ECOW vs EELV: Grades, Fees and Holdings Compared

Pacer Emerging Markets Cash Cows 100 ETF

ECOWDNasdaq

Invesco S&P Emerging Markets Low Volatility ETF

EELVBNYSE Arca

Overlap

12.8%by weight

Expense ratio

EELV −0.41pt a year

ECOW0.70%EELV0.29%

Avg volume · 30D

EELV 1.5×the volume

ECOW36.8KEELV56K

5Y return · a year

ECOW +0.3pt

ECOW+7.0%EELV+6.7%

ECOW vs EELV Performance

Oct 29, 2021 – Oct 30, 2026

+40.6%ECOW+38.0%EELV

Expense ratio: ECOW 0.70%; EELV 0.29%, better
Fund size: ECOW $194M; EELV $386M
1Y total return: ECOW +7.9%; EELV +8.5%, better
Yield (12M): ECOW 5.95%, better; EELV 4.40%
Holdings: ECOW 107; EELV 208
Avg volume (30D): ECOW 36.8K sh; EELV 56K sh, better
NAV per share: ECOW $25.50; EELV $27.86
52W range

ETF.net Grade

Pillar letters and Scores for ECOW, EELV, with each pillar’s weight
Pillar	ECOW	EELV
Cost30% weight	F23	A78Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	B56	B68Higher
Tradability15% weight	D39	C40Higher
Holdings10% weight	C49	B69Higher
Durability5% weight	D37	A70Higher

Rank among Emerging Markets Factor Index funds

How we build Categories ›

Same Category. ECOW and EELV are both graded against the same 10 Emerging Markets Factor Index funds, so their Grades compare head to head.

Emerging Markets Factor Index⁠

Category · 10 funds

See all 10 ›

EELV ranks 2nd and ECOW 8th of 10 funds in the Emerging Markets Factor Index Category.

Rank 1AEEMViShares MSCI Emerging Markets Min Vol Factor ETFScore 78
Rank 2BEELVInvesco S&P Emerging Markets Low Volatility ETFScore 66
Rank 3BFNDESchwab Fundamental Emerging Markets Large Company Index ETFScore 64
Rank 7CDEHPDimensional Emerging Markets High Profitability ETFScore 42
Rank 8DECOWPacer Emerging Markets Cash Cows 100 ETFScore 37
Rank 9DPIEInvesco Dorsey Wright Emerging Markets Momentum ETFScore 30

Our read on each fund

ETF.net Research

ECOWDPacer Emerging Markets Cash Cows 100 ETF

EELVBInvesco S&P Emerging Markets Low Volatility ETF

In short

ECOW The emerging-markets arm of Pacer's Cash Cows family: rank the FTSE Emerging universe by free cash flow yield, keep the 100 best, then cap any single country or sector at 20 names. Cap-weighted EM this is not.

EELV EELV hunts the calm corners of emerging markets: roughly 200 of the least volatile stocks in a broad EM universe, chosen by rule rather than by a manager's hunch. Same asset class, deliberately lower-drama construction.

Stated mandate

ECOW The Fund seeks capital appreciation by screening the FTSE Emerging Markets Index for 100 emerging-market companies with high free cash flow yield.

EELV The fund provides exposure to emerging-market stocks selected for low volatility by tracking the S&P BMI Emerging Markets Low Volatility Index.

Why people hold it

ECOW Ranks the FTSE Emerging Markets universe on trailing free cash flow yield, holds the top 100, and weights them by the cash they actually generate, capped at 2% each.sec.gov
Caps of 20 companies per country and per sector loosen the China-and-Taiwan grip built into standard cap-weighted emerging-markets indexes.sec.gov
Size and liquidity screens apply before the ranking: no sub-$2B market caps, no names trading under $5M a day. Live since 2019, pays quarterly.sec.gov

EELV At 0.29% a year it undercuts the median fee in its emerging-markets factor cohort (0.44%), and it has run the same low-volatility rulebook since its 2012 launch.
The rule is plain: track the S&P BMI Emerging Markets Low Volatility Index, which screens a broad EM universe on realized volatility. No stock-picker discretion.invesco.com
Roughly 200 holdings means no single name or headline steers the whole portfolio, and distributions land on a quarterly schedule.

