PAMC vs. CALF

Last updated Jul 14, 2026

PAMC (Pacer Lunt MidCap Multi-Factor Alternator ETF) and CALF (Pacer US Small Cap Cash Cows ETF) are both exchange-traded funds - PAMC is a Mid Cap Growth Equities fund tracking the Lunt Capital U.S. MidCap Multi-Factor Rotation Index, while CALF is a Small Cap Value Equities fund tracking the Pacer US Small Cap Cash Cows Index. Both are passively managed. Over the past 5 years, PAMC returned 9.92%/yr vs 5.43%/yr for CALF. Their correlation of 0.82 suggests significant overlap in exposure. PAMC charges 0.60%/yr vs 0.59%/yr for CALF.

Performance

PAMC vs. CALF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Lunt MidCap Multi-Factor Alternator ETF (PAMC) and Pacer US Small Cap Cash Cows ETF (CALF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAMC achieves a 15.47% return, which is significantly lower than CALF's 17.73% return.

PAMC

• 1D: -0.86%
• 1M: -2.89%
• 6M: 9.19%
• YTD: 15.47%
• 1Y: 21.99%
• 3Y*: 15.33%
• 5Y*: 9.92%
• 10Y*: —

CALF

• 1D: 0.69%
• 1M: 3.18%
• 6M: 14.07%
• YTD: 17.73%
• 1Y: 28.04%
• 3Y*: 9.15%
• 5Y*: 5.43%
• 10Y*: —

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

PAMC vs. CALF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PAMC Pacer Lunt MidCap Multi-Factor Alternator ETF	15.47%	1.54%	26.20%	19.30%	-12.15%	13.15%	34.86%
CALF Pacer US Small Cap Cash Cows ETF	17.73%	2.33%	-7.41%	35.43%	-15.20%	40.68%	39.66%

Correlation

The correlation between PAMC and CALF is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jun 25, 2020	0.82

Over the past year, the correlation between PAMC and CALF has dropped to 0.60 - well below their long-term average of 0.82, suggesting their price drivers have been diverging.

PAMC vs. CALF - Sectors Allocation Comparison

Sectors	PAMC	CALF
Industrials	25.8%	5.4%
Technology	16.1%	32.4%
Financial Services	15.8%	0.2%
Consumer Cyclical	11.8%	28.5%
Energy	9.8%	8.9%
Basic Materials	5.6%	1.6%
Real Estate	4.0%	1.5%
Consumer Defensive	3.8%	3.6%
Healthcare	3.4%	9.7%
Utilities	3.1%	-
Communication Services	0.7%	8.3%

Return for Risk

PAMC vs. CALF — Risk / Return Rank

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

PAMC

PAMC Risk / Return Rank: 47
PAMC Sharpe Ratio Rank: 40
PAMC Sortino Ratio Rank: 42
PAMC Omega Ratio Rank: 41
PAMC Calmar Ratio Rank: 54
PAMC Martin Ratio Rank: 57

CALF

CALF Risk / Return Rank: 76
CALF Sharpe Ratio Rank: 69
CALF Sortino Ratio Rank: 71
CALF Omega Ratio Rank: 66
CALF Calmar Ratio Rank: 91
CALF Martin Ratio Rank: 82

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.

PAMC vs. CALF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Lunt MidCap Multi-Factor Alternator ETF (PAMC) and Pacer US Small Cap Cash Cows ETF (CALF). 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.

	PAMC	CALF	Difference
Sharpe ratio: Return per unit of total volatility	1.16	1.77	-0.61
Sortino ratio: Return per unit of downside risk	1.76	2.58	-0.82
Omega ratio: Gain probability vs. loss probability	1.22	1.31	-0.10
Calmar ratio: Return relative to maximum drawdown	2.16	4.58	-2.42
Martin ratio: Return relative to average drawdown	7.86	12.58	-4.71

PAMC vs. CALF - Sharpe Ratio Comparison

The current PAMC Sharpe Ratio is 1.16, which is lower than the CALF Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of PAMC and CALF, 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

PAMC vs. CALF - Drawdown Comparison

The maximum PAMC drawdown since its inception was -27.04%, smaller than the maximum CALF drawdown of -47.58%. Use the drawdown chart below to compare losses from any high point for PAMC and CALF.

Drawdown Indicators

	PAMC	CALF	Difference
Max Drawdown Largest peak-to-trough decline	-27.04%	-47.58%	+20.54%
Max Drawdown (1Y) Largest decline over 1 year	-10.24%	-6.15%	-4.09%
Max Drawdown (3Y) Largest decline over 3 years	-26.07%	-34.22%	+8.15%
Max Drawdown (5Y) Largest decline over 5 years	-26.61%	-34.22%	+7.61%
Current Drawdown Current decline from peak	-3.44%	0.00%	-3.44%
Average Drawdown Average peak-to-trough decline	-7.37%	-10.63%	+3.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	2.24%	+0.56%

Volatility

PAMC vs. CALF - Volatility Comparison

Pacer Lunt MidCap Multi-Factor Alternator ETF (PAMC) and Pacer US Small Cap Cash Cows ETF (CALF) have volatilities of 4.91% and 4.71%, 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

	PAMC	CALF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.91%	4.71%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	14.14%	11.17%	+2.97%
Volatility (1Y) Calculated over the trailing 1-year period	19.02%	15.94%	+3.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.34%	23.29%	-2.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.67%	25.92%	-5.25%

PAMC vs. CALF - Expense Ratio Comparison

PAMC has a 0.60% expense ratio, which is higher than CALF's 0.59% expense ratio.

Dividends

PAMC vs. CALF - Dividend Comparison

PAMC's dividend yield for the trailing twelve months is around 1.13%, less than CALF's 1.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CALF Pacer US Small Cap Cash Cows ETF	1.17%	1.43%	1.07%	1.18%	0.85%	2.63%	0.82%	0.99%	1.39%	0.70%
PAMC Pacer Lunt MidCap Multi-Factor Alternator ETF	1.13%	1.11%	0.97%	0.69%	1.29%	0.36%	0.30%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PAMC and CALF in my portfolio?

PAMC and CALF have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAMC or CALF?

PAMC has higher volatility (4.91%) compared to CALF (4.71%). In terms of maximum drawdown, PAMC dropped -27.04% vs CALF's -47.58%.

Which ETF is better, PAMC or CALF?

On 5-year performance, PAMC leads with 9.92% vs 5.43% for CALF. On fees, CALF is cheaper at 0.59% per year. On volatility, CALF has been the lower-risk option at 4.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PAMC or CALF?

Over the 5-year period, PAMC has performed better with a 9.92% return vs 5.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PAMC or CALF?

CALF is cheaper with a 0.59% expense ratio, compared with 0.60% for PAMC.

Which ETF pays a higher dividend yield, PAMC or CALF?

CALF has the higher dividend yield at 1.17%, compared with 1.13% for PAMC.

What is the main difference between PAMC and CALF?

PAMC is categorized as Mid Cap Growth Equities, while CALF is Small Cap Value Equities. PAMC tracks Lunt Capital U.S. MidCap Multi-Factor Rotation Index, while CALF tracks Pacer US Small Cap Cash Cows Index. Their fees differ too: 0.60% for PAMC and 0.59% for CALF.

Which has better risk-adjusted returns?

CALF currently has the higher Sharpe Ratio (1.77 vs 1.16), 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.