PTMC vs. CALF

Last updated Jun 6, 2026

PTMC (Pacer Trendpilot US Mid Cap ETF) and CALF (Pacer US Small Cap Cash Cows 100 ETF) are both exchange-traded funds - PTMC is a Mid Cap Blend Equities fund tracking the Pacer Trendpilot US Mid Cap 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, PTMC returned 3.47%/yr vs 3.91%/yr for CALF. A 0.66 correlation means they provide meaningful diversification when combined. PTMC charges 0.60%/yr vs 0.59%/yr for CALF.

Performance

PTMC vs. CALF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Trendpilot US Mid Cap ETF (PTMC) and Pacer US Small Cap Cash Cows 100 ETF (CALF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with PTMC having a 12.33% return and CALF slightly lower at 12.22%.

PTMC

• 1D: -1.91%
• 1M: -0.87%
• YTD: 12.33%
• 6M: 11.93%
• 1Y: 17.22%
• 3Y*: 9.60%
• 5Y*: 3.47%
• 10Y*: 5.91%

CALF

• 1D: -1.90%
• 1M: 3.49%
• YTD: 12.22%
• 6M: 11.14%
• 1Y: 29.69%
• 3Y*: 9.77%
• 5Y*: 3.91%
• 10Y*: —

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

PTMC vs. CALF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTMC Pacer Trendpilot US Mid Cap ETF	12.33%	-1.55%	13.22%	7.29%	-13.99%	12.42%	6.58%	1.04%	0.02%	9.58%
CALF Pacer US Small Cap Cash Cows 100 ETF	12.22%	2.33%	-7.41%	35.43%	-15.20%	40.68%	16.55%	18.18%	-10.06%	5.78%

Correlation

The correlation between PTMC and CALF is 0.72, 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	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.67
Correlation (All Time) Calculated using the full available price history since Jun 20, 2017	0.66

The correlation between PTMC and CALF has been stable across timeframes, ranging from 0.66 to 0.74 - a consistent structural relationship.

PTMC vs. CALF - Sectors Allocation Comparison

Sectors	PTMC	CALF
Industrials	23.6%	5.9%
Technology	16.4%	29.7%
Financial Services	15.1%	0.2%
Consumer Cyclical	10.8%	28.3%
Healthcare	8.8%	9.4%
Real Estate	7.0%	1.6%
Basic Materials	4.9%	1.6%
Consumer Defensive	4.8%	4.3%
Energy	4.2%	10.3%
Utilities	3.0%	-
Communication Services	1.4%	8.8%

Return for Risk

PTMC vs. CALF — Risk / Return Rank

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

PTMC

PTMC Risk / Return Rank: 38
PTMC Sharpe Ratio Rank: 33
PTMC Sortino Ratio Rank: 35
PTMC Omega Ratio Rank: 34
PTMC Calmar Ratio Rank: 42
PTMC Martin Ratio Rank: 46

CALF

CALF Risk / Return Rank: 67
CALF Sharpe Ratio Rank: 57
CALF Sortino Ratio Rank: 60
CALF Omega Ratio Rank: 55
CALF Calmar Ratio Rank: 87
CALF Martin Ratio Rank: 75

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.

PTMC vs. CALF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Trendpilot US Mid Cap ETF (PTMC) 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.

	PTMC	CALF	Difference
Sharpe ratio: Return per unit of total volatility	1.13	1.88	-0.75
Sortino ratio: Return per unit of downside risk	1.72	2.73	-1.01
Omega ratio: Gain probability vs. loss probability	1.21	1.33	-0.12
Calmar ratio: Return relative to maximum drawdown	1.94	4.85	-2.91
Martin ratio: Return relative to average drawdown	7.12	13.77	-6.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PTMC vs. CALF - Sharpe Ratio Comparison

The current PTMC Sharpe Ratio is 1.13, which is lower than the CALF Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of PTMC 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

	PTMC	CALF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.13	1.88	-0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.26	0.17	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.50	0.37	+0.13

Drawdowns

PTMC vs. CALF - Drawdown Comparison

The maximum PTMC drawdown since its inception was -20.53%, smaller than the maximum CALF drawdown of -47.58%. Use the drawdown chart below to compare losses from any high point for PTMC and CALF.

Drawdown Indicators

	PTMC	CALF	Difference
Max Drawdown Largest peak-to-trough decline	-20.53%	-47.58%	+27.05%
Max Drawdown (1Y) Largest decline over 1 year	-8.89%	-6.15%	-2.74%
Max Drawdown (3Y) Largest decline over 3 years	-15.31%	-34.22%	+18.91%
Max Drawdown (5Y) Largest decline over 5 years	-16.93%	-34.22%	+17.29%
Max Drawdown (10Y) Largest decline over 10 years	-20.53%	—	—
Current Drawdown Current decline from peak	-1.91%	-2.92%	+1.01%
Average Drawdown Average peak-to-trough decline	-6.47%	-10.73%	+4.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.42%	2.16%	+0.26%

Volatility

PTMC vs. CALF - Volatility Comparison

The current volatility for Pacer Trendpilot US Mid Cap ETF (PTMC) is 4.36%, while Pacer US Small Cap Cash Cows 100 ETF (CALF) has a volatility of 5.24%. This indicates that PTMC 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

	PTMC	CALF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.36%	5.24%	-0.88%
Volatility (6M) Calculated over the trailing 6-month period	11.59%	10.62%	+0.97%
Volatility (1Y) Calculated over the trailing 1-year period	15.30%	15.89%	-0.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.17%	23.45%	-10.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.99%	26.01%	-13.02%

PTMC vs. CALF - Expense Ratio Comparison

PTMC has a 0.60% expense ratio, which is higher than CALF's 0.59% expense ratio.

Dividends

PTMC vs. CALF - Dividend Comparison

PTMC's dividend yield for the trailing twelve months is around 1.64%, more than CALF's 1.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
CALF Pacer US Small Cap Cash Cows 100 ETF	1.22%	1.43%	1.07%	1.18%	0.85%	2.63%	0.82%	0.99%	1.39%	0.70%	0.00%
PTMC Pacer Trendpilot US Mid Cap ETF	1.64%	1.84%	0.87%	1.92%	0.82%	0.12%	0.53%	1.40%	0.89%	0.67%	0.66%

Frequently Asked Questions

Can I hold both PTMC and CALF in my portfolio?

PTMC and CALF have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTMC or CALF?

CALF has higher volatility (5.24%) compared to PTMC (4.36%). In terms of maximum drawdown, PTMC dropped -20.53% vs CALF's -47.58%.

Which ETF is better, PTMC or CALF?

On 5-year performance, CALF leads with 3.91% vs 3.47% for PTMC. On fees, CALF is cheaper at 0.59% per year. On volatility, PTMC has been the lower-risk option at 4.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTMC or CALF?

Over the 5-year period, CALF has performed better with a 3.91% return vs 3.47%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTMC or CALF?

CALF is cheaper with a 0.59% expense ratio, compared with 0.60% for PTMC.

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

PTMC has the higher dividend yield at 1.64%, compared with 1.22% for CALF.

What is the main difference between PTMC and CALF?

PTMC is categorized as Mid Cap Blend Equities, while CALF is Small Cap Blend Equities. PTMC tracks Pacer Trendpilot US Mid Cap Index, while CALF tracks Pacer US Small Cap Cash Cows Index. Their fees differ too: 0.60% for PTMC and 0.59% for CALF.

Which has better risk-adjusted returns?

CALF currently has the higher Sharpe Ratio (1.88 vs 1.13), 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.