PSMJ vs. CALF

Last updated Jun 3, 2026

PSMJ (Pacer Swan SOS Moderate (July) ETF) and CALF (Pacer US Small Cap Cash Cows 100 ETF) are both exchange-traded funds - PSMJ is a Defined Outcome fund actively managed by Pacer, while CALF is a Small Cap Blend Equities fund tracking the Pacer US Small Cap Cash Cows Index. PSMJ is actively managed, while CALF is passively managed. Over the past 3 years, PSMJ returned 13.98%/yr vs 11.10%/yr for CALF. A 0.65 correlation means they provide meaningful diversification when combined. PSMJ charges 0.61%/yr vs 0.59%/yr for CALF.

Performance

PSMJ vs. CALF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Swan SOS Moderate (July) ETF (PSMJ) 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, PSMJ achieves a 4.54% return, which is significantly lower than CALF's 14.62% return.

PSMJ

• 1D: 0.04%
• 1M: 1.17%
• YTD: 4.54%
• 6M: 5.78%
• 1Y: 16.12%
• 3Y*: 13.98%
• 5Y*: —
• 10Y*: —

CALF

• 1D: -0.84%
• 1M: 5.29%
• YTD: 14.62%
• 6M: 15.37%
• 1Y: 34.08%
• 3Y*: 11.10%
• 5Y*: 4.41%
• 10Y*: —

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

PSMJ vs. CALF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
PSMJ Pacer Swan SOS Moderate (July) ETF	4.54%	13.29%	14.06%	19.80%	-2.41%	3.68%
CALF Pacer US Small Cap Cash Cows 100 ETF	14.62%	2.33%	-7.41%	35.43%	-15.20%	-2.59%

Correlation

The correlation between PSMJ and CALF is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jul 2, 2021	0.65

The correlation between PSMJ and CALF shifts across timeframes, from 0.51 (1 year) to 0.65 (all time), reflecting how their relationship changes across market environments.

PSMJ vs. CALF - Sectors Allocation Comparison

Sectors	PSMJ	CALF
Technology	33.2%	29.7%
Financial Services	12.5%	0.2%
Communication Services	10.3%	8.8%
Consumer Cyclical	10.0%	28.3%
Healthcare	9.6%	9.4%
Industrials	8.4%	5.9%
Consumer Defensive	5.4%	4.3%
Energy	4.2%	10.3%
Utilities	2.6%	-
Real Estate	2.0%	1.6%
Basic Materials	1.9%	1.6%

Return for Risk

PSMJ vs. CALF — Risk / Return Rank

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

PSMJ

PSMJ Risk / Return Rank: 89
PSMJ Sharpe Ratio Rank: 84
PSMJ Sortino Ratio Rank: 91
PSMJ Omega Ratio Rank: 91
PSMJ Calmar Ratio Rank: 84
PSMJ Martin Ratio Rank: 93

CALF

CALF Risk / Return Rank: 73
CALF Sharpe Ratio Rank: 64
CALF Sortino Ratio Rank: 68
CALF Omega Ratio Rank: 63
CALF Calmar Ratio Rank: 90
CALF Martin Ratio Rank: 80

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.

PSMJ vs. CALF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Swan SOS Moderate (July) ETF (PSMJ) 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.

	PSMJ	CALF	Difference
Sharpe ratio Return per unit of total volatility	2.83	2.17	+0.66
Sortino ratio Return per unit of downside risk	4.33	3.14	+1.19
Omega ratio Gain probability vs. loss probability	1.62	1.38	+0.23
Calmar ratio Return relative to maximum drawdown	4.60	5.53	-0.93
Martin ratio Return relative to average drawdown	25.33	15.82	+9.51
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PSMJ vs. CALF - Sharpe Ratio Comparison

The current PSMJ Sharpe Ratio is 2.83, which is higher than the CALF Sharpe Ratio of 2.17. The chart below compares the historical Sharpe Ratios of PSMJ 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.

Sharpe Ratios by Period

	PSMJ	CALF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.83	2.17	+0.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.19	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.18	0.38	+0.81

Drawdowns

PSMJ vs. CALF - Drawdown Comparison

The maximum PSMJ drawdown since its inception was -10.87%, smaller than the maximum CALF drawdown of -47.58%. Use the drawdown chart below to compare losses from any high point for PSMJ and CALF.

Drawdown Indicators

	PSMJ	CALF	Difference
Max Drawdown Largest peak-to-trough decline	-10.87%	-47.58%	+36.71%
Max Drawdown (1Y) Largest decline over 1 year	-3.70%	-6.15%	+2.45%
Max Drawdown (3Y) Largest decline over 3 years	-10.87%	-34.22%	+23.35%
Max Drawdown (5Y) Largest decline over 5 years	—	-34.22%	—
Current Drawdown Current decline from peak	0.00%	-0.84%	+0.84%
Average Drawdown Average peak-to-trough decline	-1.37%	-10.74%	+9.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	2.15%	-1.48%

Volatility

PSMJ vs. CALF - Volatility Comparison

The current volatility for Pacer Swan SOS Moderate (July) ETF (PSMJ) is 0.41%, while Pacer US Small Cap Cash Cows 100 ETF (CALF) has a volatility of 4.83%. This indicates that PSMJ 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

	PSMJ	CALF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.41%	4.83%	-4.42%
Volatility (6M) Calculated over the trailing 6-month period	3.89%	10.40%	-6.51%
Volatility (1Y) Calculated over the trailing 1-year period	5.76%	15.79%	-10.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.96%	23.44%	-14.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.96%	26.02%	-17.06%

PSMJ vs. CALF - Expense Ratio Comparison

PSMJ has a 0.61% expense ratio, which is higher than CALF's 0.59% expense ratio.

Dividends

PSMJ vs. CALF - Dividend Comparison

PSMJ has not paid dividends to shareholders, while CALF's dividend yield for the trailing twelve months is around 1.26%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CALF Pacer US Small Cap Cash Cows 100 ETF	1.26%	1.43%	1.07%	1.18%	0.85%	2.63%	0.82%	0.99%	1.39%	0.70%
PSMJ Pacer Swan SOS Moderate (July) ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.02%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PSMJ and CALF in my portfolio?

PSMJ and CALF have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSMJ or CALF?

CALF has higher volatility (4.83%) compared to PSMJ (0.41%). In terms of maximum drawdown, PSMJ dropped -10.87% vs CALF's -47.58%.

Which ETF is better, PSMJ or CALF?

On 3-year performance, PSMJ leads with 13.98% vs 11.10% for CALF. On fees, CALF is cheaper at 0.59% per year. On volatility, PSMJ has been the lower-risk option at 0.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSMJ or CALF?

Over the 3-year period, PSMJ has performed better with a 13.98% return vs 11.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSMJ or CALF?

CALF is cheaper with a 0.59% expense ratio, compared with 0.61% for PSMJ.

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

CALF has the higher dividend yield at 1.26%, compared with 0.00% for PSMJ.

What is the main difference between PSMJ and CALF?

PSMJ is categorized as Defined Outcome, while CALF is Small Cap Blend Equities. Their fees differ too: 0.61% for PSMJ and 0.59% for CALF.

Which has better risk-adjusted returns?

PSMJ currently has the higher Sharpe Ratio (2.83 vs 2.17), 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.