EDIV vs. COWZ

Last updated Jul 21, 2026

EDIV (SPDR S&P Emerging Markets Dividend ETF) and COWZ (Pacer US Cash Cows 100 ETF) are both exchange-traded funds - EDIV is a Emerging Markets Equities fund tracking the S&P Emerging Markets Dividend Opportunities 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, EDIV returned 12.20%/yr vs 10.54%/yr for COWZ. A 0.52 correlation means they provide meaningful diversification when combined. Both charge a 0.49% expense ratio.

Performance

EDIV vs. COWZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR S&P Emerging Markets Dividend ETF (EDIV) 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, EDIV achieves a 9.11% return, which is significantly higher than COWZ's 8.02% return.

EDIV

• 1D: -0.52%
• 1M: 1.79%
• 6M: 6.50%
• YTD: 9.11%
• 1Y: 13.09%
• 3Y*: 16.35%
• 5Y*: 12.20%
• 10Y*: 8.40%
• ALL TIME*: 3.21%

COWZ

• 1D: -0.34%
• 1M: 4.66%
• 6M: 5.39%
• YTD: 8.02%
• 1Y: 18.38%
• 3Y*: 11.05%
• 5Y*: 10.54%
• 10Y*: —
• ALL TIME*: 12.62%

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

EDIV vs. COWZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EDIV SPDR S&P Emerging Markets Dividend ETF	9.11%	16.45%	12.75%	41.91%	-15.31%	11.21%	-9.95%	11.80%	-6.16%	28.20%
COWZ Pacer US Cash Cows 100 ETF	8.02%	8.98%	10.64%	14.73%	0.19%	42.57%	11.65%	23.41%	-10.05%	20.22%

Correlation

The correlation between EDIV and COWZ is 0.38, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.38
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (All Time) Calculated using the full available price history since Dec 19, 2016	0.52

The correlation between EDIV and COWZ shifts across timeframes, from 0.38 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.

EDIV vs. COWZ - Sectors Allocation Comparison

Sectors	EDIV	COWZ
Financial Services	30.3%	-
Communication Services	14.0%	8.8%
Consumer Defensive	13.2%	10.6%
Consumer Cyclical	11.9%	14.3%
Technology	9.7%	22.9%
Industrials	9.2%	8.4%
Real Estate	3.3%	-
Energy	3.2%	11.2%
Utilities	2.4%	-
Basic Materials	1.5%	4.0%
Healthcare	1.4%	19.9%

Return for Risk

EDIV vs. COWZ — Risk / Return Rank

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

EDIV

EDIV Risk / Return Rank: 36
EDIV Sharpe Ratio Rank: 38
EDIV Sortino Ratio Rank: 37
EDIV Omega Ratio Rank: 37
EDIV Calmar Ratio Rank: 33
EDIV Martin Ratio Rank: 33

COWZ

COWZ Risk / Return Rank: 69
COWZ Sharpe Ratio Rank: 66
COWZ Sortino Ratio Rank: 70
COWZ Omega Ratio Rank: 63
COWZ Calmar Ratio Rank: 80
COWZ Martin Ratio Rank: 66

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.

EDIV vs. COWZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR S&P Emerging Markets Dividend ETF (EDIV) 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.

	EDIV	COWZ	Difference
Sharpe ratio: Return per unit of total volatility	1.03	1.61	-0.58
Sortino ratio: Return per unit of downside risk	1.52	2.38	-0.86
Omega ratio: Gain probability vs. loss probability	1.19	1.28	-0.09
Calmar ratio: Return relative to maximum drawdown	1.27	3.10	-1.83
Martin ratio: Return relative to average drawdown	3.70	8.70	-5.00

EDIV vs. COWZ - Sharpe Ratio Comparison

The current EDIV Sharpe Ratio is 1.03, which is lower than the COWZ Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of EDIV 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

EDIV vs. COWZ - Drawdown Comparison

The maximum EDIV drawdown since its inception was -53.36%, which is greater than COWZ's maximum drawdown of -38.63%. Use the drawdown chart below to compare losses from any high point for EDIV and COWZ.

Drawdown Indicators

	EDIV	COWZ	Difference
Max Drawdown Largest peak-to-trough decline	-53.36%	-38.63%	-14.73%
Max Drawdown (1Y) Largest decline over 1 year	-10.36%	-5.95%	-4.41%
Max Drawdown (3Y) Largest decline over 3 years	-13.84%	-22.00%	+8.16%
Max Drawdown (5Y) Largest decline over 5 years	-28.32%	-22.00%	-6.32%
Max Drawdown (10Y) Largest decline over 10 years	-40.76%	—	—
Current Drawdown Current decline from peak	-1.64%	-1.06%	-0.58%
Average Drawdown Average peak-to-trough decline	-19.23%	-4.78%	-14.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.54%	2.12%	+1.42%

Volatility

EDIV vs. COWZ - Volatility Comparison

SPDR S&P Emerging Markets Dividend ETF (EDIV) and Pacer US Cash Cows 100 ETF (COWZ) have volatilities of 3.83% and 3.90%, 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

	EDIV	COWZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.83%	3.90%	-0.07%
Volatility (6M) Calculated over the trailing 6-month period	11.05%	8.09%	+2.96%
Volatility (1Y) Calculated over the trailing 1-year period	12.80%	11.51%	+1.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.94%	17.63%	-3.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.30%	19.86%	-2.56%

EDIV vs. COWZ - Expense Ratio Comparison

Both EDIV and COWZ have an expense ratio of 0.49%.

Dividends

EDIV vs. COWZ - Dividend Comparison

EDIV's dividend yield for the trailing twelve months is around 4.16%, more than COWZ's 1.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COWZ Pacer US Cash Cows 100 ETF	1.91%	2.19%	1.82%	1.92%	1.96%	1.48%	2.54%	1.96%	1.67%	1.95%	0.13%	0.00%
EDIV SPDR S&P Emerging Markets Dividend ETF	4.16%	4.69%	3.94%	4.26%	4.94%	3.84%	3.52%	3.83%	3.41%	2.99%	4.94%	5.33%

Frequently Asked Questions

Can I hold both EDIV and COWZ in my portfolio?

EDIV and COWZ have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EDIV or COWZ?

COWZ has higher volatility (3.90%) compared to EDIV (3.83%). In terms of maximum drawdown, EDIV dropped -53.36% vs COWZ's -38.63%.

Which ETF is better, EDIV or COWZ?

On 5-year performance, EDIV leads with 12.20% vs 10.54% for COWZ. Both ETFs have the same 0.49% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EDIV or COWZ?

Over the 5-year period, EDIV has performed better with a 12.20% return vs 10.54%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EDIV or COWZ?

EDIV and COWZ have the same expense ratio: 0.49% per year.

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

EDIV has the higher dividend yield at 4.16%, compared with 1.91% for COWZ.

What is the main difference between EDIV and COWZ?

EDIV is categorized as Emerging Markets Equities, while COWZ is Mid Cap Value Equities. EDIV tracks S&P Emerging Markets Dividend Opportunities Index, while COWZ tracks Pacer US Cash Cows 100 Index. They also come from different issuers: State Street and Pacer.

Which has better risk-adjusted returns?

COWZ currently has the higher Sharpe Ratio (1.61 vs 1.03), 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.