SPWO vs. PATN

Last updated Jun 5, 2026

SPWO (SP Funds S&P World ETF) and PATN (Pacer Nasdaq International Patent Leaders ETF) are both Foreign Large Cap Equities funds - SPWO tracks the S&P DM Ex-U.S. & EM 50/50 Shariah Index - Benchmark TR Net while PATN tracks the Nasdaq International Patent Leaders Index. Both are passively managed. Over the past year, SPWO returned 47.54% vs 69.98% for PATN. Their correlation of 0.89 suggests significant overlap in exposure. SPWO charges 0.55%/yr vs 0.65%/yr for PATN.

Performance

SPWO vs. PATN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SP Funds S&P World ETF (SPWO) and Pacer Nasdaq International Patent Leaders ETF (PATN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPWO achieves a 26.98% return, which is significantly lower than PATN's 39.41% return.

SPWO

• 1D: 0.09%
• 1M: 8.23%
• YTD: 26.98%
• 6M: 27.41%
• 1Y: 47.54%
• 3Y*: —
• 5Y*: —
• 10Y*: —

PATN

• 1D: -0.79%
• 1M: 13.15%
• YTD: 39.41%
• 6M: 41.84%
• 1Y: 69.98%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SPWO vs. PATN - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SPWO SP Funds S&P World ETF	26.98%	26.32%	-2.00%
PATN Pacer Nasdaq International Patent Leaders ETF	39.41%	40.01%	-1.73%

Correlation

The correlation between SPWO and PATN is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Sep 18, 2024	0.89

The correlation between SPWO and PATN has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

SPWO vs. PATN - Sectors Allocation Comparison

Sectors	SPWO	PATN
Technology	48.9%	41.1%
Industrials	11.7%	16.4%
Healthcare	10.5%	12.5%
Consumer Cyclical	10.4%	9.0%
Basic Materials	6.5%	2.9%
Consumer Defensive	4.0%	6.3%
Energy	2.0%	2.1%
Communication Services	0.7%	8.4%
Real Estate	0.6%	-
Utilities	0.1%	-
Financial Services	0.0%	0.8%

Return for Risk

SPWO vs. PATN — Risk / Return Rank

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

SPWO

SPWO Risk / Return Rank: 73
SPWO Sharpe Ratio Rank: 76
SPWO Sortino Ratio Rank: 72
SPWO Omega Ratio Rank: 73
SPWO Calmar Ratio Rank: 71
SPWO Martin Ratio Rank: 72

PATN

PATN Risk / Return Rank: 90
PATN Sharpe Ratio Rank: 93
PATN Sortino Ratio Rank: 91
PATN Omega Ratio Rank: 91
PATN Calmar Ratio Rank: 87
PATN Martin Ratio Rank: 89

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.

SPWO vs. PATN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SP Funds S&P World ETF (SPWO) and Pacer Nasdaq International Patent Leaders ETF (PATN). 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.

	SPWO	PATN	Difference
Sharpe ratio: Return per unit of total volatility	2.44	3.32	-0.89
Sortino ratio: Return per unit of downside risk	3.23	4.20	-0.97
Omega ratio: Gain probability vs. loss probability	1.43	1.58	-0.15
Calmar ratio: Return relative to maximum drawdown	3.48	4.89	-1.41
Martin ratio: Return relative to average drawdown	13.22	19.80	-6.58
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPWO vs. PATN - Sharpe Ratio Comparison

The current SPWO Sharpe Ratio is 2.44, which is comparable to the PATN Sharpe Ratio of 3.32. The chart below compares the historical Sharpe Ratios of SPWO and PATN, 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

	SPWO	PATN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.44	3.32	-0.89
Sharpe Ratio (All Time) Calculated using the full available price history	1.44	2.24	-0.80

Drawdowns

SPWO vs. PATN - Drawdown Comparison

The maximum SPWO drawdown since its inception was -18.03%, which is greater than PATN's maximum drawdown of -16.77%. Use the drawdown chart below to compare losses from any high point for SPWO and PATN.

Drawdown Indicators

	SPWO	PATN	Difference
Max Drawdown Largest peak-to-trough decline	-18.03%	-16.77%	-1.26%
Max Drawdown (1Y) Largest decline over 1 year	-13.75%	-14.40%	+0.65%
Current Drawdown Current decline from peak	-1.12%	-1.18%	+0.06%
Average Drawdown Average peak-to-trough decline	-2.79%	-3.14%	+0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.61%	3.55%	+0.06%

Volatility

SPWO vs. PATN - Volatility Comparison

The current volatility for SP Funds S&P World ETF (SPWO) is 7.55%, while Pacer Nasdaq International Patent Leaders ETF (PATN) has a volatility of 8.79%. This indicates that SPWO experiences smaller price fluctuations and is considered to be less risky than PATN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SPWO	PATN	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.55%	8.79%	-1.24%
Volatility (6M) Calculated over the trailing 6-month period	16.56%	18.19%	-1.63%
Volatility (1Y) Calculated over the trailing 1-year period	19.64%	21.20%	-1.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.02%	20.84%	-1.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.02%	20.84%	-1.82%

SPWO vs. PATN - Expense Ratio Comparison

SPWO has a 0.55% expense ratio, which is lower than PATN's 0.65% expense ratio.

Dividends

SPWO vs. PATN - Dividend Comparison

SPWO's dividend yield for the trailing twelve months is around 1.02%, less than PATN's 1.74% yield.

Position	TTM	2025	2024
PATN Pacer Nasdaq International Patent Leaders ETF	1.74%	2.25%	0.30%
SPWO SP Funds S&P World ETF	1.02%	1.29%	1.24%

Frequently Asked Questions

Can I hold both SPWO and PATN in my portfolio?

With a correlation of 0.92, SPWO and PATN move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SPWO or PATN?

PATN has higher volatility (8.79%) compared to SPWO (7.55%). In terms of maximum drawdown, SPWO dropped -18.03% vs PATN's -16.77%.

Which ETF is better, SPWO or PATN?

On 1-year performance, PATN leads with 69.98% vs 47.54% for SPWO. On fees, SPWO is cheaper at 0.55% per year. On volatility, SPWO has been the lower-risk option at 7.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SPWO or PATN?

Over the 1-year period, PATN has performed better with a 69.98% return vs 47.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SPWO or PATN?

SPWO is cheaper with a 0.55% expense ratio, compared with 0.65% for PATN.

Which ETF pays a higher dividend yield, SPWO or PATN?

PATN has the higher dividend yield at 1.74%, compared with 1.02% for SPWO.

What is the main difference between SPWO and PATN?

SPWO tracks S&P DM Ex-U.S. & EM 50/50 Shariah Index - Benchmark TR Net, while PATN tracks Nasdaq International Patent Leaders Index. They also come from different issuers: SP Funds and Pacer. Their fees differ too: 0.55% for SPWO and 0.65% for PATN.

Which has better risk-adjusted returns?

PATN currently has the higher Sharpe Ratio (3.32 vs 2.44), 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.