SPAX vs. COWZ
Compare and contrast key facts about Robinson Alternative Yield Pre-merger SPAC ETF (SPAX) and Pacer US Cash Cows 100 ETF (COWZ).
SPAX and COWZ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SPAX is an actively managed fund by Toroso Investments. It was launched on Jun 22, 2021. COWZ is a passively managed fund by Pacer Advisors that tracks the performance of the Pacer US Cash Cows 100 Index. It was launched on Dec 16, 2016.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPAX or COWZ.
Key characteristics
| SPAX | COWZ | |
|---|---|---|
| YTD Return | 0.94% | 5.82% |
| 1Y Return | 4.12% | 25.09% |
| Sharpe Ratio | 0.69 | 1.76 |
| Daily Std Dev | 5.91% | 13.50% |
| Max Drawdown | -8.88% | -38.63% |
| Current Drawdown | -0.43% | -5.73% |
Correlation
The correlation between SPAX and COWZ is 0.07, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
SPAX vs. COWZ - Performance Comparison
In the year-to-date period, SPAX achieves a 0.94% return, which is significantly lower than COWZ's 5.82% return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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SPAX vs. COWZ - Expense Ratio Comparison
SPAX has a 0.85% expense ratio, which is higher than COWZ's 0.49% expense ratio.
Risk-Adjusted Performance
SPAX vs. COWZ - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Robinson Alternative Yield Pre-merger SPAC ETF (SPAX) 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.
Dividends
SPAX vs. COWZ - Dividend Comparison
SPAX's dividend yield for the trailing twelve months is around 8.90%, more than COWZ's 1.89% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|
SPAX Robinson Alternative Yield Pre-merger SPAC ETF | 8.90% | 7.54% | 0.97% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
COWZ Pacer US Cash Cows 100 ETF | 1.89% | 1.92% | 1.96% | 1.48% | 2.54% | 1.96% | 1.67% | 1.95% | 0.13% |
Drawdowns
SPAX vs. COWZ - Drawdown Comparison
The maximum SPAX drawdown since its inception was -8.88%, smaller than the maximum COWZ drawdown of -38.63%. Use the drawdown chart below to compare losses from any high point for SPAX and COWZ. For additional features, visit the drawdowns tool.
Volatility
SPAX vs. COWZ - Volatility Comparison
The current volatility for Robinson Alternative Yield Pre-merger SPAC ETF (SPAX) is 2.39%, while Pacer US Cash Cows 100 ETF (COWZ) has a volatility of 3.82%. This indicates that SPAX 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.