ICOW vs. FLOW

Last updated Apr 2, 2026

Compare and contrast key facts about Pacer Developed Markets International Cash Cows 100 ETF (ICOW) and SPX FLOW, Inc. (FLOW).

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.

Performance

ICOW vs. FLOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Developed Markets International Cash Cows 100 ETF (ICOW) and SPX FLOW, Inc. (FLOW). The values are adjusted to include any dividend payments, if applicable.

ICOW vs. FLOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ICOW Pacer Developed Markets International Cash Cows 100 ETF	10.88%	36.95%	-2.59%	4.60%
FLOW SPX FLOW, Inc.	-0.81%	17.52%	13.03%	9.38%

Returns By Period

In the year-to-date period, ICOW achieves a 10.88% return, which is significantly higher than FLOW's -0.81% return.

ICOW

• 1D: 0.97%
• 1M: -3.10%
• YTD: 10.88%
• 6M: 18.26%
• 1Y: 39.13%
• 3Y*: 17.39%
• 5Y*: 10.40%
• 10Y*: —

FLOW

• 1D: -0.07%
• 1M: -1.78%
• YTD: -0.81%
• 6M: 2.88%
• 1Y: 17.41%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

Return for Risk

ICOW vs. FLOW — Risk / Return Rank

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

ICOW

ICOW Risk / Return Rank: 93
ICOW Sharpe Ratio Rank: 93
ICOW Sortino Ratio Rank: 94
ICOW Omega Ratio Rank: 94
ICOW Calmar Ratio Rank: 91
ICOW Martin Ratio Rank: 95

FLOW

FLOW Risk / Return Rank: 67
FLOW Sharpe Ratio Rank: 68
FLOW Sortino Ratio Rank: 62
FLOW Omega Ratio Rank: 63
FLOW Calmar Ratio Rank: 65
FLOW Martin Ratio Rank: 76

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.

ICOW vs. FLOW - 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 SPX FLOW, Inc. (FLOW). 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	FLOW	Difference
Sharpe ratio Return per unit of total volatility	2.30	0.79	+1.51
Sortino ratio Return per unit of downside risk	2.95	1.26	+1.69
Omega ratio Gain probability vs. loss probability	1.46	1.18	+0.28
Calmar ratio Return relative to maximum drawdown	3.31	1.10	+2.21
Martin ratio Return relative to average drawdown	15.48	4.86	+10.61
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICOW vs. FLOW - Sharpe Ratio Comparison

The current ICOW Sharpe Ratio is 2.30, which is higher than the FLOW Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of ICOW and FLOW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ICOW	FLOW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	0.79	+1.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.84	-0.32

Correlation

The correlation between ICOW and FLOW is 0.61, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

ICOW vs. FLOW - Dividend Comparison

ICOW's dividend yield for the trailing twelve months is around 2.24%, which matches FLOW's 2.24% 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%
FLOW SPX FLOW, Inc.	2.24%	2.15%	2.10%	0.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ICOW vs. FLOW - Drawdown Comparison

The maximum ICOW drawdown since its inception was -43.49%, which is greater than FLOW's maximum drawdown of -21.64%. Use the drawdown chart below to compare losses from any high point for ICOW and FLOW.

Drawdown Indicators

	ICOW	FLOW	Difference
Max Drawdown Largest peak-to-trough decline	-43.49%	-21.64%	-21.85%
Max Drawdown (1Y) Largest decline over 1 year	-12.00%	-16.12%	+4.12%
Max Drawdown (5Y) Largest decline over 5 years	-28.48%	—	—
Current Drawdown Current decline from peak	-4.20%	-4.54%	+0.34%
Average Drawdown Average peak-to-trough decline	-7.71%	-3.24%	-4.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	3.64%	-1.05%

Volatility

ICOW vs. FLOW - Volatility Comparison

Pacer Developed Markets International Cash Cows 100 ETF (ICOW) has a higher volatility of 5.30% compared to SPX FLOW, Inc. (FLOW) at 3.62%. This indicates that ICOW's price experiences larger fluctuations and is considered to be riskier than FLOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICOW	FLOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.30%	3.62%	+1.68%
Volatility (6M) Calculated over the trailing 6-month period	10.44%	11.02%	-0.58%
Volatility (1Y) Calculated over the trailing 1-year period	17.12%	22.12%	-5.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.58%	17.18%	-0.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.53%	17.18%	+1.35%