PNNT vs. COWZ
PNNT (PennantPark Investment Corporation) is a stock, while COWZ (Pacer US Cash Cows 100 ETF) is Mid Cap Value Equities fund tracking the Pacer US Cash Cows 100 Index. Over the past 5 years, PNNT returned -1.50%/yr vs 9.84%/yr for COWZ. At a 0.44 correlation, their price movements are largely independent.
Performance
PNNT vs. COWZ - Performance Comparison
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Returns By Period
In the year-to-date period, PNNT achieves a -38.40% return, which is significantly lower than COWZ's 3.89% return.
PNNT
- 1D
- -2.07%
- 1M
- -11.97%
- YTD
- -38.40%
- 6M
- -37.45%
- 1Y
- -41.13%
- 3Y*
- -3.49%
- 5Y*
- -1.50%
- 10Y*
- 5.28%
COWZ
- 1D
- -0.08%
- 1M
- -2.86%
- YTD
- 3.89%
- 6M
- 2.98%
- 1Y
- 16.84%
- 3Y*
- 12.32%
- 5Y*
- 9.84%
- 10Y*
- —
PNNT vs. COWZ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PNNT PennantPark Investment Corporation | -38.40% | -2.96% | 16.56% | 37.25% | -8.90% | 61.71% | -17.99% | 14.30% | 2.05% | -0.65% |
COWZ Pacer US Cash Cows 100 ETF | 3.89% | 8.98% | 10.64% | 14.73% | 0.19% | 42.57% | 11.65% | 23.41% | -10.05% | 20.22% |
Correlation
The correlation between PNNT and COWZ is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.37 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.42 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Dec 19, 2016 | 0.44 |
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Return for Risk
PNNT vs. COWZ — Risk / Return Rank
PNNT
COWZ
PNNT vs. COWZ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PennantPark Investment Corporation (PNNT) 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.
| PNNT | COWZ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.96 | ||
| Sortino ratioReturn per unit of downside risk | -4.32 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 1.26 | -0.53 |
| Calmar ratioReturn relative to maximum drawdown | -0.87 | 2.84 | -3.71 |
| Martin ratioReturn relative to average drawdown | -1.87 | 8.27 | -10.14 |
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Drawdowns
PNNT vs. COWZ - Drawdown Comparison
The maximum PNNT drawdown since its inception was -82.16%, which is greater than COWZ's maximum drawdown of -38.63%. Use the drawdown chart below to compare losses from any high point for PNNT and COWZ.
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Drawdown Indicators
| PNNT | COWZ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -82.16% | -38.63% | -43.53% |
Max Drawdown (1Y)Largest decline over 1 year | -47.57% | -5.95% | -41.62% |
Max Drawdown (3Y)Largest decline over 3 years | -47.57% | -22.00% | -25.57% |
Max Drawdown (5Y)Largest decline over 5 years | -47.57% | -22.00% | -25.57% |
Max Drawdown (10Y)Largest decline over 10 years | -69.14% | — | — |
Current DrawdownCurrent decline from peak | -47.57% | -4.84% | -42.73% |
Average DrawdownAverage peak-to-trough decline | -15.34% | -4.80% | -10.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.07% | 2.04% | +20.03% |
Volatility
PNNT vs. COWZ - Volatility Comparison
PennantPark Investment Corporation (PNNT) has a higher volatility of 10.24% compared to Pacer US Cash Cows 100 ETF (COWZ) at 3.69%. This indicates that PNNT's price experiences larger fluctuations and is considered to be riskier than COWZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PNNT | COWZ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.24% | 3.69% | +6.55% |
Volatility (6M)Calculated over the trailing 6-month period | 24.47% | 7.53% | +16.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 27.96% | 11.39% | +16.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.73% | 17.64% | +6.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.85% | 19.89% | +12.96% |
Dividends
PNNT vs. COWZ - Dividend Comparison
PNNT's dividend yield for the trailing twelve months is around 29.00%, more than COWZ's 1.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COWZ Pacer US Cash Cows 100 ETF | 1.99% | 2.19% | 1.82% | 1.92% | 1.96% | 1.48% | 2.54% | 1.96% | 1.67% | 1.95% | 0.13% | 0.00% |
PNNT PennantPark Investment Corporation | 29.00% | 16.11% | 12.85% | 11.65% | 10.43% | 6.93% | 11.71% | 11.03% | 11.30% | 10.42% | 14.62% | 18.12% |
Frequently Asked Questions
PNNT and COWZ have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PNNT has higher volatility (10.24%) compared to COWZ (3.69%). In terms of maximum drawdown, PNNT dropped -82.16% vs COWZ's -38.63%.
COWZ currently has the higher Sharpe Ratio (1.49 vs -1.48), 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.
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