ICOW vs. KEMX
Compare and contrast key facts about Pacer Developed Markets International Cash Cows 100 ETF (ICOW) and KraneShares MSCI Emerging Markets ex China Index ETF (KEMX).
ICOW and KEMX 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. KEMX is a passively managed fund by CICC that tracks the performance of the MSCI Emerging Markets ex China Index. It was launched on Apr 12, 2019. Both ICOW and KEMX 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. KEMX - Performance Comparison
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ICOW vs. KEMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
ICOW Pacer Developed Markets International Cash Cows 100 ETF | 10.88% | 36.95% | -2.59% | 18.94% | -7.98% | 11.52% | 7.20% | 2.44% |
KEMX KraneShares MSCI Emerging Markets ex China Index ETF | 10.61% | 38.28% | 0.36% | 20.57% | -19.35% | 10.55% | 12.84% | 7.93% |
Returns By Period
The year-to-date returns for both stocks are quite close, with ICOW having a 10.88% return and KEMX slightly lower at 10.61%.
ICOW
- 1D
- 0.97%
- 1M
- -3.10%
- YTD
- 10.88%
- 6M
- 18.26%
- 1Y
- 39.13%
- 3Y*
- 17.39%
- 5Y*
- 10.40%
- 10Y*
- —
KEMX
- 1D
- 1.15%
- 1M
- -8.33%
- YTD
- 10.61%
- 6M
- 21.39%
- 1Y
- 51.35%
- 3Y*
- 20.78%
- 5Y*
- 9.30%
- 10Y*
- —
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ICOW vs. KEMX - Expense Ratio Comparison
ICOW has a 0.65% expense ratio, which is higher than KEMX's 0.25% expense ratio.
Return for Risk
ICOW vs. KEMX — Risk / Return Rank
ICOW
KEMX
ICOW vs. KEMX - 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 KraneShares MSCI Emerging Markets ex China Index ETF (KEMX). 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 | KEMX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.30 | 2.41 | -0.11 |
Sortino ratioReturn per unit of downside risk | 2.95 | 3.05 | -0.10 |
Omega ratioGain probability vs. loss probability | 1.46 | 1.45 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 3.31 | 3.39 | -0.08 |
Martin ratioReturn relative to average drawdown | 15.48 | 13.94 | +1.53 |
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 | KEMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.30 | 2.41 | -0.11 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.63 | 0.53 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.51 | +0.01 |
Correlation
The correlation between ICOW and KEMX is 0.75, 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. KEMX - Dividend Comparison
ICOW's dividend yield for the trailing twelve months is around 2.24%, less than KEMX's 2.97% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
KEMX KraneShares MSCI Emerging Markets ex China Index ETF | 2.97% | 3.28% | 3.39% | 2.00% | 4.10% | 4.79% | 1.69% | 2.77% | 0.00% | 0.00% |
Drawdowns
ICOW vs. KEMX - Drawdown Comparison
The maximum ICOW drawdown since its inception was -43.49%, which is greater than KEMX's maximum drawdown of -38.80%. Use the drawdown chart below to compare losses from any high point for ICOW and KEMX.
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Drawdown Indicators
| ICOW | KEMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.49% | -38.80% | -4.69% |
Max Drawdown (1Y)Largest decline over 1 year | -12.00% | -15.36% | +3.36% |
Max Drawdown (5Y)Largest decline over 5 years | -28.48% | -30.85% | +2.37% |
Current DrawdownCurrent decline from peak | -4.20% | -10.66% | +6.46% |
Average DrawdownAverage peak-to-trough decline | -7.71% | -9.02% | +1.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 3.73% | -1.14% |
Volatility
ICOW vs. KEMX - Volatility Comparison
The current volatility for Pacer Developed Markets International Cash Cows 100 ETF (ICOW) is 5.30%, while KraneShares MSCI Emerging Markets ex China Index ETF (KEMX) has a volatility of 11.42%. This indicates that ICOW experiences smaller price fluctuations and is considered to be less risky than KEMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICOW | KEMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.30% | 11.42% | -6.12% |
Volatility (6M)Calculated over the trailing 6-month period | 10.44% | 16.99% | -6.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.12% | 21.41% | -4.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.58% | 17.56% | -0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.53% | 20.61% | -2.08% |