VBLIX vs. COWZ

Last updated Jun 4, 2026

VBLIX (Vanguard Long-Term Bond Index Fund Institutional Plus) and COWZ (Pacer US Cash Cows 100 ETF) are both funds - VBLIX is a Total Bond Market fund managed by Vanguard, while COWZ is a Mid Cap Value Equities fund tracking the Pacer US Cash Cows 100 Index. Over the past 5 years, VBLIX returned -3.24%/yr vs 10.57%/yr for COWZ. At a correlation of -0.09, they often move in opposite directions. VBLIX charges 0.04%/yr vs 0.49%/yr for COWZ.

Performance

VBLIX vs. COWZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Long-Term Bond Index Fund Institutional Plus (VBLIX) 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, VBLIX achieves a 0.46% return, which is significantly lower than COWZ's 8.18% return.

VBLIX

• 1D: 0.19%
• 1M: 1.49%
• YTD: 0.46%
• 6M: -0.45%
• 1Y: 7.10%
• 3Y*: 1.99%
• 5Y*: -3.24%
• 10Y*: 0.84%

COWZ

• 1D: -0.34%
• 1M: 2.61%
• YTD: 8.18%
• 6M: 9.03%
• 1Y: 22.23%
• 3Y*: 14.44%
• 5Y*: 10.57%
• 10Y*: —

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

VBLIX vs. COWZ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VBLIX Vanguard Long-Term Bond Index Fund Institutional Plus	0.46%	6.61%	-4.11%	6.78%	-27.20%	-3.08%	16.29%	19.16%	-4.70%	10.90%
COWZ Pacer US Cash Cows 100 ETF	8.18%	8.98%	10.64%	14.73%	0.19%	42.57%	11.65%	23.41%	-10.05%	20.22%

Correlation

The correlation between VBLIX and COWZ is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.07
Correlation (All Time) Calculated using the full available price history since Dec 20, 2016	-0.09

The correlation between VBLIX and COWZ shifts across timeframes, from -0.09 (all time) to 0.18 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

VBLIX vs. COWZ — Risk / Return Rank

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

VBLIX

VBLIX Risk / Return Rank: 11
VBLIX Sharpe Ratio Rank: 11
VBLIX Sortino Ratio Rank: 11
VBLIX Omega Ratio Rank: 10
VBLIX Calmar Ratio Rank: 12
VBLIX Martin Ratio Rank: 10

COWZ

COWZ Risk / Return Rank: 65
COWZ Sharpe Ratio Rank: 59
COWZ Sortino Ratio Rank: 62
COWZ Omega Ratio Rank: 57
COWZ Calmar Ratio Rank: 83
COWZ Martin Ratio Rank: 65

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.

VBLIX vs. COWZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Long-Term Bond Index Fund Institutional Plus (VBLIX) 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.

	VBLIX	COWZ	Difference
Sharpe ratio: Return per unit of total volatility	0.86	2.02	-1.16
Sortino ratio: Return per unit of downside risk	1.27	2.98	-1.71
Omega ratio: Gain probability vs. loss probability	1.15	1.36	-0.21
Calmar ratio: Return relative to maximum drawdown	1.19	4.46	-3.27
Martin ratio: Return relative to average drawdown	3.09	12.19	-9.11
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VBLIX vs. COWZ - Sharpe Ratio Comparison

The current VBLIX Sharpe Ratio is 0.86, which is lower than the COWZ Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of VBLIX 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.

Sharpe Ratios by Period

	VBLIX	COWZ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.86	2.02	-1.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.25	0.60	-0.86
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.65	-0.42

Drawdowns

VBLIX vs. COWZ - Drawdown Comparison

The maximum VBLIX drawdown since its inception was -38.61%, roughly equal to the maximum COWZ drawdown of -38.63%. Use the drawdown chart below to compare losses from any high point for VBLIX and COWZ.

Drawdown Indicators

	VBLIX	COWZ	Difference
Max Drawdown Largest peak-to-trough decline	-38.61%	-38.63%	+0.02%
Max Drawdown (1Y) Largest decline over 1 year	-5.98%	-5.00%	-0.98%
Max Drawdown (3Y) Largest decline over 3 years	-14.90%	-22.00%	+7.10%
Max Drawdown (5Y) Largest decline over 5 years	-36.49%	-22.00%	-14.49%
Max Drawdown (10Y) Largest decline over 10 years	-38.61%	—	—
Current Drawdown Current decline from peak	-24.74%	-0.91%	-23.83%
Average Drawdown Average peak-to-trough decline	-11.51%	-4.81%	-6.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.30%	1.83%	+0.47%

Volatility

VBLIX vs. COWZ - Volatility Comparison

Vanguard Long-Term Bond Index Fund Institutional Plus (VBLIX) and Pacer US Cash Cows 100 ETF (COWZ) have volatilities of 2.68% and 2.56%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VBLIX	COWZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	2.56%	+0.12%
Volatility (6M) Calculated over the trailing 6-month period	5.82%	7.12%	-1.30%
Volatility (1Y) Calculated over the trailing 1-year period	8.32%	11.13%	-2.81%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.89%	17.63%	-4.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.58%	19.93%	-8.35%

VBLIX vs. COWZ - Expense Ratio Comparison

VBLIX has a 0.04% expense ratio, which is lower than COWZ's 0.49% expense ratio.

Dividends

VBLIX vs. COWZ - Dividend Comparison

VBLIX's dividend yield for the trailing twelve months is around 4.78%, 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%
VBLIX Vanguard Long-Term Bond Index Fund Institutional Plus	4.78%	4.67%	4.64%	3.42%	4.17%	2.89%	5.85%	3.63%	3.83%	3.71%	4.20%	5.00%

Frequently Asked Questions

Can I hold both VBLIX and COWZ in my portfolio?

VBLIX and COWZ have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VBLIX or COWZ?

VBLIX has higher volatility (2.68%) compared to COWZ (2.56%). In terms of maximum drawdown, VBLIX dropped -38.61% vs COWZ's -38.63%.

Which has better risk-adjusted returns?

COWZ currently has the higher Sharpe Ratio (2.02 vs 0.86), 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.