PTEU vs. CALF

Last updated Jun 4, 2026

PTEU (Pacer Trendpilot European Index ETF) and CALF (Pacer US Small Cap Cash Cows 100 ETF) are both exchange-traded funds - PTEU is a Europe Equities fund tracking the Pacer Trendpilot European Index, while CALF is a Small Cap Blend Equities fund tracking the Pacer US Small Cap Cash Cows Index. Both are passively managed. Over the past 5 years, PTEU returned 7.24%/yr vs 4.12%/yr for CALF. At a 0.43 correlation, their price movements are largely independent. PTEU charges 0.65%/yr vs 0.59%/yr for CALF.

Performance

PTEU vs. CALF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Trendpilot European Index ETF (PTEU) 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, PTEU achieves a 6.24% return, which is significantly lower than CALF's 13.34% return.

PTEU

• 1D: -0.68%
• 1M: 4.65%
• YTD: 6.24%
• 6M: 8.48%
• 1Y: 18.27%
• 3Y*: 10.93%
• 5Y*: 7.24%
• 10Y*: 4.25%

CALF

• 1D: -1.12%
• 1M: 4.91%
• YTD: 13.34%
• 6M: 12.53%
• 1Y: 30.24%
• 3Y*: 10.69%
• 5Y*: 4.12%
• 10Y*: —

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

PTEU vs. CALF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTEU Pacer Trendpilot European Index ETF	6.24%	30.80%	-0.50%	12.45%	-7.46%	13.43%	-19.41%	13.50%	-16.87%	7.17%
CALF Pacer US Small Cap Cash Cows 100 ETF	13.34%	2.33%	-7.41%	35.43%	-15.20%	40.68%	16.55%	18.18%	-10.06%	5.78%

Correlation

The correlation between PTEU and CALF is 0.50, 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	0.50
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (All Time) Calculated using the full available price history since Jun 20, 2017	0.43

The correlation between PTEU and CALF has been stable across timeframes, ranging from 0.43 to 0.52 - a consistent structural relationship.

PTEU vs. CALF - Sectors Allocation Comparison

Sectors	PTEU	CALF
Financial Services	25.1%	0.2%
Industrials	20.9%	5.9%
Technology	14.6%	29.7%
Consumer Cyclical	8.5%	28.3%
Utilities	7.1%	-
Healthcare	5.7%	9.4%
Consumer Defensive	5.1%	4.3%
Basic Materials	4.2%	1.6%
Energy	4.0%	10.3%
Communication Services	3.6%	8.8%
Real Estate	1.2%	1.6%

Return for Risk

PTEU vs. CALF — Risk / Return Rank

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

PTEU

PTEU Risk / Return Rank: 30
PTEU Sharpe Ratio Rank: 30
PTEU Sortino Ratio Rank: 30
PTEU Omega Ratio Rank: 29
PTEU Calmar Ratio Rank: 30
PTEU Martin Ratio Rank: 33

CALF

CALF Risk / Return Rank: 66
CALF Sharpe Ratio Rank: 56
CALF Sortino Ratio Rank: 58
CALF Omega Ratio Rank: 54
CALF Calmar Ratio Rank: 86
CALF Martin Ratio Rank: 73

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.

PTEU vs. CALF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Trendpilot European Index ETF (PTEU) 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.

	PTEU	CALF	Difference
Sharpe ratio: Return per unit of total volatility	1.09	1.93	-0.84
Sortino ratio: Return per unit of downside risk	1.60	2.82	-1.22
Omega ratio: Gain probability vs. loss probability	1.20	1.34	-0.14
Calmar ratio: Return relative to maximum drawdown	1.43	4.94	-3.51
Martin ratio: Return relative to average drawdown	4.96	14.08	-9.12
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PTEU vs. CALF - Sharpe Ratio Comparison

The current PTEU Sharpe Ratio is 1.09, which is lower than the CALF Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of PTEU 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

	PTEU	CALF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.09	1.93	-0.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.18	+0.30
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.37	-0.08

Drawdowns

PTEU vs. CALF - Drawdown Comparison

The maximum PTEU drawdown since its inception was -35.45%, smaller than the maximum CALF drawdown of -47.58%. Use the drawdown chart below to compare losses from any high point for PTEU and CALF.

Drawdown Indicators

	PTEU	CALF	Difference
Max Drawdown Largest peak-to-trough decline	-35.45%	-47.58%	+12.13%
Max Drawdown (1Y) Largest decline over 1 year	-12.82%	-6.15%	-6.67%
Max Drawdown (3Y) Largest decline over 3 years	-15.04%	-34.22%	+19.18%
Max Drawdown (5Y) Largest decline over 5 years	-15.04%	-34.22%	+19.18%
Max Drawdown (10Y) Largest decline over 10 years	-35.45%	—	—
Current Drawdown Current decline from peak	-1.71%	-1.95%	+0.24%
Average Drawdown Average peak-to-trough decline	-14.50%	-10.74%	-3.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.69%	2.15%	+1.54%

Volatility

PTEU vs. CALF - Volatility Comparison

Pacer Trendpilot European Index ETF (PTEU) has a higher volatility of 6.12% compared to Pacer US Small Cap Cash Cows 100 ETF (CALF) at 4.92%. This indicates that PTEU's price experiences larger fluctuations and is considered to be riskier than CALF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PTEU	CALF	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.12%	4.92%	+1.20%
Volatility (6M) Calculated over the trailing 6-month period	14.00%	10.47%	+3.53%
Volatility (1Y) Calculated over the trailing 1-year period	16.85%	15.84%	+1.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.23%	23.44%	-8.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.58%	26.02%	-11.44%

PTEU vs. CALF - Expense Ratio Comparison

PTEU has a 0.65% expense ratio, which is higher than CALF's 0.59% expense ratio.

Dividends

PTEU vs. CALF - Dividend Comparison

PTEU's dividend yield for the trailing twelve months is around 1.81%, more than CALF's 1.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CALF Pacer US Small Cap Cash Cows 100 ETF	1.28%	1.43%	1.07%	1.18%	0.85%	2.63%	0.82%	0.99%	1.39%	0.70%
PTEU Pacer Trendpilot European Index ETF	1.81%	1.92%	3.49%	2.74%	0.69%	1.55%	0.00%	3.43%	1.86%	0.60%

Frequently Asked Questions

Can I hold both PTEU and CALF in my portfolio?

PTEU and CALF have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTEU or CALF?

PTEU has higher volatility (6.12%) compared to CALF (4.92%). In terms of maximum drawdown, PTEU dropped -35.45% vs CALF's -47.58%.

Which ETF is better, PTEU or CALF?

On 5-year performance, PTEU leads with 7.24% vs 4.12% for CALF. On fees, CALF is cheaper at 0.59% per year. On volatility, CALF has been the lower-risk option at 4.92%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTEU or CALF?

Over the 5-year period, PTEU has performed better with a 7.24% return vs 4.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTEU or CALF?

CALF is cheaper with a 0.59% expense ratio, compared with 0.65% for PTEU.

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

PTEU has the higher dividend yield at 1.81%, compared with 1.28% for CALF.

What is the main difference between PTEU and CALF?

PTEU is categorized as Europe Equities, while CALF is Small Cap Blend Equities. PTEU tracks Pacer Trendpilot European Index, while CALF tracks Pacer US Small Cap Cash Cows Index. Their fees differ too: 0.65% for PTEU and 0.59% for CALF.

Which has better risk-adjusted returns?

CALF currently has the higher Sharpe Ratio (1.93 vs 1.09), 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.