DIVI vs GCOW: Grades, Fees and Holdings Compared

Franklin International Core Dividend Tilt Index ETF

DIVIANYSE Arca

Pacer Global Cash Cows Dividend ETF

GCOWCCboe

Overlap

21.0%by weight

Expense ratio

DIVI −0.51pt a year

DIVI0.09%GCOW0.60%

Avg volume · 30D

GCOW 1.6×the volume

DIVI176KGCOW284K

10Y return · a year

DIVI +0.7pt

DIVI+11.2%GCOW+10.5%

DIVI vs GCOW Performance

Nov 9, 2021 – Nov 9, 2026

+87.1%DIVI+96.0%GCOW

Expense ratio: DIVI 0.09%, better; GCOW 0.60%
Fund size: DIVI $2.59B; GCOW $3.66B
1Y total return: DIVI +17.7%; GCOW +24.3%, better
Yield (12M): DIVI 3.66%; GCOW 4.78%, better
Holdings: DIVI 419; GCOW 108
Avg volume (30D): DIVI 176K sh; GCOW 284K sh, better
NAV per share: DIVI $41.69; GCOW $47.19
52W range

ETF.net Grade

Pillar letters and Scores for DIVI, GCOW, with each pillar’s weight
Pillar	DIVI	GCOW
Cost30% weight	A90Higher	F1
Mission25% weight	A100Higher	B57
Risk15% weight	C40	A72Higher
Tradability15% weight	B66	A82Higher
Holdings10% weight	A81Higher	C54
Durability5% weight	B65Higher	B62

Rank among International Dividend Index funds

How we build Categories ›

Same Category. DIVI and GCOW are both graded against the same 34 International Dividend Index funds, so their Grades compare head to head.

International Dividend Index⁠

Category · 34 funds

See all 34 ›

DIVI ranks 2nd and GCOW 28th of 34 funds in the International Dividend Index Category.

Rank 1AVYMIVanguard International High Dividend Yield ETFScore 84
Rank 2ADIVIFranklin International Core Dividend Tilt Index ETFScore 79
Rank 3ASCHYSchwab International Dividend Equity ETFScore 78
Rank 27CIDOGALPS International Sector Dividend Dogs ETFScore 49
Rank 28CGCOWPacer Global Cash Cows Dividend ETFScore 46
Rank 29CSDIVGlobal X SuperDividend ETFScore 45

Our read on each fund

ETF.net Research

DIVIAFranklin International Core Dividend Tilt Index ETF

GCOWCPacer Global Cash Cows Dividend ETF

In short

DIVI A tilt, not a screen: DIVI optimizes a broad developed-markets ex-North America index toward higher yield while limiting drift from that parent. Core international shape, income lean, 0.09% a year.

GCOW Cash first, dividends second. GCOW ranks global companies by free cash flow yield, then takes the big payers from that pool, so the income comes from businesses the screen says can actually fund it.

Stated mandate

DIVI The Fund seeks to track, before fees and expenses, the Morningstar Developed Markets ex-North America Dividend Enhanced Select Index. Its index methodology seeks higher dividend yield than the parent index while maintaining core exposure to developed markets outside North America.

GCOW The fund seeks income and capital appreciation by screening global companies for high free-cash-flow yield and dividend yield, using a rules-based quality and value methodology.

Why people hold it

DIVI Costs 0.09% a year, while the median fund in its international-dividend cohort charges closer to 0.50%.
The index takes a broad developed ex-North America benchmark and optimizes it for higher yield while limiting expected tracking error to that parent. Income lean, core shape.sec.gov
Tracks its index closely, among the strongest implementations in its peer group.
A multi-billion-dollar fund holding about 80 developed-market names, paying distributions quarterly.

GCOW The screen leads with free cash flow, not headline yield: global names are filtered on cash generation and value/quality rules before dividends decide the final cut.paceretfs.com
Truly global, not just overseas. The mandate covers developed markets worldwide in a concentrated basket of roughly 110 stocks, rules-based rather than manager-picked.paceretfs.com
Running since 2016 and now a multi-billion-dollar fund that trades with reasonable regularity, so getting in and out is rarely the hard part.
Income arrives on a quarterly schedule from the fund's own distribution calendar.paceretfs.com

Worth knowing

DIVI The tilt is mild by design: the index caps how far it can drift from its parent, so it reaches for less yield than funds built on hard high-yield screens.sec.gov
Cheaper options sit in the same cohort (VYMI at 0.07%, SCHY at 0.08%), so the fee edge is over the category median, not over the largest index shops.
Today's strategy dates to 2022, when the fund was renamed from Franklin LibertyQ International Equity Hedged ETF, so its 2016-onward record covers a different mandate.sec.gov

GCOW At 0.60% a year, it costs more than the typical dividend-screen fund and far more than plain index rivals like VYMI (0.07%) and SCHY (0.08%). The screen has to earn that gap.
Against its dividend-screen peer group, it sits in the lower tier once cost is weighed alongside how the portfolio is built.
No target payout is declared. Distributions rise and fall with what the underlying companies pay and with what the screen holds after each rebalance.paceretfs.com

Full DIVI profile⁠

Full GCOW profile⁠

DIVI vs GCOW Holdings

How DIVI and GCOW differ

Overlap by weight

21.0%

Shared holdings make up 64.4% of GCOW and 21.9% of DIVI.

