PSC vs. CALF

Last updated Jun 24, 2026

PSC (Principal U.S. Small Cap Multi-Factor ETF) and CALF (Pacer US Small Cap Cash Cows 100 ETF) are both Small Cap Blend Equities funds - PSC tracks the Nasdaq US Small Cap Select Leaders TR Index while CALF tracks the Pacer US Small Cap Cash Cows Index. Both are passively managed. Over the past 5 years, PSC returned 8.77%/yr vs 3.49%/yr for CALF. Their correlation of 0.83 suggests significant overlap in exposure. PSC charges 0.38%/yr vs 0.59%/yr for CALF.

Performance

PSC vs. CALF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal U.S. Small Cap Multi-Factor ETF (PSC) and Pacer US Small Cap Cash Cows 100 ETF (CALF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSC achieves a 17.73% return, which is significantly higher than CALF's 10.96% return.

PSC

• 1D: -0.58%
• 1M: 5.16%
• YTD: 17.73%
• 6M: 15.20%
• 1Y: 31.66%
• 3Y*: 19.46%
• 5Y*: 8.77%
• 10Y*: —

CALF

• 1D: 0.34%
• 1M: 0.78%
• YTD: 10.96%
• 6M: 9.95%
• 1Y: 26.19%
• 3Y*: 9.45%
• 5Y*: 3.49%
• 10Y*: —

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

PSC vs. CALF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PSC Principal U.S. Small Cap Multi-Factor ETF	17.73%	13.41%	12.38%	18.51%	-15.91%	32.56%	13.30%	18.99%	-11.35%	9.54%
CALF Pacer US Small Cap Cash Cows 100 ETF	10.96%	2.33%	-7.41%	35.43%	-15.20%	40.68%	16.55%	18.18%	-10.06%	5.78%

Correlation

The correlation between PSC and CALF is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Jun 19, 2017	0.83

The correlation between PSC and CALF shifts across timeframes, from 0.73 (1 year) to 0.89 (5 years), reflecting how their relationship changes across market environments.

PSC vs. CALF - Sectors Allocation Comparison

Sectors	PSC	CALF
Technology	20.3%	32.4%
Financial Services	17.2%	0.2%
Industrials	16.9%	5.4%
Healthcare	15.8%	9.7%
Consumer Cyclical	8.2%	28.5%
Energy	5.6%	8.9%
Real Estate	4.5%	1.5%
Basic Materials	4.2%	1.6%
Utilities	2.7%	-
Communication Services	2.3%	8.3%
Consumer Defensive	2.2%	3.6%

Return for Risk

PSC vs. CALF — Risk / Return Rank

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

PSC

PSC Risk / Return Rank: 57
PSC Sharpe Ratio Rank: 52
PSC Sortino Ratio Rank: 53
PSC Omega Ratio Rank: 47
PSC Calmar Ratio Rank: 68
PSC Martin Ratio Rank: 65

CALF

CALF Risk / Return Rank: 60
CALF Sharpe Ratio Rank: 50
CALF Sortino Ratio Rank: 52
CALF Omega Ratio Rank: 47
CALF Calmar Ratio Rank: 83
CALF Martin Ratio Rank: 67

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.

PSC vs. CALF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal U.S. Small Cap Multi-Factor ETF (PSC) and Pacer US Small Cap Cash Cows 100 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.

	PSC	CALF	Difference
Sharpe ratio: Return per unit of total volatility	1.68	1.64	+0.04
Sortino ratio: Return per unit of downside risk	2.40	2.40	0.00
Omega ratio: Gain probability vs. loss probability	1.29	1.29	0.00
Calmar ratio: Return relative to maximum drawdown	3.20	4.28	-1.08
Martin ratio: Return relative to average drawdown	11.15	11.68	-0.52

PSC vs. CALF - Sharpe Ratio Comparison

The current PSC Sharpe Ratio is 1.68, which is comparable to the CALF Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of PSC 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

PSC vs. CALF - Drawdown Comparison

The maximum PSC drawdown since its inception was -46.69%, roughly equal to the maximum CALF drawdown of -47.58%. Use the drawdown chart below to compare losses from any high point for PSC and CALF.

Drawdown Indicators

	PSC	CALF	Difference
Max Drawdown Largest peak-to-trough decline	-46.69%	-47.58%	+0.89%
Max Drawdown (1Y) Largest decline over 1 year	-9.95%	-6.15%	-3.80%
Max Drawdown (3Y) Largest decline over 3 years	-23.49%	-34.22%	+10.73%
Max Drawdown (5Y) Largest decline over 5 years	-25.86%	-34.22%	+8.36%
Current Drawdown Current decline from peak	-0.58%	-4.01%	+3.43%
Average Drawdown Average peak-to-trough decline	-8.23%	-10.69%	+2.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.85%	2.25%	+0.60%

Volatility

PSC vs. CALF - Volatility Comparison

Principal U.S. Small Cap Multi-Factor ETF (PSC) and Pacer US Small Cap Cash Cows 100 ETF (CALF) have volatilities of 5.38% and 5.39%, 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

	PSC	CALF	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.38%	5.39%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	13.32%	10.92%	+2.40%
Volatility (1Y) Calculated over the trailing 1-year period	18.96%	16.02%	+2.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.02%	23.39%	-2.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.28%	25.97%	-2.69%

PSC vs. CALF - Expense Ratio Comparison

PSC has a 0.38% expense ratio, which is lower than CALF's 0.59% expense ratio.

Dividends

PSC vs. CALF - Dividend Comparison

PSC's dividend yield for the trailing twelve months is around 0.57%, less than CALF's 1.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CALF Pacer US Small Cap Cash Cows 100 ETF	1.24%	1.43%	1.07%	1.18%	0.85%	2.63%	0.82%	0.99%	1.39%	0.70%	0.00%
PSC Principal U.S. Small Cap Multi-Factor ETF	0.57%	0.67%	0.75%	0.73%	1.92%	1.45%	1.25%	1.47%	1.30%	0.95%	0.35%

Frequently Asked Questions

Can I hold both PSC and CALF in my portfolio?

PSC and CALF have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSC or CALF?

CALF has higher volatility (5.39%) compared to PSC (5.38%). In terms of maximum drawdown, PSC dropped -46.69% vs CALF's -47.58%.

Which ETF is better, PSC or CALF?

On 5-year performance, PSC leads with 8.77% vs 3.49% for CALF. On fees, PSC is cheaper at 0.38% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSC or CALF?

Over the 5-year period, PSC has performed better with a 8.77% return vs 3.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSC or CALF?

PSC is cheaper with a 0.38% expense ratio, compared with 0.59% for CALF.

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

CALF has the higher dividend yield at 1.24%, compared with 0.57% for PSC.

What is the main difference between PSC and CALF?

PSC tracks Nasdaq US Small Cap Select Leaders TR Index, while CALF tracks Pacer US Small Cap Cash Cows Index. They also come from different issuers: Principal and Pacer. Their fees differ too: 0.38% for PSC and 0.59% for CALF.

Which has better risk-adjusted returns?

PSC currently has the higher Sharpe Ratio (1.68 vs 1.64), 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.