Worth knowing

ECOW Costs 0.70% a year, above the typical emerging-markets factor fund. Low-vol peers EEMV (0.25%) and EELV (0.29%) run for a fraction of that.
Financials other than REITs are screened out entirely, so EM banks and insurers, a large slice of the asset class, never make the cut.sec.gov
A 100-stock, deep-value portfolio can move very differently from a broad EM index of hundreds of names, in both directions.sec.gov

EELV It trades lightly next to the category's largest funds, so the spread paid at the trade can matter as much as the 0.29% fee.
A pure volatility screen reshapes the map: sector and country weights can sit far from a standard cap-weighted emerging-markets index.invesco.com
Cheap, but not the cheapest low-vol EM shelf: iShares' EEMV lists a 0.25% fee.

Full ECOW profile⁠

Full EELV profile⁠

ECOW vs EELV Holdings

As of Oct 23, 2026

How ECOW and EELV differ

Overlap by weight

12.8%

Shared holdings make up 35.1% of ECOW and 13.0% of EELV.

Level by level

Holdings28 in both12.8%
Sector11 Sectors55.2%
Countryby domicile73.9%
Asset classEquity100%

Sector

Sector weights in ECOW and EELV, widest gap first
Sector	More in ECOWMore in EELV	ECOW	EELV
Financials	EELV +40.4 points	0.0%	40.4%
Consumer Discretionary	ECOW +10.3 points	14.8%	4.5%
Energy	ECOW +10.2 points	16.4%	6.2%
Communication	ECOW +9.9 points	19.0%	9.1%
Materials	ECOW +8.7 points	13.2%	4.5%
Technology	ECOW +3.2 points	3.4%	0.2%
Real Estate	EELV +2.4 points	0.0%	2.4%
Consumer Staples	ECOW +1.6 points	11.2%	9.6%
Utilities	EELV +1.2 points	7.9%	9.1%
Health Care	ECOW +0.9 points	4.4%	3.5%
Industrials	EELV +0.7 points	9.8%	10.5%

Country, concentration and asset class

Country by domicile

Country weights in ECOW and EELV, widest gap first
Country	More in ECOWMore in EELV	ECOW	EELV
Malaysia	EELV +12.4 points	3.6%	16.0%
South Africa	ECOW +11.0 points	22.9%	11.9%
Thailand	EELV +5.9 points	5.5%	11.4%
Brazil	ECOW +4.8 points	13.3%	8.5%
China	EELV +4.8 points	20.0%	24.8%
Indonesia	ECOW +3.8 points	3.8%	0.0%
Greece	ECOW +3.4 points	3.4%	0.0%
Poland	EELV +1.7 points	0.0%	1.7%
Other countries (7)	ECOW +1.8 points	27.5%	25.7%

Outside the US: ECOW 0% developed, 100% emerging. EELV 0% developed, 100% emerging.

