PTNQ vs. CALF

Last updated Jun 26, 2026

PTNQ (Pacer Trendpilot 100 ETF) and CALF (Pacer US Small Cap Cash Cows 100 ETF) are both exchange-traded funds - PTNQ is a Large Cap Blend Equities fund tracking the Pacer NASDAQ-100 Trendpilot 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, PTNQ returned 10.52%/yr vs 3.59%/yr for CALF. At a 0.48 correlation, their price movements are largely independent. PTNQ charges 0.65%/yr vs 0.59%/yr for CALF.

Performance

PTNQ vs. CALF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Trendpilot 100 ETF (PTNQ) 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, PTNQ achieves a 9.80% return, which is significantly lower than CALF's 11.79% return.

PTNQ

• 1D: 0.78%
• 1M: -2.03%
• YTD: 9.80%
• 6M: 8.02%
• 1Y: 24.68%
• 3Y*: 13.75%
• 5Y*: 10.52%
• 10Y*: 16.65%

CALF

• 1D: -0.68%
• 1M: 1.21%
• YTD: 11.79%
• 6M: 10.35%
• 1Y: 27.49%
• 3Y*: 9.56%
• 5Y*: 3.59%
• 10Y*: —

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

PTNQ vs. CALF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTNQ Pacer Trendpilot 100 ETF	9.80%	7.18%	15.47%	34.65%	-16.00%	13.16%	29.38%	24.00%	8.51%	13.32%
CALF Pacer US Small Cap Cash Cows 100 ETF	11.79%	2.33%	-7.41%	35.43%	-15.20%	40.68%	16.55%	18.18%	-10.06%	5.78%

Correlation

The correlation between PTNQ and CALF is 0.44, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.44
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (All Time) Calculated using the full available price history since Jun 19, 2017	0.48

The correlation between PTNQ and CALF has been stable across timeframes, ranging from 0.44 to 0.53 - a consistent structural relationship.

Return for Risk

PTNQ vs. CALF — Risk / Return Rank

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

PTNQ

PTNQ Risk / Return Rank: 46
PTNQ Sharpe Ratio Rank: 46
PTNQ Sortino Ratio Rank: 43
PTNQ Omega Ratio Rank: 44
PTNQ Calmar Ratio Rank: 48
PTNQ Martin Ratio Rank: 47

CALF

CALF Risk / Return Rank: 68
CALF Sharpe Ratio Rank: 59
CALF Sortino Ratio Rank: 63
CALF Omega Ratio Rank: 56
CALF Calmar Ratio Rank: 88
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.

PTNQ vs. CALF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Trendpilot 100 ETF (PTNQ) 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.

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.

	PTNQ	CALF	Difference
Sharpe ratio: Return per unit of total volatility	1.43	1.72	-0.29
Sortino ratio: Return per unit of downside risk	1.93	2.51	-0.59
Omega ratio: Gain probability vs. loss probability	1.26	1.30	-0.05
Calmar ratio: Return relative to maximum drawdown	2.11	4.49	-2.38
Martin ratio: Return relative to average drawdown	6.92	12.17	-5.25

PTNQ vs. CALF - Sharpe Ratio Comparison

The current PTNQ Sharpe Ratio is 1.43, which is comparable to the CALF Sharpe Ratio of 1.72. The chart below compares the historical Sharpe Ratios of PTNQ 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.

Drawdowns

PTNQ vs. CALF - Drawdown Comparison

The maximum PTNQ drawdown since its inception was -28.07%, smaller than the maximum CALF drawdown of -47.58%. Use the drawdown chart below to compare losses from any high point for PTNQ and CALF.

Drawdown Indicators

	PTNQ	CALF	Difference
Max Drawdown Largest peak-to-trough decline	-28.07%	-47.58%	+19.51%
Max Drawdown (1Y) Largest decline over 1 year	-11.76%	-6.15%	-5.61%
Max Drawdown (3Y) Largest decline over 3 years	-14.19%	-34.22%	+20.03%
Max Drawdown (5Y) Largest decline over 5 years	-18.47%	-34.22%	+15.75%
Max Drawdown (10Y) Largest decline over 10 years	-28.07%	—	—
Current Drawdown Current decline from peak	-3.96%	-3.29%	-0.67%
Average Drawdown Average peak-to-trough decline	-5.68%	-10.68%	+5.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.57%	2.26%	+1.31%

Volatility

PTNQ vs. CALF - Volatility Comparison

Pacer Trendpilot 100 ETF (PTNQ) has a higher volatility of 8.54% compared to Pacer US Small Cap Cash Cows 100 ETF (CALF) at 5.29%. This indicates that PTNQ'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

	PTNQ	CALF	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.54%	5.29%	+3.25%
Volatility (6M) Calculated over the trailing 6-month period	13.68%	11.01%	+2.67%
Volatility (1Y) Calculated over the trailing 1-year period	17.31%	16.07%	+1.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.40%	23.39%	-9.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.51%	25.96%	-9.45%

PTNQ vs. CALF - Expense Ratio Comparison

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

Dividends

PTNQ vs. CALF - Dividend Comparison

PTNQ's dividend yield for the trailing twelve months is around 0.80%, less than CALF's 1.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CALF Pacer US Small Cap Cash Cows 100 ETF	1.23%	1.43%	1.07%	1.18%	0.85%	2.63%	0.82%	0.99%	1.39%	0.70%	0.00%	0.00%
PTNQ Pacer Trendpilot 100 ETF	0.80%	0.88%	1.96%	1.47%	0.62%	0.00%	0.16%	0.44%	0.45%	0.32%	0.30%	0.22%

Frequently Asked Questions

Can I hold both PTNQ and CALF in my portfolio?

PTNQ and CALF have a correlation of 0.44, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PTNQ or CALF?

PTNQ has higher volatility (8.54%) compared to CALF (5.29%). In terms of maximum drawdown, PTNQ dropped -28.07% vs CALF's -47.58%.

Which ETF is better, PTNQ or CALF?

On 5-year performance, PTNQ leads with 10.52% vs 3.59% for CALF. On fees, CALF is cheaper at 0.59% per year. On volatility, CALF has been the lower-risk option at 5.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PTNQ or CALF?

Over the 5-year period, PTNQ has performed better with a 10.52% return vs 3.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PTNQ or CALF?

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

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

CALF has the higher dividend yield at 1.23%, compared with 0.80% for PTNQ.

What is the main difference between PTNQ and CALF?

PTNQ is categorized as Large Cap Blend Equities, while CALF is Small Cap Blend Equities. PTNQ tracks Pacer NASDAQ-100 Trendpilot Index, while CALF tracks Pacer US Small Cap Cash Cows Index. Their fees differ too: 0.65% for PTNQ and 0.59% for CALF.

Which has better risk-adjusted returns?

CALF currently has the higher Sharpe Ratio (1.72 vs 1.43), 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.