PSFO vs. COWG

Last updated Jun 26, 2026

PSFO (Pacer Swan SOS Flex (October) ETF) and COWG (Pacer US Large Cap Cash Cows Growth Leaders ETF) are both exchange-traded funds - PSFO is a Options Trading fund actively managed by Pacer, while COWG is a Mid Cap Growth Equities fund tracking the Pacer US Large Cap Cash Cows Growth Leaders Index. PSFO is actively managed, while COWG is passively managed. Over the past 3 years, PSFO returned 12.46%/yr vs 23.25%/yr for COWG. Their correlation of 0.81 suggests significant overlap in exposure. PSFO charges 0.60%/yr vs 0.49%/yr for COWG.

Performance

PSFO vs. COWG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Swan SOS Flex (October) ETF (PSFO) 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, PSFO achieves a 5.83% return, which is significantly lower than COWG's 8.99% return.

PSFO

• 1D: 0.04%
• 1M: -0.37%
• YTD: 5.83%
• 6M: 5.24%
• 1Y: 15.17%
• 3Y*: 12.46%
• 5Y*: —
• 10Y*: —

COWG

• 1D: 1.59%
• 1M: -0.87%
• YTD: 8.99%
• 6M: 7.02%
• 1Y: 11.35%
• 3Y*: 23.25%
• 5Y*: —
• 10Y*: —

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

PSFO vs. COWG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
PSFO Pacer Swan SOS Flex (October) ETF	5.83%	12.93%	10.78%	20.03%	-0.47%
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	8.99%	10.24%	34.99%	20.69%	-0.68%

Correlation

The correlation between PSFO and COWG is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (All Time) Calculated using the full available price history since Dec 22, 2022	0.81

The correlation between PSFO and COWG has been stable across timeframes, ranging from 0.79 to 0.81 - a consistent structural relationship.

Return for Risk

PSFO vs. COWG — Risk / Return Rank

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

PSFO

PSFO Risk / Return Rank: 75
PSFO Sharpe Ratio Rank: 74
PSFO Sortino Ratio Rank: 77
PSFO Omega Ratio Rank: 78
PSFO Calmar Ratio Rank: 67
PSFO Martin Ratio Rank: 81

COWG

COWG Risk / Return Rank: 22
COWG Sharpe Ratio Rank: 21
COWG Sortino Ratio Rank: 19
COWG Omega Ratio Rank: 19
COWG Calmar Ratio Rank: 24
COWG Martin Ratio Rank: 25

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.

PSFO vs. COWG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Swan SOS Flex (October) ETF (PSFO) 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.

	PSFO	COWG	Difference
Sharpe ratio: Return per unit of total volatility	2.08	0.67	+1.41
Sortino ratio: Return per unit of downside risk	3.02	1.00	+2.02
Omega ratio: Gain probability vs. loss probability	1.40	1.12	+0.28
Calmar ratio: Return relative to maximum drawdown	2.93	1.06	+1.87
Martin ratio: Return relative to average drawdown	13.96	3.05	+10.92

PSFO vs. COWG - Sharpe Ratio Comparison

The current PSFO Sharpe Ratio is 2.08, which is higher than the COWG Sharpe Ratio of 0.67. The chart below compares the historical Sharpe Ratios of PSFO 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

PSFO vs. COWG - Drawdown Comparison

The maximum PSFO drawdown since its inception was -12.09%, smaller than the maximum COWG drawdown of -23.60%. Use the drawdown chart below to compare losses from any high point for PSFO and COWG.

Drawdown Indicators

	PSFO	COWG	Difference
Max Drawdown Largest peak-to-trough decline	-12.09%	-23.60%	+11.51%
Max Drawdown (1Y) Largest decline over 1 year	-5.20%	-10.79%	+5.59%
Max Drawdown (3Y) Largest decline over 3 years	-12.09%	-23.60%	+11.51%
Current Drawdown Current decline from peak	-0.98%	-3.12%	+2.14%
Average Drawdown Average peak-to-trough decline	-1.74%	-3.27%	+1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	3.73%	-2.64%

Volatility

PSFO vs. COWG - Volatility Comparison

The current volatility for Pacer Swan SOS Flex (October) ETF (PSFO) is 2.00%, while Pacer US Large Cap Cash Cows Growth Leaders ETF (COWG) has a volatility of 7.19%. This indicates that PSFO 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

	PSFO	COWG	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.00%	7.19%	-5.19%
Volatility (6M) Calculated over the trailing 6-month period	5.66%	13.24%	-7.58%
Volatility (1Y) Calculated over the trailing 1-year period	7.32%	17.06%	-9.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.03%	19.27%	-9.24%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.03%	19.27%	-9.24%

PSFO vs. COWG - Expense Ratio Comparison

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

Dividends

PSFO vs. COWG - Dividend Comparison

PSFO has not paid dividends to shareholders, while COWG's dividend yield for the trailing twelve months is around 0.37%.

Position	TTM	2025	2024	2023
COWG Pacer US Large Cap Cash Cows Growth Leaders ETF	0.37%	0.32%	0.40%	0.47%
PSFO Pacer Swan SOS Flex (October) ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PSFO and COWG in my portfolio?

PSFO and COWG have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSFO or COWG?

COWG has higher volatility (7.19%) compared to PSFO (2.00%). In terms of maximum drawdown, PSFO dropped -12.09% vs COWG's -23.60%.

Which ETF is better, PSFO or COWG?

On 3-year performance, COWG leads with 23.25% vs 12.46% for PSFO. On fees, COWG is cheaper at 0.49% per year. On volatility, PSFO has been the lower-risk option at 2.00%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSFO or COWG?

Over the 3-year period, COWG has performed better with a 23.25% return vs 12.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSFO or COWG?

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

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

COWG has the higher dividend yield at 0.37%, compared with 0.00% for PSFO.

What is the main difference between PSFO and COWG?

PSFO is categorized as Options Trading, while COWG is Mid Cap Growth Equities. Their fees differ too: 0.60% for PSFO and 0.49% for COWG.

Which has better risk-adjusted returns?

PSFO currently has the higher Sharpe Ratio (2.08 vs 0.67), 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.