POWA vs. COWG

Last updated Apr 1, 2026

Compare and contrast key facts about Invesco Bloomberg Pricing Power ETF (POWA) and Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG).

POWA and COWG are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. POWA is a passively managed fund by Invesco that tracks the performance of the Bloomberg Pricing Power Index. It was launched on Dec 15, 2006. COWG is a passively managed fund by Pacer that tracks the performance of the Pacer US Large Cap Cash Cows Growth Leaders Index. It was launched on Dec 21, 2022. Both POWA and COWG are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

POWA vs. COWG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Bloomberg Pricing Power ETF (POWA) and Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG). The values are adjusted to include any dividend payments, if applicable.

POWA vs. COWG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
POWA Invesco Bloomberg Pricing Power ETF	-4.22%	11.71%	13.18%	10.58%	0.21%
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	-4.15%	10.24%	34.99%	20.69%	-0.68%

Returns By Period

The year-to-date returns for both investments are quite close, with POWA having a -4.22% return and COWG slightly higher at -4.15%.

POWA

• 1D: 1.63%
• 1M: -7.55%
• YTD: -4.22%
• 6M: -3.94%
• 1Y: 5.85%
• 3Y*: 9.79%
• 5Y*: 8.23%
• 10Y*: 10.28%

COWG

• 1D: 2.89%
• 1M: -4.39%
• YTD: -4.15%
• 6M: -6.87%
• 1Y: 9.94%
• 3Y*: 18.40%
• 5Y*: —
• 10Y*: —

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

POWA vs. COWG - Expense Ratio Comparison

POWA has a 0.40% expense ratio, which is lower than COWG's 0.49% expense ratio.

COWG

Pacer US Large Cap Cash Cows Growth Leaders ETF

POWA

Invesco Bloomberg Pricing Power ETF

Return for Risk

POWA vs. COWG — Risk / Return Rank

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

POWA

POWA Risk / Return Rank: 25
POWA Sharpe Ratio Rank: 22
POWA Sortino Ratio Rank: 23
POWA Omega Ratio Rank: 22
POWA Calmar Ratio Rank: 27
POWA Martin Ratio Rank: 30

COWG

COWG Risk / Return Rank: 29
COWG Sharpe Ratio Rank: 27
COWG Sortino Ratio Rank: 28
COWG Omega Ratio Rank: 28
COWG Calmar Ratio Rank: 32
COWG Martin Ratio Rank: 30

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.

POWA vs. COWG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Bloomberg Pricing Power ETF (POWA) 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.

	POWA	COWG	Difference
Sharpe ratio Return per unit of total volatility	0.39	0.44	-0.06
Sortino ratio Return per unit of downside risk	0.67	0.78	-0.12
Omega ratio Gain probability vs. loss probability	1.09	1.11	-0.02
Calmar ratio Return relative to maximum drawdown	0.64	0.75	-0.10
Martin ratio Return relative to average drawdown	2.57	2.44	+0.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

POWA vs. COWG - Sharpe Ratio Comparison

The current POWA Sharpe Ratio is 0.39, which is comparable to the COWG Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of POWA and COWG, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	POWA	COWG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.39	0.44	-0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.60	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.54	0.93	-0.39

Correlation

The correlation between POWA and COWG is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

POWA vs. COWG - Dividend Comparison

POWA's dividend yield for the trailing twelve months is around 0.98%, more than COWG's 0.35% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
POWA Invesco Bloomberg Pricing Power ETF	0.98%	0.94%	0.79%	1.60%	1.48%	1.06%	1.34%	1.16%	1.39%	1.63%	2.18%	3.31%
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	0.35%	0.32%	0.40%	0.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

POWA vs. COWG - Drawdown Comparison

The maximum POWA drawdown since its inception was -47.91%, which is greater than COWG's maximum drawdown of -23.60%. Use the drawdown chart below to compare losses from any high point for POWA and COWG.

Drawdown Indicators

	POWA	COWG	Difference
Max Drawdown Largest peak-to-trough decline	-47.91%	-23.60%	-24.31%
Max Drawdown (1Y) Largest decline over 1 year	-10.77%	-12.96%	+2.19%
Max Drawdown (5Y) Largest decline over 5 years	-17.75%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-36.53%	—	—
Current Drawdown Current decline from peak	-8.29%	-8.21%	-0.08%
Average Drawdown Average peak-to-trough decline	-6.23%	-3.35%	-2.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.70%	3.96%	-1.26%

Volatility

POWA vs. COWG - Volatility Comparison

The current volatility for Invesco Bloomberg Pricing Power ETF (POWA) is 4.03%, while Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG) has a volatility of 6.09%. This indicates that POWA 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

	POWA	COWG	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.03%	6.09%	-2.06%
Volatility (6M) Calculated over the trailing 6-month period	8.77%	13.24%	-4.47%
Volatility (1Y) Calculated over the trailing 1-year period	15.26%	22.50%	-7.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.84%	19.34%	-5.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.01%	19.34%	-3.33%