DCPE vs. GCOW

Last updated Jun 24, 2026

DCPE (DoubleLine Shiller CAPE US Equities ETF) and GCOW (Pacer Global Cash Cows Dividend ETF) are both Large Cap Value Equities funds - DCPE tracks the Shiller Barclays CAPE US Sector Index while GCOW tracks the Pacer Global Cash Cows Dividends Index. Both are passively managed. Over the past 3 years, DCPE returned 11.89%/yr vs 15.59%/yr for GCOW. A 0.63 correlation means they provide meaningful diversification when combined. DCPE charges 0.65%/yr vs 0.60%/yr for GCOW.

Performance

DCPE vs. GCOW - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DoubleLine Shiller CAPE US Equities ETF (DCPE) 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, DCPE achieves a -0.06% return, which is significantly lower than GCOW's 7.34% return.

DCPE

• 1D: 1.38%
• 1M: -0.99%
• YTD: -0.06%
• 6M: -0.35%
• 1Y: 3.99%
• 3Y*: 11.89%
• 5Y*: —
• 10Y*: —

GCOW

• 1D: 0.00%
• 1M: -6.00%
• YTD: 7.34%
• 6M: 7.32%
• 1Y: 21.14%
• 3Y*: 15.59%
• 5Y*: 11.72%
• 10Y*: 9.95%

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

DCPE vs. GCOW - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DCPE DoubleLine Shiller CAPE US Equities ETF	-0.06%	9.10%	14.40%	27.65%	-15.28%
GCOW Pacer Global Cash Cows Dividend ETF	7.34%	27.34%	3.52%	13.95%	-3.11%

Correlation

The correlation between DCPE and GCOW is 0.56, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.58
Correlation (All Time) Calculated using the full available price history since Apr 4, 2022	0.63

The correlation between DCPE and GCOW has been stable across timeframes, ranging from 0.56 to 0.63 - a consistent structural relationship.

Return for Risk

DCPE vs. GCOW — Risk / Return Rank

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

DCPE

DCPE Risk / Return Rank: 14
DCPE Sharpe Ratio Rank: 14
DCPE Sortino Ratio Rank: 13
DCPE Omega Ratio Rank: 13
DCPE Calmar Ratio Rank: 13
DCPE Martin Ratio Rank: 16

GCOW

GCOW Risk / Return Rank: 60
GCOW Sharpe Ratio Rank: 60
GCOW Sortino Ratio Rank: 61
GCOW Omega Ratio Rank: 56
GCOW Calmar Ratio Rank: 64
GCOW Martin Ratio Rank: 61

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.

DCPE vs. GCOW - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DoubleLine Shiller CAPE US Equities ETF (DCPE) 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.

	DCPE	GCOW	Difference
Sharpe ratio: Return per unit of total volatility	0.36	1.91	-1.55
Sortino ratio: Return per unit of downside risk	0.60	2.74	-2.15
Omega ratio: Gain probability vs. loss probability	1.07	1.33	-0.26
Calmar ratio: Return relative to maximum drawdown	0.41	3.06	-2.65
Martin ratio: Return relative to average drawdown	1.46	10.42	-8.95

DCPE vs. GCOW - Sharpe Ratio Comparison

The current DCPE Sharpe Ratio is 0.36, which is lower than the GCOW Sharpe Ratio of 1.91. The chart below compares the historical Sharpe Ratios of DCPE 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

DCPE vs. GCOW - Drawdown Comparison

The maximum DCPE drawdown since its inception was -22.07%, smaller than the maximum GCOW drawdown of -37.64%. Use the drawdown chart below to compare losses from any high point for DCPE and GCOW.

Drawdown Indicators

	DCPE	GCOW	Difference
Max Drawdown Largest peak-to-trough decline	-22.07%	-37.64%	+15.57%
Max Drawdown (1Y) Largest decline over 1 year	-9.68%	-6.93%	-2.75%
Max Drawdown (3Y) Largest decline over 3 years	-14.32%	-12.35%	-1.97%
Max Drawdown (5Y) Largest decline over 5 years	—	-21.48%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-37.64%	—
Current Drawdown Current decline from peak	-3.24%	-6.93%	+3.69%
Average Drawdown Average peak-to-trough decline	-4.90%	-5.83%	+0.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	2.03%	+0.70%

Volatility

DCPE vs. GCOW - Volatility Comparison

DoubleLine Shiller CAPE US Equities ETF (DCPE) has a higher volatility of 3.60% compared to Pacer Global Cash Cows Dividend ETF (GCOW) at 2.89%. This indicates that DCPE'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

	DCPE	GCOW	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.60%	2.89%	+0.71%
Volatility (6M) Calculated over the trailing 6-month period	8.60%	8.29%	+0.31%
Volatility (1Y) Calculated over the trailing 1-year period	11.14%	11.09%	+0.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.89%	13.50%	+3.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.89%	16.03%	+0.86%

DCPE vs. GCOW - Expense Ratio Comparison

DCPE has a 0.65% expense ratio, which is higher than GCOW's 0.60% expense ratio.

Dividends

DCPE vs. GCOW - Dividend Comparison

DCPE's dividend yield for the trailing twelve months is around 1.38%, less than GCOW's 4.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
DCPE DoubleLine Shiller CAPE US Equities ETF	1.38%	1.39%	1.23%	1.01%	0.80%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
GCOW Pacer Global Cash Cows Dividend ETF	4.90%	4.06%	5.14%	5.28%	4.39%	4.23%	4.12%	4.40%	3.94%	2.79%	1.95%

Frequently Asked Questions

Can I hold both DCPE and GCOW in my portfolio?

DCPE and GCOW have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DCPE or GCOW?

DCPE has higher volatility (3.60%) compared to GCOW (2.89%). In terms of maximum drawdown, DCPE dropped -22.07% vs GCOW's -37.64%.

Which ETF is better, DCPE or GCOW?

On 3-year performance, GCOW leads with 15.59% vs 11.89% for DCPE. On fees, GCOW is cheaper at 0.60% per year. On volatility, GCOW has been the lower-risk option at 2.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DCPE or GCOW?

Over the 3-year period, GCOW has performed better with a 15.59% return vs 11.89%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DCPE or GCOW?

GCOW is cheaper with a 0.60% expense ratio, compared with 0.65% for DCPE.

Which ETF pays a higher dividend yield, DCPE or GCOW?

GCOW has the higher dividend yield at 4.90%, compared with 1.38% for DCPE.

What is the main difference between DCPE and GCOW?

DCPE tracks Shiller Barclays CAPE US Sector Index, while GCOW tracks Pacer Global Cash Cows Dividends Index. They also come from different issuers: DoubleLine and Pacer. Their fees differ too: 0.65% for DCPE and 0.60% for GCOW.

Which has better risk-adjusted returns?

GCOW currently has the higher Sharpe Ratio (1.91 vs 0.36), 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.