IOR vs. ICOW

Last updated Jun 4, 2026

IOR (Income Opportunity Realty Investors, Inc.) is a stock, while ICOW (Pacer Developed Markets International Cash Cows 100 ETF) is Foreign Large Cap Equities fund tracking the Pacer Developed Markets International Cash Cows 100 Index. Over the past 5 years, IOR returned 6.89%/yr vs 10.06%/yr for ICOW. At a 0.02 correlation, their price movements are largely independent.

Performance

IOR vs. ICOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Income Opportunity Realty Investors, Inc. (IOR) and Pacer Developed Markets International Cash Cows 100 ETF (ICOW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IOR achieves a 2.56% return, which is significantly lower than ICOW's 17.35% return.

IOR

• 1D: 0.00%
• 1M: 0.56%
• YTD: 2.56%
• 6M: 0.84%
• 1Y: -2.65%
• 3Y*: 17.84%
• 5Y*: 6.89%
• 10Y*: 9.90%

ICOW

• 1D: -0.64%
• 1M: 3.47%
• YTD: 17.35%
• 6M: 18.06%
• 1Y: 39.15%
• 3Y*: 20.17%
• 5Y*: 10.06%
• 10Y*: —

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

IOR vs. ICOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
IOR Income Opportunity Realty Investors, Inc.	2.56%	-2.50%	34.33%	11.57%	0.50%	5.38%	-14.09%	23.70%	-3.69%	18.45%
ICOW Pacer Developed Markets International Cash Cows 100 ETF	17.35%	36.95%	-2.59%	18.94%	-7.98%	11.52%	7.20%	17.91%	-16.09%	16.98%

Correlation

The correlation between IOR and ICOW is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Jun 20, 2017	0.02

Return for Risk

IOR vs. ICOW — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IOR

IOR Risk / Return Rank: 34
IOR Sharpe Ratio Rank: 37
IOR Sortino Ratio Rank: 32
IOR Omega Ratio Rank: 32
IOR Calmar Ratio Rank: 32
IOR Martin Ratio Rank: 34

ICOW

ICOW Risk / Return Rank: 84
ICOW Sharpe Ratio Rank: 86
ICOW Sortino Ratio Rank: 82
ICOW Omega Ratio Rank: 82
ICOW Calmar Ratio Rank: 86
ICOW Martin Ratio Rank: 84

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.

IOR vs. ICOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Income Opportunity Realty Investors, Inc. (IOR) and Pacer Developed Markets International Cash Cows 100 ETF (ICOW). 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.

	IOR	ICOW	Difference
Sharpe ratio: Return per unit of total volatility	-0.10	2.87	-2.96
Sortino ratio: Return per unit of downside risk	0.06	3.72	-3.66
Omega ratio: Gain probability vs. loss probability	1.01	1.50	-0.49
Calmar ratio: Return relative to maximum drawdown	-0.27	4.91	-5.18
Martin ratio: Return relative to average drawdown	-0.40	17.54	-17.94
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IOR vs. ICOW - Sharpe Ratio Comparison

The current IOR Sharpe Ratio is -0.10, which is lower than the ICOW Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of IOR and ICOW, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	IOR	ICOW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.10	2.87	-2.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.15	0.61	-0.46
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.20	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.55	-0.38

Drawdowns

IOR vs. ICOW - Drawdown Comparison

The maximum IOR drawdown since its inception was -90.94%, which is greater than ICOW's maximum drawdown of -43.49%. Use the drawdown chart below to compare losses from any high point for IOR and ICOW.

Drawdown Indicators

	IOR	ICOW	Difference
Max Drawdown Largest peak-to-trough decline	-90.94%	-43.49%	-47.45%
Max Drawdown (1Y) Largest decline over 1 year	-9.91%	-8.02%	-1.89%
Max Drawdown (3Y) Largest decline over 3 years	-17.40%	-14.81%	-2.59%
Max Drawdown (5Y) Largest decline over 5 years	-33.88%	-28.48%	-5.40%
Max Drawdown (10Y) Largest decline over 10 years	-44.53%	—	—
Current Drawdown Current decline from peak	-7.60%	-0.64%	-6.96%
Average Drawdown Average peak-to-trough decline	-32.85%	-7.59%	-25.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.61%	2.24%	+4.37%

Volatility

IOR vs. ICOW - Volatility Comparison

The current volatility for Income Opportunity Realty Investors, Inc. (IOR) is 2.03%, while Pacer Developed Markets International Cash Cows 100 ETF (ICOW) has a volatility of 4.41%. This indicates that IOR experiences smaller price fluctuations and is considered to be less risky than ICOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IOR	ICOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.03%	4.41%	-2.38%
Volatility (6M) Calculated over the trailing 6-month period	21.45%	10.59%	+10.86%
Volatility (1Y) Calculated over the trailing 1-year period	27.61%	13.73%	+13.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.92%	16.64%	+29.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.64%	18.47%	+30.17%

Dividends

IOR vs. ICOW - Dividend Comparison

IOR has not paid dividends to shareholders, while ICOW's dividend yield for the trailing twelve months is around 2.12%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICOW Pacer Developed Markets International Cash Cows 100 ETF	2.12%	3.03%	4.39%	3.61%	5.26%	2.11%	2.46%	3.10%	2.61%	0.80%
IOR Income Opportunity Realty Investors, Inc.	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IOR and ICOW in my portfolio?

IOR and ICOW have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IOR or ICOW?

ICOW has higher volatility (4.41%) compared to IOR (2.03%). In terms of maximum drawdown, IOR dropped -90.94% vs ICOW's -43.49%.

Which has better risk-adjusted returns?

ICOW currently has the higher Sharpe Ratio (2.87 vs -0.10), 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.