DBEF vs. COWZ

Last updated Jul 22, 2026

DBEF (Xtrackers MSCI EAFE Hedged Equity ETF) and COWZ (Pacer US Cash Cows 100 ETF) are both exchange-traded funds - DBEF is a Foreign Large Cap Equities fund tracking the MSCI EAFE US Dollar Hedged Index, while COWZ is a Mid Cap Value Equities fund tracking the Pacer US Cash Cows 100 Index. Both are passively managed. Over the past 5 years, DBEF returned 13.77%/yr vs 10.59%/yr for COWZ. A 0.69 correlation means they provide meaningful diversification when combined. DBEF charges 0.35%/yr vs 0.49%/yr for COWZ.

Performance

DBEF vs. COWZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) and Pacer US Cash Cows 100 ETF (COWZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DBEF achieves a 13.76% return, which is significantly higher than COWZ's 7.80% return.

DBEF

• 1D: 1.24%
• 1M: 0.05%
• 6M: 10.88%
• YTD: 13.76%
• 1Y: 27.46%
• 3Y*: 18.38%
• 5Y*: 13.77%
• 10Y*: 12.22%
• ALL TIME*: 10.36%

COWZ

• 1D: -0.20%
• 1M: 4.45%
• 6M: 6.28%
• YTD: 7.80%
• 1Y: 17.95%
• 3Y*: 10.97%
• 5Y*: 10.59%
• 10Y*: —
• ALL TIME*: 12.59%

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

DBEF vs. COWZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DBEF Xtrackers MSCI EAFE Hedged Equity ETF	13.76%	23.16%	13.40%	20.15%	-5.13%	19.60%	2.03%	24.94%	-9.52%	16.74%
COWZ Pacer US Cash Cows 100 ETF	7.80%	8.98%	10.64%	14.73%	0.19%	42.57%	11.65%	23.41%	-10.05%	20.22%

Correlation

The correlation between DBEF and COWZ is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.57
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (All Time) Calculated using the full available price history since Dec 19, 2016	0.69

Over the past year, the correlation between DBEF and COWZ has dropped to 0.42 - well below their long-term average of 0.69, suggesting their price drivers have been diverging.

DBEF vs. COWZ - Sectors Allocation Comparison

Sectors	DBEF	COWZ
Financial Services	24.8%	-
Industrials	19.0%	8.4%
Technology	12.7%	22.9%
Healthcare	10.4%	19.9%
Consumer Cyclical	7.4%	14.3%
Consumer Defensive	6.7%	10.6%
Basic Materials	5.8%	4.0%
Communication Services	4.4%	8.8%
Utilities	3.8%	-
Energy	3.3%	11.2%
Real Estate	1.7%	-

Return for Risk

DBEF vs. COWZ — Risk / Return Rank

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

DBEF

DBEF Risk / Return Rank: 84
DBEF Sharpe Ratio Rank: 86
DBEF Sortino Ratio Rank: 85
DBEF Omega Ratio Rank: 85
DBEF Calmar Ratio Rank: 77
DBEF Martin Ratio Rank: 84

COWZ

COWZ Risk / Return Rank: 68
COWZ Sharpe Ratio Rank: 64
COWZ Sortino Ratio Rank: 68
COWZ Omega Ratio Rank: 61
COWZ Calmar Ratio Rank: 79
COWZ Martin Ratio Rank: 65

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.

DBEF vs. COWZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) and Pacer US Cash Cows 100 ETF (COWZ). 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.

