COWG vs SCHG: Grades, Fees and Holdings Compared

Pacer US Large Cap Cash Cows Growth Leaders ETF

COWGBNasdaq

Schwab U.S. Large-Cap Growth ETF

SCHGANYSE Arca

Overlap

14.9%by weight

Expense ratio

SCHG −0.45pt a year

COWG0.49%SCHG0.04%

Avg volume · 30D

SCHG 29.7×the volume

COWG256KSCHG7.59M

3Y return · a year

SCHG +0.1pt

COWG+24.7%SCHG+24.8%

COWG vs SCHG Performance

Oct 31, 2025 – Oct 30, 2026

+8.5%COWG+3.3%SCHG

Expense ratio: COWG 0.49%; SCHG 0.04%, better
Fund size: COWG $2.3B; SCHG $61.7B
1Y total return: COWG +8.5%, better; SCHG +3.3%
Yield (12M): COWG 0.75%, better; SCHG 0.40%
Holdings: COWG 101; SCHG 187
Avg volume (30D): COWG 256K sh; SCHG 7.59M sh, better
NAV per share: COWG $39.39; SCHG $34.31
52W range

ETF.net Grade

Pillar letters and Scores for COWG, SCHG, with each pillar’s weight
Pillar	COWG	SCHG
Cost30% weight	F18	A96Higher
Mission25% weight	A92	A92
Risk15% weight	B57Higher	C41
Tradability15% weight	B66	A87Higher
Holdings10% weight	B65Higher	D36
Durability5% weight	C50	A75Higher

Rank among US Growth Index funds

How we build Categories ›

Same Category. COWG and SCHG are both graded against the same 35 US Growth Index funds, so their Grades compare head to head.

US Growth Index⁠

Category · 35 funds

See all 35 ›

SCHG ranks 2nd and COWG 22nd of 35 funds in the US Growth Index Category.

Rank 1ASPYGState Street SPDR Portfolio S&P 500 Growth ETFScore 84
Rank 2AILCGiShares Morningstar Growth ETFScore 78
Rank 2AIMCGiShares Morningstar Mid-Cap Growth ETFScore 78
Rank 2ASCHGSchwab U.S. Large-Cap Growth ETFScore 78
Rank 5AVUGVanguard Morningstar Growth ETFScore 77
Rank 19BSNPGXtrackers S&P 500 Growth Scored & Screened ETFScore 59
Rank 22BCOWGPacer US Large Cap Cash Cows Growth Leaders ETFScore 55
Rank 23CRPGInvesco S&P 500 Pure Growth ETFScore 54

Our read on each fund

ETF.net Research

COWGBPacer US Large Cap Cash Cows Growth Leaders ETF

SCHGASchwab U.S. Large-Cap Growth ETF

In short

COWG Pacer aimed its Cash Cows free-cash-flow playbook at growth stocks: roughly 100 Russell 1000 names chosen on cash generation and profitability rather than revenue growth alone. Growth, with the cash burners screened out.

SCHG Schwab's growth workhorse: roughly 200 large-cap U.S. growth names for four basis points, one of the cheapest tickets in a crowded category. Running since 2009 and among the most heavily traded growth funds around.

Stated mandate

COWG The Fund seeks to track, before fees and expenses, the Pacer US Large Cap Cash Cows Growth Leaders Index. Its rules-based strategy selects growth companies from the Russell 1000 using free cash flow margin and related profitability screens.

SCHG SCHG seeks to track, before fees and expenses, the total return of the Dow Jones U.S. Large-Cap Growth Total Stock Market Index. It generally invests in stocks included in that index, which represents large-cap U.S. growth equities.

Why people hold it

COWG The screen is the product: Russell 1000 growth companies ranked on free cash flow margin and related profitability tests, and the fund has tracked that index closely.paceretfs.com
About 100 holdings, so the cash flow filter actually shows up in the portfolio instead of being diluted across a several-hundred-name growth benchmark.
Has reached multi-billion-dollar scale since its 2022 launch, trades at moderate volume, and pays on a quarterly schedule.

