IMVP vs. ECOW
IMVP (Invesco India ETF) and ECOW (Pacer Emerging Markets Cash Cows 100 ETF) are both Emerging Markets Equities funds - IMVP tracks the FTSE India Quality and Yield Select Index while ECOW tracks the Pacer Emerging Markets Cash Cows 100 Index. Both are passively managed. Over the past 5 years, IMVP returned 2.42%/yr vs 6.12%/yr for ECOW. At a 0.41 correlation, their price movements are largely independent. IMVP charges 0.78%/yr vs 0.70%/yr for ECOW.
Performance
IMVP vs. ECOW - Performance Comparison
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Returns By Period
In the year-to-date period, IMVP achieves a -16.08% return, which is significantly lower than ECOW's 13.10% return.
IMVP
- 1D
- -2.11%
- 1M
- -2.53%
- YTD
- -16.08%
- 6M
- -14.80%
- 1Y
- -16.87%
- 3Y*
- 2.95%
- 5Y*
- 2.42%
- 10Y*
- 8.19%
ECOW
- 1D
- -1.50%
- 1M
- -0.42%
- YTD
- 13.10%
- 6M
- 12.29%
- 1Y
- 35.35%
- 3Y*
- 19.90%
- 5Y*
- 6.12%
- 10Y*
- —
IMVP vs. ECOW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IMVP Invesco India ETF | -16.08% | 1.30% | 9.07% | 22.82% | -9.35% | 23.68% | 18.41% | 8.84% |
ECOW Pacer Emerging Markets Cash Cows 100 ETF | 13.10% | 32.50% | 3.17% | 15.79% | -19.28% | 7.47% | -2.51% | 10.37% |
Correlation
The correlation between IMVP and ECOW is 0.39, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.39 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.36 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since May 7, 2019 | 0.41 |
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Return for Risk
IMVP vs. ECOW — Risk / Return Rank
IMVP
ECOW
IMVP vs. ECOW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco India ETF (IMVP) and Pacer Emerging Markets Cash Cows 100 ETF (ECOW). 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.
| IMVP | ECOW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -3.55 | ||
| Sortino ratioReturn per unit of downside risk | -4.76 | ||
| Omega ratioGain probability vs. loss probability | 0.83 | 1.46 | -0.62 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | 4.25 | -5.04 |
| Martin ratioReturn relative to average drawdown | -1.84 | 15.39 | -17.23 |
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
| IMVP | ECOW | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.05 | 2.50 | -3.55 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.15 | 0.35 | -0.20 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.12 | 0.37 | -0.26 |
Drawdowns
IMVP vs. ECOW - Drawdown Comparison
The maximum IMVP drawdown since its inception was -64.54%, which is greater than ECOW's maximum drawdown of -40.27%. Use the drawdown chart below to compare losses from any high point for IMVP and ECOW.
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Drawdown Indicators
| IMVP | ECOW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.54% | -40.27% | -24.27% |
Max Drawdown (1Y)Largest decline over 1 year | -21.44% | -8.35% | -13.09% |
Max Drawdown (3Y)Largest decline over 3 years | -25.80% | -18.77% | -7.03% |
Max Drawdown (5Y)Largest decline over 5 years | -25.80% | -33.67% | +7.87% |
Max Drawdown (10Y)Largest decline over 10 years | -39.69% | — | — |
Current DrawdownCurrent decline from peak | -23.71% | -3.53% | -20.18% |
Average DrawdownAverage peak-to-trough decline | -16.70% | -11.07% | -5.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.16% | 2.30% | +6.86% |
Volatility
IMVP vs. ECOW - Volatility Comparison
Invesco India ETF (IMVP) has a higher volatility of 6.00% compared to Pacer Emerging Markets Cash Cows 100 ETF (ECOW) at 4.66%. This indicates that IMVP's price experiences larger fluctuations and is considered to be riskier than ECOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IMVP | ECOW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.00% | 4.66% | +1.34% |
Volatility (6M)Calculated over the trailing 6-month period | 14.16% | 10.88% | +3.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.17% | 14.19% | +1.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.11% | 17.65% | -1.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.59% | 20.13% | -0.54% |
IMVP vs. ECOW - Expense Ratio Comparison
IMVP has a 0.78% expense ratio, which is higher than ECOW's 0.70% expense ratio.
Dividends
IMVP vs. ECOW - Dividend Comparison
IMVP's dividend yield for the trailing twelve months is around 8.81%, more than ECOW's 4.60% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ECOW Pacer Emerging Markets Cash Cows 100 ETF | 4.60% | 5.20% | 7.35% | 5.46% | 7.50% | 4.39% | 3.35% | 8.08% | 0.00% | 0.00% | 0.00% | 0.00% |
IMVP Invesco India ETF | 8.81% | 7.39% | 8.48% | 2.08% | 14.07% | 6.95% | 0.72% | 36.35% | 0.96% | 1.01% | 1.18% | 0.61% |
Frequently Asked Questions
IMVP and ECOW have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IMVP has higher volatility (6.00%) compared to ECOW (4.66%). In terms of maximum drawdown, IMVP dropped -64.54% vs ECOW's -40.27%.
On 5-year performance, ECOW leads with 6.12% vs 2.42% for IMVP. On fees, ECOW is cheaper at 0.70% per year. On volatility, ECOW has been the lower-risk option at 4.66%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, ECOW has performed better with a 6.12% return vs 2.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ECOW is cheaper with a 0.70% expense ratio, compared with 0.78% for IMVP.
IMVP has the higher dividend yield at 8.81%, compared with 4.60% for ECOW.
IMVP tracks FTSE India Quality and Yield Select Index, while ECOW tracks Pacer Emerging Markets Cash Cows 100 Index. They also come from different issuers: Invesco and Pacer. Their fees differ too: 0.78% for IMVP and 0.70% for ECOW.
ECOW currently has the higher Sharpe Ratio (2.50 vs -1.05), 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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