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Designed to provide broad exposure to the Large Cap Value segment of the US equity market, the Pacer US Cash Cows 100 ETF (COWZ) is a passively managed exchange traded fund launched on December 16, 2016.
The Pacer US Cash Cows 100 ETF (NASDAQ:COWZ) just got a real-time stress test of its free-cash-flow screen, and the energy sleeve did exactly what it was built to do.
Investors holding Vanguard S&P 500 ETF (NYSEARCA:VOO) own a slice of the cheapest, largest cap-weighted index fund on the market, and it has been doing its job.
The Pacer US Cash Cows 100 ETF (CBOE: COWZ) is having a solid 2026, up 6.4% year to date and 14.81% over the past year through July 6. Yet a fund built expressly to own America's biggest cash machines holds zero shares of Apple, arguably the most famous cash generator on the planet. That contradiction is... Up 14.81% in a Year, COWZ Proves You Don't Need Apple
The Pacer US Cash Cows 100 ETF is rated a cautious Buy, positioned for a regime shift favoring cash flow over AI-driven momentum. COWZ offers a portfolio FCF yield of ~6.37%, more than double the Russell 1000, at a 31% lower P/E, with sector diversification led by Healthcare and Energy. The ETF's defensive profile is most effective in moderate drawdowns, providing a stabilizing anchor as AI multiples stretch and stagflation risks persist.
Value stocks with real dividend income have kept pace with, and in one case beaten, a market that growth and AI names dominated for three straight years.
Pacer US Cash Cows 100 ETF (NYSEARCA:COWZ) owns the 100 Russell 1000 names that generate the most free cash flow relative to market value.
Smart beta had a confusing first half of 2026, as momentum cooled after a strong 2025, low-volatility lagged a market that kept grinding higher, and dividend growth funds got squeezed by another leg up in yields.