COWZ vs. USO
COWZ (Pacer US Cash Cows 100 ETF) and USO (United States Oil Fund LP) are both exchange-traded funds - COWZ is a Mid Cap Value Equities fund tracking the Pacer US Cash Cows 100 Index, while USO is a Oil & Gas fund tracking the Front Month Light Sweet Crude Oil. Both are passively managed. Over the past 5 years, COWZ returned 10.57%/yr vs 24.41%/yr for USO. At a 0.30 correlation, their price movements are largely independent. COWZ charges 0.49%/yr vs 0.86%/yr for USO.
Performance
COWZ vs. USO - Performance Comparison
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Returns By Period
In the year-to-date period, COWZ achieves a 8.18% return, which is significantly lower than USO's 103.67% return.
COWZ
- 1D
- -0.34%
- 1M
- 2.61%
- YTD
- 8.18%
- 6M
- 9.03%
- 1Y
- 22.23%
- 3Y*
- 14.44%
- 5Y*
- 10.57%
- 10Y*
- —
USO
- 1D
- 2.62%
- 1M
- -4.57%
- YTD
- 103.67%
- 6M
- 99.35%
- 1Y
- 101.55%
- 3Y*
- 29.98%
- 5Y*
- 24.41%
- 10Y*
- 4.07%
COWZ vs. USO - 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% |
USO United States Oil Fund LP | 103.67% | -8.46% | 13.35% | -4.94% | 28.97% | 64.68% | -67.79% | 32.61% | -19.57% | 2.47% |
Correlation
The correlation between COWZ and USO is -0.05, 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 | -0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Dec 20, 2016 | 0.30 |
The correlation between COWZ and USO shifts across timeframes, from -0.05 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
COWZ vs. USO — Risk / Return Rank
COWZ
USO
COWZ vs. USO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pacer US Cash Cows 100 ETF (COWZ) and United States Oil Fund LP (USO). 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 | USO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.29 | ||
| Sortino ratioReturn per unit of downside risk | +0.09 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.38 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.46 | 5.01 | -0.54 |
| Martin ratioReturn relative to average drawdown | 12.19 | 9.42 | +2.77 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| COWZ | USO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.02 | 2.31 | -0.29 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.60 | 0.68 | -0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.10 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.65 | -0.18 | +0.82 |
Drawdowns
COWZ vs. USO - Drawdown Comparison
The maximum COWZ drawdown since its inception was -38.63%, smaller than the maximum USO drawdown of -98.19%. Use the drawdown chart below to compare losses from any high point for COWZ and USO.
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Drawdown Indicators
| COWZ | USO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.63% | -98.19% | +59.56% |
Max Drawdown (1Y)Largest decline over 1 year | -5.00% | -20.39% | +15.39% |
Max Drawdown (3Y)Largest decline over 3 years | -22.00% | -26.05% | +4.05% |
Max Drawdown (5Y)Largest decline over 5 years | -22.00% | -36.23% | +14.23% |
Max Drawdown (10Y)Largest decline over 10 years | — | -86.75% | — |
Current DrawdownCurrent decline from peak | -0.91% | -85.01% | +84.10% |
Average DrawdownAverage peak-to-trough decline | -4.81% | -75.30% | +70.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.83% | 10.82% | -8.99% |
Volatility
COWZ vs. USO - Volatility Comparison
The current volatility for Pacer US Cash Cows 100 ETF (COWZ) is 2.56%, while United States Oil Fund LP (USO) has a volatility of 14.87%. This indicates that COWZ experiences smaller price fluctuations and is considered to be less risky than USO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COWZ | USO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.56% | 14.87% | -12.31% |
Volatility (6M)Calculated over the trailing 6-month period | 7.12% | 38.23% | -31.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.13% | 44.20% | -33.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.63% | 36.06% | -18.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.93% | 39.00% | -19.07% |
COWZ vs. USO - Expense Ratio Comparison
COWZ has a 0.49% expense ratio, which is lower than USO's 0.86% expense ratio.
Dividends
COWZ vs. USO - Dividend Comparison
COWZ's dividend yield for the trailing twelve months is around 1.99%, while USO has not paid dividends to shareholders.
| 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% |
USO United States Oil Fund LP | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
COWZ and USO have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USO has higher volatility (14.87%) compared to COWZ (2.56%). In terms of maximum drawdown, COWZ dropped -38.63% vs USO's -98.19%.
On 5-year performance, USO leads with 24.41% vs 10.57% 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.
Over the 5-year period, USO has performed better with a 24.41% return vs 10.57%. 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 0.86% for USO.
COWZ has the higher dividend yield at 1.99%, compared with 0.00% for USO.
COWZ is categorized as Mid Cap Value Equities, while USO is Oil & Gas. COWZ tracks Pacer US Cash Cows 100 Index, while USO tracks Front Month Light Sweet Crude Oil. They also come from different issuers: Pacer and USCF. Their fees differ too: 0.49% for COWZ and 0.86% for USO.
USO currently has the higher Sharpe Ratio (2.31 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.
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