Pacer US Small Cap Cash Cows 100 ETF (CALF) Performance
CALF total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +32.0% since Dec 31, 2025
- 1 year
- +34.2% total return
- 5 years
- +7.5% a year
- Since first price
- +11.0% a year since 2017
CALF trailing returns vs SPY, QQQ, AGG
| Period | CALF total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +7.4% | +7.4% | −1.0% | −5.0% | +0.9% |
| 3 months | +13.2% | +12.8% | +3.2% | +1.9% | −0.4% |
| 6 months | +23.5% | +23.0% | +7.8% | +8.4% | −1.5% |
| YTD | +32.0% | +31.2% | +12.3% | +15.1% | −1.0% |
| 1 year | +34.2% | +32.4% | +14.4% | +15.9% | −1.1% |
| 3 years | +52.5%+15.1%/yr | +47.3% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +43.5%+7.5%/yr | +32.9% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionJun 19, 2017 | +164.7%+11.0%/yr | +134.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: CALF vs SPY
From Jun 19, 2017: CALF grew to $26,466, SPY to $35,829.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
CALF returns by calendar year
5 of 8 full years positive. Best 2021 (+40.7%), worst 2022 (−15.2%). 2026 is year to date.
CALF annual returns table
| Year | CALF | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +32.0% | −7.9% | +12.3% | +15.1% | −1.0% |
| 2025 | +2.3% | −29.9% | +17.7% | +20.8% | +7.2% |
| 2024 | −7.4% | −13.9% | +24.9% | +25.6% | +1.3% |
| 2023 | +35.4% | −13.1% | +26.2% | +54.9% | +5.7% |
| 2022 | −15.2% | −26.6% | −18.2% | −32.6% | −13.0% |
| 2021 | +40.7% | −12.8% | +28.7% | +27.4% | −1.8% |
| 2020 | +16.6% | −44.1% | +18.3% | +48.6% | +7.5% |
| 2019 | +18.2% | −17.8% | +31.2% | +39.0% | +8.5% |
| 2018 | −10.1% | −27.9% | −4.6% | −0.1% | +0.1% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
CALF largest drawdowns
Now 0.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Aug 22, 2018 | −47.6% | Mar 23, 2020 | Nov 23, 2020 | 1.6 years | 2.3 years |
| Mar 28, 2024 | −34.2% | Apr 8, 2025 | Apr 20, 2026 | 1.0 years | 2.1 years |
| Nov 16, 2021 | −30.2% | Sep 26, 2022 | Dec 11, 2023 | 10 months | 2.1 years |
| Jul 20, 2017 | −12.4% | Aug 21, 2017 | Oct 3, 2017 | 32 days | 2 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
CALF risk statistics
| Statistic | 3 years | 5 years | Since 2017 |
|---|---|---|---|
| Annualized return | +9.8% | +6.3% | +9.7% |
| Volatility (annualized) | 19.8% | 21.7% | 23.5% |
| Sharpe ratio | 0.35 | 0.22 | 0.41 |
| Sortino ratio | 0.54 | 0.35 | 0.63 |
| Best month | +11.6% | +15.4% | +18.9% |
| Worst month | −10.5% | −11.8% | −22.1% |
| Best 12 months | +36.7% | +36.7% | +135.9% |
| Worst 12 months | −22.9% | −22.9% | −29.4% |
| Positive months | 64% | 55% | 59% |
| Beta vs S&P 500 | 1.01 | 1.03 | — |
| Correlation with S&P 500 | 0.63 | 0.74 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
CALF rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 101 | −29.4% | +4.4% | +135.9% | 60% |
| 3-year (a year) | 77 | −1.6% | +11.6% | +31.5% | 95% |
| 5-year (a year) | 53 | +3.4% | +10.3% | +18.1% | 100% |
Every holding period starting at a month-end since 2017. Returns for 3 years and longer are annualized.
CALF performance overview
Pacer US Small Cap Cash Cows 100 ETF (CALF) returned +34.2% over the past year and +7.5% a year over five years, with distributions reinvested. Since its first recorded price in 2017 it has returned +11.0% a year, turning $10,000 into about $26,466. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −47.6%, from Aug 22, 2018 to Mar 23, 2020, and it took 8 months to get back to the old high. CALF finished 5 of its 8 full calendar years with a gain; the best year was 2021 (+40.7%) and the worst 2022 (−15.2%). Volatility has been 23.5% a year.
Related: CALF chart, CALF holdings, CALF dividends, CALF valuation. See the CALF overview for the latest quote and fund facts.
CALF performance FAQ
What is the CALF return over the past year?
CALF returned +34.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 32.4%.
What is the average annual return of CALF?
CALF has returned +7.5% a year over 5 years, +11.0% a year since June 19, 2017 (total return, distributions reinvested).
How much would $10,000 invested in CALF be worth?
$10,000 invested in CALF at its first recorded close on June 19, 2017 would be worth about $26,466 on October 23, 2026 with distributions reinvested.
What was the worst year for CALF?
The worst calendar year was 2022, with a total return of −15.2%. The best was 2021 at +40.7%.
What is the biggest drawdown of CALF?
The largest peak-to-trough decline was −47.6% between August 22, 2018 and March 23, 2020. It recovered to the old high on November 23, 2020, 8 months after the bottom.
How volatile is CALF?
Over the past 3 years CALF had an annualized volatility of 19.8% and a Sharpe ratio of 0.35 (excess return over 1–3 month T-bills per unit of risk).