EZM vs. COWZ

Last updated Jun 5, 2026

EZM (WisdomTree U.S. MidCap Earnings Fund) and COWZ (Pacer US Cash Cows 100 ETF) are both exchange-traded funds - EZM is a Mid Cap Blend Equities fund tracking the WisdomTree U.S. MidCap 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, EZM returned 8.11%/yr vs 10.60%/yr for COWZ. Their correlation of 0.89 suggests significant overlap in exposure. EZM charges 0.38%/yr vs 0.49%/yr for COWZ.

Performance

EZM vs. COWZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree U.S. MidCap Earnings Fund (EZM) 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, EZM achieves a 11.29% return, which is significantly higher than COWZ's 8.30% return.

EZM

• 1D: 0.68%
• 1M: 2.22%
• YTD: 11.29%
• 6M: 11.02%
• 1Y: 24.69%
• 3Y*: 16.06%
• 5Y*: 8.11%
• 10Y*: 10.61%

COWZ

• 1D: 0.11%
• 1M: 2.05%
• YTD: 8.30%
• 6M: 8.95%
• 1Y: 22.75%
• 3Y*: 14.62%
• 5Y*: 10.60%
• 10Y*: —

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

EZM vs. COWZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EZM WisdomTree U.S. MidCap Earnings Fund	11.29%	8.42%	10.29%	19.69%	-12.22%	31.00%	5.57%	24.48%	-12.36%	17.37%
COWZ Pacer US Cash Cows 100 ETF	8.30%	8.98%	10.64%	14.73%	0.19%	42.57%	11.65%	23.41%	-10.05%	20.22%

Correlation

The correlation between EZM and COWZ is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Dec 20, 2016	0.89

The correlation between EZM and COWZ shifts across timeframes, from 0.78 (1 year) to 0.89 (5 years), reflecting how their relationship changes across market environments.

EZM vs. COWZ - Sectors Allocation Comparison

Sectors	EZM	COWZ
Financial Services	19.3%	-
Industrials	16.5%	8.4%
Consumer Cyclical	15.4%	11.7%
Technology	12.5%	16.0%
Healthcare	9.2%	21.8%
Energy	7.2%	16.9%
Consumer Defensive	5.4%	10.9%
Real Estate	4.9%	-
Basic Materials	4.4%	3.7%
Utilities	3.3%	-
Communication Services	1.8%	10.4%

Return for Risk

EZM vs. COWZ — Risk / Return Rank

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

EZM

EZM Risk / Return Rank: 53
EZM Sharpe Ratio Rank: 49
EZM Sortino Ratio Rank: 53
EZM Omega Ratio Rank: 48
EZM Calmar Ratio Rank: 58
EZM Martin Ratio Rank: 55

COWZ

COWZ Risk / Return Rank: 69
COWZ Sharpe Ratio Rank: 63
COWZ Sortino Ratio Rank: 67
COWZ Omega Ratio Rank: 61
COWZ Calmar Ratio Rank: 85
COWZ Martin Ratio Rank: 68

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.

EZM vs. COWZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree U.S. MidCap Earnings Fund (EZM) 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.

	EZM	COWZ	Difference
Sharpe ratio: Return per unit of total volatility	1.67	2.06	-0.39
Sortino ratio: Return per unit of downside risk	2.54	3.05	-0.50
Omega ratio: Gain probability vs. loss probability	1.30	1.37	-0.07
Calmar ratio: Return relative to maximum drawdown	2.85	4.57	-1.72
Martin ratio: Return relative to average drawdown	9.66	12.47	-2.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EZM vs. COWZ - Sharpe Ratio Comparison

The current EZM Sharpe Ratio is 1.67, which is comparable to the COWZ Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of EZM 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.

Sharpe Ratios by Period

	EZM	COWZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.67	2.06	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.40	0.60	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.41	0.65	-0.23

Drawdowns

EZM vs. COWZ - Drawdown Comparison

The maximum EZM drawdown since its inception was -59.58%, which is greater than COWZ's maximum drawdown of -38.63%. Use the drawdown chart below to compare losses from any high point for EZM and COWZ.

Drawdown Indicators

	EZM	COWZ	Difference
Max Drawdown Largest peak-to-trough decline	-59.58%	-38.63%	-20.95%
Max Drawdown (1Y) Largest decline over 1 year	-8.70%	-5.00%	-3.70%
Max Drawdown (3Y) Largest decline over 3 years	-23.53%	-22.00%	-1.53%
Max Drawdown (5Y) Largest decline over 5 years	-23.53%	-22.00%	-1.53%
Max Drawdown (10Y) Largest decline over 10 years	-47.26%	—	—
Current Drawdown Current decline from peak	0.00%	-0.80%	+0.80%
Average Drawdown Average peak-to-trough decline	-8.27%	-4.80%	-3.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.56%	1.83%	+0.73%

Volatility

EZM vs. COWZ - Volatility Comparison

WisdomTree U.S. MidCap Earnings Fund (EZM) has a higher volatility of 3.33% compared to Pacer US Cash Cows 100 ETF (COWZ) at 2.50%. This indicates that EZM's price experiences larger fluctuations and is considered to be riskier than COWZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EZM	COWZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.33%	2.50%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	10.25%	7.12%	+3.13%
Volatility (1Y) Calculated over the trailing 1-year period	14.84%	11.08%	+3.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.42%	17.63%	+2.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.35%	19.92%	+2.43%

EZM vs. COWZ - Expense Ratio Comparison

EZM has a 0.38% expense ratio, which is lower than COWZ's 0.49% expense ratio.

Dividends

EZM vs. COWZ - Dividend Comparison

EZM's dividend yield for the trailing twelve months is around 1.25%, less than COWZ's 2.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COWZ Pacer US Cash Cows 100 ETF	2.16%	2.19%	1.82%	1.92%	1.96%	1.48%	2.54%	1.96%	1.67%	1.95%	0.13%	0.00%
EZM WisdomTree U.S. MidCap Earnings Fund	1.25%	1.39%	1.22%	1.25%	1.57%	1.08%	1.67%	1.34%	1.57%	1.14%	1.55%	1.30%

Frequently Asked Questions

Can I hold both EZM and COWZ in my portfolio?

EZM and COWZ have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EZM or COWZ?

EZM has higher volatility (3.33%) compared to COWZ (2.50%). In terms of maximum drawdown, EZM dropped -59.58% vs COWZ's -38.63%.

Which ETF is better, EZM or COWZ?

On 5-year performance, COWZ leads with 10.60% vs 8.11% for EZM. On fees, EZM is cheaper at 0.38% per year. On volatility, COWZ has been the lower-risk option at 2.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EZM or COWZ?

Over the 5-year period, COWZ has performed better with a 10.60% return vs 8.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EZM or COWZ?

EZM is cheaper with a 0.38% expense ratio, compared with 0.49% for COWZ.

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

COWZ has the higher dividend yield at 2.16%, compared with 1.25% for EZM.

What is the main difference between EZM and COWZ?

EZM is categorized as Mid Cap Blend Equities, while COWZ is Mid Cap Value Equities. EZM tracks WisdomTree U.S. MidCap Index, while COWZ tracks Pacer US Cash Cows 100 Index. They also come from different issuers: WisdomTree and Pacer. Their fees differ too: 0.38% for EZM and 0.49% for COWZ.

Which has better risk-adjusted returns?

COWZ currently has the higher Sharpe Ratio (2.06 vs 1.67), 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.