Concentration

Weight in the 10 largest Holdings

ECOW22.8%
EELV8.7%

Securities held

ECOW101
EELV201

Asset class

ECOW: Equity
EELV: Equity

Holdings

Only in ECOW73
In both28
Only in EELV173

Only in ECOW

73 securities, 64.4% of ECOW by weight

Formosa Petrochemical Corp2.74%
Turkiye Petrol Rafinerileri AS2.49%
Axia Energia SA2.32%
NetEase Inc2.04%
Gold Fields Ltd1.99%
Industrias Penoles SAB de CV1.93%
Motor Oil Hellas Corinth Refineries SA1.93%
PTT Global Chemical PCL1.89%
MTN Group Ltd1.82%
Astra International Tbk PT1.77%
Latam Airlines Group SA1.76%
TIM SA/Brazil1.59%
Geely Automobile Holdings Ltd1.55%
JD Health International Inc1.55%
BYD Electronic International Co Ltd1.55%
Telkom Indonesia Persero Tbk PT1.52%
Anhui Conch Cement Co Ltd1.33%
Great Wall Motor Co Ltd1.30%
3SBio Inc1.27%
Kunlun Energy Co Ltd1.27%
Zhejiang Leapmotor Technology Co Ltd1.22%
JD Logistics Inc1.20%
Eregli Demir ve Celik Fabrikalari TAS1.14%
Ford Otomotiv Sanayi AS1.12%
Far Eastern New Century Corp1.09%
Central Retail Corp PCL1.08%
Sasol Ltd1.04%
Sime Darby Bhd0.95%
New Oriental Education & Technology Group Inc0.91%
PTT Oil & Retail Business PCL0.83%
Talabat Holding PLC0.81%
United Integrated Services Co Ltd0.80%
Kumba Iron Ore Ltd0.77%
Richter Gedeon Nyrt0.77%
Bosideng International Holdings Ltd0.77%
Magyar Telekom Telecommunications PLC0.77%
Harmony Gold Mining Co Ltd0.71%
Hellenic Telecommunications Organization SA0.69%
Yadea Group Holdings Ltd0.64%
Iskenderun Demir ve Celik AS0.62%
Realtek Semiconductor Corp0.62%
Bilibili Inc0.60%
Global Power Synergy PCL0.56%
Lojas Renner SA0.53%
Li Ning Co Ltd0.51%
Wan Hai Lines Ltd0.49%
Mr Price Group Ltd0.44%
Fertiglobe plc0.44%
Gruma SAB de CV0.43%
Tongcheng Travel Holdings Ltd0.42%

Only in EELV

173 securities, 86.6% of EELV by weight

Kuwait Finance House KSCP1.14%
Chunghwa Telecom Co Ltd0.97%
Borouge PLC0.88%
Boubyan Bank KSCP0.87%
Taiwan Mobile Co Ltd0.85%
Tisco Financial Group PCL0.82%
Taiwan Cooperative Financial Holding Co Ltd0.81%
Saudi Telecom Co0.81%
Warba Bank KSCP0.81%
Gulf Bank KSCP0.76%
Tenaga Nasional Bhd0.75%
Chang Hwa Commercial Bank Ltd0.73%
Qatar Fuel QSC0.73%
NEPI Rockcastle NV0.72%
Shanghai Commercial & Savings Bank Ltd/The0.72%
National Bank of Kuwait SAKP0.70%
Saudi Arabian Oil Co0.70%
Al Rayan Bank0.69%
Mobile Telecommunications Co KSCP0.68%
Al Ahli Bank of Kuwait KSCP0.68%
Malayan Banking Bhd0.68%
Scb X Pcl0.67%
First Financial Holding Co Ltd0.66%
Bank of Communications Co Ltd0.63%
Bid Corp Ltd0.63%
IOI Corp Bhd0.63%
RHB Bank Bhd0.61%
Shanghai Pharmaceuticals Holding Co Ltd0.61%
Jarir Marketing Co0.60%
Mega Financial Holding Co Ltd0.60%
Saudi Awwal Bank0.60%
Public Bank Bhd0.60%
AMMB Holdings Bhd0.59%
Remgro Ltd0.58%
SD Guthrie Bhd0.58%
Abu Dhabi National Oil Co for Distribution PJSC0.58%
E.Sun Financial Holding Co Ltd0.58%
Bank of China Ltd0.57%
Kasikornbank PCL0.57%
IHH Healthcare Bhd0.56%
Industrial & Commercial Bank of China Ltd0.56%
Postal Savings Bank of China Co Ltd0.55%
Jiangsu Expressway Co Ltd0.55%
China Merchants Bank Co Ltd0.55%
Ptt Pcl0.54%
China Construction Bank Corp0.53%
Komercni Banka AS0.53%
Riyad Bank0.53%
China Tower Corp Ltd0.52%
Sinopharm Group Co Ltd0.52%

Weight gaps

All 28 Holdings in both funds, largest gap first.

