LCOW vs. COWG

Last updated Jun 4, 2026

LCOW (Pacer S&P 500 Quality FCF Aristocrats ETF) and COWG (Pacer US Large Cap Cash Cows Growth Leaders ETF) are both exchange-traded funds - LCOW is a S&P 500 fund tracking the S&P 500 Quality FCF Aristocrats Index, while COWG is a Mid Cap Growth Equities fund tracking the Pacer US Large Cap Cash Cows Growth Leaders Index. Both are passively managed. Over the past year, LCOW returned 21.09% vs 13.36% for COWG. Their correlation of 0.82 suggests significant overlap in exposure. Both charge a 0.49% expense ratio.

Performance

LCOW vs. COWG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer S&P 500 Quality FCF Aristocrats ETF (LCOW) and Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LCOW achieves a 6.58% return, which is significantly lower than COWG's 12.50% return.

LCOW

• 1D: -0.55%
• 1M: 5.51%
• YTD: 6.58%
• 6M: 6.94%
• 1Y: 21.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

COWG

• 1D: 0.07%
• 1M: 8.17%
• YTD: 12.50%
• 6M: 12.76%
• 1Y: 13.36%
• 3Y*: 24.53%
• 5Y*: —
• 10Y*: —

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

LCOW vs. COWG - Yearly Performance Comparison

	2026 (YTD)	2025
LCOW Pacer S&P 500 Quality FCF Aristocrats ETF	6.58%	20.51%
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	12.50%	8.53%

Correlation

The correlation between LCOW and COWG is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (All Time) Calculated using the full available price history since May 8, 2025	0.82

The correlation between LCOW and COWG has been stable across timeframes, ranging from 0.82 to 0.82 - a consistent structural relationship.

Return for Risk

LCOW vs. COWG — Risk / Return Rank

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

LCOW

LCOW Risk / Return Rank: 49
LCOW Sharpe Ratio Rank: 51
LCOW Sortino Ratio Rank: 51
LCOW Omega Ratio Rank: 49
LCOW Calmar Ratio Rank: 41
LCOW Martin Ratio Rank: 51

COWG

COWG Risk / Return Rank: 24
COWG Sharpe Ratio Rank: 23
COWG Sortino Ratio Rank: 23
COWG Omega Ratio Rank: 22
COWG Calmar Ratio Rank: 26
COWG Martin Ratio Rank: 26

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.

LCOW vs. COWG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer S&P 500 Quality FCF Aristocrats ETF (LCOW) 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.

	LCOW	COWG	Difference
Sharpe ratio: Return per unit of total volatility	1.76	0.84	+0.92
Sortino ratio: Return per unit of downside risk	2.48	1.24	+1.24
Omega ratio: Gain probability vs. loss probability	1.31	1.15	+0.16
Calmar ratio: Return relative to maximum drawdown	2.05	1.24	+0.81
Martin ratio: Return relative to average drawdown	8.61	3.64	+4.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LCOW vs. COWG - Sharpe Ratio Comparison

The current LCOW Sharpe Ratio is 1.76, which is higher than the COWG Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of LCOW and COWG, 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

	LCOW	COWG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.76	0.84	+0.92
Sharpe Ratio (All Time) Calculated using the full available price history	2.15	1.18	+0.96

Drawdowns

LCOW vs. COWG - Drawdown Comparison

The maximum LCOW drawdown since its inception was -10.34%, smaller than the maximum COWG drawdown of -23.60%. Use the drawdown chart below to compare losses from any high point for LCOW and COWG.

Drawdown Indicators

	LCOW	COWG	Difference
Max Drawdown Largest peak-to-trough decline	-10.34%	-23.60%	+13.26%
Max Drawdown (1Y) Largest decline over 1 year	-10.34%	-10.79%	+0.45%
Max Drawdown (3Y) Largest decline over 3 years	—	-23.60%	—
Current Drawdown Current decline from peak	-0.55%	0.00%	-0.55%
Average Drawdown Average peak-to-trough decline	-1.38%	-3.28%	+1.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.46%	3.67%	-1.21%

Volatility

LCOW vs. COWG - Volatility Comparison

The current volatility for Pacer S&P 500 Quality FCF Aristocrats ETF (LCOW) is 2.29%, while Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG) has a volatility of 3.67%. This indicates that LCOW experiences smaller price fluctuations and is considered to be less risky than COWG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LCOW	COWG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.29%	3.67%	-1.38%
Volatility (6M) Calculated over the trailing 6-month period	9.17%	12.01%	-2.84%
Volatility (1Y) Calculated over the trailing 1-year period	12.05%	15.96%	-3.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.32%	19.11%	-6.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.32%	19.11%	-6.79%

LCOW vs. COWG - Expense Ratio Comparison

Both LCOW and COWG have an expense ratio of 0.49%.

Dividends

LCOW vs. COWG - Dividend Comparison

LCOW's dividend yield for the trailing twelve months is around 0.50%, more than COWG's 0.30% yield.

Position	TTM	2025	2024	2023
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	0.30%	0.32%	0.40%	0.47%
LCOW Pacer S&P 500 Quality FCF Aristocrats ETF	0.50%	0.43%	0.00%	0.00%

Frequently Asked Questions

Can I hold both LCOW and COWG in my portfolio?

LCOW and COWG have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, LCOW or COWG?

COWG has higher volatility (3.67%) compared to LCOW (2.29%). In terms of maximum drawdown, LCOW dropped -10.34% vs COWG's -23.60%.

Which ETF is better, LCOW or COWG?

On 1-year performance, LCOW leads with 21.09% vs 13.36% for COWG. Both ETFs have the same 0.49% expense ratio. On volatility, LCOW has been the lower-risk option at 2.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LCOW or COWG?

Over the 1-year period, LCOW has performed better with a 21.09% return vs 13.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LCOW or COWG?

LCOW and COWG have the same expense ratio: 0.49% per year.

Which ETF pays a higher dividend yield, LCOW or COWG?

LCOW has the higher dividend yield at 0.50%, compared with 0.30% for COWG.

What is the main difference between LCOW and COWG?

LCOW is categorized as S&P 500, while COWG is Mid Cap Growth Equities. LCOW tracks S&P 500 Quality FCF Aristocrats Index, while COWG tracks Pacer US Large Cap Cash Cows Growth Leaders Index.

Which has better risk-adjusted returns?

LCOW currently has the higher Sharpe Ratio (1.76 vs 0.84), 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.