PRF vs. GCOW

Last updated Jun 4, 2026

PRF (Invesco RAFI US 1000 ETF) and GCOW (Pacer Global Cash Cows Dividend ETF) are both Large Cap Value Equities funds - PRF tracks the RAFI Fundamental Select US 1000 Index while GCOW tracks the Pacer Global Cash Cows Dividends Index. Both are passively managed. Over the past 10 years, PRF returned 13.67%/yr vs 9.91%/yr for GCOW. A 0.77 correlation means they provide meaningful diversification when combined. PRF charges 0.34%/yr vs 0.60%/yr for GCOW.

Performance

PRF vs. GCOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco RAFI US 1000 ETF (PRF) 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, PRF achieves a 14.79% return, which is significantly higher than GCOW's 12.18% return. Over the past 10 years, PRF has outperformed GCOW with an annualized return of 13.67%, while GCOW has yielded a comparatively lower 9.91% annualized return.

PRF

• 1D: -0.20%
• 1M: 4.19%
• YTD: 14.79%
• 6M: 15.01%
• 1Y: 32.80%
• 3Y*: 21.40%
• 5Y*: 12.43%
• 10Y*: 13.67%

GCOW

• 1D: -0.56%
• 1M: 0.09%
• YTD: 12.18%
• 6M: 13.23%
• 1Y: 27.12%
• 3Y*: 17.41%
• 5Y*: 12.34%
• 10Y*: 9.91%

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

PRF vs. GCOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PRF Invesco RAFI US 1000 ETF	14.79%	18.33%	16.73%	15.72%	-7.79%	31.12%	7.78%	27.42%	-8.71%	16.01%
GCOW Pacer Global Cash Cows Dividend ETF	12.18%	27.34%	3.52%	13.95%	5.49%	14.58%	-4.33%	17.81%	-7.99%	20.71%

Correlation

The correlation between PRF and GCOW is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (10Y) Calculated over the trailing 10-year period	0.77
Correlation (All Time) Calculated using the full available price history since Feb 24, 2016	0.77

Over the past year, the correlation between PRF and GCOW has dropped to 0.55 - well below their long-term average of 0.77, suggesting their price drivers have been diverging.

PRF vs. GCOW - Sectors Allocation Comparison

Sectors	PRF	GCOW
Technology	20.9%	0.9%
Financial Services	15.4%	-
Healthcare	11.7%	14.6%
Communication Services	10.2%	14.6%
Industrials	9.2%	12.4%
Consumer Cyclical	9.1%	4.6%
Energy	8.2%	24.4%
Consumer Defensive	6.3%	17.1%
Basic Materials	3.4%	7.3%
Utilities	3.1%	4.1%
Real Estate	2.5%	-

Return for Risk

PRF vs. GCOW — Risk / Return Rank

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

PRF

PRF Risk / Return Rank: 89
PRF Sharpe Ratio Rank: 89
PRF Sortino Ratio Rank: 90
PRF Omega Ratio Rank: 88
PRF Calmar Ratio Rank: 87
PRF Martin Ratio Rank: 89

GCOW

GCOW Risk / Return Rank: 79
GCOW Sharpe Ratio Rank: 76
GCOW Sortino Ratio Rank: 79
GCOW Omega Ratio Rank: 72
GCOW Calmar Ratio Rank: 90
GCOW Martin Ratio Rank: 77

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.

PRF vs. GCOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco RAFI US 1000 ETF (PRF) 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.

	PRF	GCOW	Difference
Sharpe ratio: Return per unit of total volatility	3.10	2.52	+0.58
Sortino ratio: Return per unit of downside risk	4.33	3.63	+0.70
Omega ratio: Gain probability vs. loss probability	1.57	1.44	+0.13
Calmar ratio: Return relative to maximum drawdown	5.00	5.71	-0.71
Martin ratio: Return relative to average drawdown	20.67	15.05	+5.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PRF vs. GCOW - Sharpe Ratio Comparison

The current PRF Sharpe Ratio is 3.10, which is comparable to the GCOW Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of PRF 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.

