HOVLX vs. COWZ

Last updated Jun 5, 2026

HOVLX (Homestead Funds Value Fund) and COWZ (Pacer US Cash Cows 100 ETF) are both funds - HOVLX is a Large Cap Value Equities fund managed by Homestead, while COWZ is a Mid Cap Value Equities fund tracking the Pacer US Cash Cows 100 Index. Over the past 5 years, HOVLX returned 9.52%/yr vs 10.60%/yr for COWZ. Their correlation of 0.85 suggests significant overlap in exposure. HOVLX charges 0.63%/yr vs 0.49%/yr for COWZ.

Performance

HOVLX vs. COWZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Homestead Funds Value Fund (HOVLX) 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 HOVLX having a 8.24% return and COWZ slightly higher at 8.30%.

HOVLX

• 1D: -0.04%
• 1M: 2.13%
• YTD: 8.24%
• 6M: 9.65%
• 1Y: 21.29%
• 3Y*: 16.61%
• 5Y*: 9.52%
• 10Y*: 12.21%

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)

HOVLX vs. COWZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HOVLX Homestead Funds Value Fund	8.24%	14.60%	14.29%	12.03%	-5.67%	25.09%	7.74%	27.72%	-6.52%	22.22%
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 HOVLX and COWZ is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Dec 20, 2016	0.85

The correlation between HOVLX and COWZ shifts across timeframes, from 0.70 (1 year) to 0.85 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HOVLX vs. COWZ — Risk / Return Rank

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

HOVLX

HOVLX Risk / Return Rank: 46
HOVLX Sharpe Ratio Rank: 45
HOVLX Sortino Ratio Rank: 46
HOVLX Omega Ratio Rank: 43
HOVLX Calmar Ratio Rank: 47
HOVLX Martin Ratio Rank: 52

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.

HOVLX vs. COWZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Homestead Funds Value Fund (HOVLX) 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.

	HOVLX	COWZ	Difference
Sharpe ratio: Return per unit of total volatility	1.94	2.06	-0.12
Sortino ratio: Return per unit of downside risk	2.84	3.05	-0.20
Omega ratio: Gain probability vs. loss probability	1.35	1.37	-0.02
Calmar ratio: Return relative to maximum drawdown	2.60	4.57	-1.97
Martin ratio: Return relative to average drawdown	10.45	12.47	-2.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HOVLX vs. COWZ - Sharpe Ratio Comparison

The current HOVLX Sharpe Ratio is 1.94, which is comparable to the COWZ Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of HOVLX 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

	HOVLX	COWZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	2.06	-0.12
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.63	0.60	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.68	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.65	-0.04

Drawdowns

HOVLX vs. COWZ - Drawdown Comparison

The maximum HOVLX drawdown since its inception was -57.90%, which is greater than COWZ's maximum drawdown of -38.63%. Use the drawdown chart below to compare losses from any high point for HOVLX and COWZ.

Drawdown Indicators

	HOVLX	COWZ	Difference
Max Drawdown Largest peak-to-trough decline	-57.90%	-38.63%	-19.27%
Max Drawdown (1Y) Largest decline over 1 year	-8.24%	-5.00%	-3.24%
Max Drawdown (3Y) Largest decline over 3 years	-15.81%	-22.00%	+6.19%
Max Drawdown (5Y) Largest decline over 5 years	-19.32%	-22.00%	+2.68%
Max Drawdown (10Y) Largest decline over 10 years	-38.08%	—	—
Current Drawdown Current decline from peak	-0.04%	-0.80%	+0.76%
Average Drawdown Average peak-to-trough decline	-6.82%	-4.80%	-2.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	1.83%	+0.22%

Volatility

HOVLX vs. COWZ - Volatility Comparison

Homestead Funds Value Fund (HOVLX) and Pacer US Cash Cows 100 ETF (COWZ) have volatilities of 2.62% and 2.50%, 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

	HOVLX	COWZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.62%	2.50%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	8.41%	7.12%	+1.29%
Volatility (1Y) Calculated over the trailing 1-year period	11.06%	11.08%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.09%	17.63%	-2.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.90%	19.92%	-2.02%

HOVLX vs. COWZ - Expense Ratio Comparison

HOVLX has a 0.63% expense ratio, which is higher than COWZ's 0.49% expense ratio.

Dividends

HOVLX vs. COWZ - Dividend Comparison

HOVLX's dividend yield for the trailing twelve months is around 9.81%, 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%
HOVLX Homestead Funds Value Fund	9.81%	10.62%	9.71%	5.75%	10.54%	8.65%	16.55%	15.30%	11.01%	5.34%	10.00%	7.22%

Frequently Asked Questions

Can I hold both HOVLX and COWZ in my portfolio?

HOVLX and COWZ have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HOVLX or COWZ?

HOVLX has higher volatility (2.62%) compared to COWZ (2.50%). In terms of maximum drawdown, HOVLX dropped -57.90% vs COWZ's -38.63%.

Which has better risk-adjusted returns?

COWZ currently has the higher Sharpe Ratio (2.06 vs 1.94), 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.