MCOW vs. COWG

Last updated Jun 23, 2026

MCOW (Pacer S&P MidCap 400 Quality FCF Aristocrats ETF) and COWG (Pacer US Large Cap Cash Cows Growth Leaders ETF) are both exchange-traded funds - MCOW is a Mid Cap Blend Equities fund tracking the S&P MidCap 400 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. Their correlation of 0.83 suggests significant overlap in exposure. Both charge a 0.49% expense ratio.

Performance

MCOW vs. COWG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer S&P MidCap 400 Quality FCF Aristocrats ETF (MCOW) 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, MCOW achieves a 7.58% return, which is significantly lower than COWG's 10.61% return.

MCOW

• 1D: 0.23%
• 1M: 2.01%
• YTD: 7.58%
• 6M: 5.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

COWG

• 1D: 0.08%
• 1M: 1.71%
• YTD: 10.61%
• 6M: 8.49%
• 1Y: 14.12%
• 3Y*: 23.78%
• 5Y*: —
• 10Y*: —

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

MCOW vs. COWG - Yearly Performance Comparison

	2026 (YTD)	2025
MCOW Pacer S&P MidCap 400 Quality FCF Aristocrats ETF	7.58%	-3.62%
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	10.61%	0.54%

Correlation

The correlation between MCOW and COWG is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Aug 28, 2025	0.83

Return for Risk

MCOW vs. COWG — Risk / Return Rank

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

MCOW

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

COWG

COWG Risk / Return Rank: 25
COWG Sharpe Ratio Rank: 25
COWG Sortino Ratio Rank: 23
COWG Omega Ratio Rank: 22
COWG Calmar Ratio Rank: 28
COWG Martin Ratio Rank: 28

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.

MCOW vs. COWG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer S&P MidCap 400 Quality FCF Aristocrats ETF (MCOW) 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.

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.

	MCOW	COWG	Difference
Sharpe ratio: Return per unit of total volatility	—	0.84	—
Sortino ratio: Return per unit of downside risk	—	1.23	—
Omega ratio: Gain probability vs. loss probability	—	1.15	—
Calmar ratio: Return relative to maximum drawdown	—	1.31	—
Martin ratio: Return relative to average drawdown	—	3.82	—

Drawdowns

MCOW vs. COWG - Drawdown Comparison

The maximum MCOW drawdown since its inception was -15.02%, smaller than the maximum COWG drawdown of -23.60%. Use the drawdown chart below to compare losses from any high point for MCOW and COWG.

Drawdown Indicators

	MCOW	COWG	Difference
Max Drawdown Largest peak-to-trough decline	-15.02%	-23.60%	+8.58%
Max Drawdown (1Y) Largest decline over 1 year	—	-10.79%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-23.60%	—
Current Drawdown Current decline from peak	-1.45%	-1.68%	+0.23%
Average Drawdown Average peak-to-trough decline	-4.46%	-3.27%	-1.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	3.71%	—

Volatility

Volatility by Period

	MCOW	COWG	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	6.72%	—
Volatility (6M) Calculated over the trailing 6-month period	—	13.05%	—
Volatility (1Y) Calculated over the trailing 1-year period	17.96%	16.86%	+1.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.96%	19.23%	-1.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.96%	19.23%	-1.27%

MCOW vs. COWG - Expense Ratio Comparison

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

Dividends

MCOW vs. COWG - Dividend Comparison

MCOW's dividend yield for the trailing twelve months is around 0.21%, less than COWG's 0.36% yield.

Position	TTM	2025	2024	2023
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	0.36%	0.32%	0.40%	0.47%
MCOW Pacer S&P MidCap 400 Quality FCF Aristocrats ETF	0.21%	0.11%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MCOW and COWG in my portfolio?

MCOW and COWG have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MCOW or COWG?

Both ETFs have the same 0.49% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MCOW or COWG?

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

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

COWG has the higher dividend yield at 0.36%, compared with 0.21% for MCOW.

What is the main difference between MCOW and COWG?

MCOW is categorized as Mid Cap Blend Equities, while COWG is Mid Cap Growth Equities. MCOW tracks S&P MidCap 400 Quality FCF Aristocrats Index, while COWG tracks Pacer US Large Cap Cash Cows Growth Leaders Index.