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ECOW vs FNDE

Pacer Emerging Markets Cash Cows 100 ETF

ECOWDNasdaq

Schwab Fundamental Emerging Markets Large Company Index ETF

FNDEBNYSE Arca

Overlap

8.3%by weight

Expense ratio

FNDE −0.31pt a year

ECOW0.70%FNDE0.39%

Avg volume · 30D

FNDE 41.6×the volume

ECOW36.8KFNDE1.53M

5Y return · a year

FNDE +2.6pt

ECOW+7.0%FNDE+9.6%

ECOW vs FNDE Performance

Oct 29, 2021 – Oct 30, 2026

+40.6%ECOW+58.4%FNDE

Oct 29, 2021 to Oct 30, 2026. ECOW +40.6%. FNDE +58.4%. Use the arrow keys to read each point.−20%0%20%Oct 2021Apr 2024Oct 2026
Expense ratio
ECOW 0.70%
FNDE 0.39%, better
Fund size
ECOW $194M
FNDE $9.97B
1Y total return
ECOW +7.9%
FNDE +14.4%, better
Yield (12M)
ECOW 5.95%, better
FNDE 3.66%
Holdings
ECOW 107
FNDE 370
Avg volume (30D)
ECOW 36.8K sh
FNDE 1.53M sh, better
NAV per share
ECOW $25.50
FNDE $40.60
52W range

ETF.net Grade

ECOW: Cost 23, Risk 56, Mission not scored, Tradability 39, Holdings 49, Durability 37. FNDE: Cost 62, Risk 61, Mission 96, Tradability 74, Holdings 54, Durability 79.
Pillar letters and Scores for ECOW, FNDE, with each pillar’s weight
PillarECOWFNDE
Cost30% weightF23B62Higher
Mission25% weightNot scoredA96
Risk15% weightB56B61Higher
Tradability15% weightD39A74Higher
Holdings10% weightC49C54Higher
Durability5% weightD37A79Higher

Rank among Emerging Markets Factor Index funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. ECOW and FNDE 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 ›

FNDE ranks 3rd and ECOW 8th of 10 funds in the Emerging Markets Factor Index Category.

  1. Rank 1AEEMViShares MSCI Emerging Markets Min Vol Factor ETFScore 78
  2. Rank 2BEELVInvesco S&P Emerging Markets Low Volatility ETFScore 66
  3. Rank 3BFNDESchwab Fundamental Emerging Markets Large Company Index ETFScore 64
  4. Rank 4BPXHInvesco RAFI Emerging Markets ETFScore 57
  5. Rank 7CDEHPDimensional Emerging Markets High Profitability ETFScore 42
  6. Rank 8DECOWPacer Emerging Markets Cash Cows 100 ETFScore 37
  7. Rank 9DPIEInvesco Dorsey Wright Emerging Markets Momentum ETFScore 30

Our read on each fund

ETF.net Research

ECOWDPacer Emerging Markets Cash Cows 100 ETF

FNDEBSchwab Fundamental Emerging Markets Large Company Index 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.

FNDE Most emerging-markets funds size a position by its market price. FNDE sizes it by the business behind it, weighting large EM companies on fundamental measures instead of market cap. Schwab has run this value-leaning version since 2013.

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.

FNDE The fund seeks to track, before fees and expenses, an index of large companies in emerging-market countries selected and weighted according to fundamental size measures.

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
  • FNDE Weights by fundamental size, not market cap, so a company's slot reflects its business footprint rather than what the market is currently paying for it. The value tilt is advertised, not accidental.schwabassetmanagement.com
  • At 0.39%, the fee sits under the 0.49% typical for emerging-markets ETFs. Rules-based weighting at an index-fund price.
  • A multi-billion-dollar fund that trades actively, and it has hugged its RAFI index closely. Two things that often go missing in EM, where thin books and tracking slippage are common.
  • Live since 2013, with a full market cycle of history behind the method. Among the strongest implementations in a crowded emerging-markets field.

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
  • FNDE Plain cap-weighted EM exposure costs less: VEXC at 0.07%, BKEM at 0.11%, XCEM at 0.16%. You are paying for the fundamental weighting.
  • Large companies only, about 400 of them, screened for liquidity. Narrower than total-market EM funds that reach into small caps.
  • A value tilt means results will separate from cap-weighted EM benchmarks in both directions. Distributions land once or twice a year, not monthly.

Full ECOW profile⁠

Full FNDE profile⁠

ECOW vs FNDE Holdings

As of

How ECOW and FNDE differ

Overlap by weight

8.3%

Shared holdings make up 40.0% of ECOW and 8.4% of FNDE.

Level by level

  • Holdings28 in both8.3%
  • Sector11 Sectors55.8%
  • Countryby domicile64.5%
  • Asset classEquity100%

Sector

Sector weights in ECOW and FNDE, widest gap first
SectorMore in ECOWMore in FNDE
FinancialsFNDE +26.4 points
TechnologyFNDE +16.4 points
CommunicationECOW +12.9 points
Consumer StaplesECOW +8.1 points
UtilitiesECOW +5.7 points
Consumer DiscretionaryECOW +5.4 points
IndustrialsECOW +4.9 points
Health CareECOW +4.0 points
MaterialsECOW +1.7 points
EnergyECOW +1.7 points
Real EstateFNDE +1.4 points

Country, concentration and asset class

Country by domicile

Country weights in ECOW and FNDE, widest gap first
CountryMore in ECOWMore in FNDE
South AfricaECOW +15.7 points
ChinaFNDE +14.3 points
IndiaFNDE +10.1 points
TaiwanFNDE +10.1 points
MexicoECOW +4.8 points
GreeceECOW +2.9 points
IndonesiaECOW +2.7 points
MalaysiaECOW +2.8 points
Other countries (6)ECOW +5.6 points

Outside the US: ECOW 0% developed, 100% emerging. FNDE 1% developed, 99% emerging.

