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Sunday, August 23, 2026The Morning Brief →Sign in
COWGPacer

Pacer US Large Cap Cash Cows Growth Leaders ETF

$39.76+0.73% today
334052-WK

The index uses a rules-based methodology that seeks to provide exposure to large-capitalization U.S. companies with above average free cash flow margins. Under normal circumstances, the fund will seek to invest at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in securities of large-capitalization companies ("large cap") that are principally traded in the United States. It is non-diversified.

Price & daily flows
38.636.534.4Tue Aug 18 · Pacer launches MILK, first Cash Cows bond ETF39.76DAILY NET FLOWAug 22Dec 19Apr 21Aug 21

SOURCE: MARKET TAPE & DAILY CREATION/REDEMPTION RECORDS · 1Y SHOWN

The desk’s read

Flows are quiet — the past month netted out near zero, while the price has returned +12.3% so far this year. At 0.49% a year it is not the cheapest way in — ESMV runs the same ground at 0.18%.

COMPOSED FROM THE FUND’S OWN DAILY RECORDS · UPDATED WITH EACH REFRESH

$204Massets under management
0.49%expense ratio · $49 per $10,000 a year
net flow, trailing month
256Kavg daily volume, 30 days
101holdings · US-domiciled
2022listed December 20, 2022 · beta 1.22
Sector weights
Technology56.03%
Information Technology54.18%
Technology Services47.54%
Healthcare16.58%
Electronic Technology13.19%
Health Technology9.46%
Consumer Discretionary7.76%
Energy7.34%
Energy Minerals7.07%
Consumer Cyclical6.11%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Country weights
United States98.28%
Brazil2.73%
Switzerland1.72%
Netherlands0.53%
Australia0.51%
United Kingdom0.36%
Ireland0.34%
Other0.06%
PORTFOLIO COMPOSITION, LATEST DISCLOSURE
Performance
1 week-0.8%
1 month+5.9%
3 months+3.9%
6 months+13.7%
YTD+12.3%
1 year+12.8%
3 years

PRICE RETURN, DISTRIBUTIONS NOT REINVESTED

Net flows
1 week
1 month
3 months
YTD
1 year

CREATION/REDEMPTION DOLLARS, DAILY RECORDS

The risk read
20%realized volatility, 30 days (annualized)
18%realized volatility, 1 year
-11.0%deepest fall from a peak, 1 year
-1.2%where it sits vs. that peak today

VOLATILITY & DRAWDOWN FROM THE DAILY TAPE · CONCENTRATION FROM THE LATEST DISCLOSED BOOK

Options tape
14calls today
puts today
put/call ratio
175Kshares traded
The case against COWG

Due diligence cuts both ways. These funds sit on the same shelf and beat COWG on at least one dimension that matters — the fee, the asset base, or where the money is going.

FundFeeAssetsFlow, 1MThe case
ITOT iShares Core S&P Total U.S. Stock Market ETF0.03%$97.9B+$245M-46bp on fee · 479× the assets · +$245M in over the monthHead-to-head
IJH iShares Core S&P Mid-Cap ETF0.05%$128.4B+$547M-44bp on fee · 628× the assets · +$547M in over the monthHead-to-head
IUSG iShares Core S&P U.S. Growth ETF0.04%$33.8B+$668M-45bp on fee · 165× the assets · +$668M in over the monthHead-to-head
IUSV iShares Core S&P U.S. Value ETF0.04%$28.1B+$103M-45bp on fee · 137× the assets · +$103M in over the monthHead-to-head
IVV iShares Core S&P 500 ETF0.03%$900.9B−$14.2B-46bp on fee · 4407× the assetsHead-to-head
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InstrumentsHarvest substitutesTrade cost at $1MClient tearsheetStress this fund
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