PTBD vs. GCOW

Last updated Apr 1, 2026

Compare and contrast key facts about Pacer Trendpilot US Bond ETF (PTBD) and Pacer Global Cash Cows Dividend ETF (GCOW).

PTBD and GCOW are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PTBD is a passively managed fund by Pacer that tracks the performance of the Pacer Trendpilot US Bond Index. It was launched on Oct 22, 2019. GCOW is a passively managed fund by Pacer that tracks the performance of the Pacer Global Cash Cows Dividends Index. It was launched on Feb 23, 2016. Both PTBD and GCOW are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

PTBD vs. GCOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Trendpilot US Bond ETF (PTBD) and Pacer Global Cash Cows Dividend ETF (GCOW). The values are adjusted to include any dividend payments, if applicable.

PTBD vs. GCOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
PTBD Pacer Trendpilot US Bond ETF	-0.96%	2.49%	4.24%	8.84%	-20.88%	0.47%	10.62%	2.49%
GCOW Pacer Global Cash Cows Dividend ETF	13.21%	27.34%	3.52%	13.95%	5.49%	14.58%	-4.33%	4.50%

Returns By Period

In the year-to-date period, PTBD achieves a -0.96% return, which is significantly lower than GCOW's 13.21% return.

PTBD

• 1D: 0.74%
• 1M: -1.43%
• YTD: -0.96%
• 6M: -1.61%
• 1Y: -0.24%
• 3Y*: 4.24%
• 5Y*: -1.77%
• 10Y*: —

GCOW

• 1D: 0.85%
• 1M: -1.84%
• YTD: 13.21%
• 6M: 20.65%
• 1Y: 31.30%
• 3Y*: 16.89%
• 5Y*: 13.65%
• 10Y*: 10.20%

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

PTBD vs. GCOW - Expense Ratio Comparison

Both PTBD and GCOW have an expense ratio of 0.60%.

PTBD

Pacer Trendpilot US Bond ETF

GCOW

Pacer Global Cash Cows Dividend ETF

Return for Risk

PTBD vs. GCOW — Risk / Return Rank

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

PTBD

PTBD Risk / Return Rank: 10
PTBD Sharpe Ratio Rank: 11
PTBD Sortino Ratio Rank: 9
PTBD Omega Ratio Rank: 9
PTBD Calmar Ratio Rank: 11
PTBD Martin Ratio Rank: 11

GCOW

GCOW Risk / Return Rank: 93
GCOW Sharpe Ratio Rank: 94
GCOW Sortino Ratio Rank: 95
GCOW Omega Ratio Rank: 94
GCOW Calmar Ratio Rank: 89
GCOW Martin Ratio Rank: 94

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.

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.

	PTBD	GCOW	Difference
Sharpe ratio Return per unit of total volatility	-0.05	2.27	-2.32
Sortino ratio Return per unit of downside risk	-0.04	3.01	-3.05
Omega ratio Gain probability vs. loss probability	0.99	1.44	-0.45
Calmar ratio Return relative to maximum drawdown	-0.06	2.77	-2.83
Martin ratio Return relative to average drawdown	-0.14	14.12	-14.26
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PTBD vs. GCOW - Sharpe Ratio Comparison

The current PTBD Sharpe Ratio is -0.05, which is lower than the GCOW Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of PTBD and GCOW, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	PTBD	GCOW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.05	2.27	-2.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.25	1.02	-1.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.07	0.60	-0.53

Correlation

The correlation between PTBD and GCOW is 0.33, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

PTBD vs. GCOW - Dividend Comparison

PTBD's dividend yield for the trailing twelve months is around 5.46%, more than GCOW's 4.39% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PTBD Pacer Trendpilot US Bond ETF	5.46%	5.62%	6.56%	6.55%	6.14%	2.70%	2.50%	0.62%	0.00%	0.00%	0.00%
GCOW Pacer Global Cash Cows Dividend ETF	4.39%	4.06%	5.14%	5.28%	4.39%	4.23%	4.12%	4.40%	3.94%	2.79%	1.95%

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.

Drawdown Indicators

	PTBD	GCOW	Difference
Max Drawdown Largest peak-to-trough decline	-26.00%	-37.64%	+11.64%
Max Drawdown (1Y) Largest decline over 1 year	-3.36%	-11.05%	+7.69%
Max Drawdown (5Y) Largest decline over 5 years	-26.00%	-21.48%	-4.52%
Max Drawdown (10Y) Largest decline over 10 years	—	-37.64%	—
Current Drawdown Current decline from peak	-10.63%	-1.84%	-8.79%
Average Drawdown Average peak-to-trough decline	-10.19%	-5.90%	-4.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.35%	2.17%	-0.82%

Volatility

PTBD vs. GCOW - Volatility Comparison

The current volatility for Pacer Trendpilot US Bond ETF (PTBD) is 1.90%, while Pacer Global Cash Cows Dividend ETF (GCOW) has a volatility of 4.03%. 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.

Volatility by Period

	PTBD	GCOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.90%	4.03%	-2.13%
Volatility (6M) Calculated over the trailing 6-month period	2.81%	7.90%	-5.09%
Volatility (1Y) Calculated over the trailing 1-year period	4.54%	13.89%	-9.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.23%	13.48%	-6.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.88%	16.25%	-8.37%