COWZ vs. USFR

Last updated Jun 4, 2026

COWZ (Pacer US Cash Cows 100 ETF) and USFR (WisdomTree Floating Rate Treasury Fund) are both exchange-traded funds - COWZ is a Mid Cap Value Equities fund tracking the Pacer US Cash Cows 100 Index, while USFR is a Government Bonds fund tracking the Bloomberg U.S. Treasury Floating Rate Bond Index. Both are passively managed. Over the past 5 years, COWZ returned 10.57%/yr vs 3.66%/yr for USFR. At a 0.01 correlation, their price movements are largely independent. COWZ charges 0.49%/yr vs 0.15%/yr for USFR.

Performance

COWZ vs. USFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer US Cash Cows 100 ETF (COWZ) and WisdomTree Floating Rate Treasury Fund (USFR). 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 higher than USFR's 1.60% return.

COWZ

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

USFR

• 1D: 0.02%
• 1M: 0.29%
• YTD: 1.60%
• 6M: 1.98%
• 1Y: 4.03%
• 3Y*: 4.76%
• 5Y*: 3.66%
• 10Y*: 2.47%

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

COWZ vs. USFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COWZ Pacer US Cash Cows 100 ETF	8.18%	8.98%	10.64%	14.73%	0.19%	42.57%	11.65%	23.41%	-10.05%	20.22%
USFR WisdomTree Floating Rate Treasury Fund	1.60%	4.23%	5.47%	5.18%	1.98%	-0.03%	0.56%	2.02%	2.01%	1.03%

Correlation

The correlation between COWZ and USFR is -0.04, 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	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	-0.00
Correlation (5Y) Calculated over the trailing 5-year period	-0.01
Correlation (All Time) Calculated using the full available price history since Dec 20, 2016	0.01

Return for Risk

COWZ vs. USFR — 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

USFR

USFR Risk / Return Rank: 100
USFR Sharpe Ratio Rank: 100
USFR Sortino Ratio Rank: 100
USFR Omega Ratio Rank: 100
USFR Calmar Ratio Rank: 100
USFR Martin Ratio Rank: 100

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. USFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer US Cash Cows 100 ETF (COWZ) and WisdomTree Floating Rate Treasury Fund (USFR). 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	USFR	Difference
Sharpe ratio Return per unit of total volatility	2.02	15.11	-13.10
Sortino ratio Return per unit of downside risk	2.98	50.64	-47.66
Omega ratio Gain probability vs. loss probability	1.36	13.43	-12.07
Calmar ratio Return relative to maximum drawdown	4.46	203.42	-198.95
Martin ratio Return relative to average drawdown	12.19	787.84	-775.65
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. USFR - Sharpe Ratio Comparison

The current COWZ Sharpe Ratio is 2.02, which is lower than the USFR Sharpe Ratio of 15.11. The chart below compares the historical Sharpe Ratios of COWZ and USFR, 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	USFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.02	15.11	-13.10
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	9.26	-8.66
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	3.07	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.65	1.60	-0.96

Drawdowns

COWZ vs. USFR - Drawdown Comparison

The maximum COWZ drawdown since its inception was -38.63%, which is greater than USFR's maximum drawdown of -1.36%. Use the drawdown chart below to compare losses from any high point for COWZ and USFR.

Drawdown Indicators

	COWZ	USFR	Difference
Max Drawdown Largest peak-to-trough decline	-38.63%	-1.36%	-37.27%
Max Drawdown (1Y) Largest decline over 1 year	-5.00%	-0.02%	-4.98%
Max Drawdown (3Y) Largest decline over 3 years	-22.00%	-0.06%	-21.94%
Max Drawdown (5Y) Largest decline over 5 years	-22.00%	-0.18%	-21.82%
Max Drawdown (10Y) Largest decline over 10 years	—	-0.80%	—
Current Drawdown Current decline from peak	-0.91%	0.00%	-0.91%
Average Drawdown Average peak-to-trough decline	-4.81%	-0.16%	-4.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.83%	0.01%	+1.82%

Volatility

COWZ vs. USFR - Volatility Comparison

Pacer US Cash Cows 100 ETF (COWZ) has a higher volatility of 2.56% compared to WisdomTree Floating Rate Treasury Fund (USFR) at 0.06%. This indicates that COWZ's price experiences larger fluctuations and is considered to be riskier than USFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COWZ	USFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	0.06%	+2.50%
Volatility (6M) Calculated over the trailing 6-month period	7.12%	0.18%	+6.94%
Volatility (1Y) Calculated over the trailing 1-year period	11.13%	0.27%	+10.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.63%	0.40%	+17.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.93%	0.81%	+19.12%

COWZ vs. USFR - Expense Ratio Comparison

COWZ has a 0.49% expense ratio, which is higher than USFR's 0.15% expense ratio.

Dividends

COWZ vs. USFR - Dividend Comparison

COWZ's dividend yield for the trailing twelve months is around 1.99%, less than USFR's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
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%
USFR WisdomTree Floating Rate Treasury Fund	3.91%	4.15%	5.17%	5.12%	1.78%	0.01%	0.40%	2.08%	1.67%	1.03%	0.29%

Frequently Asked Questions

Can I hold both COWZ and USFR in my portfolio?

COWZ and USFR have a correlation of -0.04, 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 USFR?

COWZ has higher volatility (2.56%) compared to USFR (0.06%). In terms of maximum drawdown, COWZ dropped -38.63% vs USFR's -1.36%.

Which ETF is better, COWZ or USFR?

On 5-year performance, COWZ leads with 10.57% vs 3.66% for USFR. On fees, USFR is cheaper at 0.15% per year. On volatility, USFR has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COWZ or USFR?

Over the 5-year period, COWZ has performed better with a 10.57% return vs 3.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COWZ or USFR?

USFR is cheaper with a 0.15% expense ratio, compared with 0.49% for COWZ.

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

USFR has the higher dividend yield at 3.91%, compared with 1.99% for COWZ.

What is the main difference between COWZ and USFR?

COWZ is categorized as Mid Cap Value Equities, while USFR is Government Bonds. COWZ tracks Pacer US Cash Cows 100 Index, while USFR tracks Bloomberg U.S. Treasury Floating Rate Bond Index. They also come from different issuers: Pacer and WisdomTree. Their fees differ too: 0.49% for COWZ and 0.15% for USFR.

Which has better risk-adjusted returns?

USFR currently has the higher Sharpe Ratio (15.11 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.