PATN vs. ENHI

Last updated Jun 23, 2026

PATN (Pacer Nasdaq International Patent Leaders ETF) and ENHI (iShares Enhanced International Active ETF) are both Foreign Large Cap Equities funds. PATN is passively managed, while ENHI is actively managed. A 0.77 correlation means they provide meaningful diversification when combined. PATN charges 0.65%/yr vs 0.27%/yr for ENHI.

Performance

PATN vs. ENHI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Nasdaq International Patent Leaders ETF (PATN) and iShares Enhanced International Active ETF (ENHI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PATN

• 1D: 0.18%
• 1M: 9.70%
• YTD: 42.01%
• 6M: 43.79%
• 1Y: 75.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ENHI

• 1D: 0.06%
• 1M: 1.95%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PATN vs. ENHI - Yearly Performance Comparison

	2026 (YTD)
PATN Pacer Nasdaq International Patent Leaders ETF	28.51%
ENHI iShares Enhanced International Active ETF	9.76%

Correlation

The correlation between PATN and ENHI is 0.77, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Mar 12, 2026	0.77

Return for Risk

PATN vs. ENHI — Risk / Return Rank

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

PATN

PATN Risk / Return Rank: 91
PATN Sharpe Ratio Rank: 93
PATN Sortino Ratio Rank: 90
PATN Omega Ratio Rank: 91
PATN Calmar Ratio Rank: 90
PATN Martin Ratio Rank: 91

ENHI

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

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.

PATN vs. ENHI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Nasdaq International Patent Leaders ETF (PATN) and iShares Enhanced International Active ETF (ENHI). 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.

	PATN	ENHI	Difference
Sharpe ratio: Return per unit of total volatility	3.27	—	—
Sortino ratio: Return per unit of downside risk	3.97	—	—
Omega ratio: Gain probability vs. loss probability	1.58	—	—
Calmar ratio: Return relative to maximum drawdown	5.29	—	—
Martin ratio: Return relative to average drawdown	20.66	—	—

Drawdowns

PATN vs. ENHI - Drawdown Comparison

The maximum PATN drawdown since its inception was -16.77%, which is greater than ENHI's maximum drawdown of -5.63%. Use the drawdown chart below to compare losses from any high point for PATN and ENHI.

Drawdown Indicators

	PATN	ENHI	Difference
Max Drawdown Largest peak-to-trough decline	-16.77%	-5.63%	-11.14%
Max Drawdown (1Y) Largest decline over 1 year	-14.40%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.16%	-1.41%	-1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.68%	—	—

Volatility

Volatility by Period

	PATN	ENHI	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.59%	—	—
Volatility (6M) Calculated over the trailing 6-month period	20.64%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	23.34%	22.11%	+1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.92%	22.11%	-0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.92%	22.11%	-0.19%

PATN vs. ENHI - Expense Ratio Comparison

PATN has a 0.65% expense ratio, which is higher than ENHI's 0.27% expense ratio.

Dividends

PATN vs. ENHI - Dividend Comparison

PATN's dividend yield for the trailing twelve months is around 1.53%, more than ENHI's 1.19% yield.

Position	TTM	2025	2024
ENHI iShares Enhanced International Active ETF	1.19%	0.00%	0.00%
PATN Pacer Nasdaq International Patent Leaders ETF	1.53%	2.25%	0.30%

Frequently Asked Questions

Can I hold both PATN and ENHI in my portfolio?

PATN and ENHI have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, PATN or ENHI?

On fees, ENHI is cheaper at 0.27% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, PATN or ENHI?

ENHI is cheaper with a 0.27% expense ratio, compared with 0.65% for PATN.

Which ETF pays a higher dividend yield, PATN or ENHI?

PATN has the higher dividend yield at 1.53%, compared with 1.19% for ENHI.

What is the main difference between PATN and ENHI?

They also come from different issuers: Pacer and iShares. Their fees differ too: 0.65% for PATN and 0.27% for ENHI.