KEMQ vs. ECOW

Last updated Jul 17, 2026

KEMQ (KraneShares Emerging Markets Consumer Technology Index ETF) and ECOW (Pacer Emerging Markets Cash Cows 100 ETF) are both Emerging Markets Equities funds - KEMQ tracks the Solactive Emerging Markets Consumer Technology Index while ECOW tracks the Pacer Emerging Markets Cash Cows 100 Index. Both are passively managed. Over the past 5 years, KEMQ returned -2.92%/yr vs 7.05%/yr for ECOW. A 0.62 correlation means they provide meaningful diversification when combined. KEMQ charges 0.60%/yr vs 0.70%/yr for ECOW.

Performance

KEMQ vs. ECOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) 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, KEMQ achieves a 3.99% return, which is significantly lower than ECOW's 12.74% return.

KEMQ

• 1D: -1.62%
• 1M: 1.38%
• 6M: -4.06%
• YTD: 3.99%
• 1Y: 19.20%
• 3Y*: 21.23%
• 5Y*: -2.92%
• 10Y*: —

ECOW

• 1D: 0.70%
• 1M: 1.60%
• 6M: 8.22%
• YTD: 12.74%
• 1Y: 30.43%
• 3Y*: 17.04%
• 5Y*: 7.05%
• 10Y*: —

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

KEMQ vs. ECOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF	3.99%	56.28%	13.81%	0.77%	-38.09%	-27.31%	39.26%	3.06%
ECOW Pacer Emerging Markets Cash Cows 100 ETF	12.74%	32.50%	3.17%	15.79%	-19.28%	7.47%	-2.51%	10.37%

Correlation

The correlation between KEMQ and ECOW is 0.63, 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	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since May 6, 2019	0.62

The correlation between KEMQ and ECOW has been stable across timeframes, ranging from 0.62 to 0.71 - a consistent structural relationship.

KEMQ vs. ECOW - Sectors Allocation Comparison

Sectors	KEMQ	ECOW
Technology	40.2%	6.8%
Consumer Cyclical	33.0%	14.7%
Communication Services	15.4%	12.8%
Consumer Defensive	3.2%	13.1%
Healthcare	2.8%	3.6%
Financial Services	2.7%	-
Industrials	2.1%	9.3%
Basic Materials	-	11.1%
Energy	-	8.6%
Real Estate	-	-
Utilities	-	7.2%

Return for Risk

KEMQ vs. ECOW — Risk / Return Rank

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

KEMQ

KEMQ Risk / Return Rank: 23
KEMQ Sharpe Ratio Rank: 24
KEMQ Sortino Ratio Rank: 24
KEMQ Omega Ratio Rank: 24
KEMQ Calmar Ratio Rank: 23
KEMQ Martin Ratio Rank: 23

ECOW

ECOW Risk / Return Rank: 78
ECOW Sharpe Ratio Rank: 81
ECOW Sortino Ratio Rank: 78
ECOW Omega Ratio Rank: 79
ECOW Calmar Ratio Rank: 85
ECOW Martin Ratio Rank: 70

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.

KEMQ vs. ECOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) 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.

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.

	KEMQ	ECOW	Difference
Sharpe ratio: Return per unit of total volatility	0.70	2.06	-1.36
Sortino ratio: Return per unit of downside risk	1.11	2.79	-1.68
Omega ratio: Gain probability vs. loss probability	1.14	1.37	-0.23
Calmar ratio: Return relative to maximum drawdown	0.88	3.66	-2.78
Martin ratio: Return relative to average drawdown	2.20	9.98	-7.78

KEMQ vs. ECOW - Sharpe Ratio Comparison

The current KEMQ Sharpe Ratio is 0.70, which is lower than the ECOW Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of KEMQ 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.

Drawdowns

KEMQ vs. ECOW - Drawdown Comparison

The maximum KEMQ drawdown since its inception was -70.72%, which is greater than ECOW's maximum drawdown of -40.27%. Use the drawdown chart below to compare losses from any high point for KEMQ and ECOW.

Drawdown Indicators

	KEMQ	ECOW	Difference
Max Drawdown Largest peak-to-trough decline	-70.72%	-40.27%	-30.45%
Max Drawdown (1Y) Largest decline over 1 year	-21.94%	-8.35%	-13.59%
Max Drawdown (3Y) Largest decline over 3 years	-21.94%	-18.77%	-3.17%
Max Drawdown (5Y) Largest decline over 5 years	-63.85%	-33.30%	-30.55%
Current Drawdown Current decline from peak	-30.15%	-3.83%	-26.32%
Average Drawdown Average peak-to-trough decline	-35.60%	-10.98%	-24.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.75%	3.06%	+5.69%

Volatility

KEMQ vs. ECOW - Volatility Comparison

KraneShares Emerging Markets Consumer Technology Index ETF (KEMQ) has a higher volatility of 8.09% compared to Pacer Emerging Markets Cash Cows 100 ETF (ECOW) at 4.23%. This indicates that KEMQ'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.

Volatility by Period

	KEMQ	ECOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.09%	4.23%	+3.86%
Volatility (6M) Calculated over the trailing 6-month period	22.78%	12.07%	+10.71%
Volatility (1Y) Calculated over the trailing 1-year period	27.55%	14.85%	+12.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.17%	17.78%	+14.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.63%	20.08%	+9.55%

KEMQ vs. ECOW - Expense Ratio Comparison

KEMQ has a 0.60% expense ratio, which is lower than ECOW's 0.70% expense ratio.

Dividends

KEMQ vs. ECOW - Dividend Comparison

KEMQ's dividend yield for the trailing twelve months is around 5.06%, more than ECOW's 4.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ECOW Pacer Emerging Markets Cash Cows 100 ETF	4.45%	5.20%	7.35%	5.46%	7.50%	4.39%	3.35%	8.08%
KEMQ KraneShares Emerging Markets Consumer Technology Index ETF	5.06%	5.27%	0.73%	0.29%	0.00%	0.28%	2.28%	1.76%

Frequently Asked Questions

Can I hold both KEMQ and ECOW in my portfolio?

KEMQ and ECOW have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KEMQ or ECOW?

KEMQ has higher volatility (8.09%) compared to ECOW (4.23%). In terms of maximum drawdown, KEMQ dropped -70.72% vs ECOW's -40.27%.

Which ETF is better, KEMQ or ECOW?

On 5-year performance, ECOW leads with 7.05% vs -2.92% for KEMQ. On fees, KEMQ is cheaper at 0.60% per year. On volatility, ECOW has been the lower-risk option at 4.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KEMQ or ECOW?

Over the 5-year period, ECOW has performed better with a 7.05% return vs -2.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KEMQ or ECOW?

KEMQ is cheaper with a 0.60% expense ratio, compared with 0.70% for ECOW.

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

KEMQ has the higher dividend yield at 5.06%, compared with 4.45% for ECOW.

What is the main difference between KEMQ and ECOW?

KEMQ tracks Solactive Emerging Markets Consumer Technology Index, while ECOW tracks Pacer Emerging Markets Cash Cows 100 Index. They also come from different issuers: CICC and Pacer. Their fees differ too: 0.60% for KEMQ and 0.70% for ECOW.

Which has better risk-adjusted returns?

ECOW currently has the higher Sharpe Ratio (2.06 vs 0.70), 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.