PAWZ vs. WRND

Last updated Jul 8, 2026

PAWZ (ProShares Pet Care ETF) and WRND (IQ Global Equity R&D Leaders ETF) are both Global Equities funds - PAWZ tracks the FactSet Pet Care Index while WRND tracks the IQ Global Equity R&D Leaders Index - Benchmark TR Net. Both are passively managed. Over the past 3 years, PAWZ returned 0.04%/yr vs 20.83%/yr for WRND. A 0.67 correlation means they provide meaningful diversification when combined. PAWZ charges 0.50%/yr vs 0.18%/yr for WRND.

Performance

PAWZ vs. WRND - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Pet Care ETF (PAWZ) and IQ Global Equity R&D Leaders ETF (WRND). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PAWZ achieves a -10.10% return, which is significantly lower than WRND's 12.88% return.

PAWZ

• 1D: 0.32%
• 1M: 3.89%
• 6M: -11.01%
• YTD: -10.10%
• 1Y: -15.01%
• 3Y*: 0.04%
• 5Y*: -9.18%
• 10Y*: —

WRND

• 1D: -1.41%
• 1M: 1.13%
• 6M: 10.08%
• YTD: 12.88%
• 1Y: 29.50%
• 3Y*: 20.83%
• 5Y*: —
• 10Y*: —

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

PAWZ vs. WRND - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PAWZ ProShares Pet Care ETF	-10.10%	1.21%	3.88%	12.47%	-28.77%
WRND IQ Global Equity R&D Leaders ETF	12.88%	27.72%	13.46%	34.85%	-19.17%

Correlation

The correlation between PAWZ and WRND is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (All Time) Calculated using the full available price history since Feb 8, 2022	0.67

Over the past year, the correlation between PAWZ and WRND has dropped to 0.41 - well below their long-term average of 0.67, suggesting their price drivers have been diverging.

PAWZ vs. WRND - Sectors Allocation Comparison

Sectors	PAWZ	WRND
Healthcare	30.8%	11.3%
Consumer Defensive	17.3%	1.4%
Consumer Cyclical	13.7%	8.3%
Financial Services	5.0%	-
Basic Materials	4.7%	0.9%
Technology	4.3%	52.8%
Communication Services	-	12.4%
Energy	-	-
Industrials	-	12.9%
Real Estate	-	-
Utilities	-	-

Return for Risk

PAWZ vs. WRND — Risk / Return Rank

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

PAWZ

PAWZ Risk / Return Rank: 2
PAWZ Sharpe Ratio Rank: 2
PAWZ Sortino Ratio Rank: 2
PAWZ Omega Ratio Rank: 2
PAWZ Calmar Ratio Rank: 3
PAWZ Martin Ratio Rank: 1

WRND

WRND Risk / Return Rank: 58
WRND Sharpe Ratio Rank: 59
WRND Sortino Ratio Rank: 56
WRND Omega Ratio Rank: 53
WRND Calmar Ratio Rank: 57
WRND Martin Ratio Rank: 63

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.

PAWZ vs. WRND - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Pet Care ETF (PAWZ) and IQ Global Equity R&D Leaders ETF (WRND). 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.

	PAWZ	WRND	Difference
Sharpe ratio: Return per unit of total volatility	-0.89	1.63	-2.52
Sortino ratio: Return per unit of downside risk	-1.21	2.26	-3.47
Omega ratio: Gain probability vs. loss probability	0.86	1.28	-0.42
Calmar ratio: Return relative to maximum drawdown	-0.71	2.38	-3.10
Martin ratio: Return relative to average drawdown	-1.54	9.40	-10.95

PAWZ vs. WRND - Sharpe Ratio Comparison

The current PAWZ Sharpe Ratio is -0.89, which is lower than the WRND Sharpe Ratio of 1.63. The chart below compares the historical Sharpe Ratios of PAWZ and WRND, 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

PAWZ vs. WRND - Drawdown Comparison

The maximum PAWZ drawdown since its inception was -50.07%, which is greater than WRND's maximum drawdown of -27.16%. Use the drawdown chart below to compare losses from any high point for PAWZ and WRND.

Drawdown Indicators

	PAWZ	WRND	Difference
Max Drawdown Largest peak-to-trough decline	-50.07%	-27.16%	-22.91%
Max Drawdown (1Y) Largest decline over 1 year	-21.10%	-12.43%	-8.67%
Max Drawdown (3Y) Largest decline over 3 years	-23.12%	-18.41%	-4.71%
Max Drawdown (5Y) Largest decline over 5 years	-50.07%	—	—
Current Drawdown Current decline from peak	-40.19%	-3.54%	-36.65%
Average Drawdown Average peak-to-trough decline	-22.77%	-5.92%	-16.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.75%	3.14%	+6.61%

Volatility

PAWZ vs. WRND - Volatility Comparison

The current volatility for ProShares Pet Care ETF (PAWZ) is 5.29%, while IQ Global Equity R&D Leaders ETF (WRND) has a volatility of 8.04%. This indicates that PAWZ experiences smaller price fluctuations and is considered to be less risky than WRND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PAWZ	WRND	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.29%	8.04%	-2.75%
Volatility (6M) Calculated over the trailing 6-month period	12.31%	15.21%	-2.90%
Volatility (1Y) Calculated over the trailing 1-year period	17.01%	18.24%	-1.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.28%	18.97%	+1.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.64%	18.97%	+2.67%

PAWZ vs. WRND - Expense Ratio Comparison

PAWZ has a 0.50% expense ratio, which is higher than WRND's 0.18% expense ratio.

Dividends

PAWZ vs. WRND - Dividend Comparison

PAWZ's dividend yield for the trailing twelve months is around 0.71%, less than WRND's 0.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
PAWZ ProShares Pet Care ETF	0.71%	0.81%	0.63%	0.44%	0.54%	0.18%	0.14%	0.35%	0.07%
WRND IQ Global Equity R&D Leaders ETF	0.93%	1.29%	1.15%	2.06%	2.06%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PAWZ and WRND in my portfolio?

PAWZ and WRND have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAWZ or WRND?

WRND has higher volatility (8.04%) compared to PAWZ (5.29%). In terms of maximum drawdown, PAWZ dropped -50.07% vs WRND's -27.16%.

Which ETF is better, PAWZ or WRND?

On 3-year performance, WRND leads with 20.83% vs 0.04% for PAWZ. On fees, WRND is cheaper at 0.18% per year. On volatility, PAWZ has been the lower-risk option at 5.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PAWZ or WRND?

Over the 3-year period, WRND has performed better with a 20.83% return vs 0.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PAWZ or WRND?

WRND is cheaper with a 0.18% expense ratio, compared with 0.50% for PAWZ.

Which ETF pays a higher dividend yield, PAWZ or WRND?

WRND has the higher dividend yield at 0.93%, compared with 0.71% for PAWZ.

What is the main difference between PAWZ and WRND?

PAWZ tracks FactSet Pet Care Index, while WRND tracks IQ Global Equity R&D Leaders Index - Benchmark TR Net. They also come from different issuers: ProShares and IndexIQ. Their fees differ too: 0.50% for PAWZ and 0.18% for WRND.

Which has better risk-adjusted returns?

WRND currently has the higher Sharpe Ratio (1.63 vs -0.89), 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.