ICOW vs. FLOW
ICOW (Pacer Developed Markets International Cash Cows 100 ETF) is Foreign Large Cap Equities fund tracking the Pacer Developed Markets International Cash Cows 100 Index, while FLOW (SPX FLOW, Inc.) is a stock. Over the past year, ICOW returned 26.63% vs 22.96% for FLOW. A 0.59 correlation means they provide meaningful diversification when combined.
Performance
ICOW vs. FLOW - Performance Comparison
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Returns By Period
In the year-to-date period, ICOW achieves a 8.24% return, which is significantly higher than FLOW's 5.76% return.
ICOW
- 1D
- -0.37%
- 1M
- -6.80%
- YTD
- 8.24%
- 6M
- 7.93%
- 1Y
- 26.63%
- 3Y*
- 16.72%
- 5Y*
- 8.62%
- 10Y*
- —
FLOW
- 1D
- 0.91%
- 1M
- -0.69%
- YTD
- 5.76%
- 6M
- 4.99%
- 1Y
- 22.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ICOW vs. FLOW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ICOW Pacer Developed Markets International Cash Cows 100 ETF | 8.24% | 36.95% | -2.59% | 6.50% |
FLOW SPX FLOW, Inc. | 5.76% | 17.52% | 13.03% | 9.38% |
Correlation
The correlation between ICOW and FLOW is 0.50, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jul 12, 2023 | 0.59 |
The correlation between ICOW and FLOW has been stable across timeframes, ranging from 0.50 to 0.59 - a consistent structural relationship.
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Return for Risk
ICOW vs. FLOW — Risk / Return Rank
ICOW
FLOW
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.
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.
| ICOW | FLOW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.32 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.27 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.20 | 3.49 | -0.28 |
| Martin ratioReturn relative to average drawdown | 10.66 | 9.34 | +1.32 |
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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.
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Drawdown Indicators
| ICOW | FLOW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.49% | -21.64% | -21.85% |
Max Drawdown (1Y)Largest decline over 1 year | -8.35% | -6.61% | -1.74% |
Max Drawdown (3Y)Largest decline over 3 years | -14.81% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -27.79% | — | — |
Current DrawdownCurrent decline from peak | -8.35% | -5.06% | -3.29% |
Average DrawdownAverage peak-to-trough decline | -7.56% | -3.14% | -4.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 2.46% | +0.04% |
Volatility
ICOW vs. FLOW - Volatility Comparison
Pacer Developed Markets International Cash Cows 100 ETF (ICOW) has a higher volatility of 5.83% compared to SPX FLOW, Inc. (FLOW) at 4.59%. 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.
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Volatility by Period
| ICOW | FLOW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.83% | 4.59% | +1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 11.91% | 10.37% | +1.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.75% | 15.46% | -0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.77% | 16.94% | -0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.50% | 16.94% | +1.56% |
Dividends
ICOW vs. FLOW - Dividend Comparison
ICOW's dividend yield for the trailing twelve months is around 2.36%, more than FLOW's 2.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FLOW SPX FLOW, Inc. | 2.12% | 2.15% | 2.10% | 0.95% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ICOW Pacer Developed Markets International Cash Cows 100 ETF | 2.36% | 3.03% | 4.39% | 3.61% | 5.26% | 2.11% | 2.46% | 3.10% | 2.61% | 0.80% |
Frequently Asked Questions
ICOW and FLOW have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ICOW has higher volatility (5.83%) compared to FLOW (4.59%). In terms of maximum drawdown, ICOW dropped -43.49% vs FLOW's -21.64%.
ICOW currently has the higher Sharpe Ratio (1.81 vs 1.49), 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.
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