COWZ vs. SCHD

Last updated Jun 23, 2026

COWZ (Pacer US Cash Cows 100 ETF) and SCHD (Schwab U.S. Dividend Equity ETF) are both exchange-traded funds - COWZ is a Mid Cap Value Equities fund tracking the Pacer US Cash Cows 100 Index, while SCHD is a Dividend fund tracking the Dow Jones U.S. Dividend 100 Index. Both are passively managed. Over the past 5 years, COWZ returned 9.90%/yr vs 8.77%/yr for SCHD. Their correlation of 0.85 suggests significant overlap in exposure. COWZ charges 0.49%/yr vs 0.06%/yr for SCHD.

Performance

COWZ vs. SCHD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer US Cash Cows 100 ETF (COWZ) and Schwab U.S. Dividend Equity ETF (SCHD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COWZ achieves a 2.67% return, which is significantly lower than SCHD's 17.24% return.

COWZ

• 1D: -0.52%
• 1M: -4.28%
• YTD: 2.67%
• 6M: 1.89%
• 1Y: 15.09%
• 3Y*: 12.16%
• 5Y*: 9.90%
• 10Y*: —

SCHD

• 1D: 0.09%
• 1M: -2.86%
• YTD: 17.24%
• 6M: 16.44%
• 1Y: 24.06%
• 3Y*: 14.45%
• 5Y*: 8.77%
• 10Y*: 12.68%

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

COWZ vs. SCHD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COWZ Pacer US Cash Cows 100 ETF	2.67%	8.98%	10.64%	14.73%	0.19%	42.57%	11.65%	23.41%	-10.05%	20.22%
SCHD Schwab U.S. Dividend Equity ETF	17.24%	4.34%	11.66%	4.54%	-3.26%	29.87%	15.03%	27.29%	-5.56%	20.85%

Correlation

The correlation between COWZ and SCHD is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Dec 19, 2016	0.85

The correlation between COWZ and SCHD has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.

COWZ vs. SCHD - Sectors Allocation Comparison

Sectors	COWZ	SCHD
Healthcare	21.8%	18.4%
Energy	16.9%	14.6%
Technology	16.0%	19.4%
Consumer Cyclical	11.7%	6.7%
Consumer Defensive	10.9%	18.5%
Communication Services	10.4%	6.0%
Industrials	8.4%	7.4%
Basic Materials	3.7%	1.2%
Financial Services	-	9.1%
Real Estate	-	-
Utilities	-	0.0%

Return for Risk

COWZ vs. SCHD — Risk / Return Rank

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

COWZ

COWZ Risk / Return Rank: 43
COWZ Sharpe Ratio Rank: 38
COWZ Sortino Ratio Rank: 39
COWZ Omega Ratio Rank: 36
COWZ Calmar Ratio Rank: 53
COWZ Martin Ratio Rank: 47

SCHD

SCHD Risk / Return Rank: 76
SCHD Sharpe Ratio Rank: 70
SCHD Sortino Ratio Rank: 79
SCHD Omega Ratio Rank: 68
SCHD Calmar Ratio Rank: 90
SCHD Martin Ratio Rank: 71

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. SCHD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer US Cash Cows 100 ETF (COWZ) and Schwab U.S. Dividend Equity ETF (SCHD). 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	SCHD	Difference
Sharpe ratio: Return per unit of total volatility	1.33	2.18	-0.85
Sortino ratio: Return per unit of downside risk	1.97	3.34	-1.36
Omega ratio: Gain probability vs. loss probability	1.24	1.39	-0.15
Calmar ratio: Return relative to maximum drawdown	2.54	5.24	-2.69
Martin ratio: Return relative to average drawdown	7.69	12.71	-5.02

COWZ vs. SCHD - Sharpe Ratio Comparison

The current COWZ Sharpe Ratio is 1.33, which is lower than the SCHD Sharpe Ratio of 2.18. The chart below compares the historical Sharpe Ratios of COWZ and SCHD, 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

COWZ vs. SCHD - Drawdown Comparison

The maximum COWZ drawdown since its inception was -38.63%, which is greater than SCHD's maximum drawdown of -33.37%. Use the drawdown chart below to compare losses from any high point for COWZ and SCHD.

Drawdown Indicators

	COWZ	SCHD	Difference
Max Drawdown Largest peak-to-trough decline	-38.63%	-33.37%	-5.26%
Max Drawdown (1Y) Largest decline over 1 year	-5.95%	-4.61%	-1.34%
Max Drawdown (3Y) Largest decline over 3 years	-22.00%	-16.13%	-5.87%
Max Drawdown (5Y) Largest decline over 5 years	-22.00%	-16.85%	-5.15%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.37%	—
Current Drawdown Current decline from peak	-5.95%	-2.86%	-3.09%
Average Drawdown Average peak-to-trough decline	-4.80%	-3.31%	-1.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	1.90%	+0.07%

Volatility

COWZ vs. SCHD - Volatility Comparison

Pacer US Cash Cows 100 ETF (COWZ) has a higher volatility of 3.91% compared to Schwab U.S. Dividend Equity ETF (SCHD) at 3.58%. This indicates that COWZ's price experiences larger fluctuations and is considered to be riskier than SCHD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COWZ	SCHD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.91%	3.58%	+0.33%
Volatility (6M) Calculated over the trailing 6-month period	7.52%	7.74%	-0.22%
Volatility (1Y) Calculated over the trailing 1-year period	11.39%	11.09%	+0.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.64%	14.36%	+3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.90%	16.73%	+3.17%

COWZ vs. SCHD - Expense Ratio Comparison

COWZ has a 0.49% expense ratio, which is higher than SCHD's 0.06% expense ratio.

Dividends

COWZ vs. SCHD - Dividend Comparison

COWZ's dividend yield for the trailing twelve months is around 2.01%, less than SCHD's 3.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COWZ Pacer US Cash Cows 100 ETF	2.01%	2.19%	1.82%	1.92%	1.96%	1.48%	2.54%	1.96%	1.67%	1.95%	0.13%	0.00%
SCHD Schwab U.S. Dividend Equity ETF	3.31%	3.82%	3.64%	3.49%	3.39%	2.78%	3.16%	2.98%	3.06%	2.63%	2.89%	2.97%

Frequently Asked Questions

Can I hold both COWZ and SCHD in my portfolio?

COWZ and SCHD have a correlation of 0.81, 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 SCHD?

COWZ has higher volatility (3.91%) compared to SCHD (3.58%). In terms of maximum drawdown, COWZ dropped -38.63% vs SCHD's -33.37%.

Which ETF is better, COWZ or SCHD?

On 5-year performance, COWZ leads with 9.90% vs 8.77% for SCHD. On fees, SCHD is cheaper at 0.06% per year. On volatility, SCHD has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COWZ or SCHD?

Over the 5-year period, COWZ has performed better with a 9.90% return vs 8.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COWZ or SCHD?

SCHD is cheaper with a 0.06% expense ratio, compared with 0.49% for COWZ.

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

SCHD has the higher dividend yield at 3.31%, compared with 2.01% for COWZ.

What is the main difference between COWZ and SCHD?

COWZ is categorized as Mid Cap Value Equities, while SCHD is Dividend. COWZ tracks Pacer US Cash Cows 100 Index, while SCHD tracks Dow Jones U.S. Dividend 100 Index. They also come from different issuers: Pacer and Charles Schwab. Their fees differ too: 0.49% for COWZ and 0.06% for SCHD.

Which has better risk-adjusted returns?

SCHD currently has the higher Sharpe Ratio (2.18 vs 1.33), 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.