FLQL vs. COWZ

Last updated Aug 2, 2026

FLQL (Franklin LibertyQ U.S. Equity ETF) and COWZ (Pacer US Cash Cows 100 ETF) are both exchange-traded funds - FLQL is a Large Cap Growth Equities fund tracking the LibertyQ U.S. Large Cap Equity 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, FLQL returned 13.53%/yr vs 10.98%/yr for COWZ. Their 0.70 correlation means they have sometimes moved together and sometimes differently. FLQL charges 0.15%/yr vs 0.49%/yr for COWZ.

Performance

FLQL vs. COWZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin LibertyQ U.S. Equity ETF (FLQL) and Pacer US Cash Cows 100 ETF (COWZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with FLQL having a 11.68% return and COWZ slightly higher at 11.74%.

FLQL

• 1D: 0.84%
• 1M: 0.12%
• 6M: 8.79%
• YTD: 11.68%
• 1Y: 22.61%
• 3Y*: 20.52%
• 5Y*: 13.53%
• 10Y*: —
• ALL TIME*: 14.62%

COWZ

• 1D: 0.19%
• 1M: 4.89%
• 6M: 7.97%
• YTD: 11.74%
• 1Y: 23.82%
• 3Y*: 11.64%
• 5Y*: 10.98%
• 10Y*: —
• ALL TIME*: 12.98%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
COWZ Pacer US Cash Cows 100 ETF	$65.11M	$58.70M	$60.07M
FLQL Franklin LibertyQ U.S. Equity ETF	$7.90M	$6.01M	$6.42M

FLQL vs. COWZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FLQL Franklin LibertyQ U.S. Equity ETF	11.68%	19.64%	24.33%	23.58%	-14.83%	26.58%	10.67%	29.09%	-2.79%	15.04%
COWZ Pacer US Cash Cows 100 ETF	11.74%	8.98%	10.64%	14.73%	0.19%	42.57%	11.65%	23.41%	-10.05%	12.23%

Correlation

The correlation between FLQL and COWZ is 0.33, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.33
Correlation (3Y) Balances recent behavior with more history.	0.54
Correlation (5Y) Shows whether the relationship held over a longer period.	0.67
Correlation (All Time) Calculated using the full available price history since Apr 28, 2017	0.70

Over the past year, the correlation between FLQL and COWZ has dropped to 0.33 - well below their long-term average of 0.70, suggesting their price drivers have been diverging.

FLQL vs. COWZ - Sectors Allocation Comparison

Sectors	FLQL	COWZ
Technology	39.4%	22.9%
Communication Services	10.5%	8.8%
Healthcare	10.2%	19.9%
Financial Services	9.6%	-
Industrials	9.0%	8.4%
Consumer Cyclical	8.9%	14.3%
Consumer Defensive	3.4%	10.6%
Real Estate	2.7%	-
Energy	2.6%	11.2%
Utilities	2.0%	-
Basic Materials	1.7%	4.0%

Return for Risk

FLQL vs. COWZ — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLQL

FLQL Risk / Return Rank: 68
FLQL Sharpe Ratio Rank: 65
FLQL Sortino Ratio Rank: 65
FLQL Omega Ratio Rank: 63
FLQL Calmar Ratio Rank: 67
FLQL Martin Ratio Rank: 80

COWZ

COWZ Risk / Return Rank: 85
COWZ Sharpe Ratio Rank: 83
COWZ Sortino Ratio Rank: 86
COWZ Omega Ratio Rank: 82
COWZ Calmar Ratio Rank: 90
COWZ Martin Ratio Rank: 83

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLQL vs. COWZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin LibertyQ U.S. Equity ETF (FLQL) 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.

