COWZ vs SPY
Pacer US Cash Cows 100 ETF vs State Street SPDR S&P 500 ETF Trust
Which is better, COWZ or SPY?
Mid Cap Value against Large Cap Blend.
SPY has a lower expense ratio. COWZ led over 1Y, SPY over 3Y, 5Y and the full window. COWZ is less concentrated, with 21.4% of the fund in its ten largest positions against 37.8%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | COWZ | SPY |
|---|---|---|
| Expense Ratio | 0.49% | 0.09%Best |
| AUM | $20.0B | $804.7B |
| Dividend Yield | 1.72% | 0.98% |
| Holdings | 102 | 505 |
| YTD Return | +16.74%Best | +11.97% |
| 1Y Return | +23.85%Best | +16.40% |
| 3Y Return (annualized) | +13.37% | +21.10%Best |
| 5Y Return (annualized) | +11.79% | +12.88%Best |
| Volatility (annualized) | 18.6% | 15.6%Best |
| Max Drawdown | -38.6% | -34.1%Best |
| $10,000 over 5 years | $17,459 | $18,327Best |
| Top 10 Weight | 21.4%Best | 37.8% |
| Fund Family | Pacer ETFs | State Street Investment Management |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Dec 16, 2016 | Jan 22, 1993 |
Volatility and max drawdown are measured over the window both funds cover: Dec 19, 2016 to Sep 14, 2026 (9.7 years).
COWZ vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 9.7 years both funds cover.
COWZ vs SPY Performance
Pacer US Cash Cows 100 ETF (COWZ) is an ETF from Pacer ETFs and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year COWZ returned +23.85% while SPY returned +16.40%. Year to date, COWZ is up 16.74% versus a gain of 11.97% for SPY.
Over three years, COWZ compounded at +13.37% per year against +21.10% for SPY; over five years the annualized figures are +11.79% and +12.88% respectively. Across the full 10-year window we track, SPY has the edge at +14.17% annualized vs +13.27%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
COWZ has been the more volatile fund, with annualized monthly volatility of 18.6% compared with 15.6% 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 -34.1% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
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 0.49% per year while SPY charges 0.09%. On a $10,000 position that is $49 vs $9 annually, a gap of $40 per year that compounds over a long holding period. On income, COWZ currently yields 1.72% against 0.98% for SPY.
Holdings Overlap
92.2% of COWZ's money is in holdings SPY also owns. 7.9% of SPY's money is in holdings COWZ also owns.
Most of COWZ is already inside SPY. Owning both mostly buys the same companies twice.
88 positions in common, counted across the 101 positions we hold weights for in COWZ and 504 in SPY, against full books of 102 and 505.
What only one of them owns
Our book lists 409 positions for SPY that do not appear in our book for COWZ (91.4% of the fund), and 12 for COWZ that do not appear in SPY (7.3%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in COWZ | Weight in SPY | Difference |
|---|---|---|---|
| CRMSalesforce Inc Crm Us Equity | 2.46% | 0.32% | 2.14% |
| NEMNewmont Corp Common | 2.25% | 0.20% | 2.05% |
| MPCMarathon Petroleum Corp | 2.26% | 0.17% | 2.09% |
| BKNGBooking Holdings, Inc. | 2.13% | 0.23% | 1.90% |
| INTUIntuit, Inc. | 2.15% | 0.15% | 2.00% |
| TBBAt&t Inc | 2.02% | 0.27% | 1.75% |
| GILDGilead Sciences | 2.01% | 0.28% | 1.73% |
| BMYBristol-Myers Squibb Co. | 2.07% | 0.21% | 1.86% |
| VZVerizon Communic | 1.96% | 0.32% | 1.64% |
| ADBEAdobe Systems | 2.07% | 0.18% | 1.89% |
92.2% of COWZ is already inside SPY.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, COWZ or SPY?
COWZ has an expense ratio of 0.49% while SPY charges 0.09%. SPY is the cheaper option, by $40 a year on a $10,000 investment.
Which performed better, COWZ or SPY?
Over the past year COWZ returned +23.85% vs +16.40% for SPY, so COWZ leads on 1-year performance. Over the longest common window we track (10 years), COWZ annualized +13.27% vs +14.17% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, COWZ or SPY?
COWZ has been the more volatile fund at 18.6% annualized versus 15.6% for SPY. Worst drawdown: COWZ -38.6% vs SPY -34.1%.
Should I hold both COWZ and SPY?
COWZ and SPY have a monthly-return correlation of 0.83, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between COWZ and SPY?
92.2% of COWZ's money is in holdings SPY also owns. 7.9% of SPY's is in holdings COWZ also owns. They hold 88 positions in common, counted across the 101 positions we hold weights for in COWZ and 504 in SPY.
Which pays a higher dividend, COWZ or SPY?
COWZ yields 1.72% while SPY yields 0.98%, so COWZ currently pays the higher dividend yield.
Is SPY better than COWZ?
SPY has a lower expense ratio. COWZ led over 1Y, SPY over 3Y, 5Y and the full window. COWZ is less concentrated, with 21.4% of the fund in its ten largest positions against 37.8%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.