QFHD vs. CALF

Last updated Jul 24, 2026

QFHD (Pacer S&P 500 Quality FCF High Dividend ETF) and CALF (Pacer US Small Cap Cash Cows ETF) are both exchange-traded funds - QFHD is a Quality Factor fund tracking the S&P 500 Quality FCF High Dividend Index, while CALF is a Small Cap Value Equities fund tracking the Pacer US Small Cap Cash Cows Index. Both are passively managed. A 0.57 correlation means they provide meaningful diversification when combined. QFHD charges 0.49%/yr vs 0.59%/yr for CALF.

Performance

QFHD vs. CALF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer S&P 500 Quality FCF High Dividend ETF (QFHD) and Pacer US Small Cap Cash Cows ETF (CALF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QFHD

• 1D: -0.66%
• 1M: 3.10%
• 6M: 8.07%
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

CALF

• 1D: -1.19%
• 1M: 5.06%
• 6M: 12.79%
• YTD: 16.58%
• 1Y: 24.68%
• 3Y*: 7.54%
• 5Y*: 5.49%
• 10Y*: —
• ALL TIME*: 9.79%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CALF Pacer US Small Cap Cash Cows ETF	$25.41M	$26.80M	$26.10M
QFHD Pacer S&P 500 Quality FCF High Dividend ETF	$11.21K	$32.42K	$25.69K

QFHD vs. CALF - Yearly Performance Comparison

	2026 (YTD)
QFHD Pacer S&P 500 Quality FCF High Dividend ETF	10.40%
CALF Pacer US Small Cap Cash Cows ETF	12.95%

Correlation

The correlation between QFHD and CALF is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 13, 2026	0.57

Return for Risk

QFHD vs. CALF — Risk / Return Rank

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

QFHD

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

CALF

CALF Risk / Return Rank: 72
CALF Sharpe Ratio Rank: 63
CALF Sortino Ratio Rank: 66
CALF Omega Ratio Rank: 60
CALF Calmar Ratio Rank: 90
CALF Martin Ratio Rank: 80

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.

QFHD vs. CALF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer S&P 500 Quality FCF High Dividend ETF (QFHD) and Pacer US Small Cap Cash Cows 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.

	QFHD	CALF	Difference
Sharpe ratio: Return per unit of total volatility	—	1.57	—
Sortino ratio: Return per unit of downside risk	—	2.32	—
Omega ratio: Gain probability vs. loss probability	—	1.28	—
Calmar ratio: Return relative to maximum drawdown	—	4.12	—
Martin ratio: Return relative to average drawdown	—	11.37	—

Drawdowns

QFHD vs. CALF - Drawdown Comparison

The maximum QFHD drawdown since its inception was -5.52%, smaller than the maximum CALF drawdown of -47.58%. Use the drawdown chart below to compare losses from any high point for QFHD and CALF.

Drawdown Indicators

	QFHD	CALF	Difference
Max Drawdown Largest peak-to-trough decline	-5.52%	-47.58%	+42.06%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.02%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-34.22%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-34.22%	—
Current Drawdown Current decline from peak	-1.20%	-2.88%	+1.68%
Average Drawdown Average peak-to-trough decline	-1.82%	-10.60%	+8.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.24%	—

Volatility

Volatility by Period

	QFHD	CALF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.37%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.05%	—
Volatility (1Y) Calculated over the trailing 1-year period	10.71%	15.85%	-5.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.71%	23.19%	-12.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.71%	25.89%	-15.18%

QFHD vs. CALF - Expense Ratio Comparison

QFHD has a 0.49% expense ratio, which is lower than CALF's 0.59% expense ratio.

Dividends

QFHD vs. CALF - Dividend Comparison

QFHD's dividend yield for the trailing twelve months is around 1.30%, more than CALF's 1.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
CALF Pacer US Small Cap Cash Cows ETF	1.18%	1.43%	1.07%	1.18%	0.85%	2.63%	0.82%	0.99%	1.39%	0.70%
QFHD Pacer S&P 500 Quality FCF High Dividend ETF	1.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QFHD and CALF in my portfolio?

QFHD and CALF have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QFHD or CALF?

On fees, QFHD is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, QFHD or CALF?

QFHD is cheaper with a 0.49% expense ratio, compared with 0.59% for CALF.

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

QFHD has the higher dividend yield at 1.30%, compared with 1.18% for CALF.

What is the main difference between QFHD and CALF?

QFHD is categorized as Quality Factor, while CALF is Small Cap Value Equities. QFHD tracks S&P 500 Quality FCF High Dividend Index, while CALF tracks Pacer US Small Cap Cash Cows Index. Their fees differ too: 0.49% for QFHD and 0.59% for CALF.