	FLQL	COWZ	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.93	-0.43
Sortino ratio: Return per unit of downside risk	2.14	2.86	-0.71
Omega ratio: Gain probability vs. loss probability	1.27	1.34	-0.08
Calmar ratio: Return relative to maximum drawdown	2.32	3.83	-1.51
Martin ratio: Return relative to average drawdown	10.31	11.22	-0.90

FLQL vs. COWZ - Sharpe Ratio Comparison

The current FLQL Sharpe Ratio is 1.49, which is comparable to the COWZ Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of FLQL 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

FLQL vs. COWZ - Drawdown Comparison

The maximum FLQL drawdown since its inception was -33.64%, smaller than the maximum COWZ drawdown of -38.63%. Use the drawdown chart below to compare losses from any high point for FLQL and COWZ.

Drawdown Indicators

	FLQL	COWZ	Difference
Max Drawdown Largest peak-to-trough decline	-33.64%	-38.63%	+4.99%
Max Drawdown (1Y) Largest decline over 1 year	-9.05%	-5.95%	-3.10%
Max Drawdown (3Y) Largest decline over 3 years	-19.32%	-22.00%	+2.68%
Max Drawdown (5Y) Largest decline over 5 years	-21.41%	-22.00%	+0.59%
Current Drawdown Current decline from peak	-1.70%	-1.40%	-0.30%
Average Drawdown Average peak-to-trough decline	-4.00%	-4.77%	+0.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.04%	2.03%	+0.01%

Volatility

FLQL vs. COWZ - Volatility Comparison

The current volatility for Franklin LibertyQ U.S. Equity ETF (FLQL) is 4.39%, while Pacer US Cash Cows 100 ETF (COWZ) has a volatility of 5.04%. This indicates that FLQL experiences smaller price fluctuations and is considered to be less risky than COWZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FLQL	COWZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	5.04%	-0.65%
Volatility (6M) Calculated over the trailing 6-month period	11.43%	8.74%	+2.69%
Volatility (1Y) Calculated over the trailing 1-year period	14.10%	11.91%	+2.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.30%	17.69%	-1.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.49%	19.86%	-2.37%

FLQL vs. COWZ - Expense Ratio Comparison

FLQL has a 0.15% expense ratio, which is lower than COWZ's 0.49% expense ratio.

Dividends

FLQL vs. COWZ - Dividend Comparison

FLQL's dividend yield for the trailing twelve months is around 1.04%, less than COWZ's 1.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
COWZ Pacer US Cash Cows 100 ETF	1.85%	2.19%	1.82%	1.92%	1.96%	1.48%	2.54%	1.96%	1.67%	1.95%	0.13%
FLQL Franklin LibertyQ U.S. Equity ETF	1.04%	1.10%	1.13%	1.50%	2.07%	1.81%	1.99%	1.78%	1.82%	1.22%	0.00%

Frequently Asked Questions

Can I hold both FLQL and COWZ in my portfolio?

FLQL and COWZ have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLQL or COWZ?

COWZ has higher volatility (5.04%) compared to FLQL (4.39%). In terms of maximum drawdown, FLQL dropped -33.64% vs COWZ's -38.63%.

Which ETF is better, FLQL or COWZ?

On 5-year performance, FLQL leads with 13.53% vs 10.98% for COWZ. On fees, FLQL is cheaper at 0.15% per year. On volatility, FLQL has been the lower-risk option at 4.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLQL or COWZ?

Over the 5-year period, FLQL has performed better with a 13.53% return vs 10.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLQL or COWZ?

FLQL is cheaper with a 0.15% expense ratio, compared with 0.49% for COWZ.

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

COWZ has the higher dividend yield at 1.85%, compared with 1.04% for FLQL.

What is the main difference between FLQL and COWZ?

FLQL is categorized as Large Cap Growth Equities, while COWZ is Mid Cap Value Equities. FLQL tracks LibertyQ U.S. Large Cap Equity Index, while COWZ tracks Pacer US Cash Cows 100 Index. They also come from different issuers: Franklin Templeton and Pacer. Their fees differ too: 0.15% for FLQL and 0.49% for COWZ.

Which has better risk-adjusted returns?

COWZ currently has the higher Sharpe Ratio (1.93 vs 1.49), 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.