ETF Evaluator:
Pacer US Cash Cows 100 ETF ()
Follow This ETF
(as of Aug 26)
Best Performing in Mid-Cap Value Over the Last Year
| 45.0% | VictoryShares Free Cash Flow ETF (VFLO) |
| 39.1% | Bushido Capital US SMID Cap Equity ETF (RNIN) |
| 38.8% | Bushido Capital US Equity ETF (SMRI) |
| 37.8% | ProShares Equities for Rising Rates ETF (EQRR) |
| 37.4% | Vanguard US Multifactor ETF (VFMF) |
Risk
Index
Risk
Index
ETF Details
Pacer US Cash Cows 100 ETF Overview
Pacer US Cash Cows 100 ETF (COWZ) is a passively managed U.S. Equity Mid-Cap Value exchange-traded fund (ETF). Pacer launched the ETF in 2016.
The investment seeks to track the total return performance, before fees and expenses, of the Pacer US Cash Cows Growth Index (the "index").
Under normal circumstances, at least 80% of the fund's total assets (exclusive of collateral held from securities lending) will be invested in the component securities of the index. The index uses an objective, rules-based methodology to provide exposure to large and mid-capitalization U.S. companies with high free cash flow yields. Companies with high free cash flow yields are commonly referred to as "cash cows".
About Pacer US Cash Cows 100 ETF (COWZ)
There are 2 members of the management team with an average tenure of 6.89 years: Bruce Kavanaugh (2016) and Danke Wang (2022). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: S&P Composite 1500 TR USD index with a weighting of 100% and Pacer US Cash Cows 100 TR USD index with a weighting of 100%. Pacer US Cash Cows 100 ETF has 103 securities in its portfolio. The top 10 holdings constitute 20.4% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
Pacer US Cash Cows 100 ETF is part of the Equity global asset class and is within the U.S. Equity ETF group. Pacer US Cash Cows 100 ETF has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.8% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Pacer US Cash Cows 100 ETF has 0.1% of the portfolio in cash.
Assets Under Management
The fund has $18 billion in total assets, which is above the $2 billion average for the Mid-Cap Value category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
COWZ Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Pacer US Cash Cows 100 ETF expense ratio is average compared to funds in the Mid-Cap Value category. Pacer US Cash Cows 100 ETF has an expense ratio of 0.49%, which is 5% higher than its category average, making the fund expense ratio grade a C. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Pacer US Cash Cows 100 ETF has a portfolio turnover rate of 86%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 72% for the Mid-Cap Value category.
Recently, in the month of July 2026, Pacer US Cash Cows 100 ETF returned 7.5%, which earned it a grade of A, as the Mid-Cap Value category had an average return of 3.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
Pacer US Cash Cows 100 ETF has a trailing yield of 1.85%, which is below the 2.05% category average.
The fund normally distributes its income quarterly.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Pacer US Cash Cows 100 ETF Grades
Year to date, the ETF has returned 11.7%, 3.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 22.6% over the past year (grade of C), 11.5% over the past three years (grade of D) and 11.0% per year over the past five years (grade of B).
For more ETF grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about Pacer US Cash Cows 100 ETF, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
COWZ Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| COWZ Return (NAV) | 7.5% | 5.5% | 22.6% | 11.5% | 11.0% | na |
| COWZ Return (Price) | 7.6% | 5.5% | 22.7% | 11.5% | 11.0% | na |
| NAV +/- Price Return | -0.036% | -0.022% | -0.063% | 0.005% | -0.012% | na |
| Mid-Cap Value Avg | 3.5% | 6.1% | 23.5% | 13.9% | 10.2% | 10.8% |
| COWZ Grade (NAV) | A | C | C | D | B | na |
| +/- Category (NAV) | 4.0% | -0.6% | -0.9% | -2.4% | 0.8% | na |
| COWZ Tax-Cost Ratio | na | na | 0.8% | 0.8% | 0.7% | na |
COWZ Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| COWZ Return (NAV) | 11.7% | 9.0% | 10.7% | 14.8% | 0.3% | 42.5% | 11.6% | 23.2% | -9.3% | 19.5% | na |
| COWZ Return (Price) | 11.7% | 9.0% | 10.6% | 14.7% | 0.2% | 42.6% | 11.7% | 23.4% | -10.0% | 20.2% | na |
| NAV +/- Price Ret | 0.004% | -0.001% | -0.004% | -0.002% | -0.203% | 0.002% | 0.014% | 0.9% | 7.9% | 3.4% | na |
| Mid-Cap Value Avg | 15.4% | 10.4% | 12.2% | 12.9% | -5.7% | 31.6% | 0.6% | 25.6% | -10.0% | 15.5% | 20.3% |
| COWZ Grade (NAV) | F | D | D | B | A | A | A | F | C | A | na |
| +/- Category | -3.7% | -1.4% | -1.6% | 1.9% | 5.9% | 10.9% | 11.0% | -2.4% | 0.7% | 4.1% | na |
| Risk Measures | |
| Beta: | 0.61 |
| R-Squared: | 36% |
| Standard Deviation: | 13.3% |
| Category Risk Index: | 0.93 |
| Category Risk Rating: | Below Average |
| Total Risk Index: | 1.08 |
| Total Risk Rating: | Average |
| Portfolio Characteristics | |
| Yield: | 1.9% |
| Total Assets: | $ 18,693 Mil |
| Share Class Assets: | $ 18,693 Mil |
| Turnover: | 86.0% |
| Expense Ratio: | 0.49% |
| Index Fund: | Yes |
| Index Tracked: | S&P Composite 1500 TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | |
| Income Distribution Frequency: | Quarterly |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 9.6 years | |||
| Average Tenure: 6.9 years | |||
| Managers (Year): Kavanaugh Bruce (2016), Wang Danke (2022) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 103 |
| % in Top 10 Holdings: | 20.4% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 99.8% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.1% |
| Cash: | 0.1% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | Pacer |
| Phone Number: | 800-617-0004 |
| Website: | www.paceretfs.com |
| Inception Date: | December 16, 2016 |
Expenses and Fees
| Expense Ratio (%): | 0.49% (Rating: Avg) |
| Category Average Expense Ratio (%): | 0.47% |
