ECOW vs. COWG

Last updated Jun 4, 2026

ECOW (Pacer Emerging Markets Cash Cows 100 ETF) and COWG (Pacer US Large Cap Cash Cows Growth Leaders ETF) are both exchange-traded funds - ECOW is a Emerging Markets Equities fund tracking the Pacer Emerging Markets Cash Cows 100 Index, while COWG is a Mid Cap Growth Equities fund tracking the Pacer US Large Cap Cash Cows Growth Leaders Index. Both are passively managed. Over the past 3 years, ECOW returned 19.90%/yr vs 24.53%/yr for COWG. At a 0.48 correlation, their price movements are largely independent. ECOW charges 0.70%/yr vs 0.49%/yr for COWG.

Performance

ECOW vs. COWG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Emerging Markets Cash Cows 100 ETF (ECOW) and Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ECOW having a 13.10% return and COWG slightly lower at 12.50%.

ECOW

• 1D: -1.50%
• 1M: -0.42%
• YTD: 13.10%
• 6M: 12.29%
• 1Y: 35.35%
• 3Y*: 19.90%
• 5Y*: 6.12%
• 10Y*: —

COWG

• 1D: 0.07%
• 1M: 8.17%
• YTD: 12.50%
• 6M: 12.76%
• 1Y: 13.36%
• 3Y*: 24.53%
• 5Y*: —
• 10Y*: —

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

ECOW vs. COWG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
ECOW Pacer Emerging Markets Cash Cows 100 ETF	13.10%	32.50%	3.17%	15.79%	-0.22%
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	12.50%	10.24%	34.99%	20.69%	-0.68%

Correlation

The correlation between ECOW and COWG is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (All Time) Calculated using the full available price history since Dec 23, 2022	0.48

The correlation between ECOW and COWG has been stable across timeframes, ranging from 0.47 to 0.55 - a consistent structural relationship.

ECOW vs. COWG - Sectors Allocation Comparison

Sectors	ECOW	COWG
Communication Services	18.4%	5.2%
Energy	16.1%	8.4%
Industrials	15.5%	3.6%
Consumer Cyclical	12.5%	3.2%
Technology	9.8%	48.5%
Basic Materials	9.6%	6.5%
Consumer Defensive	8.5%	2.0%
Utilities	7.9%	1.5%
Healthcare	1.6%	21.0%
Financial Services	-	-
Real Estate	-	-

Return for Risk

ECOW vs. COWG — Risk / Return Rank

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

ECOW

ECOW Risk / Return Rank: 77
ECOW Sharpe Ratio Rank: 76
ECOW Sortino Ratio Rank: 72
ECOW Omega Ratio Rank: 76
ECOW Calmar Ratio Rank: 81
ECOW Martin Ratio Rank: 79

COWG

COWG Risk / Return Rank: 24
COWG Sharpe Ratio Rank: 23
COWG Sortino Ratio Rank: 23
COWG Omega Ratio Rank: 22
COWG Calmar Ratio Rank: 26
COWG Martin Ratio Rank: 26

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.

ECOW vs. COWG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Emerging Markets Cash Cows 100 ETF (ECOW) and Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG). 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.

	ECOW	COWG	Difference
Sharpe ratio: Return per unit of total volatility	2.50	0.84	+1.66
Sortino ratio: Return per unit of downside risk	3.30	1.24	+2.06
Omega ratio: Gain probability vs. loss probability	1.46	1.15	+0.31
Calmar ratio: Return relative to maximum drawdown	4.25	1.24	+3.01
Martin ratio: Return relative to average drawdown	15.39	3.64	+11.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ECOW vs. COWG - Sharpe Ratio Comparison

The current ECOW Sharpe Ratio is 2.50, which is higher than the COWG Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of ECOW and COWG, 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

	ECOW	COWG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	0.84	+1.66
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	1.18	-0.81

Drawdowns

ECOW vs. COWG - Drawdown Comparison

The maximum ECOW drawdown since its inception was -40.27%, which is greater than COWG's maximum drawdown of -23.60%. Use the drawdown chart below to compare losses from any high point for ECOW and COWG.

Drawdown Indicators

	ECOW	COWG	Difference
Max Drawdown Largest peak-to-trough decline	-40.27%	-23.60%	-16.67%
Max Drawdown (1Y) Largest decline over 1 year	-8.35%	-10.79%	+2.44%
Max Drawdown (3Y) Largest decline over 3 years	-18.77%	-23.60%	+4.83%
Max Drawdown (5Y) Largest decline over 5 years	-33.67%	—	—
Current Drawdown Current decline from peak	-3.53%	0.00%	-3.53%
Average Drawdown Average peak-to-trough decline	-11.07%	-3.28%	-7.79%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	3.67%	-1.37%

Volatility

ECOW vs. COWG - Volatility Comparison

Pacer Emerging Markets Cash Cows 100 ETF (ECOW) has a higher volatility of 4.66% compared to Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG) at 3.67%. This indicates that ECOW's price experiences larger fluctuations and is considered to be riskier than COWG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ECOW	COWG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.66%	3.67%	+0.99%
Volatility (6M) Calculated over the trailing 6-month period	10.88%	12.01%	-1.13%
Volatility (1Y) Calculated over the trailing 1-year period	14.19%	15.96%	-1.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.65%	19.11%	-1.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.13%	19.11%	+1.02%

ECOW vs. COWG - Expense Ratio Comparison

ECOW has a 0.70% expense ratio, which is higher than COWG's 0.49% expense ratio.

Dividends

ECOW vs. COWG - Dividend Comparison

ECOW's dividend yield for the trailing twelve months is around 4.60%, more than COWG's 0.30% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	0.30%	0.32%	0.40%	0.47%	0.00%	0.00%	0.00%	0.00%
ECOW Pacer Emerging Markets Cash Cows 100 ETF	4.60%	5.20%	7.35%	5.46%	7.50%	4.39%	3.35%	8.08%

Frequently Asked Questions

Can I hold both ECOW and COWG in my portfolio?

ECOW and COWG have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ECOW or COWG?

ECOW has higher volatility (4.66%) compared to COWG (3.67%). In terms of maximum drawdown, ECOW dropped -40.27% vs COWG's -23.60%.

Which ETF is better, ECOW or COWG?

On 3-year performance, COWG leads with 24.53% vs 19.90% for ECOW. On fees, COWG is cheaper at 0.49% per year. On volatility, COWG has been the lower-risk option at 3.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ECOW or COWG?

Over the 3-year period, COWG has performed better with a 24.53% return vs 19.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ECOW or COWG?

COWG is cheaper with a 0.49% expense ratio, compared with 0.70% for ECOW.

Which ETF pays a higher dividend yield, ECOW or COWG?

ECOW has the higher dividend yield at 4.60%, compared with 0.30% for COWG.

What is the main difference between ECOW and COWG?

ECOW is categorized as Emerging Markets Equities, while COWG is Mid Cap Growth Equities. ECOW tracks Pacer Emerging Markets Cash Cows 100 Index, while COWG tracks Pacer US Large Cap Cash Cows Growth Leaders Index. Their fees differ too: 0.70% for ECOW and 0.49% for COWG.

Which has better risk-adjusted returns?

ECOW currently has the higher Sharpe Ratio (2.50 vs 0.84), 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.