VIDI vs. ICOW

Last updated Jun 4, 2026

VIDI (Vident International Equity Fund) and ICOW (Pacer Developed Markets International Cash Cows 100 ETF) are both Foreign Large Cap Equities funds - VIDI tracks the Vident International Equity Index while ICOW tracks the Pacer Developed Markets International Cash Cows 100 Index. Both are passively managed. Over the past 5 years, VIDI returned 12.15%/yr vs 10.06%/yr for ICOW. Their correlation of 0.84 suggests significant overlap in exposure. VIDI charges 0.59%/yr vs 0.65%/yr for ICOW.

Performance

VIDI vs. ICOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vident International Equity Fund (VIDI) 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, VIDI achieves a 22.55% return, which is significantly higher than ICOW's 17.35% return.

VIDI

• 1D: -0.55%
• 1M: 7.84%
• YTD: 22.55%
• 6M: 25.74%
• 1Y: 49.83%
• 3Y*: 27.42%
• 5Y*: 12.15%
• 10Y*: 10.99%

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)

VIDI vs. ICOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIDI Vident International Equity Fund	22.55%	41.83%	6.03%	18.92%	-13.83%	11.93%	1.18%	15.84%	-17.65%	11.58%
ICOW Pacer Developed Markets International Cash Cows 100 ETF	17.35%	36.95%	-2.59%	18.94%	-7.98%	11.52%	7.20%	17.91%	-16.09%	16.98%

Correlation

The correlation between VIDI and ICOW is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jun 20, 2017	0.84

The correlation between VIDI and ICOW has been stable across timeframes, ranging from 0.82 to 0.87 - a consistent structural relationship.

VIDI vs. ICOW - Sectors Allocation Comparison

Sectors	VIDI	ICOW
Industrials	18.8%	28.7%
Financial Services	18.5%	-
Technology	13.7%	6.2%
Consumer Cyclical	10.4%	11.6%
Basic Materials	8.4%	5.4%
Energy	8.0%	23.7%
Consumer Defensive	6.2%	8.5%
Healthcare	6.1%	7.1%
Communication Services	6.0%	8.9%
Utilities	3.1%	-
Real Estate	0.8%	-

Return for Risk

VIDI vs. ICOW — Risk / Return Rank

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

VIDI

VIDI Risk / Return Rank: 90
VIDI Sharpe Ratio Rank: 93
VIDI Sortino Ratio Rank: 92
VIDI Omega Ratio Rank: 92
VIDI Calmar Ratio Rank: 87
VIDI Martin Ratio Rank: 87

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.

VIDI vs. ICOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vident International Equity Fund (VIDI) 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.

	VIDI	ICOW	Difference
Sharpe ratio: Return per unit of total volatility	3.47	2.87	+0.61
Sortino ratio: Return per unit of downside risk	4.50	3.72	+0.78
Omega ratio: Gain probability vs. loss probability	1.63	1.50	+0.13
Calmar ratio: Return relative to maximum drawdown	4.97	4.91	+0.07
Martin ratio: Return relative to average drawdown	19.17	17.54	+1.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VIDI vs. ICOW - Sharpe Ratio Comparison

The current VIDI Sharpe Ratio is 3.47, which is comparable to the ICOW Sharpe Ratio of 2.87. The chart below compares the historical Sharpe Ratios of VIDI 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

	VIDI	ICOW	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.47	2.87	+0.61
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.77	0.61	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.55	-0.12

Drawdowns

VIDI vs. ICOW - Drawdown Comparison

The maximum VIDI drawdown since its inception was -48.39%, which is greater than ICOW's maximum drawdown of -43.49%. Use the drawdown chart below to compare losses from any high point for VIDI and ICOW.

Drawdown Indicators

	VIDI	ICOW	Difference
Max Drawdown Largest peak-to-trough decline	-48.39%	-43.49%	-4.90%
Max Drawdown (1Y) Largest decline over 1 year	-10.07%	-8.02%	-2.05%
Max Drawdown (3Y) Largest decline over 3 years	-14.54%	-14.81%	+0.27%
Max Drawdown (5Y) Largest decline over 5 years	-30.00%	-28.48%	-1.52%
Max Drawdown (10Y) Largest decline over 10 years	-48.39%	—	—
Current Drawdown Current decline from peak	-1.03%	-0.64%	-0.39%
Average Drawdown Average peak-to-trough decline	-10.39%	-7.59%	-2.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	2.24%	+0.37%

Volatility

VIDI vs. ICOW - Volatility Comparison

Vident International Equity Fund (VIDI) and Pacer Developed Markets International Cash Cows 100 ETF (ICOW) have volatilities of 4.35% and 4.41%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIDI	ICOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.35%	4.41%	-0.06%
Volatility (6M) Calculated over the trailing 6-month period	11.94%	10.59%	+1.35%
Volatility (1Y) Calculated over the trailing 1-year period	14.44%	13.73%	+0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.94%	16.64%	-0.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.02%	18.47%	-0.45%

VIDI vs. ICOW - Expense Ratio Comparison

VIDI has a 0.59% expense ratio, which is lower than ICOW's 0.65% expense ratio.

Dividends

VIDI vs. ICOW - Dividend Comparison

VIDI's dividend yield for the trailing twelve months is around 3.62%, more than ICOW's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%	0.00%	0.00%
VIDI Vident International Equity Fund	3.62%	4.26%	4.93%	4.14%	5.85%	4.62%	2.51%	3.35%	2.80%	2.21%	1.92%	2.25%

Frequently Asked Questions

Can I hold both VIDI and ICOW in my portfolio?

VIDI and ICOW have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIDI or ICOW?

ICOW has higher volatility (4.41%) compared to VIDI (4.35%). In terms of maximum drawdown, VIDI dropped -48.39% vs ICOW's -43.49%.

Which ETF is better, VIDI or ICOW?

On 5-year performance, VIDI leads with 12.15% vs 10.06% for ICOW. On fees, VIDI is cheaper at 0.59% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VIDI or ICOW?

Over the 5-year period, VIDI has performed better with a 12.15% return vs 10.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VIDI or ICOW?

VIDI is cheaper with a 0.59% expense ratio, compared with 0.65% for ICOW.

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

VIDI has the higher dividend yield at 3.62%, compared with 2.12% for ICOW.

What is the main difference between VIDI and ICOW?

VIDI tracks Vident International Equity Index, while ICOW tracks Pacer Developed Markets International Cash Cows 100 Index. They also come from different issuers: Vident and Pacer. Their fees differ too: 0.59% for VIDI and 0.65% for ICOW.

Which has better risk-adjusted returns?

VIDI currently has the higher Sharpe Ratio (3.47 vs 2.87), 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.