DAL vs. GCOW

Last updated Jul 17, 2026

DAL (Delta Air Lines, Inc.) is a stock, while GCOW (Pacer Global Cash Cows Dividend ETF) is Large Cap Value Equities fund tracking the Pacer Global Cash Cows Dividends Index. Over the past 10 years, DAL returned 9.37%/yr vs 9.51%/yr for GCOW. At a 0.42 correlation, their price movements are largely independent.

Performance

DAL vs. GCOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delta Air Lines, Inc. (DAL) and Pacer Global Cash Cows Dividend ETF (GCOW). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DAL achieves a 25.91% return, which is significantly higher than GCOW's 10.82% return. Both investments have delivered pretty close results over the past 10 years, with DAL having a 9.37% annualized return and GCOW not far ahead at 9.51%.

DAL

• 1D: 0.86%
• 1M: 4.54%
• 6M: 22.48%
• YTD: 25.91%
• 1Y: 58.30%
• 3Y*: 24.18%
• 5Y*: 17.53%
• 10Y*: 9.37%

GCOW

• 1D: 0.92%
• 1M: -0.33%
• 6M: 7.66%
• YTD: 10.82%
• 1Y: 22.60%
• 3Y*: 15.50%
• 5Y*: 12.66%
• 10Y*: 9.51%

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

DAL vs. GCOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DAL Delta Air Lines, Inc.	25.91%	16.09%	52.00%	23.03%	-15.92%	-2.81%	-30.77%	20.38%	-8.66%	16.23%
GCOW Pacer Global Cash Cows Dividend ETF	10.82%	27.34%	3.52%	13.95%	5.49%	14.58%	-4.33%	17.81%	-7.99%	20.71%

Correlation

The correlation between DAL and GCOW is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.37
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Feb 23, 2016	0.42

Over the past year, the correlation between DAL and GCOW has dropped to 0.12 - well below their long-term average of 0.42, suggesting their price drivers have been diverging.

Return for Risk

DAL vs. GCOW — Risk / Return Rank

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

DAL

DAL Risk / Return Rank: 83
DAL Sharpe Ratio Rank: 84
DAL Sortino Ratio Rank: 84
DAL Omega Ratio Rank: 79
DAL Calmar Ratio Rank: 83
DAL Martin Ratio Rank: 87

GCOW

GCOW Risk / Return Rank: 75
GCOW Sharpe Ratio Rank: 81
GCOW Sortino Ratio Rank: 83
GCOW Omega Ratio Rank: 78
GCOW Calmar Ratio Rank: 71
GCOW Martin Ratio Rank: 64

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.

DAL vs. GCOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delta Air Lines, Inc. (DAL) and Pacer Global Cash Cows Dividend ETF (GCOW). 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.

	DAL	GCOW	Difference
Sharpe ratio: Return per unit of total volatility	1.48	2.05	-0.57
Sortino ratio: Return per unit of downside risk	2.28	2.99	-0.71
Omega ratio: Gain probability vs. loss probability	1.26	1.36	-0.11
Calmar ratio: Return relative to maximum drawdown	2.56	2.90	-0.34
Martin ratio: Return relative to average drawdown	8.22	8.96	-0.74

DAL vs. GCOW - Sharpe Ratio Comparison

The current DAL Sharpe Ratio is 1.48, which is comparable to the GCOW Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of DAL and GCOW, 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

DAL vs. GCOW - Drawdown Comparison

The maximum DAL drawdown since its inception was -81.93%, which is greater than GCOW's maximum drawdown of -37.64%. Use the drawdown chart below to compare losses from any high point for DAL and GCOW.

Drawdown Indicators

	DAL	GCOW	Difference
Max Drawdown Largest peak-to-trough decline	-81.93%	-37.64%	-44.29%
Max Drawdown (1Y) Largest decline over 1 year	-22.90%	-7.83%	-15.07%
Max Drawdown (3Y) Largest decline over 3 years	-47.92%	-12.35%	-35.57%
Max Drawdown (5Y) Largest decline over 5 years	-47.92%	-21.48%	-26.44%
Max Drawdown (10Y) Largest decline over 10 years	-69.18%	-37.64%	-31.54%
Current Drawdown Current decline from peak	-7.20%	-3.91%	-3.29%
Average Drawdown Average peak-to-trough decline	-29.00%	-5.83%	-23.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.11%	2.53%	+4.58%

Volatility

DAL vs. GCOW - Volatility Comparison

Delta Air Lines, Inc. (DAL) has a higher volatility of 8.12% compared to Pacer Global Cash Cows Dividend ETF (GCOW) at 3.90%. This indicates that DAL's price experiences larger fluctuations and is considered to be riskier than GCOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAL	GCOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.12%	3.90%	+4.22%
Volatility (6M) Calculated over the trailing 6-month period	30.23%	8.62%	+21.61%
Volatility (1Y) Calculated over the trailing 1-year period	39.58%	11.08%	+28.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.98%	13.53%	+27.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.05%	15.99%	+26.06%

Dividends

DAL vs. GCOW - Dividend Comparison

DAL's dividend yield for the trailing twelve months is around 1.11%, less than GCOW's 4.75% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DAL Delta Air Lines, Inc.	1.11%	0.97%	0.83%	0.50%	0.00%	0.00%	1.00%	2.57%	2.63%	1.81%	1.37%	0.89%
GCOW Pacer Global Cash Cows Dividend ETF	4.75%	4.06%	5.14%	5.28%	4.39%	4.23%	4.12%	4.40%	3.94%	2.79%	1.95%	0.00%

Frequently Asked Questions

Can I hold both DAL and GCOW in my portfolio?

DAL and GCOW have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DAL or GCOW?

DAL has higher volatility (8.12%) compared to GCOW (3.90%). In terms of maximum drawdown, DAL dropped -81.93% vs GCOW's -37.64%.

Which has better risk-adjusted returns?

GCOW currently has the higher Sharpe Ratio (2.05 vs 1.48), 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.