ICOW vs. IOR

Last updated Jun 25, 2026

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 IOR (Income Opportunity Realty Investors, Inc.) is a stock. Over the past 5 years, ICOW returned 8.62%/yr vs 6.89%/yr for IOR. At a 0.02 correlation, their price movements are largely independent.

Performance

ICOW vs. IOR - 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 Income Opportunity Realty Investors, Inc. (IOR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICOW achieves a 8.24% return, which is significantly higher than IOR's 1.93% return.

ICOW

• 1D: -0.37%
• 1M: -6.80%
• YTD: 8.24%
• 6M: 7.93%
• 1Y: 26.63%
• 3Y*: 16.72%
• 5Y*: 8.62%
• 10Y*: —

IOR

• 1D: -0.89%
• 1M: -0.06%
• YTD: 1.93%
• 6M: 1.93%
• 1Y: -5.35%
• 3Y*: 18.32%
• 5Y*: 6.89%
• 10Y*: 9.92%

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

ICOW vs. IOR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICOW Pacer Developed Markets International Cash Cows 100 ETF	8.24%	36.95%	-2.59%	18.94%	-7.98%	11.52%	7.20%	17.91%	-16.09%	16.93%
IOR Income Opportunity Realty Investors, Inc.	1.93%	-2.50%	34.33%	11.57%	0.50%	5.38%	-14.09%	23.70%	-3.69%	23.80%

Correlation

The correlation between ICOW and IOR is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.02
Correlation (5Y) Calculated over the trailing 5-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Jun 19, 2017	0.02

Return for Risk

ICOW vs. IOR — 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: 62
ICOW Sortino Ratio Rank: 57
ICOW Omega Ratio Rank: 58
ICOW Calmar Ratio Rank: 71
ICOW Martin Ratio Rank: 65

IOR

IOR Risk / Return Rank: 30
IOR Sharpe Ratio Rank: 35
IOR Sortino Ratio Rank: 30
IOR Omega Ratio Rank: 29
IOR Calmar Ratio Rank: 26
IOR Martin Ratio Rank: 28

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. IOR - 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 Income Opportunity Realty Investors, Inc. (IOR). 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	IOR	Difference
Sharpe ratio: Return per unit of total volatility	1.81	-0.19	+2.01
Sortino ratio: Return per unit of downside risk	2.42	-0.09	+2.51
Omega ratio: Gain probability vs. loss probability	1.32	0.98	+0.34
Calmar ratio: Return relative to maximum drawdown	3.20	-0.48	+3.68
Martin ratio: Return relative to average drawdown	10.66	-0.78	+11.44

ICOW vs. IOR - Sharpe Ratio Comparison

The current ICOW Sharpe Ratio is 1.81, which is higher than the IOR Sharpe Ratio of -0.19. The chart below compares the historical Sharpe Ratios of ICOW and IOR, 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. IOR - Drawdown Comparison

The maximum ICOW drawdown since its inception was -43.49%, smaller than the maximum IOR drawdown of -90.94%. Use the drawdown chart below to compare losses from any high point for ICOW and IOR.

Drawdown Indicators

	ICOW	IOR	Difference
Max Drawdown Largest peak-to-trough decline	-43.49%	-90.94%	+47.45%
Max Drawdown (1Y) Largest decline over 1 year	-8.35%	-11.19%	+2.84%
Max Drawdown (3Y) Largest decline over 3 years	-14.81%	-17.40%	+2.59%
Max Drawdown (5Y) Largest decline over 5 years	-27.79%	-33.88%	+6.09%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.53%	—
Current Drawdown Current decline from peak	-8.35%	-8.17%	-0.18%
Average Drawdown Average peak-to-trough decline	-7.56%	-32.81%	+25.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.50%	6.91%	-4.41%

Volatility

ICOW vs. IOR - Volatility Comparison

Pacer Developed Markets International Cash Cows 100 ETF (ICOW) and Income Opportunity Realty Investors, Inc. (IOR) have volatilities of 5.83% and 5.86%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICOW	IOR	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.83%	5.86%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	11.91%	17.10%	-5.19%
Volatility (1Y) Calculated over the trailing 1-year period	14.75%	28.04%	-13.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.77%	45.91%	-29.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.50%	48.59%	-30.09%

Dividends

ICOW vs. IOR - Dividend Comparison

ICOW's dividend yield for the trailing twelve months is around 2.36%, while IOR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
IOR Income Opportunity Realty Investors, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ICOW and IOR in my portfolio?

ICOW and IOR have a correlation of 0.06, 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 IOR?

IOR has higher volatility (5.86%) compared to ICOW (5.83%). In terms of maximum drawdown, ICOW dropped -43.49% vs IOR's -90.94%.

Which has better risk-adjusted returns?

ICOW currently has the higher Sharpe Ratio (1.81 vs -0.19), 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.