QFRD vs. ICOW

Last updated Jun 6, 2026

QFRD (Pacer S&P 500 Quality FCF R&D Leaders ETF) and ICOW (Pacer Developed Markets International Cash Cows 100 ETF) are both exchange-traded funds - QFRD is a Large Cap Growth Equities fund tracking the S&P 500 Quality FCF R&D Leaders Index, while ICOW is a Foreign Large Cap Equities fund tracking the Pacer Developed Markets International Cash Cows 100 Index. Both are passively managed. At a 0.49 correlation, their price movements are largely independent. QFRD charges 0.49%/yr vs 0.65%/yr for ICOW.

Performance

QFRD vs. ICOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer S&P 500 Quality FCF R&D Leaders ETF (QFRD) and Pacer Developed Markets International Cash Cows 100 ETF (ICOW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

QFRD

• 1D: -3.92%
• 1M: 6.13%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ICOW

• 1D: -3.24%
• 1M: -2.55%
• YTD: 13.55%
• 6M: 14.06%
• 1Y: 33.96%
• 3Y*: 18.66%
• 5Y*: 9.33%
• 10Y*: —

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

QFRD vs. ICOW - Yearly Performance Comparison

	2026 (YTD)
QFRD Pacer S&P 500 Quality FCF R&D Leaders ETF	11.08%
ICOW Pacer Developed Markets International Cash Cows 100 ETF	10.16%

Correlation

The correlation between QFRD and ICOW is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jan 14, 2026	0.49

Return for Risk

QFRD vs. ICOW — Risk / Return Rank

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

ICOW

ICOW Risk / Return Rank: 78
ICOW Sharpe Ratio Rank: 78
ICOW Sortino Ratio Rank: 72
ICOW Omega Ratio Rank: 75
ICOW Calmar Ratio Rank: 83
ICOW 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.

QFRD vs. ICOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer S&P 500 Quality FCF R&D Leaders ETF (QFRD) and Pacer Developed Markets International Cash Cows 100 ETF (ICOW). 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.

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

Sharpe Ratios by Period

	QFRD	ICOW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.42	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.56	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.50	0.53	+0.97

Drawdowns

QFRD vs. ICOW - Drawdown Comparison

The maximum QFRD drawdown since its inception was -9.69%, smaller than the maximum ICOW drawdown of -43.49%. Use the drawdown chart below to compare losses from any high point for QFRD and ICOW.

Drawdown Indicators

	QFRD	ICOW	Difference
Max Drawdown Largest peak-to-trough decline	-9.69%	-43.49%	+33.80%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.02%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-14.81%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-28.48%	—
Current Drawdown Current decline from peak	-5.58%	-3.85%	-1.73%
Average Drawdown Average peak-to-trough decline	-2.86%	-7.58%	+4.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.25%	—

Volatility

Volatility by Period

	QFRD	ICOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.15%	—
Volatility (6M) Calculated over the trailing 6-month period	—	11.10%	—
Volatility (1Y) Calculated over the trailing 1-year period	20.55%	14.12%	+6.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.55%	16.70%	+3.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.55%	18.49%	+2.06%

QFRD vs. ICOW - Expense Ratio Comparison

QFRD has a 0.49% expense ratio, which is lower than ICOW's 0.65% expense ratio.

Dividends

QFRD vs. ICOW - Dividend Comparison

QFRD's dividend yield for the trailing twelve months is around 0.11%, less than ICOW's 2.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICOW Pacer Developed Markets International Cash Cows 100 ETF	2.25%	3.03%	4.39%	3.61%	5.26%	2.11%	2.46%	3.10%	2.61%	0.80%
QFRD Pacer S&P 500 Quality FCF R&D Leaders ETF	0.11%	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 QFRD and ICOW in my portfolio?

QFRD and ICOW have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, QFRD or ICOW?

On fees, QFRD 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, QFRD or ICOW?

QFRD is cheaper with a 0.49% expense ratio, compared with 0.65% for ICOW.

Which ETF pays a higher dividend yield, QFRD or ICOW?

ICOW has the higher dividend yield at 2.25%, compared with 0.11% for QFRD.

What is the main difference between QFRD and ICOW?

QFRD is categorized as Large Cap Growth Equities, while ICOW is Foreign Large Cap Equities. QFRD tracks S&P 500 Quality FCF R&D Leaders Index, while ICOW tracks Pacer Developed Markets International Cash Cows 100 Index. Their fees differ too: 0.49% for QFRD and 0.65% for ICOW.