EQRR vs. COWS

Last updated Jun 3, 2026

EQRR (ProShares Equities for Rising Rates ETF) and COWS (Amplify Cash Flow Dividend Leaders ETF) are both Mid Cap Value Equities funds - EQRR tracks the Nasdaq US Large Cap Equity Rising Rates Index while COWS tracks the Kelly US Cash Flow Dividend Leaders Index. Both are passively managed. Over the past year, EQRR returned 44.10% vs 30.18% for COWS. Their correlation of 0.83 suggests significant overlap in exposure. EQRR charges 0.35%/yr vs 0.00%/yr for COWS.

Performance

EQRR vs. COWS - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares Equities for Rising Rates ETF (EQRR) and Amplify Cash Flow Dividend Leaders ETF (COWS). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EQRR achieves a 28.07% return, which is significantly higher than COWS's 9.22% return.

EQRR

• 1D: 2.42%
• 1M: 9.12%
• YTD: 28.07%
• 6M: 29.12%
• 1Y: 44.10%
• 3Y*: 22.52%
• 5Y*: 12.35%
• 10Y*: —

COWS

• 1D: -0.63%
• 1M: 5.01%
• YTD: 9.22%
• 6M: 9.70%
• 1Y: 30.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

EQRR vs. COWS - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
EQRR ProShares Equities for Rising Rates ETF	28.07%	15.49%	7.69%	4.68%
COWS Amplify Cash Flow Dividend Leaders ETF	9.22%	15.29%	11.08%	9.28%

Correlation

The correlation between EQRR and COWS is 0.74, 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	0.74
Correlation (All Time) Calculated using the full available price history since Sep 14, 2023	0.83

The correlation between EQRR and COWS has been stable across timeframes, ranging from 0.74 to 0.83 - a consistent structural relationship.

EQRR vs. COWS - Sectors Allocation Comparison

Sectors	EQRR	COWS
Technology	32.1%	21.0%
Energy	26.8%	8.2%
Financial Services	20.5%	17.2%
Communication Services	11.7%	4.7%
Consumer Cyclical	4.8%	10.9%
Industrials	4.2%	18.7%
Basic Materials	-	6.0%
Consumer Defensive	-	2.4%
Healthcare	-	8.0%
Real Estate	-	-
Utilities	-	2.8%

Return for Risk

EQRR vs. COWS — Risk / Return Rank

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

EQRR

EQRR Risk / Return Rank: 93
EQRR Sharpe Ratio Rank: 91
EQRR Sortino Ratio Rank: 90
EQRR Omega Ratio Rank: 90
EQRR Calmar Ratio Rank: 96
EQRR Martin Ratio Rank: 96

COWS

COWS Risk / Return Rank: 65
COWS Sharpe Ratio Rank: 55
COWS Sortino Ratio Rank: 57
COWS Omega Ratio Rank: 53
COWS Calmar Ratio Rank: 85
COWS Martin Ratio Rank: 75

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.

EQRR vs. COWS - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares Equities for Rising Rates ETF (EQRR) and Amplify Cash Flow Dividend Leaders ETF (COWS). 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.

	EQRR	COWS	Difference
Sharpe ratio Return per unit of total volatility	3.29	1.88	+1.40
Sortino ratio Return per unit of downside risk	4.30	2.76	+1.54
Omega ratio Gain probability vs. loss probability	1.59	1.33	+0.26
Calmar ratio Return relative to maximum drawdown	9.04	4.71	+4.33
Martin ratio Return relative to average drawdown	33.66	14.35	+19.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EQRR vs. COWS - Sharpe Ratio Comparison

The current EQRR Sharpe Ratio is 3.29, which is higher than the COWS Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of EQRR and COWS, 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

	EQRR	COWS	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.29	1.88	+1.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.90	-0.47

Drawdowns

EQRR vs. COWS - Drawdown Comparison

The maximum EQRR drawdown since its inception was -57.93%, which is greater than COWS's maximum drawdown of -24.76%. Use the drawdown chart below to compare losses from any high point for EQRR and COWS.

Drawdown Indicators

	EQRR	COWS	Difference
Max Drawdown Largest peak-to-trough decline	-57.93%	-24.76%	-33.17%
Max Drawdown (1Y) Largest decline over 1 year	-4.95%	-6.44%	+1.49%
Max Drawdown (3Y) Largest decline over 3 years	-17.75%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-21.75%	—	—
Current Drawdown Current decline from peak	0.00%	-0.90%	+0.90%
Average Drawdown Average peak-to-trough decline	-10.08%	-3.95%	-6.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.33%	2.11%	-0.78%

Volatility

EQRR vs. COWS - Volatility Comparison

ProShares Equities for Rising Rates ETF (EQRR) and Amplify Cash Flow Dividend Leaders ETF (COWS) have volatilities of 4.61% and 4.58%, 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

	EQRR	COWS	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.61%	4.58%	+0.03%
Volatility (6M) Calculated over the trailing 6-month period	10.32%	10.09%	+0.23%
Volatility (1Y) Calculated over the trailing 1-year period	13.49%	16.21%	-2.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.38%	18.85%	+2.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.87%	18.85%	+6.02%

EQRR vs. COWS - Expense Ratio Comparison

EQRR has a 0.35% expense ratio, which is higher than COWS's 0.00% expense ratio.

Dividends

EQRR vs. COWS - Dividend Comparison

EQRR's dividend yield for the trailing twelve months is around 1.20%, less than COWS's 1.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
COWS Amplify Cash Flow Dividend Leaders ETF	1.60%	2.04%	2.08%	0.67%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EQRR ProShares Equities for Rising Rates ETF	1.20%	1.70%	2.17%	2.77%	2.34%	1.71%	2.17%	2.05%	2.47%	0.69%

Frequently Asked Questions

Can I hold both EQRR and COWS in my portfolio?

EQRR and COWS have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EQRR or COWS?

EQRR has higher volatility (4.61%) compared to COWS (4.58%). In terms of maximum drawdown, EQRR dropped -57.93% vs COWS's -24.76%.

Which ETF is better, EQRR or COWS?

On 1-year performance, EQRR leads with 44.10% vs 30.18% for COWS. On fees, COWS is cheaper at 0.00% per year. 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, EQRR or COWS?

Over the 1-year period, EQRR has performed better with a 44.10% return vs 30.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EQRR or COWS?

COWS is cheaper with a 0.00% expense ratio, compared with 0.35% for EQRR.

Which ETF pays a higher dividend yield, EQRR or COWS?

COWS has the higher dividend yield at 1.60%, compared with 1.20% for EQRR.

What is the main difference between EQRR and COWS?

EQRR tracks Nasdaq US Large Cap Equity Rising Rates Index, while COWS tracks Kelly US Cash Flow Dividend Leaders Index. They also come from different issuers: ProShares and Amplify. Their fees differ too: 0.35% for EQRR and 0.00% for COWS.

Which has better risk-adjusted returns?

EQRR currently has the higher Sharpe Ratio (3.29 vs 1.88), 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.