Level by level

Holdings66 in both21.0%
Sector11 Sectors56.6%
Countryby domicile67.6%
Asset classStocks100%

Sector

Sector weights in DIVI and GCOW, widest gap first
Sector	Gap	DIVI	GCOW
Financials	DIVI +28.8 points	28.8%	0.0%
Consumer Staples	GCOW +16.3 points	7.0%	23.3%
Communication	GCOW +9.2 points	5.3%	14.5%
Health Care	GCOW +8.1 points	10.3%	18.4%
Energy	GCOW +7.4 points	3.7%	11.1%
Technology	DIVI +5.6 points	9.4%	3.8%
Industrials	DIVI +4.1 points	16.9%	12.8%
Utilities	GCOW +2.4 points	4.5%	6.9%
Real Estate	DIVI +2.2 points	2.2%	0.0%
Materials	DIVI +2.1 points	5.4%	3.3%
Consumer Discretionary	DIVI +0.5 points	6.5%	6.0%

Country, concentration and asset class

Country by domicile

Country weights in DIVI and GCOW, widest gap first
Country	Gap	DIVI	GCOW
United States	GCOW +23.0 points	0.2%	23.2%
Japan	DIVI +9.0 points	22.2%	13.2%
Netherlands	DIVI +3.9 points	5.5%	1.6%
Switzerland	DIVI +3.7 points	8.7%	5.0%
Australia	DIVI +3.8 points	8.5%	4.7%
Hong Kong	GCOW +3.0 points	2.7%	5.7%
Sweden	DIVI +2.9 points	2.9%	0.0%
Canada	GCOW +2.8 points	0.0%	2.8%
Other countries (20)	DIVI +5.5 points	49.2%	43.7%

Outside the US: DIVI 98% developed, 2% emerging. GCOW 95% developed, 5% emerging.

Concentration

Weight in the 10 largest Holdings

DIVI14.1%
GCOW21.9%

Securities held

DIVI417
GCOW103

Asset class

DIVI: Stocks
GCOW: Stocks

Holdings

Only in DIVI351
In both66
Only in GCOW37

Only in DIVI

351 securities, 78.1% of DIVI by weight

Asml Holding NV2.61%
Roche Holding AG1.60%
Hsbc Holdings PLC1.36%
Astrazeneca PLC1.30%
Siemens Ag-Reg1.16%
Sap SE1.13%
Bhp Group Ltd1.10%
Zurich Insurance Group AG1.01%
Intesa Sanpaolo0.98%
Mitsubishi Ufj Financial0.98%
Allianz Se-Reg0.87%
Commonwealth Bank of Aust0.79%
Rio Tinto PLC0.78%
Nordea Bank Abp0.75%
Recruit Holdings Co Ltd0.75%
Bnp Paribas0.74%
Dbs Group Holdings Ltd0.74%
Novo Nordisk A/S-B0.74%
Banco Bilbao Vizcaya Arge0.74%
Unicredit Spa0.71%
Axa SA0.67%
Advantest Corp0.63%
Hitachi Ltd0.60%
Schneider Electric SE0.59%
Sumitomo Mitsui Financial0.59%
Tokyo Electron Ltd0.59%
Airbus SE0.57%
Rolls-Royce Holdings PLC0.57%
Engie0.57%
Lvmh Moet Hennessy Louis0.57%
Sony Group Corp0.57%
Swedbank Ab - A Shares0.54%
Westpac Banking Corp0.50%
Natwest Group PLC0.50%
Abb Ltd-Reg0.50%
Muenchener Rueckver Ag-Re0.47%
Transurban Group0.47%
Woodside Energy Group Ltd0.47%
Hong Kong Exchanges & Cle0.47%
Anz Group Holdings Ltd0.46%
National Australia Bank L0.46%
Reckitt Benckiser Group0.46%
Shell PLC0.45%
Siemens Energy AG0.45%
Swiss Re AG0.44%
Ing Groep NV0.44%
Aviva PLC0.44%
Aia Group Ltd0.43%
Net Current Assets0.43%
Mitsubishi Corp0.43%

