PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
SPGM vs. HERD
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPGM vs. HERD

Last updated Aug 6, 2026
Documentation

SPGM (SPDR Portfolio MSCI Global Stock Market ETF) and HERD (Pacer Cash Cows Fund of Funds ETF) are both Global Equities funds - SPGM tracks the MSCI ACWI IMI Index while HERD tracks the Pacer Cash Cows Fund of Funds Index. Both are passively managed. Over the past 5 years, SPGM returned 11.56%/yr vs 10.87%/yr for HERD. Their 0.67 correlation means they have sometimes moved together and sometimes differently. SPGM charges 0.09%/yr vs 0.73%/yr for HERD.

Performance

SPGM vs. HERD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio MSCI Global Stock Market ETF (SPGM) and Pacer Cash Cows Fund of Funds ETF (HERD). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, SPGM achieves a 14.87% return, which is significantly lower than HERD's 16.82% return.

SPGM

1D
-0.15%
1M
1.65%
6M
11.35%
YTD
14.87%
1Y
27.40%
3Y*
20.61%
5Y*
11.56%
10Y*
12.77%
ALL TIME*
11.43%

HERD

1D
-0.08%
1M
5.70%
6M
10.64%
YTD
16.82%
1Y
29.50%
3Y*
15.57%
5Y*
10.87%
10Y*
—
ALL TIME*
13.15%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

PositionAvg. Volume Value (2W)Avg. Volume Value (1M)Avg. Volume Value (3M)

HERD

Pacer Cash Cows Fund of Funds ETF
$149.03K$180.90K$184.34K

SPGM

SPDR Portfolio MSCI Global Stock Market ETF
$10.56M$8.33M$20.53M

SPGM vs. HERD - Yearly Performance Comparison

2026 (YTD)2025202420232022202120202019
SPGM
SPDR Portfolio MSCI Global Stock Market ETF		14.87%23.62%16.75%21.34%-17.53%21.13%15.28%9.51%
HERD
Pacer Cash Cows Fund of Funds ETF		16.82%19.07%2.91%20.72%-6.96%28.58%10.71%6.95%

Correlation

The correlation between SPGM and HERD is 0.67, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

Correlation
Correlation (1Y)
Focuses on recent behavior, but can change the most.

0.67

Correlation (3Y)
Balances recent behavior with more history.

0.73

Correlation (5Y)
Shows whether the relationship held over a longer period.

0.76

Correlation (All Time)
Calculated using the full available price history since May 7, 2019

0.67

The correlation between SPGM and HERD has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.

SPGM vs. HERD - Sectors Allocation Comparison

Sectors
SPGM
HERD

Technology

30.7%
16.3%

Financial Services

16.4%
0.0%

Industrials

12.7%
11.9%

Consumer Cyclical

8.7%
17.8%

Healthcare

8.4%
16.9%

Communication Services

7.7%
8.8%

Consumer Defensive

4.5%
10.1%

Energy

3.7%
10.4%

Basic Materials

3.5%
6.2%

Utilities

2.0%
1.3%

Real Estate

1.8%
0.4%

Technology

SPGM
30.7%
HERD
16.3%

Financial Services

SPGM
16.4%
HERD
0.0%

Industrials

SPGM
12.7%
HERD
11.9%

Consumer Cyclical

SPGM
8.7%
HERD
17.8%

Healthcare

SPGM
8.4%
HERD
16.9%

Communication Services

SPGM
7.7%
HERD
8.8%

Consumer Defensive

SPGM
4.5%
HERD
10.1%

Energy

SPGM
3.7%
HERD
10.4%

Basic Materials

SPGM
3.5%
HERD
6.2%

Utilities

SPGM
2.0%
HERD
1.3%

Real Estate

SPGM
1.8%
HERD
0.4%

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR Portfolio MSCI Global Stock Market ETF

Pacer Cash Cows Fund of Funds ETF

Often compared with SPGM:
SPGM vs. VTSPGM vs. VOOSPGM vs. VXUSSPGM vs. CWISPGM vs. QWLDSPGM vs. SPGPSPGM vs. SWRD.AS
Often compared with HERD:
HERD vs. COWZHERD vs. FVDHERD vs. GCOWHERD vs. VTHERD vs. TMFCHERD vs. VOOHERD vs. JEPQ

Return for Risk

SPGM vs. HERD — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.
SPGM
SPGM Risk / Return Rank: 7676
Overall Rank
SPGM Sharpe Ratio Rank: 7676
Sharpe Ratio Rank
SPGM Sortino Ratio Rank: 7373
Sortino Ratio Rank
SPGM Omega Ratio Rank: 7575
Omega Ratio Rank
SPGM Calmar Ratio Rank: 7373
Calmar Ratio Rank
SPGM Martin Ratio Rank: 8181
Martin Ratio Rank
HERD
HERD Risk / Return Rank: 9292
Overall Rank
HERD Sharpe Ratio Rank: 9191
Sharpe Ratio Rank
HERD Sortino Ratio Rank: 9292
Sortino Ratio Rank
HERD Omega Ratio Rank: 9191
Omega Ratio Rank
HERD Calmar Ratio Rank: 9494
Calmar Ratio Rank
HERD Martin Ratio Rank: 9191
Martin Ratio Rank
The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

SPGM vs. HERD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio MSCI Global Stock Market ETF (SPGM) and Pacer Cash Cows Fund of Funds ETF (HERD). 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.