SCHG 0.04% a year against a growth-category median of 0.18%. Costs sit near the floor of the group.
Hews closely to the Dow Jones U.S. Large-Cap Growth Total Stock Market Index, one of the tighter index implementations in its peer group.
Live since 2009, a multi-billion-dollar fund, and one of the busier tickers in the growth aisle, so entering and exiting is usually cheap and easy.
The benchmark is carved out of a total-market growth index, not S&P 500 membership, so a stock does not need an index committee's nod to qualify.

Worth knowing

COWG The screen is not cheap: 0.49% a year against a growth-cohort median of 0.18%, and multiples of plain index rivals like VUG (0.03%) or SCHG (0.04%).
Short history. It launched in December 2022, so there is no full-cycle record behind the methodology yet.
A concentrated rules-based slice can look quite different from a standard large-cap growth index between rebalances, in either direction.

SCHG Growth-only by design. Value and dividend-heavy corners of the market sit outside the mandate, so the ride differs from a total-market fund.
Large-cap U.S. only, roughly 200 stocks. No mid-caps, no small-caps, nothing overseas.
VUG charges a hair less for a similar broad-growth mandate. A tiny gap, but it is there. Distributions here arrive quarterly.

Full COWG profile⁠

Full SCHG profile⁠

COWG vs SCHG Holdings

As of Oct 23, 2026

How COWG and SCHG differ

Overlap by weight

14.9%

Shared holdings make up 53.0% of COWG and 40.9% of SCHG.

Level by level

Holdings40 in both14.9%
Sector11 Sectors76.9%
Asset classEquity100%
Countryby domicile99.8%

Sector

Sector weights in COWG and SCHG, widest gap first
Sector	More in COWGMore in SCHG	COWG	SCHG
Technology	COWG +13.4 points	67.7%	54.3%
Communication	SCHG +7.3 points	6.4%	13.7%
Health Care	COWG +6.4 points	13.0%	6.6%
Consumer Discretionary	SCHG +5.5 points	4.6%	10.1%
Industrials	SCHG +5.1 points	1.9%	7.0%
Financials	SCHG +5.0 points	0.0%	5.0%
Energy	COWG +2.0 points	2.7%	0.7%
Consumer Staples	COWG +0.7 points	1.8%	1.1%
Materials	COWG +0.6 points	1.5%	0.9%
Real Estate	SCHG +0.3 points	0.0%	0.3%
Utilities	SCHG +0.1 points	0.3%	0.4%

Country, concentration and asset class

Country by domicile

Country weights in COWG and SCHG, widest gap first
Country	More in COWGMore in SCHG	COWG	SCHG
United States	COWG +0.2 points	100.0%	99.8%
China	SCHG +0.2 points	0.0%	0.2%

Concentration

Weight in the 10 largest Holdings

COWG29.8%
SCHG59.9%

Securities held

COWG100
SCHG187

Asset class

COWG: Equity
SCHG: Equity

Holdings

Only in COWG60
In both40
Only in SCHG147

Only in COWG

60 securities, 46.9% of COWG by weight

Unity Software Inc2.98%
Iridium Communications Inc2.20%
Manhattan Associates Inc1.91%
Dynatrace Inc1.85%
Halozyme Therapeutics Inc1.70%
F5 Inc1.69%
Expedia Group Inc1.32%
Dropbox Inc1.32%
Duolingo Inc1.23%
Match Group Inc1.13%
Maplebear Inc1.12%
Pinterest Inc1.11%
Paychex Inc1.08%
Zoom Communications Inc1.04%
VeriSign Inc1.03%
CCC Intelligent Solutions Holdings Inc1.02%
Salesforce Inc1.02%
Exelixis Inc1.01%
Texas Instruments Inc1.00%
Gen Digital Inc0.94%
Jazz Pharmaceuticals PLC0.93%
Dexcom Inc0.84%
Doximity Inc0.80%
Incyte Corp0.79%
GoDaddy Inc0.74%
Versant Media Group Inc0.74%
AbbVie Inc0.73%
Amgen Inc0.67%
Coca-Cola Co/The0.66%
Adobe Inc0.65%
Ascendis Pharma A/S0.62%
United Therapeutics Corp0.58%
Analog Devices Inc0.57%
Bentley Systems Inc0.56%
Philip Morris International Inc0.53%
Altria Group Inc0.51%
Gilead Sciences Inc0.47%
Southern Copper Corp0.46%
Viper Energy Inc0.45%
First Solar Inc0.44%
Antero Midstream Corp0.44%
Verisk Analytics Inc0.43%
Newmont Corp0.41%
DT Midstream Inc0.40%
Rambus Inc0.39%
ADT Inc0.36%
EQT Corp0.36%
Graco Inc0.35%
Clearway Energy Inc0.33%
Pegasystems Inc0.32%

