ICOW vs. FDEV
Compare and contrast key facts about Pacer Developed Markets International Cash Cows 100 ETF (ICOW) and Fidelity International Multifactor ETF (FDEV).
ICOW and FDEV are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ICOW is a passively managed fund by Pacer that tracks the performance of the Pacer Developed Markets International Cash Cows 100 Index. It was launched on Jun 16, 2017. FDEV is a passively managed fund by Fidelity that tracks the performance of the Fidelity Targeted International Factor Index. It was launched on Feb 26, 2019. Both ICOW and FDEV are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
ICOW vs. FDEV - Performance Comparison
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ICOW vs. FDEV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ICOW Pacer Developed Markets International Cash Cows 100 ETF | 10.88% | 36.95% | -2.59% | 18.94% | -7.98% | 11.52% | 7.20% | 5.78% |
FDEV Fidelity International Multifactor ETF | 4.70% | 30.36% | 5.84% | 13.37% | -16.54% | 11.00% | 5.49% | 10.06% |
Returns By Period
In the year-to-date period, ICOW achieves a 10.88% return, which is significantly higher than FDEV's 4.70% return.
ICOW
- 1D
- 0.97%
- 1M
- -3.10%
- YTD
- 10.88%
- 6M
- 18.26%
- 1Y
- 39.13%
- 3Y*
- 17.39%
- 5Y*
- 10.40%
- 10Y*
- —
FDEV
- 1D
- 0.84%
- 1M
- -3.03%
- YTD
- 4.70%
- 6M
- 10.10%
- 1Y
- 26.71%
- 3Y*
- 15.30%
- 5Y*
- 8.13%
- 10Y*
- —
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ICOW vs. FDEV - Expense Ratio Comparison
ICOW has a 0.65% expense ratio, which is higher than FDEV's 0.39% expense ratio.
Return for Risk
ICOW vs. FDEV — Risk / Return Rank
ICOW
FDEV
ICOW vs. FDEV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pacer Developed Markets International Cash Cows 100 ETF (ICOW) and Fidelity International Multifactor ETF (FDEV). 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.
| ICOW | FDEV | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.30 | 1.83 | +0.46 |
Sortino ratioReturn per unit of downside risk | 2.95 | 2.54 | +0.41 |
Omega ratioGain probability vs. loss probability | 1.46 | 1.37 | +0.08 |
Calmar ratioReturn relative to maximum drawdown | 3.31 | 3.02 | +0.29 |
Martin ratioReturn relative to average drawdown | 15.48 | 12.24 | +3.24 |
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
| ICOW | FDEV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.30 | 1.83 | +0.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | 0.59 | +0.04 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.54 | -0.02 |
Correlation
The correlation between ICOW and FDEV is 0.82, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
ICOW vs. FDEV - Dividend Comparison
ICOW's dividend yield for the trailing twelve months is around 2.24%, less than FDEV's 2.81% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICOW Pacer Developed Markets International Cash Cows 100 ETF | 2.24% | 3.03% | 4.39% | 3.61% | 5.26% | 2.11% | 2.46% | 3.10% | 2.61% | 0.80% |
FDEV Fidelity International Multifactor ETF | 2.81% | 2.86% | 2.99% | 2.80% | 2.65% | 2.81% | 1.88% | 2.73% | 0.00% | 0.00% |
Drawdowns
ICOW vs. FDEV - Drawdown Comparison
The maximum ICOW drawdown since its inception was -43.49%, which is greater than FDEV's maximum drawdown of -30.11%. Use the drawdown chart below to compare losses from any high point for ICOW and FDEV.
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Drawdown Indicators
| ICOW | FDEV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.49% | -30.11% | -13.38% |
Max Drawdown (1Y)Largest decline over 1 year | -12.00% | -8.67% | -3.33% |
Max Drawdown (5Y)Largest decline over 5 years | -28.48% | -29.02% | +0.54% |
Current DrawdownCurrent decline from peak | -4.20% | -4.03% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -7.71% | -6.37% | -1.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 2.14% | +0.45% |
Volatility
ICOW vs. FDEV - Volatility Comparison
The current volatility for Pacer Developed Markets International Cash Cows 100 ETF (ICOW) is 5.30%, while Fidelity International Multifactor ETF (FDEV) has a volatility of 5.91%. This indicates that ICOW experiences smaller price fluctuations and is considered to be less risky than FDEV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICOW | FDEV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.30% | 5.91% | -0.61% |
Volatility (6M)Calculated over the trailing 6-month period | 10.44% | 9.15% | +1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.12% | 14.64% | +2.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.58% | 13.84% | +2.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.53% | 15.38% | +3.15% |