COWZ ETF Up 14.8% in a Year With Zero Apple Exposure
The Pacer US Cash Cows 100 ETF is beating the market without a single Apple share, proving cash-flow investing works on its own terms.
COWZ is quietly putting up numbers that most actively managed funds would kill for. The Pacer US Cash Cows 100 ETF has climbed 14.81% over the past year through July 6 and is already up 6.4% in 2026 alone. Not bad for a fund that skips the most talked-about stock on Wall Street.
Here's the kicker: COWZ holds zero Apple shares. That's a deliberate choice, not an oversight. The fund is built around free cash flow yield — it wants companies that generate serious cash *relative to their price*. Apple is a legendary cash machine in absolute terms, but its valuation means the yield on that cash flow doesn't clear the bar. COWZ doesn't care about brand names. It cares about the math.
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That philosophy is exactly what makes this ETF worth watching right now. When mega-cap tech gets wobbly — and it will — investors need alternatives that aren't just a different wrapper on the same five names. COWZ offers genuine diversification away from the Magnificent Seven without forcing you to sacrifice returns. The last 12 months are proof of concept.
For retail traders, the tradeable angle is straightforward. If you're overweight big tech and nervous about concentration risk, COWZ gives you a rules-based, cash-flow-focused hedge that has already demonstrated it can run without Apple, Nvidia, or any of the usual suspects carrying it. That's a rare thing in today's ETF landscape.
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