	DBEF	COWZ	Difference
Sharpe ratio: Return per unit of total volatility	2.11	1.57	+0.54
Sortino ratio: Return per unit of downside risk	2.94	2.33	+0.61
Omega ratio: Gain probability vs. loss probability	1.39	1.28	+0.11
Calmar ratio: Return relative to maximum drawdown	2.93	3.03	-0.10
Martin ratio: Return relative to average drawdown	12.22	8.49	+3.73

DBEF vs. COWZ - Sharpe Ratio Comparison

The current DBEF Sharpe Ratio is 2.11, which is higher than the COWZ Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of DBEF and COWZ, 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

DBEF vs. COWZ - Drawdown Comparison

The maximum DBEF drawdown since its inception was -32.46%, smaller than the maximum COWZ drawdown of -38.63%. Use the drawdown chart below to compare losses from any high point for DBEF and COWZ.

Drawdown Indicators

	DBEF	COWZ	Difference
Max Drawdown Largest peak-to-trough decline	-32.46%	-38.63%	+6.17%
Max Drawdown (1Y) Largest decline over 1 year	-9.41%	-5.95%	-3.46%
Max Drawdown (3Y) Largest decline over 3 years	-14.62%	-22.00%	+7.38%
Max Drawdown (5Y) Largest decline over 5 years	-14.95%	-22.00%	+7.05%
Max Drawdown (10Y) Largest decline over 10 years	-32.46%	—	—
Current Drawdown Current decline from peak	-1.17%	-1.26%	+0.09%
Average Drawdown Average peak-to-trough decline	-4.70%	-4.78%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.25%	2.12%	+0.13%

Volatility

DBEF vs. COWZ - Volatility Comparison

Xtrackers MSCI EAFE Hedged Equity ETF (DBEF) and Pacer US Cash Cows 100 ETF (COWZ) have volatilities of 3.65% and 3.82%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DBEF	COWZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.65%	3.82%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	11.13%	8.03%	+3.10%
Volatility (1Y) Calculated over the trailing 1-year period	13.08%	11.49%	+1.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.81%	17.63%	-3.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.58%	19.86%	-4.28%

DBEF vs. COWZ - Expense Ratio Comparison

DBEF has a 0.35% expense ratio, which is lower than COWZ's 0.49% expense ratio.

Dividends

DBEF vs. COWZ - Dividend Comparison

DBEF's dividend yield for the trailing twelve months is around 2.29%, more than COWZ's 1.92% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COWZ Pacer US Cash Cows 100 ETF	1.92%	2.19%	1.82%	1.92%	1.96%	1.48%	2.54%	1.96%	1.67%	1.95%	0.13%	0.00%
DBEF Xtrackers MSCI EAFE Hedged Equity ETF	2.29%	5.55%	1.29%	4.46%	15.85%	2.28%	2.41%	3.03%	3.22%	2.98%	2.55%	3.70%

Frequently Asked Questions

Can I hold both DBEF and COWZ in my portfolio?

DBEF and COWZ have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DBEF or COWZ?

COWZ has higher volatility (3.82%) compared to DBEF (3.65%). In terms of maximum drawdown, DBEF dropped -32.46% vs COWZ's -38.63%.

Which ETF is better, DBEF or COWZ?

On 5-year performance, DBEF leads with 13.77% vs 10.59% for COWZ. On fees, DBEF is cheaper at 0.35% per year. On volatility, DBEF has been the lower-risk option at 3.65%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DBEF or COWZ?

Over the 5-year period, DBEF has performed better with a 13.77% return vs 10.59%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DBEF or COWZ?

DBEF is cheaper with a 0.35% expense ratio, compared with 0.49% for COWZ.

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

DBEF has the higher dividend yield at 2.29%, compared with 1.92% for COWZ.

What is the main difference between DBEF and COWZ?

DBEF is categorized as Foreign Large Cap Equities, while COWZ is Mid Cap Value Equities. DBEF tracks MSCI EAFE US Dollar Hedged Index, while COWZ tracks Pacer US Cash Cows 100 Index. They also come from different issuers: DWS and Pacer. Their fees differ too: 0.35% for DBEF and 0.49% for COWZ.

Which has better risk-adjusted returns?

DBEF currently has the higher Sharpe Ratio (2.11 vs 1.57), 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.