Only in GCOW

37 securities, 35.0% of GCOW by weight

Accenture PLC2.76%
Medtronic PLC2.36%
Chevron Corp2.14%
Pfizer Inc2.13%
Philip Morris International Inc2.10%
Bristol-Myers Squibb Co2.05%
Canadian Nat Res Ltd2.00%
Altria Group Inc1.99%
Comcast Corp1.93%
Verizon Communications Inc1.90%
PepsiCo Inc1.88%
AT&T Inc1.80%
Reckitt Benckiser Group PLC1.25%
Kia Corp0.73%
Henkel AG & Co Kgaa0.63%
Koninklijke Ahold Delhaize NV0.63%
Nutrien Ltd0.62%
SITC International Holdings Co Ltd0.58%
Nippon Yusen KK0.56%
Canon Inc0.55%
Cathay Pacific Airways Ltd0.47%
Orient Overseas Intl0.44%
Chow Tai Fook Jewellery0.39%
Jardine Matheson Holdings Ltd0.38%
Asahi Group Holdings Ltd0.35%
HMM Co Ltd0.33%
PRADA SpA0.30%
Thai Beverage PCL0.27%
Shenzhou International Group Holdings Ltd0.27%
Kirin Holdings Co Ltd0.25%
HD Korea Shipbuilding & Offshore Engineering Co Ltd0.25%
Meridian Energy Ltd0.19%
Hyundai Glovis Co Ltd0.18%
JB Hi-Fi Ltd0.17%
Suntory Beverage & Food Ltd0.16%
Australian Dollar<0.01%
Hong Kong Dollar0.00%

Weight gaps

All 66 Holdings in both funds, largest gap first.

Holding weights in DIVI and GCOW, widest gap first
Holding	Gap	DIVI	GCOW
Unilever PLCULVR.L	GCOW +1.42 points	0.80%	2.22%
Chugai Pharmaceutical Co	GCOW +1.36 points	0.15%	1.51%
Bp PLCBP.L	GCOW +1.33 points	0.60%	1.93%
Naturgy Energy Group SA	GCOW +1.31 points	0.07%	1.38%
Eni Spa	GCOW +1.29 points	0.64%	1.93%
Deutsche Telekom Ag-Reg	GCOW +1.25 points	0.45%	1.70%
Japan Tobacco Inc	GCOW +1.21 points	0.42%	1.63%
Softbank Corp	GCOW +1.18 points	0.54%	1.72%
Kddi Corp	GCOW +1.18 points	0.01%	1.19%
Vinci SA	GCOW +1.16 points	0.35%	1.51%
Gsk PLCGSK.L	GCOW +1.16 points	0.68%	1.84%
Totalenergies SE	GCOW +1.14 points	0.73%	1.87%
Csl Ltd	GCOW +1.13 points	0.34%	1.47%
Mercedes-Benz Group AG	GCOW +1.10 points	0.47%	1.57%
Orlen SA	GCOW +1.06 points	0.11%	1.17%
Toyota Motor Corp	DIVI +0.94 points	0.94%	<0.01%
Dhl AG	GCOW +0.93 points	0.50%	1.43%
Enel Spa	GCOW +0.93 points	0.90%	1.83%
Swisscom Ag-Reg	GCOW +0.89 points	0.08%	0.97%
Sanofi	GCOW +0.87 points	1.08%	1.95%
Endesa SA	GCOW +0.87 points	0.09%	0.96%
Takeda Pharmaceutical Co	GCOW +0.87 points	0.70%	1.57%
Basf SE	GCOW +0.86 points	0.42%	1.28%
British American TobaccoBATS.L	GCOW +0.85 points	1.10%	1.95%
Tesco PLCTSCO.L	GCOW +0.81 points	0.02%	0.83%
Diageo PLCDGE.L	GCOW +0.77 points	0.52%	1.29%
Novartis Ag-Reg	GCOW +0.75 points	1.31%	2.06%
Fortescue Ltd	GCOW +0.73 points	0.24%	0.97%
Danone	GCOW +0.71 points	0.20%	0.91%
Aena Sme SA	GCOW +0.71 points	0.20%	0.91%
Telstra Group Ltd	GCOW +0.62 points	0.18%	0.80%
Vodafone Group PLCVOD.L	GCOW +0.61 points	0.12%	0.73%
Daimler Truck Holding AG	GCOW +0.58 points	0.29%	0.87%
Nestle Sa-Reg	GCOW +0.57 points	1.47%	2.04%
Imperial Brands PLCIMB.L	GCOW +0.56 points	0.46%	1.02%
Bridgestone Corp	GCOW +0.56 points	0.10%	0.66%
Ck Hutchison Holdings Ltd	GCOW +0.54 points	0.11%	0.65%
Orange	GCOW +0.54 points	0.51%	1.05%
Denso Corp	GCOW +0.53 points	0.11%	0.64%
Ck Infrastructure Holding	GCOW +0.51 points	0.08%	0.59%
Swire Pacific Ltd - Class A	GCOW +0.47 points	0.02%	0.49%
Kone Oyj-B	GCOW +0.43 points	0.22%	0.65%
Clp Holdings Ltd	GCOW +0.44 points	0.20%	0.64%
Publicis Groupe	GCOW +0.42 points	0.25%	0.67%
Koninklijke Philips NV	GCOW +0.39 points	0.20%	0.59%
Galaxy Entertainment Grou	GCOW +0.38 points	0.14%	0.52%
Budweiser Brewing Co Apac	GCOW +0.36 points	0.02%	0.38%
Hong Kong & China Gas	GCOW +0.34 points	0.16%	0.50%
Brambles Ltd	GCOW +0.34 points	0.06%	0.40%
Veolia Environnement	GCOW +0.34 points	0.30%	0.64%
Fresnillo PLCFRES.L	GCOW +0.34 points	0.09%	0.43%
Power Assets Holdings Ltd	GCOW +0.34 points	0.16%	0.50%
Komatsu Ltd	GCOW +0.33 points	0.26%	0.59%
Wh Group Ltd	GCOW +0.32 points	0.09%	0.41%
Capgemini SE	GCOW +0.28 points	0.16%	0.44%
Sands China Ltd	GCOW +0.28 points	0.04%	0.32%
Wilmar International Ltd	GCOW +0.26 points	0.06%	0.32%
Singapore Airlines Ltd	GCOW +0.25 points	0.12%	0.37%
Astellas Pharma Inc	GCOW +0.24 points	0.34%	0.58%
Subaru Corp	GCOW +0.24 points	0.13%	0.37%
Coles Group Ltd	GCOW +0.22 points	0.13%	0.35%
Kawasaki Kisen Kaisha Ltd	GCOW +0.20 points	0.09%	0.29%
Jardine Matheson Southeas	GCOW +0.19 points	0.02%	0.21%
Origin Energy Ltd	GCOW +0.19 points	0.21%	0.40%
Wolters Kluwer	GCOW +0.18 points	0.31%	0.49%
Sonic Healthcare Ltd	GCOW +0.09 points	0.10%	0.19%

