ICOW vs. IVAL
Compare and contrast key facts about Pacer Developed Markets International Cash Cows 100 ETF (ICOW) and Alpha Architect International Quantitative Value ETF (IVAL).
ICOW and IVAL 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. IVAL is an actively managed fund by Alpha Architect. It was launched on Dec 16, 2014.
Performance
ICOW vs. IVAL - Performance Comparison
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ICOW vs. IVAL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ICOW Pacer Developed Markets International Cash Cows 100 ETF | 9.82% | 36.95% | -2.59% | 18.94% | -7.98% | 11.52% | 7.20% | 17.91% | -16.09% | 16.98% |
IVAL Alpha Architect International Quantitative Value ETF | 8.42% | 34.92% | -0.71% | 20.61% | -10.06% | -0.22% | -4.94% | 21.26% | -22.50% | 11.26% |
Returns By Period
In the year-to-date period, ICOW achieves a 9.82% return, which is significantly higher than IVAL's 8.42% return.
ICOW
- 1D
- 2.29%
- 1M
- -5.12%
- YTD
- 9.82%
- 6M
- 18.13%
- 1Y
- 38.68%
- 3Y*
- 17.01%
- 5Y*
- 10.19%
- 10Y*
- —
IVAL
- 1D
- 2.88%
- 1M
- -7.11%
- YTD
- 8.42%
- 6M
- 14.13%
- 1Y
- 37.22%
- 3Y*
- 17.52%
- 5Y*
- 8.19%
- 10Y*
- 7.75%
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ICOW vs. IVAL - Expense Ratio Comparison
ICOW has a 0.65% expense ratio, which is higher than IVAL's 0.39% expense ratio.
Return for Risk
ICOW vs. IVAL — Risk / Return Rank
ICOW
IVAL
ICOW vs. IVAL - 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 Alpha Architect International Quantitative Value ETF (IVAL). 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 | IVAL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.27 | 2.13 | +0.15 |
Sortino ratioReturn per unit of downside risk | 2.92 | 2.85 | +0.08 |
Omega ratioGain probability vs. loss probability | 1.45 | 1.41 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | 3.08 | 3.24 | -0.17 |
Martin ratioReturn relative to average drawdown | 14.46 | 12.61 | +1.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ICOW | IVAL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.27 | 2.13 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.62 | 0.47 | +0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.41 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.51 | 0.33 | +0.19 |
Correlation
The correlation between ICOW and IVAL is 0.85, 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. IVAL - Dividend Comparison
ICOW's dividend yield for the trailing twelve months is around 2.26%, less than IVAL's 2.77% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICOW Pacer Developed Markets International Cash Cows 100 ETF | 2.26% | 3.03% | 4.39% | 3.61% | 5.26% | 2.11% | 2.46% | 3.10% | 2.61% | 0.80% | 0.00% | 0.00% |
IVAL Alpha Architect International Quantitative Value ETF | 2.77% | 2.75% | 3.60% | 5.15% | 8.00% | 3.95% | 2.07% | 2.51% | 2.93% | 1.73% | 2.02% | 1.86% |
Drawdowns
ICOW vs. IVAL - Drawdown Comparison
The maximum ICOW drawdown since its inception was -43.49%, smaller than the maximum IVAL drawdown of -46.09%. Use the drawdown chart below to compare losses from any high point for ICOW and IVAL.
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Drawdown Indicators
| ICOW | IVAL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.49% | -46.09% | +2.60% |
Max Drawdown (1Y)Largest decline over 1 year | -12.08% | -11.24% | -0.84% |
Max Drawdown (5Y)Largest decline over 5 years | -28.48% | -31.01% | +2.53% |
Max Drawdown (10Y)Largest decline over 10 years | — | -46.09% | — |
Current DrawdownCurrent decline from peak | -5.12% | -7.11% | +1.99% |
Average DrawdownAverage peak-to-trough decline | -7.71% | -12.12% | +4.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 2.89% | -0.32% |
Volatility
ICOW vs. IVAL - Volatility Comparison
The current volatility for Pacer Developed Markets International Cash Cows 100 ETF (ICOW) is 6.21%, while Alpha Architect International Quantitative Value ETF (IVAL) has a volatility of 7.41%. This indicates that ICOW experiences smaller price fluctuations and is considered to be less risky than IVAL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICOW | IVAL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.21% | 7.41% | -1.20% |
Volatility (6M)Calculated over the trailing 6-month period | 10.42% | 11.38% | -0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.15% | 17.60% | -0.45% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.58% | 17.67% | -1.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.53% | 18.91% | -0.38% |