INDQ vs. COWZ

Last updated Jul 8, 2026

INDQ (Pacer ActiveAlpha India Quality ETF) and COWZ (Pacer US Cash Cows 100 ETF) are both exchange-traded funds - INDQ is a India Equities fund actively managed by Pacer, while COWZ is a Mid Cap Value Equities fund tracking the Pacer US Cash Cows 100 Index. INDQ is actively managed, while COWZ is passively managed. At a 0.05 correlation, their price movements are largely independent. INDQ charges 0.88%/yr vs 0.49%/yr for COWZ.

Performance

INDQ vs. COWZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer ActiveAlpha India Quality ETF (INDQ) and Pacer US Cash Cows 100 ETF (COWZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

INDQ

• 1D: -0.53%
• 1M: -0.66%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

COWZ

• 1D: 0.85%
• 1M: 0.53%
• 6M: 4.86%
• YTD: 7.30%
• 1Y: 16.67%
• 3Y*: 12.68%
• 5Y*: 10.83%
• 10Y*: —

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

INDQ vs. COWZ - Yearly Performance Comparison

	2026 (YTD)
INDQ Pacer ActiveAlpha India Quality ETF	3.17%
COWZ Pacer US Cash Cows 100 ETF	2.88%

Correlation

The correlation between INDQ and COWZ is 0.05, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 1, 2026	0.05

Return for Risk

INDQ vs. COWZ — Risk / Return Rank

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

INDQ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

COWZ

COWZ Risk / Return Rank: 54
COWZ Sharpe Ratio Rank: 50
COWZ Sortino Ratio Rank: 52
COWZ Omega Ratio Rank: 47
COWZ Calmar Ratio Rank: 68
COWZ Martin Ratio Rank: 54

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.

INDQ vs. COWZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer ActiveAlpha India Quality ETF (INDQ) 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.

	INDQ	COWZ	Difference
Sharpe ratio: Return per unit of total volatility	—	1.46	—
Sortino ratio: Return per unit of downside risk	—	2.16	—
Omega ratio: Gain probability vs. loss probability	—	1.26	—
Calmar ratio: Return relative to maximum drawdown	—	2.81	—
Martin ratio: Return relative to average drawdown	—	7.89	—

Drawdowns

INDQ vs. COWZ - Drawdown Comparison

The maximum INDQ drawdown since its inception was -6.55%, smaller than the maximum COWZ drawdown of -38.63%. Use the drawdown chart below to compare losses from any high point for INDQ and COWZ.

Drawdown Indicators

	INDQ	COWZ	Difference
Max Drawdown Largest peak-to-trough decline	-6.55%	-38.63%	+32.08%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.95%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-22.00%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-22.00%	—
Current Drawdown Current decline from peak	-6.09%	-1.72%	-4.37%
Average Drawdown Average peak-to-trough decline	-3.21%	-4.79%	+1.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.12%	—

Volatility

Volatility by Period

	INDQ	COWZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.38%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.89%	—
Volatility (1Y) Calculated over the trailing 1-year period	19.86%	11.46%	+8.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.86%	17.66%	+2.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.86%	19.88%	-0.02%

INDQ vs. COWZ - Expense Ratio Comparison

INDQ has a 0.88% expense ratio, which is higher than COWZ's 0.49% expense ratio.

Dividends

INDQ vs. COWZ - Dividend Comparison

INDQ has not paid dividends to shareholders, while COWZ's dividend yield for the trailing twelve months is around 1.93%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
COWZ Pacer US Cash Cows 100 ETF	1.93%	2.19%	1.82%	1.92%	1.96%	1.48%	2.54%	1.96%	1.67%	1.95%	0.13%
INDQ Pacer ActiveAlpha India Quality ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both INDQ and COWZ in my portfolio?

INDQ and COWZ have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, INDQ or COWZ?

On fees, COWZ is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, INDQ or COWZ?

COWZ is cheaper with a 0.49% expense ratio, compared with 0.88% for INDQ.

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

COWZ has the higher dividend yield at 1.93%, compared with 0.00% for INDQ.

What is the main difference between INDQ and COWZ?

INDQ is categorized as India Equities, while COWZ is Mid Cap Value Equities. Their fees differ too: 0.88% for INDQ and 0.49% for COWZ.