ICOW vs. PTNQ
ICOW (Pacer Developed Markets International Cash Cows 100 ETF) and PTNQ (Pacer Trendpilot 100 ETF) are both exchange-traded funds - ICOW is a Foreign Large Cap Equities fund tracking the Pacer Developed Markets International Cash Cows 100 Index, while PTNQ is a Large Cap Blend Equities fund tracking the Pacer NASDAQ-100 Trendpilot Index. Both are passively managed. Over the past 5 years, ICOW returned 8.62%/yr vs 10.35%/yr for PTNQ. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.65% expense ratio.
Performance
ICOW vs. PTNQ - Performance Comparison
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Returns By Period
In the year-to-date period, ICOW achieves a 8.24% return, which is significantly lower than PTNQ's 8.95% return.
ICOW
- 1D
- -0.37%
- 1M
- -6.80%
- YTD
- 8.24%
- 6M
- 7.93%
- 1Y
- 26.63%
- 3Y*
- 16.72%
- 5Y*
- 8.62%
- 10Y*
- —
PTNQ
- 1D
- -0.61%
- 1M
- -0.86%
- YTD
- 8.95%
- 6M
- 7.19%
- 1Y
- 23.87%
- 3Y*
- 13.29%
- 5Y*
- 10.35%
- 10Y*
- 16.33%
ICOW vs. PTNQ - 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% |
PTNQ Pacer Trendpilot 100 ETF | 8.95% | 7.18% | 15.47% | 34.65% | -16.00% | 13.16% | 29.38% | 24.00% | 8.51% | 13.32% |
Correlation
The correlation between ICOW and PTNQ is 0.55, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.55 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.47 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Jun 19, 2017 | 0.52 |
The correlation between ICOW and PTNQ has been stable across timeframes, ranging from 0.47 to 0.55 - a consistent structural relationship.
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Return for Risk
ICOW vs. PTNQ — Risk / Return Rank
ICOW
PTNQ
ICOW vs. PTNQ - 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 Pacer Trendpilot 100 ETF (PTNQ). 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 | PTNQ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.25 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 3.20 | 2.04 | +1.17 |
| Martin ratioReturn relative to average drawdown | 10.66 | 6.71 | +3.95 |
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Drawdowns
ICOW vs. PTNQ - Drawdown Comparison
The maximum ICOW drawdown since its inception was -43.49%, which is greater than PTNQ's maximum drawdown of -28.07%. Use the drawdown chart below to compare losses from any high point for ICOW and PTNQ.
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Drawdown Indicators
| ICOW | PTNQ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.49% | -28.07% | -15.42% |
Max Drawdown (1Y)Largest decline over 1 year | -8.35% | -11.76% | +3.41% |
Max Drawdown (3Y)Largest decline over 3 years | -14.81% | -14.19% | -0.62% |
Max Drawdown (5Y)Largest decline over 5 years | -27.79% | -18.47% | -9.32% |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.07% | — |
Current DrawdownCurrent decline from peak | -8.35% | -4.70% | -3.65% |
Average DrawdownAverage peak-to-trough decline | -7.56% | -5.68% | -1.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.50% | 3.56% | -1.06% |
Volatility
ICOW vs. PTNQ - Volatility Comparison
The current volatility for Pacer Developed Markets International Cash Cows 100 ETF (ICOW) is 5.83%, while Pacer Trendpilot 100 ETF (PTNQ) has a volatility of 8.75%. This indicates that ICOW experiences smaller price fluctuations and is considered to be less risky than PTNQ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICOW | PTNQ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.83% | 8.75% | -2.92% |
Volatility (6M)Calculated over the trailing 6-month period | 11.91% | 13.67% | -1.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.75% | 17.36% | -2.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.77% | 13.39% | +3.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.50% | 16.51% | +1.99% |
ICOW vs. PTNQ - Expense Ratio Comparison
Both ICOW and PTNQ have an expense ratio of 0.65%.
Dividends
ICOW vs. PTNQ - Dividend Comparison
ICOW's dividend yield for the trailing twelve months is around 2.36%, more than PTNQ's 0.81% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% | 0.00% | 0.00% |
PTNQ Pacer Trendpilot 100 ETF | 0.81% | 0.88% | 1.96% | 1.47% | 0.62% | 0.00% | 0.16% | 0.44% | 0.45% | 0.32% | 0.30% | 0.22% |
Frequently Asked Questions
ICOW and PTNQ have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PTNQ has higher volatility (8.75%) compared to ICOW (5.83%). In terms of maximum drawdown, ICOW dropped -43.49% vs PTNQ's -28.07%.
On 5-year performance, PTNQ leads with 10.35% vs 8.62% for ICOW. Both ETFs have the same 0.65% expense ratio. On volatility, ICOW has been the lower-risk option at 5.83%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, PTNQ has performed better with a 10.35% return vs 8.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ICOW and PTNQ have the same expense ratio: 0.65% per year.
ICOW has the higher dividend yield at 2.36%, compared with 0.81% for PTNQ.
ICOW is categorized as Foreign Large Cap Equities, while PTNQ is Large Cap Blend Equities. ICOW tracks Pacer Developed Markets International Cash Cows 100 Index, while PTNQ tracks Pacer NASDAQ-100 Trendpilot Index.
ICOW currently has the higher Sharpe Ratio (1.81 vs 1.39), 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.
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