD vs. ACWV - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
HERD Pacer Cash Cows Fund of Funds ETF	10.22%	19.07%	2.91%	20.72%	-6.96%	28.58%	10.71%	6.95%
ACWV iShares MSCI Global Min Vol Factor ETF	3.42%	11.04%	11.38%	8.23%	-10.36%	13.97%	3.04%	9.36%

Correlation

The correlation between HERD and ACWV is 0.71, 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	0.71
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since May 7, 2019	0.57

The correlation between HERD and ACWV shifts across timeframes, from 0.57 (all time) to 0.71 (1 year), reflecting how their relationship changes across market environments.

HERD vs. ACWV - Sectors Allocation Comparison

Sectors	HERD	ACWV
Technology	20.7%	25.8%
Consumer Cyclical	15.8%	5.1%
Healthcare	14.4%	13.0%
Energy	14.3%	3.7%
Industrials	13.3%	8.1%
Communication Services	8.0%	11.9%
Consumer Defensive	7.8%	9.8%
Basic Materials	4.8%	1.5%
Utilities	0.7%	7.3%
Real Estate	0.3%	0.6%
Financial Services	0.0%	13.2%

Return for Risk

HERD vs. ACWV — Risk / Return Rank

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

HERD

HERD Risk / Return Rank: 75
HERD Sharpe Ratio Rank: 71
HERD Sortino Ratio Rank: 73
HERD Omega Ratio Rank: 70
HERD Calmar Ratio Rank: 86
HERD Martin Ratio Rank: 77

ACWV

ACWV Risk / Return Rank: 23
ACWV Sharpe Ratio Rank: 24
ACWV Sortino Ratio Rank: 22
ACWV Omega Ratio Rank: 21
ACWV Calmar Ratio Rank: 23
ACWV Martin Ratio Rank: 24

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.

HERD vs. ACWV - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Cash Cows Fund of Funds ETF (HERD) and iShares MSCI Global Min Vol Factor ETF (ACWV). 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.

	HERD	ACWV	Difference
Sharpe ratio: Return per unit of total volatility	1.82	0.69	+1.13
Sortino ratio: Return per unit of downside risk	2.61	1.03	+1.58
Omega ratio: Gain probability vs. loss probability	1.33	1.13	+0.20
Calmar ratio: Return relative to maximum drawdown	3.81	0.87	+2.93
Martin ratio: Return relative to average drawdown	11.37	2.49	+8.88

HERD vs. ACWV - Sharpe Ratio Comparison

The current HERD Sharpe Ratio is 1.82, which is higher than the ACWV Sharpe Ratio of 0.69. The chart below compares the historical Sharpe Ratios of HERD and ACWV, 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

HERD vs. ACWV - Drawdown Comparison

The maximum HERD drawdown since its inception was -39.41%, which is greater than ACWV's maximum drawdown of -28.82%. Use the drawdown chart below to compare losses from any high point for HERD and ACWV.

Drawdown Indicators

	HERD	ACWV	Difference
Max Drawdown Largest peak-to-trough decline	-39.41%	-28.82%	-10.59%
Max Drawdown (1Y) Largest decline over 1 year	-5.68%	-6.37%	+0.69%
Max Drawdown (3Y) Largest decline over 3 years	-18.90%	-7.56%	-11.34%
Max Drawdown (5Y) Largest decline over 5 years	-21.60%	-18.14%	-3.46%
Max Drawdown (10Y) Largest decline over 10 years	—	-28.82%	—
Current Drawdown Current decline from peak	-2.30%	-1.91%	-0.39%
Average Drawdown Average peak-to-trough decline	-4.53%	-3.11%	-1.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.90%	2.22%	-0.32%

Volatility

HERD vs. ACWV - Volatility Comparison

Pacer Cash Cows Fund of Funds ETF (HERD) has a higher volatility of 3.41% compared to iShares MSCI Global Min Vol Factor ETF (ACWV) at 3.15%. This indicates that HERD's price experiences larger fluctuations and is considered to be riskier than ACWV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HERD	ACWV	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.41%	3.15%	+0.26%
Volatility (6M) Calculated over the trailing 6-month period	8.45%	6.25%	+2.20%
Volatility (1Y) Calculated over the trailing 1-year period	11.86%	8.06%	+3.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.75%	10.27%	+7.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.40%	12.29%	+8.11%

HERD vs. ACWV - Expense Ratio Comparison

HERD has a 0.73% expense ratio, which is higher than ACWV's 0.20% expense ratio.

Dividends

HERD vs. ACWV - Dividend Comparison

HERD's dividend yield for the trailing twelve months is around 2.84%, more than ACWV's 1.94% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ACWV iShares MSCI Global Min Vol Factor ETF	1.94%	2.09%	2.33%	2.41%	2.18%	1.92%	1.77%	2.54%	2.32%	2.04%	2.56%	2.28%
HERD Pacer Cash Cows Fund of Funds ETF	2.84%	3.75%	2.43%	2.54%	2.50%	2.02%	1.95%	1.69%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both HERD and ACWV in my portfolio?

HERD and ACWV have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HERD or ACWV?

HERD has higher volatility (3.41%) compared to ACWV (3.15%). In terms of maximum drawdown, HERD dropped -39.41% vs ACWV's -28.82%.

Which ETF is better, HERD or ACWV?

On 5-year performance, HERD leads with 9.95% vs 5.39% for ACWV. On fees, ACWV is cheaper at 0.20% per year. On volatility, ACWV has been the lower-risk option at 3.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HERD or ACWV?

Over the 5-year period, HERD has performed better with a 9.95% return vs 5.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HERD or ACWV?

ACWV is cheaper with a 0.20% expense ratio, compared with 0.73% for HERD.

Which ETF pays a higher dividend yield, HERD or ACWV?

HERD has the higher dividend yield at 2.84%, compared with 1.94% for ACWV.

What is the main difference between HERD and ACWV?

HERD tracks Pacer Cash Cows Fund of Funds Index, while ACWV tracks MSCI ACWI Minimum Volatility Index. They also come from different issuers: Pacer and iShares. Their fees differ too: 0.73% for HERD and 0.20% for ACWV.

Which has better risk-adjusted returns?

HERD currently has the higher Sharpe Ratio (1.82 vs 0.69), 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.