Sharpe Ratios by Period

	PRF	GCOW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.10	2.52	+0.58
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	0.92	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.78	0.61	+0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.59	-0.11

Drawdowns

PRF vs. GCOW - Drawdown Comparison

The maximum PRF drawdown since its inception was -60.35%, which is greater than GCOW's maximum drawdown of -37.64%. Use the drawdown chart below to compare losses from any high point for PRF and GCOW.

Drawdown Indicators

	PRF	GCOW	Difference
Max Drawdown Largest peak-to-trough decline	-60.35%	-37.64%	-22.71%
Max Drawdown (1Y) Largest decline over 1 year	-6.59%	-4.77%	-1.82%
Max Drawdown (3Y) Largest decline over 3 years	-15.82%	-12.35%	-3.47%
Max Drawdown (5Y) Largest decline over 5 years	-19.72%	-21.48%	+1.76%
Max Drawdown (10Y) Largest decline over 10 years	-38.16%	-37.64%	-0.52%
Current Drawdown Current decline from peak	-0.20%	-2.73%	+2.53%
Average Drawdown Average peak-to-trough decline	-6.93%	-5.84%	-1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.59%	1.81%	-0.22%

Volatility

PRF vs. GCOW - Volatility Comparison

The current volatility for Invesco RAFI US 1000 ETF (PRF) is 2.64%, while Pacer Global Cash Cows Dividend ETF (GCOW) has a volatility of 2.85%. This indicates that PRF 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

	PRF	GCOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.64%	2.85%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	7.74%	7.99%	-0.25%
Volatility (1Y) Calculated over the trailing 1-year period	10.63%	10.81%	-0.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.18%	13.49%	+1.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.67%	16.20%	+1.47%

PRF vs. GCOW - Expense Ratio Comparison

PRF has a 0.34% expense ratio, which is lower than GCOW's 0.60% expense ratio.

Dividends

PRF vs. GCOW - Dividend Comparison

PRF's dividend yield for the trailing twelve months is around 1.38%, less than GCOW's 4.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GCOW Pacer Global Cash Cows Dividend ETF	4.43%	4.06%	5.14%	5.28%	4.39%	4.23%	4.12%	4.40%	3.94%	2.79%	1.95%	0.00%
PRF Invesco RAFI US 1000 ETF	1.38%	1.59%	1.78%	1.84%	2.01%	1.58%	1.97%	1.99%	2.25%	1.58%	2.17%	2.25%

Frequently Asked Questions

Can I hold both PRF and GCOW in my portfolio?

PRF and GCOW have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PRF or GCOW?

GCOW has higher volatility (2.85%) compared to PRF (2.64%). In terms of maximum drawdown, PRF dropped -60.35% vs GCOW's -37.64%.

Which ETF is better, PRF or GCOW?

On 10-year performance, PRF leads with 13.67% vs 9.91% for GCOW. On fees, PRF is cheaper at 0.34% per year. On volatility, PRF has been the lower-risk option at 2.64%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PRF or GCOW?

Over the 10-year period, PRF has performed better with a 13.67% return vs 9.91%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PRF or GCOW?

PRF is cheaper with a 0.34% expense ratio, compared with 0.60% for GCOW.

Which ETF pays a higher dividend yield, PRF or GCOW?

GCOW has the higher dividend yield at 4.43%, compared with 1.38% for PRF.

What is the main difference between PRF and GCOW?

PRF tracks RAFI Fundamental Select US 1000 Index, while GCOW tracks Pacer Global Cash Cows Dividends Index. They also come from different issuers: Invesco and Pacer. Their fees differ too: 0.34% for PRF and 0.60% for GCOW.

Which has better risk-adjusted returns?

PRF currently has the higher Sharpe Ratio (3.10 vs 2.52), 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.