SYZ vs. CALF

Last updated Jun 4, 2026

SYZ (Lazard US Systematic Small Cap Equity ETF) and CALF (Pacer US Small Cap Cash Cows 100 ETF) are both Small Cap Blend Equities funds. SYZ is actively managed, while CALF is passively managed. A 0.74 correlation means they provide meaningful diversification when combined. SYZ charges 0.60%/yr vs 0.59%/yr for CALF.

Performance

SYZ vs. CALF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Lazard US Systematic Small Cap Equity ETF (SYZ) 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, SYZ achieves a 17.30% return, which is significantly higher than CALF's 13.34% return.

SYZ

• 1D: -1.04%
• 1M: 2.63%
• YTD: 17.30%
• 6M: 17.99%
• 1Y: —
• 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)

SYZ vs. CALF - Yearly Performance Comparison

	2026 (YTD)	2025
SYZ Lazard US Systematic Small Cap Equity ETF	17.30%	0.89%
CALF Pacer US Small Cap Cash Cows 100 ETF	13.34%	2.58%

Correlation

The correlation between SYZ and CALF is 0.74, 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 Sep 16, 2025	0.74

Return for Risk

SYZ vs. CALF — Risk / Return Rank

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

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.

SYZ vs. CALF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Lazard US Systematic Small Cap Equity ETF (SYZ) 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.

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

Sharpe Ratios by Period

	SYZ	CALF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.93	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.18	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	0.37	+1.23

Drawdowns

SYZ vs. CALF - Drawdown Comparison

The maximum SYZ drawdown since its inception was -8.00%, smaller than the maximum CALF drawdown of -47.58%. Use the drawdown chart below to compare losses from any high point for SYZ and CALF.

Drawdown Indicators

	SYZ	CALF	Difference
Max Drawdown Largest peak-to-trough decline	-8.00%	-47.58%	+39.58%
Max Drawdown (1Y) Largest decline over 1 year	—	-6.15%	—
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	-1.04%	-1.95%	+0.91%
Average Drawdown Average peak-to-trough decline	-2.09%	-10.74%	+8.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.15%	—

Volatility

Volatility by Period

	SYZ	CALF	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.92%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.47%	—
Volatility (1Y) Calculated over the trailing 1-year period	16.65%	15.84%	+0.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.65%	23.44%	-6.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.65%	26.02%	-9.37%

SYZ vs. CALF - Expense Ratio Comparison

SYZ has a 0.60% expense ratio, which is higher than CALF's 0.59% expense ratio.

Dividends

SYZ vs. CALF - Dividend Comparison

SYZ's dividend yield for the trailing twelve months is around 0.14%, 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%
SYZ Lazard US Systematic Small Cap Equity ETF	0.14%	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 SYZ and CALF in my portfolio?

SYZ and CALF have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SYZ or CALF?

On fees, CALF is cheaper at 0.59% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SYZ or CALF?

CALF is cheaper with a 0.59% expense ratio, compared with 0.60% for SYZ.

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

CALF has the higher dividend yield at 1.28%, compared with 0.14% for SYZ.

What is the main difference between SYZ and CALF?

They also come from different issuers: Lazard and Pacer. Their fees differ too: 0.60% for SYZ and 0.59% for CALF.