QQWZ vs. CALF

Last updated Jun 4, 2026

QQWZ (Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF) and CALF (Pacer US Small Cap Cash Cows 100 ETF) are both exchange-traded funds - QQWZ is a Nasdaq-100 fund actively managed by Pacer, while CALF is a Small Cap Blend Equities fund tracking the Pacer US Small Cap Cash Cows Index. QQWZ is actively managed, while CALF is passively managed. Over the past year, QQWZ returned 37.59% vs 30.24% for CALF. A 0.55 correlation means they provide meaningful diversification when combined. QQWZ charges 0.49%/yr vs 0.59%/yr for CALF.

Performance

QQWZ vs. CALF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF (QQWZ) 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, QQWZ achieves a 18.92% return, which is significantly higher than CALF's 13.34% return.

QQWZ

• 1D: -0.24%
• 1M: 10.66%
• YTD: 18.92%
• 6M: 16.34%
• 1Y: 37.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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)

QQWZ vs. CALF - Yearly Performance Comparison

	2026 (YTD)	2025
QQWZ Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF	18.92%	26.23%
CALF Pacer US Small Cap Cash Cows 100 ETF	13.34%	22.39%

Correlation

The correlation between QQWZ and CALF is 0.53, 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	0.53
Correlation (All Time) Calculated using the full available price history since May 8, 2025	0.55

The correlation between QQWZ and CALF has been stable across timeframes, ranging from 0.53 to 0.55 - a consistent structural relationship.

Return for Risk

QQWZ vs. CALF — Risk / Return Rank

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

QQWZ

QQWZ Risk / Return Rank: 83
QQWZ Sharpe Ratio Rank: 83
QQWZ Sortino Ratio Rank: 81
QQWZ Omega Ratio Rank: 81
QQWZ Calmar Ratio Rank: 86
QQWZ Martin Ratio Rank: 85

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.

QQWZ vs. CALF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF (QQWZ) 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.

	QQWZ	CALF	Difference
Sharpe ratio: Return per unit of total volatility	2.75	1.93	+0.82
Sortino ratio: Return per unit of downside risk	3.64	2.82	+0.82
Omega ratio: Gain probability vs. loss probability	1.49	1.34	+0.14
Calmar ratio: Return relative to maximum drawdown	4.84	4.94	-0.10
Martin ratio: Return relative to average drawdown	17.81	14.08	+3.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QQWZ vs. CALF - Sharpe Ratio Comparison

The current QQWZ Sharpe Ratio is 2.75, which is higher than the CALF Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of QQWZ 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

	QQWZ	CALF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.75	1.93	+0.82
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.26	0.37	+2.89

Drawdowns

QQWZ vs. CALF - Drawdown Comparison

The maximum QQWZ drawdown since its inception was -7.81%, smaller than the maximum CALF drawdown of -47.58%. Use the drawdown chart below to compare losses from any high point for QQWZ and CALF.

Drawdown Indicators

	QQWZ	CALF	Difference
Max Drawdown Largest peak-to-trough decline	-7.81%	-47.58%	+39.77%
Max Drawdown (1Y) Largest decline over 1 year	-7.81%	-6.15%	-1.66%
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	-0.24%	-1.95%	+1.71%
Average Drawdown Average peak-to-trough decline	-1.36%	-10.74%	+9.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	2.15%	-0.03%

Volatility

QQWZ vs. CALF - Volatility Comparison

The current volatility for Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF (QQWZ) is 4.35%, while Pacer US Small Cap Cash Cows 100 ETF (CALF) has a volatility of 4.92%. This indicates that QQWZ 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

	QQWZ	CALF	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	4.92%	-0.57%
Volatility (6M) Calculated over the trailing 6-month period	8.85%	10.47%	-1.62%
Volatility (1Y) Calculated over the trailing 1-year period	13.77%	15.84%	-2.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.22%	23.44%	-9.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.22%	26.02%	-11.80%

QQWZ vs. CALF - Expense Ratio Comparison

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

Dividends

QQWZ vs. CALF - Dividend Comparison

QQWZ's dividend yield for the trailing twelve months is around 0.31%, less 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%
QQWZ Pacer Cash COWZ 100-Nasdaq 100 Rotator ETF	0.31%	0.11%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both QQWZ and CALF in my portfolio?

QQWZ and CALF have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QQWZ or CALF?

CALF has higher volatility (4.92%) compared to QQWZ (4.35%). In terms of maximum drawdown, QQWZ dropped -7.81% vs CALF's -47.58%.

Which ETF is better, QQWZ or CALF?

On 1-year performance, QQWZ leads with 37.59% vs 30.24% for CALF. On fees, QQWZ is cheaper at 0.49% per year. On volatility, QQWZ has been the lower-risk option at 4.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QQWZ or CALF?

Over the 1-year period, QQWZ has performed better with a 37.59% return vs 30.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QQWZ or CALF?

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

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

CALF has the higher dividend yield at 1.28%, compared with 0.31% for QQWZ.

What is the main difference between QQWZ and CALF?

QQWZ is categorized as Nasdaq-100, while CALF is Small Cap Blend Equities. Their fees differ too: 0.49% for QQWZ and 0.59% for CALF.

Which has better risk-adjusted returns?

QQWZ currently has the higher Sharpe Ratio (2.75 vs 1.93), 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.