TDI vs. ICOW

Last updated Jun 4, 2026

TDI (Touchstone Dynamic International ETF) and ICOW (Pacer Developed Markets International Cash Cows 100 ETF) are both Foreign Large Cap Equities funds. TDI is actively managed, while ICOW is passively managed. Over the past year, TDI returned 42.61% vs 39.15% for ICOW. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.65% expense ratio.

Performance

TDI vs. ICOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Touchstone Dynamic International ETF (TDI) and Pacer Developed Markets International Cash Cows 100 ETF (ICOW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TDI achieves a 18.78% return, which is significantly higher than ICOW's 17.35% return.

TDI

• 1D: -1.13%
• 1M: 4.89%
• YTD: 18.78%
• 6M: 22.24%
• 1Y: 42.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ICOW

• 1D: -0.64%
• 1M: 3.47%
• YTD: 17.35%
• 6M: 18.06%
• 1Y: 39.15%
• 3Y*: 20.17%
• 5Y*: 10.06%
• 10Y*: —

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

TDI vs. ICOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TDI Touchstone Dynamic International ETF	18.78%	43.12%	6.39%	4.12%
ICOW Pacer Developed Markets International Cash Cows 100 ETF	17.35%	36.95%	-2.59%	4.71%

Correlation

The correlation between TDI and ICOW is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since Dec 12, 2023	0.78

The correlation between TDI and ICOW has been stable across timeframes, ranging from 0.78 to 0.79 - a consistent structural relationship.

TDI vs. ICOW - Sectors Allocation Comparison

Sectors	TDI	ICOW
Financial Services	21.5%	-
Technology	19.1%	6.2%
Industrials	17.9%	28.7%
Energy	10.3%	23.7%
Healthcare	9.9%	7.1%
Basic Materials	9.4%	5.4%
Communication Services	5.2%	8.9%
Consumer Cyclical	4.8%	11.6%
Utilities	1.2%	-
Consumer Defensive	0.6%	8.5%
Real Estate	-	-

Return for Risk

TDI vs. ICOW — Risk / Return Rank

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

TDI

TDI Risk / Return Rank: 74
TDI Sharpe Ratio Rank: 76
TDI Sortino Ratio Rank: 72
TDI Omega Ratio Rank: 74
TDI Calmar Ratio Rank: 72
TDI Martin Ratio Rank: 75

ICOW

ICOW Risk / Return Rank: 84
ICOW Sharpe Ratio Rank: 86
ICOW Sortino Ratio Rank: 82
ICOW Omega Ratio Rank: 82
ICOW Calmar Ratio Rank: 86
ICOW Martin Ratio Rank: 84

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.

TDI vs. ICOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Dynamic International ETF (TDI) 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.

	TDI	ICOW	Difference
Sharpe ratio: Return per unit of total volatility	2.47	2.87	-0.39
Sortino ratio: Return per unit of downside risk	3.25	3.72	-0.47
Omega ratio: Gain probability vs. loss probability	1.44	1.50	-0.07
Calmar ratio: Return relative to maximum drawdown	3.54	4.91	-1.37
Martin ratio: Return relative to average drawdown	14.18	17.54	-3.35
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TDI vs. ICOW - Sharpe Ratio Comparison

The current TDI Sharpe Ratio is 2.47, which is comparable to the ICOW Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of TDI and ICOW, 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

	TDI	ICOW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	2.87	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.74	0.55	+1.19

Drawdowns

TDI vs. ICOW - Drawdown Comparison

The maximum TDI drawdown since its inception was -14.99%, smaller than the maximum ICOW drawdown of -43.49%. Use the drawdown chart below to compare losses from any high point for TDI and ICOW.

Drawdown Indicators

	TDI	ICOW	Difference
Max Drawdown Largest peak-to-trough decline	-14.99%	-43.49%	+28.50%
Max Drawdown (1Y) Largest decline over 1 year	-12.09%	-8.02%	-4.07%
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	-1.13%	-0.64%	-0.49%
Average Drawdown Average peak-to-trough decline	-2.21%	-7.59%	+5.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.01%	2.24%	+0.77%

Volatility

TDI vs. ICOW - Volatility Comparison

Touchstone Dynamic International ETF (TDI) has a higher volatility of 6.02% compared to Pacer Developed Markets International Cash Cows 100 ETF (ICOW) at 4.41%. This indicates that TDI's price experiences larger fluctuations and is considered to be riskier than ICOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TDI	ICOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.02%	4.41%	+1.61%
Volatility (6M) Calculated over the trailing 6-month period	14.88%	10.59%	+4.29%
Volatility (1Y) Calculated over the trailing 1-year period	17.31%	13.73%	+3.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.84%	16.64%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.84%	18.47%	-1.63%

TDI vs. ICOW - Expense Ratio Comparison

Both TDI and ICOW have an expense ratio of 0.65%.

Dividends

TDI vs. ICOW - Dividend Comparison

TDI's dividend yield for the trailing twelve months is around 1.63%, less than ICOW's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ICOW Pacer Developed Markets International Cash Cows 100 ETF	2.12%	3.03%	4.39%	3.61%	5.26%	2.11%	2.46%	3.10%	2.61%	0.80%
TDI Touchstone Dynamic International ETF	1.63%	1.94%	3.39%	0.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TDI and ICOW in my portfolio?

TDI and ICOW have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TDI or ICOW?

TDI has higher volatility (6.02%) compared to ICOW (4.41%). In terms of maximum drawdown, TDI dropped -14.99% vs ICOW's -43.49%.

Which ETF is better, TDI or ICOW?

On 1-year performance, TDI leads with 42.61% vs 39.15% for ICOW. Both ETFs have the same 0.65% expense ratio. On volatility, ICOW has been the lower-risk option at 4.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, TDI or ICOW?

Over the 1-year period, TDI has performed better with a 42.61% return vs 39.15%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, TDI or ICOW?

TDI and ICOW have the same expense ratio: 0.65% per year.

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

ICOW has the higher dividend yield at 2.12%, compared with 1.63% for TDI.

What is the main difference between TDI and ICOW?

They also come from different issuers: Touchstone and Pacer.

Which has better risk-adjusted returns?

ICOW currently has the higher Sharpe Ratio (2.87 vs 2.47), 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.