KOKU vs. GCOW
KOKU (Xtrackers MSCI Kokusai Equity ETF) and GCOW (Pacer Global Cash Cows Dividend ETF) are both exchange-traded funds - KOKU is a Large Cap Growth Equities fund tracking the MSCI Kokusai Index (World ex Japan), while GCOW is a Large Cap Value Equities fund tracking the Pacer Global Cash Cows Dividends Index. Both are passively managed. Over the past 5 years, KOKU returned 11.65%/yr vs 13.35%/yr for GCOW. Their 0.63 correlation means they have sometimes moved together and sometimes differently. KOKU charges 0.09%/yr vs 0.60%/yr for GCOW.
Performance
KOKU vs. GCOW - Performance Comparison
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Returns By Period
In the year-to-date period, KOKU achieves a 10.22% return, which is significantly lower than GCOW's 14.77% return.
KOKU
- 1D
- 0.54%
- 1M
- 1.81%
- 6M
- 8.30%
- YTD
- 10.22%
- 1Y
- 21.94%
- 3Y*
- 18.77%
- 5Y*
- 11.65%
- 10Y*
- —
- ALL TIME*
- 18.28%
GCOW
- 1D
- -0.73%
- 1M
- 5.47%
- 6M
- 7.25%
- YTD
- 14.77%
- 1Y
- 27.77%
- 3Y*
- 16.05%
- 5Y*
- 13.35%
- 10Y*
- 9.89%
- ALL TIME*
- 10.57%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $12.71M | $12.72M | $12.45M | |
| $13.64K | $42.79K | $42.71K |
KOKU vs. GCOW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
KOKU Xtrackers MSCI Kokusai Equity ETF | 10.22% | 21.45% | 19.45% | 24.23% | -17.83% | 23.84% | 42.72% |
GCOW Pacer Global Cash Cows Dividend ETF | 14.77% | 27.34% | 3.52% | 13.95% | 5.49% | 14.58% | 27.60% |
Correlation
The correlation between KOKU and GCOW is 0.32, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.32 |
Correlation (3Y) Balances recent behavior with more history. | 0.48 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.61 |
Correlation (All Time) Calculated using the full available price history since Apr 8, 2020 | 0.63 |
Over the past year, the correlation between KOKU and GCOW has dropped to 0.32 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.
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Return for Risk
KOKU vs. GCOW — Risk / Return Rank
KOKU
GCOW
KOKU vs. GCOW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI Kokusai Equity ETF (KOKU) and Pacer Global Cash Cows Dividend ETF (GCOW). 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.
| KOKU | GCOW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.00 | ||
| Sortino ratioReturn per unit of downside risk | -1.50 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.46 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 2.25 | 3.61 | -1.36 |
| Martin ratioReturn relative to average drawdown | 9.55 | 11.15 | -1.60 |
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Drawdowns
KOKU vs. GCOW - Drawdown Comparison
The maximum KOKU drawdown since its inception was -25.77%, smaller than the maximum GCOW drawdown of -37.64%. Use the drawdown chart below to compare losses from any high point for KOKU and GCOW.
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Drawdown Indicators
| KOKU | GCOW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.77% | -37.64% | +11.87% |
Max Drawdown (1Y)Largest decline over 1 year | -9.04% | -7.83% | -1.21% |
Max Drawdown (3Y)Largest decline over 3 years | -17.73% | -12.35% | -5.38% |
Max Drawdown (5Y)Largest decline over 5 years | -25.77% | -21.48% | -4.29% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.64% | — |
Current DrawdownCurrent decline from peak | -0.34% | -0.73% | +0.39% |
Average DrawdownAverage peak-to-trough decline | -4.75% | -5.82% | +1.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.13% | 2.53% | -0.40% |
Volatility
KOKU vs. GCOW - Volatility Comparison
The current volatility for Xtrackers MSCI Kokusai Equity ETF (KOKU) is 3.00%, while Pacer Global Cash Cows Dividend ETF (GCOW) has a volatility of 3.59%. This indicates that KOKU experiences smaller price fluctuations and is considered to be less risky than GCOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KOKU | GCOW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.00% | 3.59% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 10.22% | 8.54% | +1.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.73% | 10.99% | +1.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.48% | 13.55% | +2.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.74% | 16.00% | +0.74% |
KOKU vs. GCOW - Expense Ratio Comparison
KOKU has a 0.09% expense ratio, which is lower than GCOW's 0.60% expense ratio.
Dividends
KOKU vs. GCOW - Dividend Comparison
KOKU's dividend yield for the trailing twelve months is around 1.42%, less than GCOW's 4.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GCOW Pacer Global Cash Cows Dividend ETF | 4.58% | 4.06% | 5.14% | 5.28% | 4.39% | 4.23% | 4.12% | 4.40% | 3.94% | 2.79% | 1.95% |
KOKU Xtrackers MSCI Kokusai Equity ETF | 1.42% | 1.48% | 1.63% | 1.76% | 1.98% | 1.89% | 0.55% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KOKU and GCOW have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GCOW has higher volatility (3.59%) compared to KOKU (3.00%). In terms of maximum drawdown, KOKU dropped -25.77% vs GCOW's -37.64%.
On 5-year performance, GCOW leads with 13.35% vs 11.65% for KOKU. On fees, KOKU is cheaper at 0.09% per year. On volatility, KOKU has been the lower-risk option at 3.00%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GCOW has performed better with a 13.35% return vs 11.65%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
KOKU is cheaper with a 0.09% expense ratio, compared with 0.60% for GCOW.
GCOW has the higher dividend yield at 4.58%, compared with 1.42% for KOKU.
KOKU is categorized as Large Cap Growth Equities, while GCOW is Large Cap Value Equities. KOKU tracks MSCI Kokusai Index (World ex Japan), while GCOW tracks Pacer Global Cash Cows Dividends Index. They also come from different issuers: Deutsche Bank and Pacer. Their fees differ too: 0.09% for KOKU and 0.60% for GCOW.
GCOW currently has the higher Sharpe Ratio (2.60 vs 1.60), 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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