PTBD vs. GCOW
PTBD (Pacer Trendpilot US Bond ETF) and GCOW (Pacer Global Cash Cows Dividend ETF) are both exchange-traded funds - PTBD is a High Yield Bonds fund tracking the Pacer Trendpilot US Bond Index, while GCOW is a Large Cap Value Equities fund tracking the Pacer Global Cash Cows Dividends Index. Both are passively managed. Over the past 5 years, PTBD returned -1.64%/yr vs 13.23%/yr for GCOW. Their 0.32 correlation means their historical movements had little consistent relationship. Both charge a 0.60% expense ratio.
Performance
PTBD vs. GCOW - Performance Comparison
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Returns By Period
In the year-to-date period, PTBD achieves a 1.72% return, which is significantly lower than GCOW's 14.53% return.
PTBD
- 1D
- 0.53%
- 1M
- 0.15%
- 6M
- 1.17%
- YTD
- 1.72%
- 1Y
- 2.50%
- 3Y*
- 4.91%
- 5Y*
- -1.64%
- 10Y*
- —
- ALL TIME*
- 0.90%
GCOW
- 1D
- 0.00%
- 1M
- 5.25%
- 6M
- 5.40%
- YTD
- 14.53%
- 1Y
- 26.76%
- 3Y*
- 16.49%
- 5Y*
- 13.23%
- 10Y*
- 9.81%
- ALL TIME*
- 10.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $12.92M | $12.70M | $12.24M | |
| $204.54K | $249.92K | $355.58K |
PTBD vs. GCOW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
PTBD Pacer Trendpilot US Bond ETF | 1.72% | 2.49% | 4.24% | 8.84% | -20.88% | 0.47% | 10.62% | 2.16% |
GCOW Pacer Global Cash Cows Dividend ETF | 14.53% | 27.34% | 3.52% | 13.95% | 5.49% | 14.58% | -4.33% | 5.26% |
Correlation
The correlation between PTBD and GCOW is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.36 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.37 |
Correlation (All Time) Calculated using the full available price history since Oct 23, 2019 | 0.32 |
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Return for Risk
PTBD vs. GCOW — Risk / Return Rank
PTBD
GCOW
PTBD vs. GCOW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pacer Trendpilot US Bond ETF (PTBD) 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.
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.
| PTBD | GCOW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.82 | ||
| Sortino ratioReturn per unit of downside risk | -2.60 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.44 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 3.43 | -2.63 |
| Martin ratioReturn relative to average drawdown | 2.99 | 10.60 | -7.61 |
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Drawdowns
PTBD vs. GCOW - Drawdown Comparison
The maximum PTBD drawdown since its inception was -26.00%, smaller than the maximum GCOW drawdown of -37.64%. Use the drawdown chart below to compare losses from any high point for PTBD and GCOW.
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Drawdown Indicators
| PTBD | GCOW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.00% | -37.64% | +11.64% |
Max Drawdown (1Y)Largest decline over 1 year | -3.12% | -7.83% | +4.71% |
Max Drawdown (3Y)Largest decline over 3 years | -3.82% | -12.35% | +8.53% |
Max Drawdown (5Y)Largest decline over 5 years | -25.68% | -21.48% | -4.20% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.64% | — |
Current DrawdownCurrent decline from peak | -8.21% | -0.94% | -7.27% |
Average DrawdownAverage peak-to-trough decline | -10.13% | -5.81% | -4.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.84% | 2.53% | -1.69% |
Volatility
PTBD vs. GCOW - Volatility Comparison
The current volatility for Pacer Trendpilot US Bond ETF (PTBD) is 0.94%, while Pacer Global Cash Cows Dividend ETF (GCOW) has a volatility of 2.95%. This indicates that PTBD 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.
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Volatility by Period
| PTBD | GCOW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.94% | 2.95% | -2.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.02% | 8.54% | -5.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.83% | 10.88% | -7.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.26% | 13.54% | -6.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.73% | 16.01% | -8.28% |
PTBD vs. GCOW - Expense Ratio Comparison
Both PTBD and GCOW have an expense ratio of 0.60%.
Dividends
PTBD vs. GCOW - Dividend Comparison
PTBD's dividend yield for the trailing twelve months is around 5.88%, more than GCOW's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
GCOW Pacer Global Cash Cows Dividend ETF | 4.59% | 4.06% | 5.14% | 5.28% | 4.39% | 4.23% | 4.12% | 4.40% | 3.94% | 2.79% | 1.95% |
PTBD Pacer Trendpilot US Bond ETF | 5.88% | 5.62% | 6.56% | 6.55% | 6.14% | 2.70% | 2.50% | 0.62% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PTBD and GCOW have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GCOW has higher volatility (2.95%) compared to PTBD (0.94%). In terms of maximum drawdown, PTBD dropped -26.00% vs GCOW's -37.64%.
On 5-year performance, GCOW leads with 13.23% vs -1.64% for PTBD. Both ETFs have the same 0.60% expense ratio. On volatility, PTBD has been the lower-risk option at 0.94%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, GCOW has performed better with a 13.23% return vs -1.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PTBD and GCOW have the same expense ratio: 0.60% per year.
PTBD has the higher dividend yield at 5.88%, compared with 4.59% for GCOW.
PTBD is categorized as High Yield Bonds, while GCOW is Large Cap Value Equities. PTBD tracks Pacer Trendpilot US Bond Index, while GCOW tracks Pacer Global Cash Cows Dividends Index.
GCOW currently has the higher Sharpe Ratio (2.47 vs 0.66), 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.
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