All DIVI holdings⁠All 111 GCOW holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

DIVI vs GCOW Cost

Overpaying GCOW vs DIVI

$9,919

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

DIVI 0.09%
$1,898
GCOW 0.60%
$11,817

Amount$10,000

Years30 years

Cost over time

DIVI 0.09%
GCOW 0.60%
Overpaying

Year by year

Year	DIVI	GCOW	Overpaying
10	$165	$1,076	$911
20	$646	$4,116	$3,470
30	$1,898	$11,817	$9,919

Expense ratio

0.09%DIVI, cheaper
0.60%GCOW

DIVI0.09%GCOW0.60%

0.07%0.60%

Middle half of International Dividend Index funds
Median 0.49%

DIVI 4th cheapest of 34 funds

GCOW 33rd cheapest of 34 funds

DIVI vs GCOW Dividends

Last 12 months to Nov 9, 2026

Yield (12M): DIVI 3.66%; GCOW 4.78%, better
Payout (12M): DIVI $1.57; GCOW $2.27
Last payment: DIVI $0.21; GCOW $0.43
Ex-dividend: DIVI Sep 18, 2026; GCOW Sep 3, 2026
Paid on: DIVI Sep 25, 2026; GCOW Sep 8, 2026
Frequency: DIVI Quarterly; GCOW Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

DIVIQuarterly · 28 paymentsAll DIVI payments⁠

GCOWQuarterly · 39 paymentsAll GCOW payments⁠

DIVI vs GCOW Risk

Fall from peak · 5 years

DIVI
GCOW

Risk facts

VolatilityStd dev, 3 years: DIVI 11.6%, betterGCOW 11.7%
Return per unit of riskSharpe ratio, 3 years: DIVI 1.30, betterGCOW 1.21
Worst fallMax drawdown, 5 years: DIVI −18.5%, betterGCOW −21.5%
Market sensitivityBeta, 5 years: DIVI 0.93GCOW 0.40; Market = 1

DIVI and GCOW in the news

All news⁠

ETF Filings
Franklin Templeton files two enhanced ETFs to absorb its international core funds
Sep 18, 2026DIVI

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DIVI vs GCOW

In short

Stated mandate

Why people hold it

Worth knowing

How DIVI and GCOW differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DIVI

Only in GCOW

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

Franklin Templeton files two enhanced ETFs to absorb its international core funds

How DIVI and GCOW differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in DIVI

Only in GCOW

Weight gaps