MCOW vs. IDHQ

Last updated Aug 1, 2026

MCOW (Pacer S&P MidCap 400 Quality FCF Aristocrats ETF) and IDHQ (Invesco S&P International Developed High Quality ETF) are both Quality Factor funds - MCOW tracks the S&P MidCap 400 Quality FCF Aristocrats Index while IDHQ tracks the IDHQ-US - S&P Quality Developed Ex-U.S. LargeMidCap Index. Both are passively managed. Their 0.65 correlation means they have sometimes moved together and sometimes differently. MCOW charges 0.49%/yr vs 0.29%/yr for IDHQ.

Performance

MCOW vs. IDHQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer S&P MidCap 400 Quality FCF Aristocrats ETF (MCOW) and Invesco S&P International Developed High Quality ETF (IDHQ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MCOW achieves a 8.57% return, which is significantly lower than IDHQ's 26.27% return.

MCOW

• 1D: 0.18%
• 1M: -0.04%
• 6M: 7.96%
• YTD: 8.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

IDHQ

• 1D: -1.04%
• 1M: -0.18%
• 6M: 17.73%
• YTD: 26.27%
• 1Y: 41.32%
• 3Y*: 19.52%
• 5Y*: 9.70%
• 10Y*: 10.64%
• ALL TIME*: 5.32%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IDHQ Invesco S&P International Developed High Quality ETF	$5.89M	$6.19M	$5.51M
MCOW Pacer S&P MidCap 400 Quality FCF Aristocrats ETF	$5.40K	$63.77K	$46.18K

MCOW vs. IDHQ - Yearly Performance Comparison

	2026 (YTD)	2025
MCOW Pacer S&P MidCap 400 Quality FCF Aristocrats ETF	8.57%	-3.62%
IDHQ Invesco S&P International Developed High Quality ETF	26.27%	7.38%

Correlation

The correlation between MCOW and IDHQ is 0.65, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 28, 2025	0.65

Return for Risk

MCOW vs. IDHQ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MCOW

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

IDHQ

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

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MCOW vs. IDHQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer S&P MidCap 400 Quality FCF Aristocrats ETF (MCOW) and Invesco S&P International Developed High Quality ETF (IDHQ). 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.

	MCOW	IDHQ	Difference
Sharpe ratio: Return per unit of total volatility	—	1.97	—
Sortino ratio: Return per unit of downside risk	—	2.77	—
Omega ratio: Gain probability vs. loss probability	—	1.36	—
Calmar ratio: Return relative to maximum drawdown	—	3.03	—
Martin ratio: Return relative to average drawdown	—	12.14	—

Drawdowns

MCOW vs. IDHQ - Drawdown Comparison

The maximum MCOW drawdown since its inception was -15.02%, smaller than the maximum IDHQ drawdown of -73.84%. Use the drawdown chart below to compare losses from any high point for MCOW and IDHQ.

Drawdown Indicators

	MCOW	IDHQ	Difference
Max Drawdown Largest peak-to-trough decline	-15.02%	-73.84%	+58.82%
Max Drawdown (1Y) Largest decline over 1 year	—	-13.44%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.07%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.54%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.54%	—
Current Drawdown Current decline from peak	-1.87%	-1.04%	-0.83%
Average Drawdown Average peak-to-trough decline	-4.19%	-21.03%	+16.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.35%	—

Volatility

Volatility by Period

	MCOW	IDHQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.17%	—
Volatility (6M) Calculated over the trailing 6-month period	—	18.92%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.51%	20.74%	-3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.51%	17.85%	-0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.51%	17.97%	-0.46%

MCOW vs. IDHQ - Expense Ratio Comparison

MCOW has a 0.49% expense ratio, which is higher than IDHQ's 0.29% expense ratio.

Dividends

MCOW vs. IDHQ - Dividend Comparison

MCOW's dividend yield for the trailing twelve months is around 0.21%, less than IDHQ's 2.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IDHQ Invesco S&P International Developed High Quality ETF	2.01%	2.46%	2.41%	2.52%	3.33%	2.10%	1.60%	2.10%	2.67%	1.68%	2.36%	1.71%
MCOW Pacer S&P MidCap 400 Quality FCF Aristocrats ETF	0.21%	0.11%	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 MCOW and IDHQ in my portfolio?

MCOW and IDHQ have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MCOW or IDHQ?

On fees, IDHQ is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MCOW or IDHQ?

IDHQ is cheaper with a 0.29% expense ratio, compared with 0.49% for MCOW.

Which ETF pays a higher dividend yield, MCOW or IDHQ?

IDHQ has the higher dividend yield at 2.01%, compared with 0.21% for MCOW.

What is the main difference between MCOW and IDHQ?

MCOW tracks S&P MidCap 400 Quality FCF Aristocrats Index, while IDHQ tracks IDHQ-US - S&P Quality Developed Ex-U.S. LargeMidCap Index. They also come from different issuers: Pacer and Invesco. Their fees differ too: 0.49% for MCOW and 0.29% for IDHQ.