FRBSX vs. COWZ

Last updated Jun 5, 2026

FRBSX (Franklin Mutual U.S. Mid Cap Value Fund) and COWZ (Pacer US Cash Cows 100 ETF) are both Mid Cap Value Equities funds. Over the past 5 years, FRBSX returned 5.33%/yr vs 10.60%/yr for COWZ. Their correlation of 0.88 suggests significant overlap in exposure. FRBSX charges 0.91%/yr vs 0.49%/yr for COWZ.

Performance

FRBSX vs. COWZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Franklin Mutual U.S. Mid Cap Value Fund (FRBSX) 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, FRBSX achieves a 7.51% return, which is significantly lower than COWZ's 8.30% return.

FRBSX

• 1D: 0.16%
• 1M: 1.55%
• YTD: 7.51%
• 6M: 7.93%
• 1Y: 13.84%
• 3Y*: 11.82%
• 5Y*: 5.33%
• 10Y*: 8.57%

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)

FRBSX vs. COWZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FRBSX Franklin Mutual U.S. Mid Cap Value Fund	7.51%	6.57%	10.78%	9.00%	-6.81%	26.62%	-2.40%	24.53%	-12.64%	12.50%
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 FRBSX and COWZ is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (All Time) Calculated using the full available price history since Dec 20, 2016	0.88

The correlation between FRBSX and COWZ shifts across timeframes, from 0.77 (1 year) to 0.88 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FRBSX vs. COWZ — Risk / Return Rank

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

FRBSX

FRBSX Risk / Return Rank: 15
FRBSX Sharpe Ratio Rank: 15
FRBSX Sortino Ratio Rank: 16
FRBSX Omega Ratio Rank: 14
FRBSX Calmar Ratio Rank: 16
FRBSX Martin Ratio Rank: 14

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.

FRBSX vs. COWZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Franklin Mutual U.S. Mid Cap Value Fund (FRBSX) 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.

	FRBSX	COWZ	Difference
Sharpe ratio: Return per unit of total volatility	1.04	2.06	-1.03
Sortino ratio: Return per unit of downside risk	1.60	3.05	-1.44
Omega ratio: Gain probability vs. loss probability	1.19	1.37	-0.18
Calmar ratio: Return relative to maximum drawdown	1.34	4.57	-3.22
Martin ratio: Return relative to average drawdown	3.87	12.47	-8.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FRBSX vs. COWZ - Sharpe Ratio Comparison

The current FRBSX Sharpe Ratio is 1.04, which is lower than the COWZ Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of FRBSX 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

	FRBSX	COWZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.04	2.06	-1.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.31	0.60	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.65	-0.02

Drawdowns

FRBSX vs. COWZ - Drawdown Comparison

The maximum FRBSX drawdown since its inception was -63.47%, which is greater than COWZ's maximum drawdown of -38.63%. Use the drawdown chart below to compare losses from any high point for FRBSX and COWZ.

Drawdown Indicators

	FRBSX	COWZ	Difference
Max Drawdown Largest peak-to-trough decline	-63.47%	-38.63%	-24.84%
Max Drawdown (1Y) Largest decline over 1 year	-10.15%	-5.00%	-5.15%
Max Drawdown (3Y) Largest decline over 3 years	-17.29%	-22.00%	+4.71%
Max Drawdown (5Y) Largest decline over 5 years	-21.76%	-22.00%	+0.24%
Max Drawdown (10Y) Largest decline over 10 years	-43.69%	—	—
Current Drawdown Current decline from peak	-1.27%	-0.80%	-0.47%
Average Drawdown Average peak-to-trough decline	-8.14%	-4.80%	-3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.52%	1.83%	+1.69%

Volatility

FRBSX vs. COWZ - Volatility Comparison

Franklin Mutual U.S. Mid Cap Value Fund (FRBSX) has a higher volatility of 4.00% compared to Pacer US Cash Cows 100 ETF (COWZ) at 2.50%. This indicates that FRBSX'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

	FRBSX	COWZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.00%	2.50%	+1.50%
Volatility (6M) Calculated over the trailing 6-month period	9.79%	7.12%	+2.67%
Volatility (1Y) Calculated over the trailing 1-year period	13.21%	11.08%	+2.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.31%	17.63%	-0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.32%	19.92%	-0.60%

FRBSX vs. COWZ - Expense Ratio Comparison

FRBSX has a 0.91% expense ratio, which is higher than COWZ's 0.49% expense ratio.

Dividends

FRBSX vs. COWZ - Dividend Comparison

FRBSX's dividend yield for the trailing twelve months is around 4.28%, more 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%
FRBSX Franklin Mutual U.S. Mid Cap Value Fund	4.28%	4.60%	8.44%	2.32%	4.39%	13.02%	3.71%	7.88%	16.87%	8.07%	6.60%	17.29%

Frequently Asked Questions

Can I hold both FRBSX and COWZ in my portfolio?

FRBSX and COWZ have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FRBSX or COWZ?

FRBSX has higher volatility (4.00%) compared to COWZ (2.50%). In terms of maximum drawdown, FRBSX dropped -63.47% vs COWZ's -38.63%.

Which has better risk-adjusted returns?

COWZ currently has the higher Sharpe Ratio (2.06 vs 1.04), 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.