Only in SCHG

147 securities, 59.1% of SCHG by weight

Microsoft9.21%
Amazon Com Inc5.60%
Alphabet Class A3.90%
Meta Platforms Class A3.74%
Alphabet Class C3.14%
Tesla Inc3.09%
Eli Lilly2.98%
Advanced Micro Devices2.51%
Visa Class A1.90%
Mastercard Class A1.40%
Costco Wholesale Corp1.20%
UnitedHealth Group1.00%
Applied Material Inc0.91%
Ge Aerospace0.88%
Caterpillar Inc0.81%
Thermo Fisher Scientific0.71%
Linde PLC0.63%
Walt Disney0.52%
BlackRock0.46%
Deere0.45%
Seagate Technology Holdings PLC0.43%
Eaton PLC0.41%
S&P Global0.38%
Boeing0.37%
Uber Technologies0.36%
Parker-Hannifin0.32%
Snowflake0.31%
Mckesson Corp0.31%
Phillips0.30%
Equinix Reit0.28%
Cloudflare Class A0.27%
Quanta Services Inc0.26%
Trane Technologies PLC0.26%
Vertiv Holdings Class A0.26%
Constellation Energy Corp0.24%
Marriott International Class A0.23%
Howmet Aerospace0.22%
Lumentum Holdings0.22%
Hilton Worldwide Holdings0.22%
Regeneron Pharmaceuticals0.22%
Royal Caribbean Group0.21%
Sherwin Williams0.21%
United Rentals0.20%
Moodys0.20%
Robinhood Markets Class A0.20%
Doordash Class A0.18%
Targa Resources0.18%
Kkr and Co Inc0.18%
Te Connectivity PLC0.18%
Transdigm Group0.18%

Weight gaps

All 40 Holdings in both funds, largest gap first.

Holding weights in COWG and SCHG, widest gap first
Holding	More in COWGMore in SCHG	COWG	SCHG
NVIDIA CorpNVDA	SCHG +11.20 points	0.90%	12.10%
Apple IncAAPL	SCHG +11.01 points	0.91%	11.92%
Okta IncOKTA	COWG +3.58 points	3.68%	0.10%
Broadcom IncAVGO	SCHG +3.48 points	0.72%	4.20%
Datadog IncDDOG	COWG +3.16 points	3.40%	0.24%
Fortinet IncFTNT	COWG +2.82 points	3.05%	0.23%
Crowdstrike Holdings IncCRWD	COWG +2.66 points	3.38%	0.72%
Credo Technology Group Holding LtdCRDO	COWG +2.54 points	2.62%	0.08%
Paycom Software IncPAYC	COWG +2.48 points	2.51%	0.03%
Palo Alto Networks IncPANW	COWG +2.30 points	3.14%	0.84%
Nutanix IncNTNX	COWG +2.02 points	2.07%	0.05%
Sandisk CorpSNDK	COWG +1.85 points	2.38%	0.53%
Veeva Systems IncVEEV	COWG +1.71 points	1.84%	0.13%
Docusign IncDOCU	COWG +1.61 points	1.65%	0.04%
Workday IncWDAY	COWG +1.33 points	1.44%	0.11%
ServiceNow IncNOW	COWG +0.97 points	1.28%	0.31%
Western Digital CorpWDC	COWG +0.95 points	1.34%	0.39%
Airbnb IncABNB	COWG +0.91 points	1.10%	0.19%
Arista Networks IncANET	COWG +0.79 points	1.31%	0.52%
Roper Technologies IncROP	COWG +0.73 points	0.85%	0.12%
Diamondback Energy IncFANG	COWG +0.65 points	0.76%	0.11%
PTC IncPTC	COWG +0.60 points	0.66%	0.06%
Tyler Technologies IncTYL	COWG +0.53 points	0.57%	0.04%
Cadence Design Systems IncCDNS	COWG +0.52 points	0.78%	0.26%
Autodesk IncADSK	COWG +0.49 points	0.63%	0.14%
Reddit IncRDDT	COWG +0.45 points	0.50%	0.05%
Synopsys IncSNPS	COWG +0.40 points	0.66%	0.26%
ResMed IncRMD	COWG +0.35 points	0.45%	0.10%
Booking Holdings IncBKNG	COWG +0.34 points	0.65%	0.31%
TKO Group Holdings IncTKO	COWG +0.28 points	0.31%	0.03%
Vertex Pharmaceuticals IncVRTX	COWG +0.25 points	0.62%	0.37%
Fair Isaac CorpFICO	COWG +0.24 points	0.28%	0.04%
IDEXX Laboratories IncIDXX	COWG +0.24 points	0.36%	0.12%
Micron Technology IncMU	SCHG +0.15 points	2.71%	2.86%
GE Vernova IncGEV	SCHG +0.12 points	0.52%	0.64%
Intuit IncINTU	COWG +0.12 points	0.37%	0.25%
Palantir Technologies IncPLTR	COWG +0.11 points	1.34%	1.23%
Intuitive Surgical IncISRG	SCHG +0.09 points	0.34%	0.43%
Kla CorpKLAC	COWG +0.07 points	0.66%	0.59%
AppLovin CorpAPP	COWG +0.04 points	0.23%	0.19%

