HLGEX vs. COWG

Last updated Apr 2, 2026

Compare and contrast key facts about JPMorgan Mid Cap Growth Fund (HLGEX) and Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG).

HLGEX is managed by JPMorgan. It was launched on Mar 2, 1989. COWG is a passively managed fund by Pacer that tracks the performance of the Pacer US Large Cap Cash Cows Growth Leaders Index. It was launched on Dec 21, 2022.

Performance

HLGEX vs. COWG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Mid Cap Growth Fund (HLGEX) and Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG). The values are adjusted to include any dividend payments, if applicable.

HLGEX vs. COWG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
HLGEX JPMorgan Mid Cap Growth Fund	-5.79%	8.65%	22.80%	23.11%	0.42%
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	-3.92%	10.24%	34.99%	20.69%	-0.68%

Returns By Period

In the year-to-date period, HLGEX achieves a -5.79% return, which is significantly lower than COWG's -3.92% return.

HLGEX

• 1D: 3.94%
• 1M: -6.15%
• YTD: -5.79%
• 6M: -8.32%
• 1Y: 11.90%
• 3Y*: 12.84%
• 5Y*: 3.94%
• 10Y*: 12.70%

COWG

• 1D: 0.24%
• 1M: -4.35%
• YTD: -3.92%
• 6M: -7.05%
• 1Y: 9.21%
• 3Y*: 18.49%
• 5Y*: —
• 10Y*: —

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

HLGEX vs. COWG - Expense Ratio Comparison

HLGEX has a 0.89% expense ratio, which is higher than COWG's 0.49% expense ratio.

HLGEX

JPMorgan Mid Cap Growth Fund

COWG

Pacer US Large Cap Cash Cows Growth Leaders ETF

Return for Risk

HLGEX vs. COWG — Risk / Return Rank

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

HLGEX

HLGEX Risk / Return Rank: 22
HLGEX Sharpe Ratio Rank: 19
HLGEX Sortino Ratio Rank: 21
HLGEX Omega Ratio Rank: 19
HLGEX Calmar Ratio Rank: 27
HLGEX Martin Ratio Rank: 23

COWG

COWG Risk / Return Rank: 26
COWG Sharpe Ratio Rank: 23
COWG Sortino Ratio Rank: 24
COWG Omega Ratio Rank: 24
COWG Calmar Ratio Rank: 31
COWG Martin Ratio Rank: 29

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.

HLGEX vs. COWG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Mid Cap Growth Fund (HLGEX) and Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG). 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.

	HLGEX	COWG	Difference
Sharpe ratio Return per unit of total volatility	0.56	0.41	+0.15
Sortino ratio Return per unit of downside risk	0.95	0.74	+0.21
Omega ratio Gain probability vs. loss probability	1.13	1.10	+0.02
Calmar ratio Return relative to maximum drawdown	0.87	0.79	+0.08
Martin ratio Return relative to average drawdown	2.75	2.55	+0.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HLGEX vs. COWG - Sharpe Ratio Comparison

The current HLGEX Sharpe Ratio is 0.56, which is higher than the COWG Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of HLGEX and COWG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HLGEX	COWG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.56	0.41	+0.15
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.18	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.58	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.93	-0.44

Correlation

The correlation between HLGEX and COWG is 0.92, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

HLGEX vs. COWG - Dividend Comparison

HLGEX's dividend yield for the trailing twelve months is around 10.01%, more than COWG's 0.35% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HLGEX JPMorgan Mid Cap Growth Fund	10.01%	9.43%	14.70%	0.00%	0.79%	8.87%	10.61%	7.29%	7.26%	6.41%	0.04%	5.32%
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	0.35%	0.32%	0.40%	0.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

HLGEX vs. COWG - Drawdown Comparison

The maximum HLGEX drawdown since its inception was -57.65%, which is greater than COWG's maximum drawdown of -23.60%. Use the drawdown chart below to compare losses from any high point for HLGEX and COWG.

Drawdown Indicators

	HLGEX	COWG	Difference
Max Drawdown Largest peak-to-trough decline	-57.65%	-23.60%	-34.05%
Max Drawdown (1Y) Largest decline over 1 year	-14.19%	-12.96%	-1.23%
Max Drawdown (5Y) Largest decline over 5 years	-37.16%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-37.16%	—	—
Current Drawdown Current decline from peak	-10.81%	-7.98%	-2.83%
Average Drawdown Average peak-to-trough decline	-11.46%	-3.36%	-8.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.46%	4.00%	+0.46%

Volatility

HLGEX vs. COWG - Volatility Comparison

JPMorgan Mid Cap Growth Fund (HLGEX) has a higher volatility of 7.64% compared to Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG) at 5.87%. This indicates that HLGEX's price experiences larger fluctuations and is considered to be riskier than COWG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HLGEX	COWG	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.64%	5.87%	+1.77%
Volatility (6M) Calculated over the trailing 6-month period	13.72%	13.24%	+0.48%
Volatility (1Y) Calculated over the trailing 1-year period	23.08%	22.50%	+0.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.32%	19.32%	+3.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.90%	19.32%	+2.58%