Holding weights in ECOW and EELV, widest gap first
Holding	More in ECOWMore in EELV	ECOW	EELV
Petroleo Brasileiro SA - Petrobras	ECOW +2.42 points	2.85%	0.43%
Emirates Telecommunications Group Co PJSC	ECOW +1.77 points	2.22%	0.45%
Ambev SA	ECOW +1.69 points	2.07%	0.38%
Telefonica Brasil SA	ECOW +1.59 points	2.00%	0.41%
Fomento Economico Mexicano SAB de CV	ECOW +1.56 points	2.05%	0.49%
Dubai Electricity & Water Authority PJSC	ECOW +1.53 points	2.01%	0.48%
Vodacom Group Ltd	ECOW +1.35 points	1.84%	0.49%
Adnoc Gas PLC	ECOW +1.31 points	1.92%	0.61%
Wal-Mart de Mexico SAB de CV	ECOW +1.31 points	1.79%	0.48%
Uni-President Enterprises Corp	ECOW +1.17 points	1.81%	0.64%
CPFL Energia SA	ECOW +1.06 points	1.45%	0.39%
ADNOC Drilling Co PJSC	ECOW +0.93 points	1.33%	0.40%
Eva Airways Corp	ECOW +0.93 points	1.32%	0.39%
Ooredoo QPSC	ECOW +0.67 points	1.11%	0.44%
Shoprite Holdings Ltd	ECOW +0.67 points	1.22%	0.55%
Far EasTone Telecommunications Co Ltd	ECOW +0.48 points	1.03%	0.55%
Coca-Cola Femsa SAB de CV	ECOW +0.41 points	0.89%	0.48%
Enel Chile SA	ECOW +0.40 points	0.81%	0.41%
Petronas Dagangan Bhd	ECOW +0.32 points	0.72%	0.40%
Engie Brasil Energia SA	ECOW +0.26 points	0.61%	0.35%
MISC Bhd	ECOW +0.24 points	0.81%	0.57%
President Chain Store Corp	ECOW +0.14 points	0.66%	0.52%
Telekom Malaysia Bhd	ECOW +0.08 points	0.52%	0.44%
Bangkok Dusit Medical Services PCL	EELV +0.08 points	0.42%	0.50%
Exxaro Resources Ltd	EELV +0.06 points	0.33%	0.39%
Bidvest Group Ltd	EELV +0.02 points	0.50%	0.52%
International Games System Co Ltd	EELV +0.01 points	0.43%	0.44%
Kimberly-Clark de Mexico SAB de CV	Same weight	0.39%	0.39%

All 120 ECOW holdings⁠All 202 EELV 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.

ECOW vs EELV Cost

Overpaying ECOW vs EELV

$7,654

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

ECOW 0.70%
$13,606
EELV 0.29%
$5,952

Amount$10,000

Years30 years

Cost over time

ECOW 0.70%
EELV 0.29%
Overpaying

Year by year

Year	ECOW	EELV	Overpaying
10	$1,250	$527	$723
20	$4,760	$2,044	$2,716
30	$13,606	$5,952	$7,654

Expense ratio

0.70%ECOW
0.29%EELV, cheaper

EELV0.29%ECOW0.70%

0.25%0.90%

Middle half of Emerging Markets Factor Index funds
Median 0.44%

EELV 2nd cheapest of 10 funds

ECOW 8th cheapest of 10 funds

ECOW vs EELV Dividends

Last 12 months to Oct 30, 2026

Yield (12M): ECOW 5.95%, better; EELV 4.40%
Payout (12M): ECOW $1.51; EELV $1.22
Last payment: ECOW $0.56; EELV $0.43
Ex-dividend: ECOW Sep 3, 2026; EELV Sep 21, 2026
Paid on: ECOW Sep 8, 2026; EELV Sep 25, 2026
Frequency: ECOW Quarterly; EELV Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

ECOWQuarterly · 28 paymentsAll ECOW payments⁠

EELVQuarterly · 39 paymentsAll EELV payments⁠

ECOW vs EELV Risk

Fall from peak · 5 years

ECOW
EELV

Risk facts

VolatilityStd dev, 3 years: ECOW 12.5%EELV 9.2%, better
Return per unit of riskSharpe ratio, 3 years: ECOW 1.07, betterEELV 0.92
Worst fallMax drawdown, 5 years: ECOW −33.3%EELV −19.0%, better
Market sensitivityBeta, 5 years: ECOW 0.80EELV 0.60; Market = 1

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