MDISX vs. GCOW

Last updated Aug 1, 2026

MDISX (Franklin Mutual Global Discovery Fund) and GCOW (Pacer Global Cash Cows Dividend ETF) are both funds - MDISX is a Global Equities fund managed by Franklin Templeton, while GCOW is a Large Cap Value Equities fund tracking the Pacer Global Cash Cows Dividends Index. Over the past 10 years, MDISX returned 9.06%/yr vs 9.89%/yr for GCOW. Their correlation of 0.82 means they have usually moved in the same direction. MDISX charges 0.95%/yr vs 0.60%/yr for GCOW.

Performance

MDISX vs. GCOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Mutual Global Discovery Fund (MDISX) and Pacer Global Cash Cows Dividend ETF (GCOW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MDISX achieves a 7.51% return, which is significantly lower than GCOW's 14.77% return. Over the past 10 years, MDISX has underperformed GCOW with an annualized return of 9.06%, while GCOW has yielded a comparatively higher 9.89% annualized return.

MDISX

• 1D: 0.67%
• 1M: 3.76%
• 6M: 4.29%
• YTD: 7.51%
• 1Y: 20.26%
• 3Y*: 14.14%
• 5Y*: 10.89%
• 10Y*: 9.06%
• ALL TIME*: 10.47%

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%

*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)
GCOW Pacer Global Cash Cows Dividend ETF	$12.71M	$12.72M	$12.45M
MDISX Franklin Mutual Global Discovery Fund	$0.00	$0.00	$0.00

MDISX vs. GCOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDISX Franklin Mutual Global Discovery Fund	7.51%	23.75%	6.38%	20.48%	-4.73%	19.60%	-4.38%	24.74%	-10.86%	7.22%
GCOW Pacer Global Cash Cows Dividend ETF	14.77%	27.34%	3.52%	13.95%	5.49%	14.58%	-4.33%	17.81%	-7.99%	20.71%

Correlation

The correlation between MDISX and GCOW is 0.66, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.66
Correlation (3Y) Balances recent behavior with more history.	0.76
Correlation (5Y) Shows whether the relationship held over a longer period.	0.80
Correlation (10Y) Provides a long-term view across more market conditions.	0.82
Correlation (All Time) Calculated using the full available price history since Feb 23, 2016	0.82

The correlation between MDISX and GCOW shifts across timeframes, from 0.66 (1 year) to 0.82 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MDISX vs. GCOW — Risk / Return Rank

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

MDISX

MDISX Risk / Return Rank: 55
MDISX Sharpe Ratio Rank: 64
MDISX Sortino Ratio Rank: 64
MDISX Omega Ratio Rank: 63
MDISX Calmar Ratio Rank: 47
MDISX Martin Ratio Rank: 36

GCOW

GCOW Risk / Return Rank: 90
GCOW Sharpe Ratio Rank: 94
GCOW Sortino Ratio Rank: 94
GCOW Omega Ratio Rank: 93
GCOW Calmar Ratio Rank: 88
GCOW Martin Ratio Rank: 83

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.

MDISX vs. GCOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Mutual Global Discovery Fund (MDISX) 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.

	MDISX	GCOW	Difference
Sharpe ratio: Return per unit of total volatility	1.51	2.60	-1.09
Sortino ratio: Return per unit of downside risk	2.18	3.73	-1.55
Omega ratio: Gain probability vs. loss probability	1.28	1.46	-0.18
Calmar ratio: Return relative to maximum drawdown	1.78	3.61	-1.82
Martin ratio: Return relative to average drawdown	5.21	11.15	-5.94

MDISX vs. GCOW - Sharpe Ratio Comparison

The current MDISX Sharpe Ratio is 1.51, which is lower than the GCOW Sharpe Ratio of 2.60. The chart below compares the historical Sharpe Ratios of MDISX and GCOW, 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

MDISX vs. GCOW - Drawdown Comparison

The maximum MDISX drawdown since its inception was -40.15%, which is greater than GCOW's maximum drawdown of -37.64%. Use the drawdown chart below to compare losses from any high point for MDISX and GCOW.

Drawdown Indicators

	MDISX	GCOW	Difference
Max Drawdown Largest peak-to-trough decline	-40.15%	-37.64%	-2.51%
Max Drawdown (1Y) Largest decline over 1 year	-10.09%	-7.83%	-2.26%
Max Drawdown (3Y) Largest decline over 3 years	-12.93%	-12.35%	-0.58%
Max Drawdown (5Y) Largest decline over 5 years	-21.57%	-21.48%	-0.09%
Max Drawdown (10Y) Largest decline over 10 years	-40.15%	-37.64%	-2.51%
Current Drawdown Current decline from peak	0.00%	-0.73%	+0.73%
Average Drawdown Average peak-to-trough decline	-5.26%	-5.82%	+0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.45%	2.53%	+0.92%

Volatility

MDISX vs. GCOW - Volatility Comparison

The current volatility for Franklin Mutual Global Discovery Fund (MDISX) is 3.28%, while Pacer Global Cash Cows Dividend ETF (GCOW) has a volatility of 3.59%. This indicates that MDISX 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.

Volatility by Period

	MDISX	GCOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	3.59%	-0.31%
Volatility (6M) Calculated over the trailing 6-month period	9.43%	8.54%	+0.89%
Volatility (1Y) Calculated over the trailing 1-year period	11.95%	10.99%	+0.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.64%	13.55%	+2.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.01%	16.00%	+1.01%

MDISX vs. GCOW - Expense Ratio Comparison

MDISX has a 0.95% expense ratio, which is higher than GCOW's 0.60% expense ratio.

Dividends

MDISX vs. GCOW - Dividend Comparison

MDISX's dividend yield for the trailing twelve months is around 9.82%, more than GCOW's 4.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%
MDISX Franklin Mutual Global Discovery Fund	9.82%	10.55%	12.84%	7.12%	10.29%	8.75%	3.50%	7.21%	7.50%	2.97%	4.13%	7.77%

Frequently Asked Questions

Can I hold both MDISX and GCOW in my portfolio?

MDISX and GCOW have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MDISX or GCOW?

GCOW has higher volatility (3.59%) compared to MDISX (3.28%). In terms of maximum drawdown, MDISX dropped -40.15% vs GCOW's -37.64%.

Which has better risk-adjusted returns?

GCOW currently has the higher Sharpe Ratio (2.60 vs 1.51), 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.