SPGMHERDDifference
Sharpe ratioReturn per unit of total volatility
1.96
2.53

-0.57

Sortino ratioReturn per unit of downside risk
2.69
3.58

-0.89

Omega ratioGain probability vs. loss probability

1.35

1.46

-0.11

Calmar ratioReturn relative to maximum drawdown

2.90

5.22

-2.32

Martin ratioReturn relative to average drawdown

12.20

16.20

-4.00

SPGM vs. HERD - Sharpe Ratio Comparison

The current SPGM Sharpe Ratio is 1.96, which is comparable to the HERD Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of SPGM and HERD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Drawdowns

SPGM vs. HERD - Drawdown Comparison

The maximum SPGM drawdown since its inception was -33.97%, smaller than the maximum HERD drawdown of -39.41%. Use the drawdown chart below to compare losses from any high point for SPGM and HERD.

Loading charts...

Drawdown Indicators

SPGMHERDDifference

Max Drawdown

Largest peak-to-trough decline

-33.97%

-39.41%

+5.44%

Max Drawdown (1Y)

Largest decline over 1 year

-9.50%

-5.68%

-3.82%

Max Drawdown (3Y)

Largest decline over 3 years

-16.90%

-18.90%

+2.00%

Max Drawdown (5Y)

Largest decline over 5 years

-25.93%

-21.60%

-4.33%

Max Drawdown (10Y)

Largest decline over 10 years

-33.97%

—

—

Current Drawdown

Current decline from peak

-0.15%

-0.08%

-0.07%

Average Drawdown

Average peak-to-trough decline

-4.77%

-4.50%

-0.27%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.25%

1.83%

+0.42%

Volatility

SPGM vs. HERD - Volatility Comparison

SPDR Portfolio MSCI Global Stock Market ETF (SPGM) has a higher volatility of 4.22% compared to Pacer Cash Cows Fund of Funds ETF (HERD) at 3.45%. This indicates that SPGM's price experiences larger fluctuations and is considered to be riskier than HERD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

SPGMHERDDifference

Volatility (1M)

Calculated over the trailing 1-month period

4.22%

3.45%

+0.77%

Volatility (6M)

Calculated over the trailing 6-month period

11.88%

8.76%

+3.12%

Volatility (1Y)

Calculated over the trailing 1-year period

14.06%

11.70%

+2.36%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

16.21%

17.69%

-1.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.34%

20.35%

-3.01%

SPGM vs. HERD - Expense Ratio Comparison

SPGM has a 0.09% expense ratio, which is lower than HERD's 0.73% expense ratio.

Dividends

SPGM vs. HERD - Dividend Comparison

SPGM's dividend yield for the trailing twelve months is around 1.76%, less than HERD's 2.68% yield.

PositionTTM20252024202320222021202020192018201720162015
HERD
Pacer Cash Cows Fund of Funds ETF		2.68%3.75%2.43%2.54%2.50%2.02%1.95%1.69%0.00%0.00%0.00%0.00%
SPGM
SPDR Portfolio MSCI Global Stock Market ETF		1.76%1.89%1.98%2.09%2.37%1.94%1.45%2.46%1.89%2.29%1.87%3.70%

Frequently Asked Questions

SPGM and HERD have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

SPGM has higher volatility (4.22%) compared to HERD (3.45%). In terms of maximum drawdown, SPGM dropped -33.97% vs HERD's -39.41%.

On 5-year performance, SPGM leads with 11.56% vs 10.87% for HERD. On fees, SPGM is cheaper at 0.09% per year. On volatility, HERD has been the lower-risk option at 3.45%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 5-year period, SPGM has performed better with a 11.56% return vs 10.87%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

SPGM is cheaper with a 0.09% expense ratio, compared with 0.73% for HERD.

HERD has the higher dividend yield at 2.68%, compared with 1.76% for SPGM.

SPGM tracks MSCI ACWI IMI Index, while HERD tracks Pacer Cash Cows Fund of Funds Index. They also come from different issuers: State Street and Pacer. Their fees differ too: 0.09% for SPGM and 0.73% for HERD.

HERD currently has the higher Sharpe Ratio (2.53 vs 1.96), 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.

Portfolio Optimizer

Find the right allocation for SPGM and HERD

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer