ICOW vs. ISZE

Last updated Apr 2, 2026

Compare and contrast key facts about Pacer Developed Markets International Cash Cows 100 ETF (ICOW) and iShares Edge MSCI Intl Size Factor ETF (ISZE).

ICOW and ISZE 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. ISZE is a passively managed fund by iShares that tracks the performance of the MSCI World ex USA Risk Weighted Index. It was launched on Jun 16, 2015. Both ICOW and ISZE 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. ISZE - 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 iShares Edge MSCI Intl Size Factor ETF (ISZE). The values are adjusted to include any dividend payments, if applicable.

ICOW vs. ISZE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICOW Pacer Developed Markets International Cash Cows 100 ETF	10.88%	36.95%	-2.59%	18.94%	-7.98%	11.52%	7.20%	17.91%	-16.09%	16.98%
ISZE iShares Edge MSCI Intl Size Factor ETF	0.00%	0.00%	-0.11%	15.54%	-15.70%	8.17%	6.07%	21.17%	-13.91%	8.10%

Returns By Period

ICOW

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

ISZE

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ICOW vs. ISZE - Expense Ratio Comparison

ICOW has a 0.65% expense ratio, which is higher than ISZE's 0.30% expense ratio.

ICOW

Pacer Developed Markets International Cash Cows 100 ETF

ISZE

iShares Edge MSCI Intl Size Factor ETF

Return for Risk

ICOW vs. ISZE — 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

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. ISZE - 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 iShares Edge MSCI Intl Size Factor ETF (ISZE). 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	ISZE	Difference
Sharpe ratio Return per unit of total volatility	2.30	—	—
Sortino ratio Return per unit of downside risk	2.95	—	—
Omega ratio Gain probability vs. loss probability	1.46	—	—
Calmar ratio Return relative to maximum drawdown	3.31	—	—
Martin ratio Return relative to average drawdown	15.48	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ICOW	ISZE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	—	—
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	—	—

Correlation

The correlation between ICOW and ISZE is 0.71, 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. ISZE - Dividend Comparison

ICOW's dividend yield for the trailing twelve months is around 2.24%, while ISZE has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
ISZE iShares Edge MSCI Intl Size Factor ETF	0.00%	0.00%	1.89%	6.63%	2.72%	8.47%	1.39%	2.24%	3.04%	3.33%	3.18%	1.09%

Drawdowns

Drawdown Indicators

	ICOW	ISZE	Difference
Max Drawdown Largest peak-to-trough decline	-43.49%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-12.00%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-28.48%	—	—
Current Drawdown Current decline from peak	-4.20%	—	—
Average Drawdown Average peak-to-trough decline	-7.71%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	—	—

Volatility

Volatility by Period

	ICOW	ISZE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.30%	—	—
Volatility (6M) Calculated over the trailing 6-month period	10.44%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	17.12%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.58%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.53%	—	—