PSMD vs. COWZ

Last updated Jun 24, 2026

PSMD (Pacer Swan SOS Moderate (December) ETF) and COWZ (Pacer US Cash Cows 100 ETF) are both exchange-traded funds - PSMD is a Large Cap Blend Equities fund actively managed by Pacer, while COWZ is a Mid Cap Value Equities fund tracking the Pacer US Cash Cows 100 Index. PSMD is actively managed, while COWZ is passively managed. Over the past 5 years, PSMD returned 8.98%/yr vs 9.90%/yr for COWZ. A 0.67 correlation means they provide meaningful diversification when combined. PSMD charges 0.75%/yr vs 0.49%/yr for COWZ.

Performance

PSMD vs. COWZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Pacer Swan SOS Moderate (December) ETF (PSMD) and Pacer US Cash Cows 100 ETF (COWZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PSMD achieves a 4.91% return, which is significantly higher than COWZ's 3.27% return.

PSMD

• 1D: -0.51%
• 1M: -0.09%
• YTD: 4.91%
• 6M: 5.01%
• 1Y: 13.69%
• 3Y*: 12.16%
• 5Y*: 8.98%
• 10Y*: —

COWZ

• 1D: 0.59%
• 1M: -3.72%
• YTD: 3.27%
• 6M: 2.69%
• 1Y: 15.76%
• 3Y*: 12.38%
• 5Y*: 9.90%
• 10Y*: —

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

PSMD vs. COWZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
PSMD Pacer Swan SOS Moderate (December) ETF	4.91%	11.45%	12.78%	17.46%	-4.47%	11.23%	0.55%
COWZ Pacer US Cash Cows 100 ETF	3.27%	8.98%	10.64%	14.73%	0.19%	42.57%	1.82%

Correlation

The correlation between PSMD and COWZ is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (All Time) Calculated using the full available price history since Dec 23, 2020	0.67

The correlation between PSMD and COWZ shifts across timeframes, from 0.49 (1 year) to 0.68 (5 years), reflecting how their relationship changes across market environments.

PSMD vs. COWZ - Sectors Allocation Comparison

Sectors	PSMD	COWZ
Technology	34.1%	16.0%
Financial Services	12.6%	-
Communication Services	11.2%	10.4%
Consumer Cyclical	10.6%	11.7%
Healthcare	9.4%	21.8%
Industrials	8.0%	8.4%
Consumer Defensive	5.0%	10.9%
Energy	3.2%	16.9%
Utilities	2.3%	-
Real Estate	1.9%	-
Basic Materials	1.8%	3.7%

Return for Risk

PSMD vs. COWZ — Risk / Return Rank

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

PSMD

PSMD Risk / Return Rank: 81
PSMD Sharpe Ratio Rank: 81
PSMD Sortino Ratio Rank: 86
PSMD Omega Ratio Rank: 87
PSMD Calmar Ratio Rank: 67
PSMD Martin Ratio Rank: 84

COWZ

COWZ Risk / Return Rank: 45
COWZ Sharpe Ratio Rank: 41
COWZ Sortino Ratio Rank: 42
COWZ Omega Ratio Rank: 39
COWZ Calmar Ratio Rank: 56
COWZ Martin Ratio Rank: 48

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.

PSMD vs. COWZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Pacer Swan SOS Moderate (December) ETF (PSMD) 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.

	PSMD	COWZ	Difference
Sharpe ratio: Return per unit of total volatility	2.40	1.39	+1.01
Sortino ratio: Return per unit of downside risk	3.55	2.05	+1.49
Omega ratio: Gain probability vs. loss probability	1.49	1.25	+0.25
Calmar ratio: Return relative to maximum drawdown	3.11	2.66	+0.45
Martin ratio: Return relative to average drawdown	16.22	7.92	+8.30

PSMD vs. COWZ - Sharpe Ratio Comparison

The current PSMD Sharpe Ratio is 2.40, which is higher than the COWZ Sharpe Ratio of 1.39. The chart below compares the historical Sharpe Ratios of PSMD and COWZ, 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

PSMD vs. COWZ - Drawdown Comparison

The maximum PSMD drawdown since its inception was -11.96%, smaller than the maximum COWZ drawdown of -38.63%. Use the drawdown chart below to compare losses from any high point for PSMD and COWZ.

Drawdown Indicators

	PSMD	COWZ	Difference
Max Drawdown Largest peak-to-trough decline	-11.96%	-38.63%	+26.67%
Max Drawdown (1Y) Largest decline over 1 year	-4.42%	-5.95%	+1.53%
Max Drawdown (3Y) Largest decline over 3 years	-10.70%	-22.00%	+11.30%
Max Drawdown (5Y) Largest decline over 5 years	-11.96%	-22.00%	+10.04%
Current Drawdown Current decline from peak	-0.73%	-5.40%	+4.67%
Average Drawdown Average peak-to-trough decline	-1.65%	-4.80%	+3.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	2.00%	-1.15%

Volatility

PSMD vs. COWZ - Volatility Comparison

The current volatility for Pacer Swan SOS Moderate (December) ETF (PSMD) is 1.93%, while Pacer US Cash Cows 100 ETF (COWZ) has a volatility of 3.97%. This indicates that PSMD experiences smaller price fluctuations and is considered to be less risky than COWZ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PSMD	COWZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.93%	3.97%	-2.04%
Volatility (6M) Calculated over the trailing 6-month period	4.78%	7.53%	-2.75%
Volatility (1Y) Calculated over the trailing 1-year period	5.75%	11.38%	-5.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.63%	17.64%	-9.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.47%	19.90%	-11.43%

PSMD vs. COWZ - Expense Ratio Comparison

PSMD has a 0.75% expense ratio, which is higher than COWZ's 0.49% expense ratio.

Dividends

PSMD vs. COWZ - Dividend Comparison

PSMD has not paid dividends to shareholders, while COWZ's dividend yield for the trailing twelve months is around 2.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
COWZ Pacer US Cash Cows 100 ETF	2.00%	2.19%	1.82%	1.92%	1.96%	1.48%	2.54%	1.96%	1.67%	1.95%	0.13%
PSMD Pacer Swan SOS Moderate (December) ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.47%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PSMD and COWZ in my portfolio?

PSMD and COWZ have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PSMD or COWZ?

COWZ has higher volatility (3.97%) compared to PSMD (1.93%). In terms of maximum drawdown, PSMD dropped -11.96% vs COWZ's -38.63%.

Which ETF is better, PSMD or COWZ?

On 5-year performance, COWZ leads with 9.90% vs 8.98% for PSMD. On fees, COWZ is cheaper at 0.49% per year. On volatility, PSMD has been the lower-risk option at 1.93%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PSMD or COWZ?

Over the 5-year period, COWZ has performed better with a 9.90% return vs 8.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PSMD or COWZ?

COWZ is cheaper with a 0.49% expense ratio, compared with 0.75% for PSMD.

Which ETF pays a higher dividend yield, PSMD or COWZ?

COWZ has the higher dividend yield at 2.00%, compared with 0.00% for PSMD.

What is the main difference between PSMD and COWZ?

PSMD is categorized as Large Cap Blend Equities, while COWZ is Mid Cap Value Equities. Their fees differ too: 0.75% for PSMD and 0.49% for COWZ.

Which has better risk-adjusted returns?

PSMD currently has the higher Sharpe Ratio (2.40 vs 1.39), 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.