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• The magnetism and magnetocaloric effect (MCE) were investigated in Er 4 CoCd compound. • A large magnetocaloric effect in Er 4 CoCd compound was observed. • The origin of MCE and its potential application in Er 4 CoCd were discussed. The Er-based compound Er 4 CoCd was synthesized successfully and its structural, magnetic together with magnetocaloric properties were investigated in detail. The Er 4 CoCd crystallized in a Gd 4 RhIn-type structure with the space group of F 4 ¯ 3 m , which was confirmed by Rietveld refinement. A ferromagnetic transition was observed around its Curie temperature (T C) of 12.5 K accompanied by a large magnetocaloric effect (MCE). The performance of MCE for Er 4 CoCd was evaluated by the isothermal maximal magnetic entropy (- Δ S M max) , the temperature averaged entropy change (TEC) at 10 K temperature lift [ TEC (10 K)], and the relative cooling power (RCP). The values of - Δ S M max , TEC (10 K), and RCP of Er 4 CoCd are 20.4 J/kg K, 19.2 J/kg K, and 503 J/kg under the magnetic field change (Δ H) of 0–5 T, respectively. [ABSTRACT FROM AUTHOR]