PAMC vs. COWG

Last updated Jul 14, 2026

PAMC (Pacer Lunt MidCap Multi-Factor Alternator ETF) and COWG (Pacer US Large Cap Cash Cows Growth Leaders ETF) are both exchange-traded funds - PAMC is a Mid Cap Growth Equities fund tracking the Lunt Capital U.S. MidCap Multi-Factor Rotation Index, while COWG is a Large Cap Growth Equities fund tracking the Pacer US Large Cap Cash Cows Growth Leaders Index. Both are passively managed. Over the past 3 years, PAMC returned 15.33%/yr vs 20.84%/yr for COWG. A 0.76 correlation means they provide meaningful diversification when combined. PAMC charges 0.60%/yr vs 0.49%/yr for COWG.

Performance

PAMC vs. COWG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Lunt MidCap Multi-Factor Alternator ETF (PAMC) 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, PAMC achieves a 15.47% return, which is significantly higher than COWG's 9.67% return.

PAMC

• 1D: -0.86%
• 1M: -2.89%
• 6M: 9.19%
• YTD: 15.47%
• 1Y: 21.99%
• 3Y*: 15.33%
• 5Y*: 9.92%
• 10Y*: —

COWG

• 1D: -1.68%
• 1M: -0.90%
• 6M: 6.06%
• YTD: 9.67%
• 1Y: 11.98%
• 3Y*: 20.84%
• 5Y*: —
• 10Y*: —

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

PAMC vs. COWG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PAMC Pacer Lunt MidCap Multi-Factor Alternator ETF	15.47%	1.54%	26.20%	19.30%	-0.34%
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	9.67%	10.24%	34.99%	20.69%	-0.68%

Correlation

The correlation between PAMC and COWG is 0.69, 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	0.69
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	0.76

The correlation between PAMC and COWG has been stable across timeframes, ranging from 0.69 to 0.76 - a consistent structural relationship.

PAMC vs. COWG - Sectors Allocation Comparison

Sectors	PAMC	COWG
Industrials	25.8%	3.1%
Technology	16.1%	51.4%
Financial Services	15.8%	-
Consumer Cyclical	11.8%	2.9%
Energy	9.8%	7.3%
Basic Materials	5.6%	6.3%
Real Estate	4.0%	-
Consumer Defensive	3.8%	1.9%
Healthcare	3.4%	20.0%
Utilities	3.1%	1.4%
Communication Services	0.7%	5.7%

Return for Risk

PAMC vs. COWG — Risk / Return Rank

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

PAMC

PAMC Risk / Return Rank: 47
PAMC Sharpe Ratio Rank: 40
PAMC Sortino Ratio Rank: 42
PAMC Omega Ratio Rank: 41
PAMC Calmar Ratio Rank: 54
PAMC Martin Ratio Rank: 57

COWG

COWG Risk / Return Rank: 25
COWG Sharpe Ratio Rank: 24
COWG Sortino Ratio Rank: 22
COWG Omega Ratio Rank: 22
COWG Calmar Ratio Rank: 28
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.

PAMC vs. COWG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Lunt MidCap Multi-Factor Alternator ETF (PAMC) 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.

	PAMC	COWG	Difference
Sharpe ratio: Return per unit of total volatility	1.16	0.68	+0.49
Sortino ratio: Return per unit of downside risk	1.76	1.03	+0.73
Omega ratio: Gain probability vs. loss probability	1.22	1.13	+0.09
Calmar ratio: Return relative to maximum drawdown	2.16	1.12	+1.04
Martin ratio: Return relative to average drawdown	7.86	3.19	+4.67

PAMC vs. COWG - Sharpe Ratio Comparison

The current PAMC Sharpe Ratio is 1.16, which is higher than the COWG Sharpe Ratio of 0.68. The chart below compares the historical Sharpe Ratios of PAMC 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.

Drawdowns

PAMC vs. COWG - Drawdown Comparison

The maximum PAMC drawdown since its inception was -27.04%, which is greater than COWG's maximum drawdown of -23.60%. Use the drawdown chart below to compare losses from any high point for PAMC and COWG.

Drawdown Indicators

	PAMC	COWG	Difference
Max Drawdown Largest peak-to-trough decline	-27.04%	-23.60%	-3.44%
Max Drawdown (1Y) Largest decline over 1 year	-10.24%	-10.79%	+0.55%
Max Drawdown (3Y) Largest decline over 3 years	-26.07%	-23.60%	-2.47%
Max Drawdown (5Y) Largest decline over 5 years	-26.61%	—	—
Current Drawdown Current decline from peak	-3.44%	-3.92%	+0.48%
Average Drawdown Average peak-to-trough decline	-7.37%	-3.26%	-4.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.80%	3.76%	-0.96%

Volatility

PAMC vs. COWG - Volatility Comparison

The current volatility for Pacer Lunt MidCap Multi-Factor Alternator ETF (PAMC) is 4.91%, while Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG) has a volatility of 7.68%. This indicates that PAMC 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

	PAMC	COWG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.91%	7.68%	-2.77%
Volatility (6M) Calculated over the trailing 6-month period	14.14%	14.08%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	19.02%	17.77%	+1.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.34%	19.37%	+0.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.67%	19.37%	+1.30%

PAMC vs. COWG - Expense Ratio Comparison

PAMC has a 0.60% expense ratio, which is higher than COWG's 0.49% expense ratio.

Dividends

PAMC vs. COWG - Dividend Comparison

PAMC's dividend yield for the trailing twelve months is around 1.13%, more than COWG's 0.37% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	0.37%	0.32%	0.40%	0.47%	0.00%	0.00%	0.00%
PAMC Pacer Lunt MidCap Multi-Factor Alternator ETF	1.13%	1.11%	0.97%	0.69%	1.29%	0.36%	0.30%

Frequently Asked Questions

Can I hold both PAMC and COWG in my portfolio?

PAMC and COWG have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PAMC or COWG?

COWG has higher volatility (7.68%) compared to PAMC (4.91%). In terms of maximum drawdown, PAMC dropped -27.04% vs COWG's -23.60%.

Which ETF is better, PAMC or COWG?

On 3-year performance, COWG leads with 20.84% vs 15.33% for PAMC. On fees, COWG is cheaper at 0.49% per year. On volatility, PAMC has been the lower-risk option at 4.91%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PAMC or COWG?

Over the 3-year period, COWG has performed better with a 20.84% return vs 15.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PAMC or COWG?

COWG is cheaper with a 0.49% expense ratio, compared with 0.60% for PAMC.

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

PAMC has the higher dividend yield at 1.13%, compared with 0.37% for COWG.

What is the main difference between PAMC and COWG?

PAMC is categorized as Mid Cap Growth Equities, while COWG is Large Cap Growth Equities. PAMC tracks Lunt Capital U.S. MidCap Multi-Factor Rotation Index, while COWG tracks Pacer US Large Cap Cash Cows Growth Leaders Index. Their fees differ too: 0.60% for PAMC and 0.49% for COWG.

Which has better risk-adjusted returns?

PAMC currently has the higher Sharpe Ratio (1.16 vs 0.68), 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.