JPEM vs. ECOW

Last updated Jun 5, 2026

JPEM (J.P. Morgan Diversified Return Emerging Markets Equity ETF) and ECOW (Pacer Emerging Markets Cash Cows 100 ETF) are both Emerging Markets Equities funds - JPEM tracks the JPMorgan Diversified Factor Emerging Markets Equity Index while ECOW tracks the Pacer Emerging Markets Cash Cows 100 Index. Both are passively managed. Over the past 5 years, JPEM returned 6.05%/yr vs 6.00%/yr for ECOW. A 0.76 correlation means they provide meaningful diversification when combined. JPEM charges 0.44%/yr vs 0.70%/yr for ECOW.

Performance

JPEM vs. ECOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in J.P. Morgan Diversified Return Emerging Markets Equity ETF (JPEM) and Pacer Emerging Markets Cash Cows 100 ETF (ECOW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JPEM achieves a 7.27% return, which is significantly lower than ECOW's 12.49% return.

JPEM

• 1D: 0.07%
• 1M: -0.46%
• YTD: 7.27%
• 6M: 8.61%
• 1Y: 22.05%
• 3Y*: 13.62%
• 5Y*: 6.05%
• 10Y*: 7.80%

ECOW

• 1D: -0.53%
• 1M: -2.55%
• YTD: 12.49%
• 6M: 11.60%
• 1Y: 34.04%
• 3Y*: 19.54%
• 5Y*: 6.00%
• 10Y*: —

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

JPEM vs. ECOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
JPEM J.P. Morgan Diversified Return Emerging Markets Equity ETF	7.27%	22.90%	4.23%	11.01%	-9.03%	8.11%	-0.46%	7.65%
ECOW Pacer Emerging Markets Cash Cows 100 ETF	12.49%	32.50%	3.17%	15.79%	-19.28%	7.47%	-2.51%	10.37%

Correlation

The correlation between JPEM and ECOW is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since May 7, 2019	0.76

The correlation between JPEM and ECOW shifts across timeframes, from 0.76 (all time) to 0.87 (1 year), reflecting how their relationship changes across market environments.

JPEM vs. ECOW - Sectors Allocation Comparison

Sectors	JPEM	ECOW
Financial Services	19.1%	-
Industrials	13.1%	15.5%
Basic Materials	11.3%	9.6%
Consumer Cyclical	10.0%	12.5%
Utilities	9.2%	7.9%
Consumer Defensive	8.6%	8.5%
Communication Services	8.4%	18.4%
Energy	7.5%	16.1%
Technology	6.7%	9.8%
Healthcare	4.3%	1.6%
Real Estate	1.8%	-

Return for Risk

JPEM vs. ECOW — Risk / Return Rank

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

JPEM

JPEM Risk / Return Rank: 49
JPEM Sharpe Ratio Rank: 50
JPEM Sortino Ratio Rank: 49
JPEM Omega Ratio Rank: 52
JPEM Calmar Ratio Rank: 44
JPEM Martin Ratio Rank: 48

ECOW

ECOW Risk / Return Rank: 76
ECOW Sharpe Ratio Rank: 76
ECOW Sortino Ratio Rank: 71
ECOW Omega Ratio Rank: 75
ECOW Calmar Ratio Rank: 80
ECOW Martin Ratio Rank: 77

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.

JPEM vs. ECOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for J.P. Morgan Diversified Return Emerging Markets Equity ETF (JPEM) 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.

	JPEM	ECOW	Difference
Sharpe ratio: Return per unit of total volatility	1.71	2.41	-0.70
Sortino ratio: Return per unit of downside risk	2.38	3.19	-0.82
Omega ratio: Gain probability vs. loss probability	1.32	1.44	-0.12
Calmar ratio: Return relative to maximum drawdown	2.14	4.10	-1.95
Martin ratio: Return relative to average drawdown	8.02	14.73	-6.71
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JPEM vs. ECOW - Sharpe Ratio Comparison

The current JPEM Sharpe Ratio is 1.71, which is comparable to the ECOW Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of JPEM and ECOW, 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

	JPEM	ECOW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	2.41	-0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.34	+0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.37	-0.04

Drawdowns

JPEM vs. ECOW - Drawdown Comparison

The maximum JPEM drawdown since its inception was -40.22%, roughly equal to the maximum ECOW drawdown of -40.27%. Use the drawdown chart below to compare losses from any high point for JPEM and ECOW.

