VEXC vs. ECOW

Last updated Jun 4, 2026

VEXC (Vanguard Emerging Markets Ex-China ETF) and ECOW (Pacer Emerging Markets Cash Cows 100 ETF) are both Emerging Markets Equities funds - VEXC tracks the FTSE Emerging ex China Index while ECOW tracks the Pacer Emerging Markets Cash Cows 100 Index. Both are passively managed. A 0.78 correlation means they provide meaningful diversification when combined. VEXC charges 0.07%/yr vs 0.70%/yr for ECOW.

Performance

VEXC vs. ECOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Emerging Markets Ex-China ETF (VEXC) and Pacer Emerging Markets Cash Cows 100 ETF (ECOW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VEXC achieves a 20.21% return, which is significantly higher than ECOW's 13.10% return.

VEXC

• 1D: -1.20%
• 1M: 4.95%
• YTD: 20.21%
• 6M: 23.59%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

ECOW

• 1D: -1.50%
• 1M: -0.42%
• YTD: 13.10%
• 6M: 12.29%
• 1Y: 35.35%
• 3Y*: 19.90%
• 5Y*: 6.12%
• 10Y*: —

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

VEXC vs. ECOW - Yearly Performance Comparison

	2026 (YTD)	2025
VEXC Vanguard Emerging Markets Ex-China ETF	20.21%	4.80%
ECOW Pacer Emerging Markets Cash Cows 100 ETF	13.10%	3.90%

Correlation

The correlation between VEXC and ECOW is 0.78, 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 Oct 3, 2025	0.78

Return for Risk

VEXC vs. ECOW — Risk / Return Rank

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

ECOW

ECOW Risk / Return Rank: 77
ECOW Sharpe Ratio Rank: 76
ECOW Sortino Ratio Rank: 72
ECOW Omega Ratio Rank: 76
ECOW Calmar Ratio Rank: 81
ECOW Martin Ratio Rank: 79

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.

VEXC vs. ECOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Emerging Markets Ex-China ETF (VEXC) and Pacer Emerging Markets Cash Cows 100 ETF (ECOW). 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

	VEXC	ECOW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.50	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.35	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.21	0.37	+1.84

Drawdowns

VEXC vs. ECOW - Drawdown Comparison

The maximum VEXC drawdown since its inception was -12.42%, smaller than the maximum ECOW drawdown of -40.27%. Use the drawdown chart below to compare losses from any high point for VEXC and ECOW.

Drawdown Indicators

	VEXC	ECOW	Difference
Max Drawdown Largest peak-to-trough decline	-12.42%	-40.27%	+27.85%
Max Drawdown (1Y) Largest decline over 1 year	—	-8.35%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-18.77%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-33.67%	—
Current Drawdown Current decline from peak	-1.20%	-3.53%	+2.33%
Average Drawdown Average peak-to-trough decline	-2.23%	-11.07%	+8.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.30%	—

Volatility

Volatility by Period

	VEXC	ECOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.66%	—
Volatility (6M) Calculated over the trailing 6-month period	—	10.88%	—
Volatility (1Y) Calculated over the trailing 1-year period	18.89%	14.19%	+4.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.89%	17.65%	+1.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.89%	20.13%	-1.24%

VEXC vs. ECOW - Expense Ratio Comparison

VEXC has a 0.07% expense ratio, which is lower than ECOW's 0.70% expense ratio.

Dividends

VEXC vs. ECOW - Dividend Comparison

VEXC's dividend yield for the trailing twelve months is around 0.74%, less than ECOW's 4.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
ECOW Pacer Emerging Markets Cash Cows 100 ETF	4.60%	5.20%	7.35%	5.46%	7.50%	4.39%	3.35%	8.08%
VEXC Vanguard Emerging Markets Ex-China ETF	0.74%	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VEXC and ECOW in my portfolio?

VEXC and ECOW have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VEXC or ECOW?

On fees, VEXC is cheaper at 0.07% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VEXC or ECOW?

VEXC is cheaper with a 0.07% expense ratio, compared with 0.70% for ECOW.

Which ETF pays a higher dividend yield, VEXC or ECOW?

ECOW has the higher dividend yield at 4.60%, compared with 0.74% for VEXC.

What is the main difference between VEXC and ECOW?

VEXC tracks FTSE Emerging ex China Index, while ECOW tracks Pacer Emerging Markets Cash Cows 100 Index. They also come from different issuers: Vanguard and Pacer. Their fees differ too: 0.07% for VEXC and 0.70% for ECOW.