COWZ vs. DBE
COWZ (Pacer US Cash Cows 100 ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - COWZ is a Mid Cap Value Equities fund tracking the Pacer US Cash Cows 100 Index, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. Both are passively managed. Over the past 5 years, COWZ returned 11.04%/yr vs 17.82%/yr for DBE. Their 0.30 correlation means their historical movements had little consistent relationship. COWZ charges 0.49%/yr vs 0.78%/yr for DBE.
Performance
COWZ vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, COWZ achieves a 12.39% return, which is significantly lower than DBE's 71.26% return.
COWZ
- 1D
- 0.58%
- 1M
- 5.50%
- 6M
- 8.21%
- YTD
- 12.39%
- 1Y
- 24.54%
- 3Y*
- 11.99%
- 5Y*
- 11.04%
- 10Y*
- —
- ALL TIME*
- 13.03%
DBE
- 1D
- -4.26%
- 1M
- 15.98%
- 6M
- 57.84%
- YTD
- 71.26%
- 1Y
- 61.44%
- 3Y*
- 15.22%
- 5Y*
- 17.82%
- 10Y*
- 12.24%
- ALL TIME*
- 2.29%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $63.88M | $58.45M | $60.21M | |
| $1.27M | $1.08M | $1.67M |
COWZ vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COWZ Pacer US Cash Cows 100 ETF | 12.39% | 8.98% | 10.64% | 14.73% | 0.19% | 42.57% | 11.65% | 23.41% | -10.05% | 20.22% |
DBE Invesco DB Energy Fund | 71.26% | -2.17% | 2.96% | -12.14% | 33.77% | 57.56% | -25.91% | 19.72% | -12.95% | 5.21% |
Correlation
The correlation between COWZ and DBE is -0.11, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.11 |
Correlation (3Y) Balances recent behavior with more history. | 0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.27 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2016 | 0.30 |
The correlation between COWZ and DBE shifts across timeframes, from -0.11 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
COWZ vs. DBE — Risk / Return Rank
COWZ
DBE
COWZ vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pacer US Cash Cows 100 ETF (COWZ) and Invesco DB Energy Fund (DBE). 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.
| COWZ | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.44 | ||
| Sortino ratioReturn per unit of downside risk | +0.85 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.28 | +0.09 |
| Calmar ratioReturn relative to maximum drawdown | 4.14 | 2.50 | +1.64 |
| Martin ratioReturn relative to average drawdown | 12.12 | 7.82 | +4.30 |
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Drawdowns
COWZ vs. DBE - Drawdown Comparison
The maximum COWZ drawdown since its inception was -38.63%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for COWZ and DBE.
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Drawdown Indicators
| COWZ | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.63% | -86.69% | +48.06% |
Max Drawdown (1Y)Largest decline over 1 year | -5.95% | -24.72% | +18.77% |
Max Drawdown (3Y)Largest decline over 3 years | -22.00% | -24.72% | +2.72% |
Max Drawdown (5Y)Largest decline over 5 years | -22.00% | -38.74% | +16.74% |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -0.83% | -34.98% | +34.15% |
Average DrawdownAverage peak-to-trough decline | -4.76% | -57.13% | +52.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.03% | 7.90% | -5.87% |
Volatility
COWZ vs. DBE - Volatility Comparison
The current volatility for Pacer US Cash Cows 100 ETF (COWZ) is 4.86%, while Invesco DB Energy Fund (DBE) has a volatility of 15.07%. This indicates that COWZ experiences smaller price fluctuations and is considered to be less risky than DBE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COWZ | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.86% | 15.07% | -10.21% |
Volatility (6M)Calculated over the trailing 6-month period | 8.75% | 34.26% | -25.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.84% | 37.66% | -25.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.69% | 30.15% | -12.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.86% | 28.60% | -8.74% |
COWZ vs. DBE - Expense Ratio Comparison
COWZ has a 0.49% expense ratio, which is lower than DBE's 0.78% expense ratio.
Dividends
COWZ vs. DBE - Dividend Comparison
COWZ's dividend yield for the trailing twelve months is around 1.84%, less than DBE's 2.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
COWZ Pacer US Cash Cows 100 ETF | 1.84% | 2.19% | 1.82% | 1.92% | 1.96% | 1.48% | 2.54% | 1.96% | 1.67% | 1.95% | 0.13% |
DBE Invesco DB Energy Fund | 2.26% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% | 0.00% | 0.00% |
Frequently Asked Questions
COWZ and DBE have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (15.07%) compared to COWZ (4.86%). In terms of maximum drawdown, COWZ dropped -38.63% vs DBE's -86.69%.
On 5-year performance, DBE leads with 17.82% vs 11.04% for COWZ. On fees, COWZ is cheaper at 0.49% per year. On volatility, COWZ has been the lower-risk option at 4.86%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, DBE has performed better with a 17.82% return vs 11.04%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COWZ is cheaper with a 0.49% expense ratio, compared with 0.78% for DBE.
DBE has the higher dividend yield at 2.26%, compared with 1.84% for COWZ.
COWZ is categorized as Mid Cap Value Equities, while DBE is Oil & Gas. COWZ tracks Pacer US Cash Cows 100 Index, while DBE tracks DBIQ Optimum Yield Energy Index. They also come from different issuers: Pacer and Invesco. Their fees differ too: 0.49% for COWZ and 0.78% for DBE.
COWZ currently has the higher Sharpe Ratio (2.09 vs 1.64), 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.
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