ICOW vs. IDOG

Last updated Jun 24, 2026

ICOW (Pacer Developed Markets International Cash Cows 100 ETF) and IDOG (ALPS International Sector Dividend Dogs ETF) are both Foreign Large Cap Equities funds - ICOW tracks the Pacer Developed Markets International Cash Cows 100 Index while IDOG tracks the S-Network International Sector Dividend Dogs Index. Both are passively managed. Over the past 5 years, ICOW returned 8.76%/yr vs 12.88%/yr for IDOG. Their correlation of 0.85 suggests significant overlap in exposure. ICOW charges 0.65%/yr vs 0.50%/yr for IDOG.

Performance

ICOW vs. IDOG - 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 ALPS International Sector Dividend Dogs ETF (IDOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICOW achieves a 8.64% return, which is significantly lower than IDOG's 10.07% return.

ICOW

• 1D: -2.08%
• 1M: -6.45%
• YTD: 8.64%
• 6M: 8.47%
• 1Y: 27.98%
• 3Y*: 16.87%
• 5Y*: 8.76%
• 10Y*: —

IDOG

• 1D: -0.39%
• 1M: -3.26%
• YTD: 10.07%
• 6M: 10.27%
• 1Y: 30.43%
• 3Y*: 20.17%
• 5Y*: 12.88%
• 10Y*: 11.26%

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

ICOW vs. IDOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICOW Pacer Developed Markets International Cash Cows 100 ETF	8.64%	36.95%	-2.59%	18.94%	-7.98%	11.52%	7.20%	17.91%	-16.09%	16.93%
IDOG ALPS International Sector Dividend Dogs ETF	10.07%	39.94%	1.35%	23.57%	-4.50%	11.33%	-1.78%	21.93%	-13.47%	8.32%

Correlation

The correlation between ICOW and IDOG is 0.79, 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	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jun 19, 2017	0.85

The correlation between ICOW and IDOG has been stable across timeframes, ranging from 0.79 to 0.88 - a consistent structural relationship.

ICOW vs. IDOG - Sectors Allocation Comparison

Sectors	ICOW	IDOG
Industrials	29.1%	12.2%
Energy	21.3%	10.1%
Consumer Cyclical	12.7%	9.6%
Communication Services	8.7%	9.8%
Consumer Defensive	8.1%	9.1%
Technology	7.8%	9.1%
Healthcare	6.7%	8.9%
Basic Materials	5.6%	10.2%
Financial Services	-	11.3%
Real Estate	-	-
Utilities	-	9.6%

Return for Risk

ICOW vs. IDOG — Risk / Return Rank

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

ICOW

ICOW Risk / Return Rank: 63
ICOW Sharpe Ratio Rank: 60
ICOW Sortino Ratio Rank: 56
ICOW Omega Ratio Rank: 58
ICOW Calmar Ratio Rank: 73
ICOW Martin Ratio Rank: 66

IDOG

IDOG Risk / Return Rank: 76
IDOG Sharpe Ratio Rank: 74
IDOG Sortino Ratio Rank: 70
IDOG Omega Ratio Rank: 67
IDOG Calmar Ratio Rank: 88
IDOG Martin Ratio Rank: 83

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. IDOG - 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 ALPS International Sector Dividend Dogs ETF (IDOG). 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	IDOG	Difference
Sharpe ratio: Return per unit of total volatility	1.91	2.20	-0.30
Sortino ratio: Return per unit of downside risk	2.52	2.96	-0.43
Omega ratio: Gain probability vs. loss probability	1.34	1.38	-0.04
Calmar ratio: Return relative to maximum drawdown	3.51	4.72	-1.22
Martin ratio: Return relative to average drawdown	11.46	15.97	-4.51

ICOW vs. IDOG - Sharpe Ratio Comparison

The current ICOW Sharpe Ratio is 1.91, which is comparable to the IDOG Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of ICOW and IDOG, 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

ICOW vs. IDOG - Drawdown Comparison

The maximum ICOW drawdown since its inception was -43.49%, which is greater than IDOG's maximum drawdown of -37.32%. Use the drawdown chart below to compare losses from any high point for ICOW and IDOG.

Drawdown Indicators

	ICOW	IDOG	Difference
Max Drawdown Largest peak-to-trough decline	-43.49%	-37.32%	-6.17%
Max Drawdown (1Y) Largest decline over 1 year	-8.02%	-6.47%	-1.55%
Max Drawdown (3Y) Largest decline over 3 years	-14.81%	-13.92%	-0.89%
Max Drawdown (5Y) Largest decline over 5 years	-27.79%	-25.31%	-2.48%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.32%	—
Current Drawdown Current decline from peak	-8.01%	-4.45%	-3.56%
Average Drawdown Average peak-to-trough decline	-7.56%	-7.90%	+0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.45%	1.91%	+0.54%

Volatility

ICOW vs. IDOG - Volatility Comparison

Pacer Developed Markets International Cash Cows 100 ETF (ICOW) has a higher volatility of 5.85% compared to ALPS International Sector Dividend Dogs ETF (IDOG) at 4.87%. This indicates that ICOW's price experiences larger fluctuations and is considered to be riskier than IDOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICOW	IDOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.85%	4.87%	+0.98%
Volatility (6M) Calculated over the trailing 6-month period	11.90%	10.94%	+0.96%
Volatility (1Y) Calculated over the trailing 1-year period	14.75%	13.89%	+0.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.77%	15.69%	+1.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.51%	17.18%	+1.33%

ICOW vs. IDOG - Expense Ratio Comparison

ICOW has a 0.65% expense ratio, which is higher than IDOG's 0.50% expense ratio.

Dividends

ICOW vs. IDOG - Dividend Comparison

ICOW's dividend yield for the trailing twelve months is around 2.35%, less than IDOG's 4.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ICOW Pacer Developed Markets International Cash Cows 100 ETF	2.35%	3.03%	4.39%	3.61%	5.26%	2.11%	2.46%	3.10%	2.61%	0.80%	0.00%	0.00%
IDOG ALPS International Sector Dividend Dogs ETF	4.47%	4.26%	4.90%	4.86%	4.46%	3.85%	3.00%	5.41%	4.50%	3.33%	4.01%	4.19%

Frequently Asked Questions

Can I hold both ICOW and IDOG in my portfolio?

ICOW and IDOG have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICOW or IDOG?

ICOW has higher volatility (5.85%) compared to IDOG (4.87%). In terms of maximum drawdown, ICOW dropped -43.49% vs IDOG's -37.32%.

Which ETF is better, ICOW or IDOG?

On 5-year performance, IDOG leads with 12.88% vs 8.76% for ICOW. On fees, IDOG is cheaper at 0.50% per year. On volatility, IDOG has been the lower-risk option at 4.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ICOW or IDOG?

Over the 5-year period, IDOG has performed better with a 12.88% return vs 8.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ICOW or IDOG?

IDOG is cheaper with a 0.50% expense ratio, compared with 0.65% for ICOW.

Which ETF pays a higher dividend yield, ICOW or IDOG?

IDOG has the higher dividend yield at 4.47%, compared with 2.35% for ICOW.

What is the main difference between ICOW and IDOG?

ICOW tracks Pacer Developed Markets International Cash Cows 100 Index, while IDOG tracks S-Network International Sector Dividend Dogs Index. They also come from different issuers: Pacer and SS&C. Their fees differ too: 0.65% for ICOW and 0.50% for IDOG.

Which has better risk-adjusted returns?

IDOG currently has the higher Sharpe Ratio (2.20 vs 1.91), 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.