COWG vs. OUSA

Last updated Aug 4, 2026

COWG (Pacer US Large Cap Cash Cows Growth Leaders ETF) and OUSA (OShares U.S. Quality Dividend ETF) are both exchange-traded funds - COWG is a Large Cap Growth Equities fund tracking the Pacer US Large Cap Cash Cows Growth Leaders Index, while OUSA is a Quality Factor fund tracking the O'Shares US Quality Dividend Index. Both are passively managed. Over the past 3 years, COWG returned 21.15%/yr vs 13.56%/yr for OUSA. Their 0.61 correlation means they have sometimes moved together and sometimes differently. COWG charges 0.49%/yr vs 0.48%/yr for OUSA.

Performance

COWG vs. OUSA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG) and OShares U.S. Quality Dividend ETF (OUSA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COWG achieves a 8.98% return, which is significantly higher than OUSA's 7.09% return.

COWG

• 1D: 1.13%
• 1M: -1.45%
• 6M: 8.27%
• YTD: 8.98%
• 1Y: 11.63%
• 3Y*: 21.15%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 20.19%

OUSA

• 1D: 0.53%
• 1M: 2.40%
• 6M: 3.84%
• YTD: 7.09%
• 1Y: 16.21%
• 3Y*: 13.56%
• 5Y*: 8.96%
• 10Y*: 10.40%
• ALL TIME*: 10.73%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	$10.53M	$9.94M	$10.56M
OUSA OShares U.S. Quality Dividend ETF	$872.37K	$1.31M	$1.44M

COWG vs. OUSA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	8.98%	10.24%	34.99%	20.69%	-0.68%
OUSA OShares U.S. Quality Dividend ETF	7.09%	10.23%	17.09%	13.44%	-0.80%

Correlation

The correlation between COWG and OUSA is 0.32, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.32
Correlation (3Y) Balances recent behavior with more history.	0.57
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	0.61

Over the past year, the correlation between COWG and OUSA has dropped to 0.32 - well below their long-term average of 0.61, suggesting their price drivers have been diverging.

COWG vs. OUSA - Sectors Allocation Comparison

Sectors	COWG	OUSA
Technology	59.8%	23.7%
Healthcare	13.1%	15.1%
Communication Services	8.6%	10.3%
Energy	6.7%	-
Basic Materials	3.4%	-
Industrials	3.1%	11.9%
Consumer Defensive	2.7%	7.4%
Consumer Cyclical	2.7%	13.1%
Utilities	1.4%	-
Financial Services	-	18.6%
Real Estate	-	-

Return for Risk

COWG vs. OUSA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

COWG

COWG Risk / Return Rank: 29
COWG Sharpe Ratio Rank: 27
COWG Sortino Ratio Rank: 27
COWG Omega Ratio Rank: 26
COWG Calmar Ratio Rank: 32
COWG Martin Ratio Rank: 31

OUSA

OUSA Risk / Return Rank: 62
OUSA Sharpe Ratio Rank: 67
OUSA Sortino Ratio Rank: 72
OUSA Omega Ratio Rank: 65
OUSA Calmar Ratio Rank: 53
OUSA Martin Ratio Rank: 55

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

COWG vs. OUSA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG) and OShares U.S. Quality Dividend ETF (OUSA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	COWG	OUSA	Difference
Sharpe ratio: Return per unit of total volatility	0.65	1.59	-0.94
Sortino ratio: Return per unit of downside risk	1.00	2.41	-1.41
Omega ratio: Gain probability vs. loss probability	1.12	1.28	-0.16
Calmar ratio: Return relative to maximum drawdown	1.08	1.95	-0.86
Martin ratio: Return relative to average drawdown	2.90	6.80	-3.90

COWG vs. OUSA - Sharpe Ratio Comparison

The current COWG Sharpe Ratio is 0.65, which is lower than the OUSA Sharpe Ratio of 1.59. The chart below compares the historical Sharpe Ratios of COWG and OUSA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

COWG vs. OUSA - Drawdown Comparison

The maximum COWG drawdown since its inception was -23.60%, smaller than the maximum OUSA drawdown of -33.12%. Use the drawdown chart below to compare losses from any high point for COWG and OUSA.

Drawdown Indicators

	COWG	OUSA	Difference
Max Drawdown Largest peak-to-trough decline	-23.60%	-33.12%	+9.52%
Max Drawdown (1Y) Largest decline over 1 year	-10.79%	-8.36%	-2.43%
Max Drawdown (3Y) Largest decline over 3 years	-23.60%	-13.14%	-10.46%
Max Drawdown (5Y) Largest decline over 5 years	—	-19.54%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.12%	—
Current Drawdown Current decline from peak	-4.53%	-0.23%	-4.30%
Average Drawdown Average peak-to-trough decline	-3.30%	-3.50%	+0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.02%	2.39%	+1.63%

Volatility

COWG vs. OUSA - Volatility Comparison

Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG) has a higher volatility of 5.34% compared to OShares U.S. Quality Dividend ETF (OUSA) at 3.65%. This indicates that COWG's price experiences larger fluctuations and is considered to be riskier than OUSA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COWG	OUSA	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.34%	3.65%	+1.69%
Volatility (6M) Calculated over the trailing 6-month period	14.20%	8.12%	+6.08%
Volatility (1Y) Calculated over the trailing 1-year period	18.09%	10.25%	+7.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.33%	13.38%	+5.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.33%	15.19%	+4.14%

COWG vs. OUSA - Expense Ratio Comparison

COWG has a 0.49% expense ratio, which is higher than OUSA's 0.48% expense ratio.

Dividends

COWG vs. OUSA - Dividend Comparison

COWG's dividend yield for the trailing twelve months is around 0.37%, less than OUSA's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	0.37%	0.32%	0.40%	0.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
OUSA OShares U.S. Quality Dividend ETF	1.35%	1.39%	1.50%	1.81%	1.92%	1.56%	2.03%	2.31%	3.06%	2.15%	2.32%	1.17%

Frequently Asked Questions

Can I hold both COWG and OUSA in my portfolio?

COWG and OUSA have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COWG or OUSA?

COWG has higher volatility (5.34%) compared to OUSA (3.65%). In terms of maximum drawdown, COWG dropped -23.60% vs OUSA's -33.12%.

Which ETF is better, COWG or OUSA?

On 3-year performance, COWG leads with 21.15% vs 13.56% for OUSA. On fees, OUSA is cheaper at 0.48% per year. On volatility, OUSA has been the lower-risk option at 3.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COWG or OUSA?

Over the 3-year period, COWG has performed better with a 21.15% return vs 13.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COWG or OUSA?

OUSA is cheaper with a 0.48% expense ratio, compared with 0.49% for COWG.

Which ETF pays a higher dividend yield, COWG or OUSA?

OUSA has the higher dividend yield at 1.35%, compared with 0.37% for COWG.

What is the main difference between COWG and OUSA?

COWG is categorized as Large Cap Growth Equities, while OUSA is Quality Factor. COWG tracks Pacer US Large Cap Cash Cows Growth Leaders Index, while OUSA tracks O'Shares US Quality Dividend Index. They also come from different issuers: Pacer and O'Shares Investments. Their fees differ too: 0.49% for COWG and 0.48% for OUSA.

Which has better risk-adjusted returns?

OUSA currently has the higher Sharpe Ratio (1.59 vs 0.65), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.