Drawdown Indicators

	JPEM	ECOW	Difference
Max Drawdown Largest peak-to-trough decline	-40.22%	-40.27%	+0.05%
Max Drawdown (1Y) Largest decline over 1 year	-10.32%	-8.35%	-1.97%
Max Drawdown (3Y) Largest decline over 3 years	-14.30%	-18.77%	+4.47%
Max Drawdown (5Y) Largest decline over 5 years	-21.57%	-33.67%	+12.10%
Max Drawdown (10Y) Largest decline over 10 years	-40.22%	—	—
Current Drawdown Current decline from peak	-3.01%	-4.05%	+1.04%
Average Drawdown Average peak-to-trough decline	-9.47%	-11.06%	+1.59%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.76%	2.32%	+0.44%

Volatility

JPEM vs. ECOW - Volatility Comparison

J.P. Morgan Diversified Return Emerging Markets Equity ETF (JPEM) and Pacer Emerging Markets Cash Cows 100 ETF (ECOW) have volatilities of 4.38% and 4.34%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JPEM	ECOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.38%	4.34%	+0.04%
Volatility (6M) Calculated over the trailing 6-month period	11.22%	10.89%	+0.33%
Volatility (1Y) Calculated over the trailing 1-year period	12.96%	14.21%	-1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.49%	17.65%	-4.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.04%	20.13%	-3.09%

JPEM vs. ECOW - Expense Ratio Comparison

JPEM has a 0.44% expense ratio, which is lower than ECOW's 0.70% expense ratio.

Dividends

JPEM vs. ECOW - Dividend Comparison

JPEM's dividend yield for the trailing twelve months is around 4.40%, less than ECOW's 4.98% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ECOW Pacer Emerging Markets Cash Cows 100 ETF	4.98%	5.20%	7.35%	5.46%	7.50%	4.39%	3.35%	8.08%	0.00%	0.00%	0.00%	0.00%
JPEM J.P. Morgan Diversified Return Emerging Markets Equity ETF	4.40%	4.65%	5.12%	4.46%	4.71%	4.40%	2.85%	3.47%	2.79%	2.14%	1.28%	3.22%

Frequently Asked Questions

Can I hold both JPEM and ECOW in my portfolio?

JPEM and ECOW have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JPEM or ECOW?

JPEM has higher volatility (4.38%) compared to ECOW (4.34%). In terms of maximum drawdown, JPEM dropped -40.22% vs ECOW's -40.27%.

Which ETF is better, JPEM or ECOW?

On 5-year performance, JPEM leads with 6.05% vs 6.00% for ECOW. On fees, JPEM is cheaper at 0.44% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JPEM or ECOW?

Over the 5-year period, JPEM has performed better with a 6.05% return vs 6.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JPEM or ECOW?

JPEM is cheaper with a 0.44% expense ratio, compared with 0.70% for ECOW.

Which ETF pays a higher dividend yield, JPEM or ECOW?

ECOW has the higher dividend yield at 4.98%, compared with 4.40% for JPEM.

What is the main difference between JPEM and ECOW?

JPEM tracks JPMorgan Diversified Factor Emerging Markets Equity Index, while ECOW tracks Pacer Emerging Markets Cash Cows 100 Index. They also come from different issuers: JPMorgan and Pacer. Their fees differ too: 0.44% for JPEM and 0.70% for ECOW.

Which has better risk-adjusted returns?

ECOW currently has the higher Sharpe Ratio (2.41 vs 1.71), 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.