Concentration

Weight in the 10 largest Holdings

  • ECOW22.8%
  • FNDE26.7%

Securities held

  • ECOW101
  • FNDE352

Asset class

ECOW
Equity
FNDE
Equity

Holdings

  • Only in ECOW73
  • In both28
  • Only in FNDE324

Only in ECOW

73 securities, 59.6% of ECOW by weight

  • Formosa Petrochemical Corp2.74%
  • Turkiye Petrol Rafinerileri AS2.49%
  • Emirates Telecommunications Group Co PJSC2.22%

Only in FNDE

324 securities, 91.6% of FNDE by weight

  • Taiwan Semiconductor Manufacturing5.60%
  • China Construction Bank Corp H2.86%
  • Hon Hai Precision Industry2.79%

Weight gaps

All 28 Holdings in both funds, largest gap first.

Holding weights in ECOW and FNDE, widest gap first
HoldingMore in ECOWMore in FNDE
Axia Energia SAECOW +2.17 points
Dubai Electricity & Water Authority PJSCECOW +1.94 points
Telefonica Brasil SAECOW +1.90 points
Ambev SAECOW +1.86 points
Gold Fields LtdECOW +1.77 points
NetEase IncECOW +1.70 points
Astra International Tbk PTECOW +1.66 points
Uni-President Enterprises CorpECOW +1.57 points

All 120 ECOW holdings⁠All 392 FNDE 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 FNDE Cost

Overpaying ECOW vs FNDE

$5,708

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

  • ECOW 0.70%

    $13,606

  • FNDE 0.39%

    $7,898

$10,000
30 years

Cost over time

  • ECOW 0.70%
  • FNDE 0.39%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K051015202530ECOW $13,606FNDE $7,898

Year by year

YearECOWFNDEOverpaying
10$1,250$705$545
20$4,760$2,725$2,035
30$13,606$7,898$5,708

Expense ratio

  • 0.70%ECOW
  • 0.39%FNDE, cheaper
  • Middle half of Emerging Markets Factor Index funds
  • Median 0.44%

FNDE 4th cheapest of 10 funds

ECOW 8th cheapest of 10 funds

ECOW vs FNDE Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
ECOW 5.95%, better
FNDE 3.66%
Payout (12M)
ECOW $1.51
FNDE $1.49
Last payment
ECOW $0.56
FNDE $0.19
Ex-dividend
ECOW Sep 3, 2026
FNDE Jun 24, 2026
Paid on
ECOW Sep 8, 2026
FNDE Jun 29, 2026
Frequency
ECOW Quarterly
FNDE Twice a year

Distribution history

Per share, 2017 to 2026, same scale for both

ECOWQuarterly · 28 paymentsAll ECOW payments⁠
One bar per payment. 28 payments from 2017 to 2026 YTD. Jun 25, 2019 $0.35; Sep 24, 2019 $0.26; Dec 24, 2019 $1.44; Mar 23, 2020 $0.03; Jun 22, 2020 $0.21; Sep 21, 2020 $0.55; Dec 21, 2020 $0.01; Mar 22, 2021 $0.08; Jun 21, 2021 $0.13; Sep 23, 2021 $0.61; Dec 23, 2021 $0.26; Mar 24, 2022 $0.14; Jun 23, 2022 $0.41; Sep 22, 2022 $0.69; Dec 22, 2022 $0.15; Mar 23, 2023 $0.06; Jun 22, 2023 $0.30; Sep 21, 2023 $0.56; Dec 27, 2023 $0.18; Mar 21, 2024 $0.03; Jun 27, 2024 $0.62; Sep 26, 2024 $0.23; Dec 27, 2024 $0.55; Jun 5, 2025 $0.14; Sep 4, 2025 $0.27; Dec 30, 2025 $0.86; Jun 4, 2026 $0.09; Sep 3, 2026 $0.56. Use the arrow keys to read each point.$0$12017202020232026YTD
FNDETwice a year · 20 paymentsAll FNDE payments⁠
One bar per payment. 20 payments from 2017 to 2026 YTD. Dec 18, 2017 $0.60; Dec 27, 2017 $0.01; Dec 12, 2018 $0.77; Dec 28, 2018 $0.02; Jun 26, 2019 $0.19; Dec 12, 2019 $0.85; Jun 24, 2020 $0.15; Dec 10, 2020 $0.56; Jun 23, 2021 $0.19; Dec 8, 2021 $1.13; Dec 30, 2021 $0.02; Jun 22, 2022 $0.26; Dec 7, 2022 $1.12; Jun 21, 2023 $0.27; Dec 6, 2023 $1.02; Jun 26, 2024 $0.23; Dec 13, 2024 $1.17; Jun 25, 2025 $0.21; Dec 11, 2025 $1.30; Jun 24, 2026 $0.19. Use the arrow keys to read each point.$0$12017202020232026YTD

ECOW vs FNDE Risk

Fall from peak · 5 years

  • ECOW
  • FNDE
Oct 29, 2021 to Oct 30, 2026. Worst fall: ECOW −33.3% · Sep 2022. Use the arrow keys to read each point.−30%−20%−10%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
ECOW 12.5%FNDE 11.0%, better
Return per unit of riskSharpe ratio, 3 years
ECOW 1.07FNDE 1.49, better
Worst fallMax drawdown, 5 years
ECOW −33.3%FNDE −29.4%, better
Market sensitivityBeta, 5 years
ECOW 0.80FNDE 0.80Same figure. Both funds show the same value, so neither comes out ahead.

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