COWZ vs SPY
Pacer US Cash Cows 100 ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. COWZ delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | COWZ | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.45% | 0.09% | |
| AUM | $19.8B | $821.1B | |
| Dividend Yield | 1.85% | 1.01% | |
| Holdings | 102 | 505 | |
| YTD Return | +19.16% | +12.68% | |
| 1Y Return | +27.03% | +21.82% | |
| 3Y Return (annualized) | +14.38% | +21.98% | |
| 5Y Return (annualized) | +11.85% | +12.89% | |
| Volatility (annualized) | 18.7% | 15.3% | |
| Max Drawdown | -38.6% | -56.5% | |
| Fund Family | Pacer ETFs | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Dec 16, 2016 | Jan 22, 1993 |
COWZ vs SPY Performance
Pacer US Cash Cows 100 ETF (COWZ) is a ETF from Pacer ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year COWZ returned +27.03% while SPY returned +21.82%. Year to date, COWZ is up 19.16% versus a gain of 12.68% for SPY.
Over three years, COWZ compounded at +14.38% per year against +21.98% for SPY; over five years the annualized figures are +11.85% and +12.89% respectively. Across the full 10-year window we track, COWZ has the edge at +13.61% annualized vs +8.81%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
COWZ has been the more volatile fund, with annualized monthly volatility of 18.7% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -38.6% for COWZ and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.83. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
COWZ charges 0.45% per year while SPY charges 0.09%. On a $10,000 position that is $45 vs $9 annually, a gap of $36 per year that compounds over a long holding period. On income, COWZ currently yields 1.85% against 1.01% for SPY.
Holdings Overlap
COWZ and SPY share 88 holdings out of 517 unique holdings combined, representing a 7.4% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, COWZ or SPY?
COWZ has an expense ratio of 0.45% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $36 per year of difference.
Which performed better, COWZ or SPY?
Over the past year COWZ returned +27.03% vs +21.82% for SPY, so COWZ leads on 1-year performance. Over the longest common window we track (10 years), COWZ annualized +13.61% vs +8.81% for SPY. Past performance does not guarantee future results.
Which is riskier, COWZ or SPY?
COWZ has been the more volatile fund at 18.7% annualized versus 15.3% for SPY. Worst drawdown: COWZ -38.6% vs SPY -56.5%.
Should I hold both COWZ and SPY?
COWZ and SPY have a monthly-return correlation of 0.83, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between COWZ and SPY?
COWZ and SPY share 88 common holdings with a 7.4% weight overlap. Combined, they hold 517 unique securities.
Which pays a higher dividend, COWZ or SPY?
COWZ yields 1.85% while SPY yields 1.01%, so COWZ currently pays the higher dividend yield.
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