ICOW vs. KVHI

Last updated Apr 2, 2026

Compare and contrast key facts about Pacer Developed Markets International Cash Cows 100 ETF (ICOW) and KVH Industries, Inc. (KVHI).

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.

Performance

ICOW vs. KVHI - 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 KVH Industries, Inc. (KVHI). The values are adjusted to include any dividend payments, if applicable.

ICOW vs. KVHI - 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%
KVHI KVH Industries, Inc.	29.27%	22.28%	8.37%	-48.53%	11.21%	-19.03%	1.98%	8.16%	-0.58%	10.11%

Returns By Period

In the year-to-date period, ICOW achieves a 10.88% return, which is significantly lower than KVHI's 29.27% return.

ICOW

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

KVHI

• 1D: 0.56%
• 1M: 46.03%
• YTD: 29.27%
• 6M: 62.05%
• 1Y: 74.27%
• 3Y*: -7.49%
• 5Y*: -6.80%
• 10Y*: -0.96%

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

Return for Risk

ICOW vs. KVHI — 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

KVHI

KVHI Risk / Return Rank: 85
KVHI Sharpe Ratio Rank: 85
KVHI Sortino Ratio Rank: 87
KVHI Omega Ratio Rank: 82
KVHI Calmar Ratio Rank: 85
KVHI Martin Ratio Rank: 86

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. KVHI - 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 KVH Industries, Inc. (KVHI). 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	KVHI	Difference
Sharpe ratio Return per unit of total volatility	2.30	1.62	+0.67
Sortino ratio Return per unit of downside risk	2.95	2.59	+0.36
Omega ratio Gain probability vs. loss probability	1.46	1.31	+0.15
Calmar ratio Return relative to maximum drawdown	3.31	3.18	+0.13
Martin ratio Return relative to average drawdown	15.48	8.95	+6.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ICOW vs. KVHI - Sharpe Ratio Comparison

The current ICOW Sharpe Ratio is 2.30, which is higher than the KVHI Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of ICOW and KVHI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	ICOW	KVHI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	1.62	+0.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	-0.17	+0.80
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	-0.02	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.52	0.01	+0.51

Correlation

The correlation between ICOW and KVHI is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

ICOW vs. KVHI - Dividend Comparison

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

	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%
KVHI KVH Industries, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

ICOW vs. KVHI - Drawdown Comparison

The maximum ICOW drawdown since its inception was -43.49%, smaller than the maximum KVHI drawdown of -91.15%. Use the drawdown chart below to compare losses from any high point for ICOW and KVHI.

Drawdown Indicators

	ICOW	KVHI	Difference
Max Drawdown Largest peak-to-trough decline	-43.49%	-91.15%	+47.66%
Max Drawdown (1Y) Largest decline over 1 year	-12.00%	-22.13%	+10.13%
Max Drawdown (5Y) Largest decline over 5 years	-28.48%	-70.30%	+41.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-71.49%	—
Current Drawdown Current decline from peak	-4.20%	-72.70%	+68.50%
Average Drawdown Average peak-to-trough decline	-7.71%	-62.08%	+54.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	7.85%	-5.26%

Volatility

ICOW vs. KVHI - Volatility Comparison

The current volatility for Pacer Developed Markets International Cash Cows 100 ETF (ICOW) is 5.30%, while KVH Industries, Inc. (KVHI) has a volatility of 23.91%. This indicates that ICOW experiences smaller price fluctuations and is considered to be less risky than KVHI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICOW	KVHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.30%	23.91%	-18.61%
Volatility (6M) Calculated over the trailing 6-month period	10.44%	38.40%	-27.96%
Volatility (1Y) Calculated over the trailing 1-year period	17.12%	46.06%	-28.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.58%	41.04%	-24.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.53%	42.89%	-24.36%