Pacer Cash Cows Fund of Funds ETF (HERD) Performance
HERD total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +18.5% since Dec 31, 2025
- 1 year
- +23.2% total return
- 5 years
- +10.9% a year
- Since first price
- +13.0% a year since 2019
HERD trailing returns vs SPY, QQQ, AGG
| Period | HERD total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +2.7% | +2.7% | −1.0% | −5.0% | +0.9% |
| 3 months | +7.6% | +6.5% | +3.2% | +1.9% | −0.4% |
| 6 months | +9.6% | +8.5% | +7.8% | +8.4% | −1.5% |
| YTD | +18.5% | +17.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +23.2% | +18.7% | +14.4% | +15.9% | −1.1% |
| 3 years | +64.3%+18.0%/yr | +51.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +67.8%+10.9%/yr | +46.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionMay 7, 2019 | +149.3%+13.0%/yr | +106.4% | — | — | — |
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: HERD vs SPY
From May 7, 2019: HERD grew to $24,927, SPY to $29,448.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
HERD returns by calendar year
5 of 6 full years positive. Best 2021 (+28.6%), worst 2022 (−7.0%). 2026 is year to date.
HERD annual returns table
| Year | HERD | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +18.5% | −6.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +19.1% | −17.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +2.9% | −6.8% | +24.9% | +25.6% | +1.3% |
| 2023 | +20.7% | −9.3% | +26.2% | +54.9% | +5.7% |
| 2022 | −7.0% | −21.6% | −18.2% | −32.6% | −13.0% |
| 2021 | +28.6% | −6.9% | +28.7% | +27.4% | −1.8% |
| 2020 | +10.7% | −39.4% | +18.3% | +48.6% | +7.5% |
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.
HERD largest drawdowns
Now 2.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jan 23, 2020 | −39.4% | Mar 23, 2020 | Nov 19, 2020 | 2 months | 10 months |
| Feb 10, 2022 | −21.6% | Sep 26, 2022 | Jul 13, 2023 | 7 months | 1.4 years |
| Dec 2, 2024 | −18.9% | Apr 8, 2025 | Jul 1, 2025 | 4 months | 7 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
HERD risk statistics
| Statistic | 3 years | 5 years | Since 2019 |
|---|---|---|---|
| Annualized return | +15.2% | +10.2% | +13.6% |
| Volatility (annualized) | 13.1% | 16.2% | 18.0% |
| Sharpe ratio | 0.81 | 0.46 | 0.65 |
| Sortino ratio | 1.33 | 0.71 | 1.01 |
| Best month | +8.2% | +10.0% | +16.2% |
| Worst month | −5.8% | −11.8% | −15.5% |
| Best 12 months | +32.9% | +32.9% | +73.6% |
| Worst 12 months | −2.4% | −15.5% | −15.5% |
| Positive months | 67% | 60% | 64% |
| Beta vs S&P 500 | 0.65 | 0.80 | — |
| Correlation with S&P 500 | 0.62 | 0.77 | — |
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.
HERD rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 78 | −15.5% | +12.9% | +73.6% | 82% |
| 3-year (a year) | 54 | +4.6% | +12.8% | +23.9% | 100% |
| 5-year (a year) | 30 | +9.4% | +12.3% | +17.5% | 100% |
Every holding period starting at a month-end since 2019. Returns for 3 years and longer are annualized.
HERD performance overview
Pacer Cash Cows Fund of Funds ETF (HERD) returned +23.2% over the past year and +10.9% a year over five years, with distributions reinvested. Since its first recorded price in 2019 it has returned +13.0% a year, turning $10,000 into about $24,927. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −39.4%, from Jan 23, 2020 to Mar 23, 2020, and it took 8 months to get back to the old high. HERD finished 5 of its 6 full calendar years with a gain; the best year was 2021 (+28.6%) and the worst 2022 (−7.0%). Volatility has been 18.0% a year.
Related: HERD chart, HERD dividends. See the HERD overview for the latest quote and fund facts.
HERD performance FAQ
What is the HERD return over the past year?
HERD returned +23.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 18.7%.
What is the average annual return of HERD?
HERD has returned +10.9% a year over 5 years, +13.0% a year since May 7, 2019 (total return, distributions reinvested).
How much would $10,000 invested in HERD be worth?
$10,000 invested in HERD at its first recorded close on May 7, 2019 would be worth about $24,927 on October 23, 2026 with distributions reinvested.
What was the worst year for HERD?
The worst calendar year was 2022, with a total return of −7.0%. The best was 2021 at +28.6%.
What is the biggest drawdown of HERD?
The largest peak-to-trough decline was −39.4% between January 23, 2020 and March 23, 2020. It recovered to the old high on November 19, 2020, 8 months after the bottom.
How volatile is HERD?
Over the past 3 years HERD had an annualized volatility of 13.1% and a Sharpe ratio of 0.81 (excess return over 1–3 month T-bills per unit of risk).