All 102 COWG holdings⁠All 189 SCHG holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

COWG vs SCHG Cost

Overpaying COWG vs SCHG

$8,943

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

COWG 0.49%
$9,792
SCHG 0.04%
$849

Amount$10,000

Years30 years

Cost over time

COWG 0.49%
SCHG 0.04%
Overpaying

Year by year

Year	COWG	SCHG	Overpaying
10	$883	$73	$810
20	$3,394	$288	$3,106
30	$9,792	$849	$8,943

Expense ratio

0.49%COWG
0.04%SCHG, cheaper

SCHG0.04%COWG0.49%

0.03%0.70%

Middle half of US Growth Index funds
Median 0.18%

SCHG 2nd cheapest of 35 funds

COWG 28th cheapest of 35 funds

COWG vs SCHG Dividends

Last 12 months to Oct 30, 2026

Yield (12M): COWG 0.75%, better; SCHG 0.40%
Payout (12M): COWG $0.30; SCHG $0.14
Last payment: COWG $0.19; SCHG $0.04
Ex-dividend: COWG Sep 3, 2026; SCHG Sep 23, 2026
Paid on: COWG Sep 8, 2026; SCHG Sep 28, 2026
Frequency: COWG Quarterly; SCHG Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

COWGQuarterly · 15 paymentsAll COWG payments⁠

SCHGQuarterly · 42 paymentsAll SCHG payments⁠

COWG vs SCHG Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: COWG 16.0%, betterSCHG 16.5%
Return per unit of riskSharpe ratio, 3 years: COWG 1.19, betterSCHG 1.16
Worst fallMax drawdown, 5 years: COWG −23.6%since Dec 2022SCHG −34.6%
Market sensitivityBeta, 5 years: COWG 1.04SCHG 1.20; Market = 1

COWG and SCHG in the news

All news⁠

Best ETFs
The best growth ETF is the cheap one on the index you want
Updated Nov 2, 2026SCHG
Best ETFs
The cheap large-cap growth pick is the S&P 500 list
Updated Oct 2, 2026SCHG

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COWG vs SCHG

In short

Stated mandate

Why people hold it

Worth knowing

How COWG and SCHG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in COWG

Only in SCHG

Weight gaps

Cost over time

Year by year

Distribution history

Fall from peak · 5 years

Risk facts

The best growth ETF is the cheap one on the index you want

The cheap large-cap growth pick is the S&P 500 list

How COWG and SCHG differ

Level by level

Sector

Country, concentration and asset class

Country by domicile

Concentration

Asset class

Holdings

Only in COWG

Only in SCHG

Weight gaps