COWZ vs. BWET

Last updated Jun 4, 2026

COWZ (Pacer US Cash Cows 100 ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - COWZ is a Mid Cap Value Equities fund tracking the Pacer US Cash Cows 100 Index, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, COWZ returned 14.44%/yr vs 129.64%/yr for BWET. At a correlation of -0.00, they often move in opposite directions. COWZ charges 0.49%/yr vs 3.50%/yr for BWET.

Performance

COWZ vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer US Cash Cows 100 ETF (COWZ) and Breakwave Tanker Shipping ETF (BWET). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COWZ achieves a 8.18% return, which is significantly lower than BWET's 875.88% return.

COWZ

• 1D: -0.34%
• 1M: 2.61%
• YTD: 8.18%
• 6M: 9.03%
• 1Y: 22.23%
• 3Y*: 14.44%
• 5Y*: 10.57%
• 10Y*: —

BWET

• 1D: 4.26%
• 1M: 9.15%
• YTD: 875.88%
• 6M: 735.56%
• 1Y: 1,800.91%
• 3Y*: 129.64%
• 5Y*: —
• 10Y*: —

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

COWZ vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
COWZ Pacer US Cash Cows 100 ETF	8.18%	8.98%	10.64%	16.95%
BWET Breakwave Tanker Shipping ETF	875.88%	96.22%	-39.21%	15.94%

Correlation

The correlation between COWZ and BWET is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (All Time) Calculated using the full available price history since May 4, 2023	-0.00

COWZ vs. BWET - Sectors Allocation Comparison

Sectors	COWZ	BWET
Healthcare	21.8%	-
Energy	16.9%	-
Technology	16.0%	-
Consumer Cyclical	11.7%	-
Consumer Defensive	10.9%	-
Communication Services	10.4%	-
Industrials	8.4%	-
Basic Materials	3.7%	-
Financial Services	-	8.6%
Real Estate	-	-
Utilities	-	-

Return for Risk

COWZ vs. BWET — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

COWZ

COWZ Risk / Return Rank: 65
COWZ Sharpe Ratio Rank: 59
COWZ Sortino Ratio Rank: 62
COWZ Omega Ratio Rank: 57
COWZ Calmar Ratio Rank: 83
COWZ Martin Ratio Rank: 65

BWET

BWET Risk / Return Rank: 99
BWET Sharpe Ratio Rank: 100
BWET Sortino Ratio Rank: 97
BWET Omega Ratio Rank: 97
BWET Calmar Ratio Rank: 100
BWET Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

COWZ vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer US Cash Cows 100 ETF (COWZ) and Breakwave Tanker Shipping ETF (BWET). 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.

	COWZ	BWET	Difference
Sharpe ratio: Return per unit of total volatility	2.02	18.57	-16.56
Sortino ratio: Return per unit of downside risk	2.98	6.55	-3.57
Omega ratio: Gain probability vs. loss probability	1.36	1.96	-0.60
Calmar ratio: Return relative to maximum drawdown	4.46	59.51	-55.04
Martin ratio: Return relative to average drawdown	12.19	158.07	-145.88
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COWZ vs. BWET - Sharpe Ratio Comparison

The current COWZ Sharpe Ratio is 2.02, which is lower than the BWET Sharpe Ratio of 18.57. The chart below compares the historical Sharpe Ratios of COWZ and BWET, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	COWZ	BWET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	18.57	-16.56
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	1.90	-1.25

Drawdowns

COWZ vs. BWET - Drawdown Comparison

The maximum COWZ drawdown since its inception was -38.63%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for COWZ and BWET.

Drawdown Indicators

	COWZ	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-38.63%	-56.90%	+18.27%
Max Drawdown (1Y) Largest decline over 1 year	-5.00%	-30.64%	+25.64%
Max Drawdown (3Y) Largest decline over 3 years	-22.00%	-56.90%	+34.90%
Max Drawdown (5Y) Largest decline over 5 years	-22.00%	—	—
Current Drawdown Current decline from peak	-0.91%	-11.29%	+10.38%
Average Drawdown Average peak-to-trough decline	-4.81%	-24.09%	+19.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	11.51%	-9.68%

Volatility

COWZ vs. BWET - Volatility Comparison

The current volatility for Pacer US Cash Cows 100 ETF (COWZ) is 2.56%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 33.96%. This indicates that COWZ experiences smaller price fluctuations and is considered to be less risky than BWET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COWZ	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	33.96%	-31.40%
Volatility (6M) Calculated over the trailing 6-month period	7.12%	88.49%	-81.37%
Volatility (1Y) Calculated over the trailing 1-year period	11.13%	98.35%	-87.22%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.63%	70.45%	-52.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.93%	70.45%	-50.52%

COWZ vs. BWET - Expense Ratio Comparison

COWZ has a 0.49% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

COWZ vs. BWET - Dividend Comparison

COWZ's dividend yield for the trailing twelve months is around 1.99%, while BWET has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
COWZ Pacer US Cash Cows 100 ETF	1.99%	2.19%	1.82%	1.92%	1.96%	1.48%	2.54%	1.96%	1.67%	1.95%	0.13%

Frequently Asked Questions

Can I hold both COWZ and BWET in my portfolio?

COWZ and BWET have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COWZ or BWET?

BWET has higher volatility (33.96%) compared to COWZ (2.56%). In terms of maximum drawdown, COWZ dropped -38.63% vs BWET's -56.90%.

Which ETF is better, COWZ or BWET?

On 3-year performance, BWET leads with 129.64% vs 14.44% for COWZ. On fees, COWZ is cheaper at 0.49% per year. On volatility, COWZ has been the lower-risk option at 2.56%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COWZ or BWET?

Over the 3-year period, BWET has performed better with a 129.64% return vs 14.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COWZ or BWET?

COWZ is cheaper with a 0.49% expense ratio, compared with 3.50% for BWET.

Which ETF pays a higher dividend yield, COWZ or BWET?

COWZ has the higher dividend yield at 1.99%, compared with 0.00% for BWET.

What is the main difference between COWZ and BWET?

COWZ is categorized as Mid Cap Value Equities, while BWET is Commodities. COWZ tracks Pacer US Cash Cows 100 Index, while BWET tracks Breakwave Wet Freight Futures Index. They also come from different issuers: Pacer and Amplify. Their fees differ too: 0.49% for COWZ and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (18.57 vs 2.02), 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.