PSCX vs. CALF

Last updated Aug 2, 2026

PSCX (Pacer Swan SOS Conservative (December) ETF) and CALF (Pacer US Small Cap Cash Cows ETF) are both exchange-traded funds - PSCX is a Defined Outcome fund actively managed by Pacer, while CALF is a Small Cap Value Equities fund tracking the Pacer US Small Cap Cash Cows Index. PSCX is actively managed, while CALF is passively managed. Over the past 5 years, PSCX returned 8.41%/yr vs 6.29%/yr for CALF. Their 0.61 correlation means they have sometimes moved together and sometimes differently. PSCX charges 0.75%/yr vs 0.59%/yr for CALF.

Performance

PSCX vs. CALF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Swan SOS Conservative (December) ETF (PSCX) 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, PSCX achieves a 5.97% return, which is significantly lower than CALF's 22.50% return.

PSCX

• 1D: 0.42%
• 1M: 0.79%
• 6M: 5.38%
• YTD: 5.97%
• 1Y: 13.16%
• 3Y*: 11.95%
• 5Y*: 8.41%
• 10Y*: —
• ALL TIME*: 8.64%

CALF

• 1D: -0.40%
• 1M: 4.89%
• 6M: 19.77%
• YTD: 22.50%
• 1Y: 39.59%
• 3Y*: 8.57%
• 5Y*: 6.29%
• 10Y*: —
• ALL TIME*: 10.37%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CALF Pacer US Small Cap Cash Cows ETF	$20.38M	$24.48M	$25.33M
PSCX Pacer Swan SOS Conservative (December) ETF	$30.18K	$20.77K	$40.17K

PSCX vs. CALF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PSCX Pacer Swan SOS Conservative (December) ETF	5.97%	12.08%	13.27%	16.57%	-7.35%	9.03%	0.43%
CALF Pacer US Small Cap Cash Cows ETF	22.50%	2.33%	-7.41%	35.43%	-15.20%	40.68%	1.00%

Correlation

The correlation between PSCX and CALF is 0.45, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.45
Correlation (3Y) Balances recent behavior with more history.	0.57
Correlation (5Y) Shows whether the relationship held over a longer period.	0.63
Correlation (All Time) Calculated using the full available price history since Dec 23, 2020	0.61

The correlation between PSCX and CALF shifts across timeframes, from 0.45 (1 year) to 0.63 (5 years), reflecting how their relationship changes across market environments.

PSCX vs. CALF - Sectors Allocation Comparison

Sectors	PSCX	CALF
Technology	38.5%	23.4%
Financial Services	11.6%	0.2%
Communication Services	9.9%	7.6%
Consumer Cyclical	9.5%	23.2%
Healthcare	8.9%	11.6%
Industrials	8.4%	9.3%
Consumer Defensive	4.5%	5.3%
Energy	3.0%	13.7%
Utilities	2.2%	-
Real Estate	1.8%	1.8%
Basic Materials	1.7%	4.2%

Return for Risk

PSCX vs. CALF — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

PSCX

PSCX Risk / Return Rank: 88
PSCX Sharpe Ratio Rank: 88
PSCX Sortino Ratio Rank: 90
PSCX Omega Ratio Rank: 90
PSCX Calmar Ratio Rank: 80
PSCX Martin Ratio Rank: 90

CALF

CALF Risk / Return Rank: 92
CALF Sharpe Ratio Rank: 91
CALF Sortino Ratio Rank: 92
CALF Omega Ratio Rank: 89
CALF Calmar Ratio Rank: 96
CALF Martin Ratio Rank: 94

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

PSCX vs. CALF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Swan SOS Conservative (December) ETF (PSCX) 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.

	PSCX	CALF	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.30	-0.16
Sortino ratio: Return per unit of downside risk	3.15	3.30	-0.14
Omega ratio: Gain probability vs. loss probability	1.42	1.40	+0.01
Calmar ratio: Return relative to maximum drawdown	2.92	6.13	-3.21
Martin ratio: Return relative to average drawdown	14.53	17.68	-3.15

PSCX vs. CALF - Sharpe Ratio Comparison

The current PSCX Sharpe Ratio is 2.14, which is comparable to the CALF Sharpe Ratio of 2.30. The chart below compares the historical Sharpe Ratios of PSCX 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

PSCX vs. CALF - Drawdown Comparison

The maximum PSCX drawdown since its inception was -10.20%, smaller than the maximum CALF drawdown of -47.58%. Use the drawdown chart below to compare losses from any high point for PSCX and CALF.

Drawdown Indicators

	PSCX	CALF	Difference
Max Drawdown Largest peak-to-trough decline	-10.20%	-47.58%	+37.38%
Max Drawdown (1Y) Largest decline over 1 year	-4.20%	-6.02%	+1.82%
Max Drawdown (3Y) Largest decline over 3 years	-9.61%	-34.22%	+24.61%
Max Drawdown (5Y) Largest decline over 5 years	-10.20%	-34.22%	+24.02%
Current Drawdown Current decline from peak	0.00%	-1.88%	+1.88%
Average Drawdown Average peak-to-trough decline	-1.82%	-10.57%	+8.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	2.09%	-1.24%

Volatility

PSCX vs. CALF - Volatility Comparison

The current volatility for Pacer Swan SOS Conservative (December) ETF (PSCX) is 1.55%, while Pacer US Small Cap Cash Cows ETF (CALF) has a volatility of 5.09%. This indicates that PSCX experiences smaller price fluctuations and is considered to be less risky than CALF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSCX	CALF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.55%	5.09%	-3.54%
Volatility (6M) Calculated over the trailing 6-month period	4.63%	11.64%	-7.01%
Volatility (1Y) Calculated over the trailing 1-year period	5.75%	16.13%	-10.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.14%	23.23%	-16.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.94%	25.89%	-18.95%

PSCX vs. CALF - Expense Ratio Comparison

PSCX has a 0.75% expense ratio, which is higher than CALF's 0.59% expense ratio.

Dividends

PSCX vs. CALF - Dividend Comparison

PSCX has not paid dividends to shareholders, while CALF's dividend yield for the trailing twelve months is around 1.12%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CALF Pacer US Small Cap Cash Cows ETF	1.12%	1.43%	1.07%	1.18%	0.85%	2.63%	0.82%	0.99%	1.39%	0.70%
PSCX Pacer Swan SOS Conservative (December) ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PSCX and CALF in my portfolio?

PSCX and CALF have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSCX or CALF?

CALF has higher volatility (5.09%) compared to PSCX (1.55%). In terms of maximum drawdown, PSCX dropped -10.20% vs CALF's -47.58%.

Which ETF is better, PSCX or CALF?

On 5-year performance, PSCX leads with 8.41% vs 6.29% for CALF. On fees, CALF is cheaper at 0.59% per year. On volatility, PSCX has been the lower-risk option at 1.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSCX or CALF?

Over the 5-year period, PSCX has performed better with a 8.41% return vs 6.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSCX or CALF?

CALF is cheaper with a 0.59% expense ratio, compared with 0.75% for PSCX.

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

CALF has the higher dividend yield at 1.12%, compared with 0.00% for PSCX.

What is the main difference between PSCX and CALF?

PSCX is categorized as Defined Outcome, while CALF is Small Cap Value Equities. Their fees differ too: 0.75% for PSCX and 0.59% for CALF.

Which has better risk-adjusted returns?

CALF currently has the higher Sharpe Ratio (2.30 vs 2.14), 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.