COWZ Fees and Costs — Pacer US Cash Cows 100 ETF
Data updated: 2026-09-29
The net expense ratio is 0.49%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $3.8M in broker commissions, 0.0196% of average net assets, and portfolio turnover was 86%.
COWZ Fees and Expenses
Annual operating expenses and sales charges of COWZ. Prospectus, as of August 31, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.49% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.49% |
| Fee waiver | — |
| Net expense ratio | 0.49% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
COWZ Costs Over Time
On $10,000 invested in COWZ, assuming 5% a year before costs, total costs come to $322 over 5 years, cutting the return by 0.54% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.49%) | $51 | $161 | $281 |
| Trading costs (broker commissions) | $2 | $6 | $11 |
| Lost growth on money paid in costs | $0 | $8 | $29 |
| Total costs | $54 | $176 | $322 |
| Value after costs | $10,446 | $11,400 | $12,441 |
| Impact on return, per year | 0.54% | 0.54% | 0.54% |
COWZ Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0196%
- Total broker commissions: $3.8M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 86%
- Securities on loan, average value: $306.3M
- Net income from securities lending: $370K (0.002% of average net assets)
COWZ Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BTIG, LLC | $683K | 18.13% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED | $529K | 14.04% |
| GOLDMAN SACHS & CO. LLC | $478K | 12.68% |
| MIRAE ASSET SECURITIES (USA) INC. | $458K | 12.17% |
| JANE STREET EXECUTION SERVICES, LLC | $416K | 11.03% |
| RBC CAPITAL MARKETS, LLC | $325K | 8.63% |
| CITADEL SECURITIES LLC | $318K | 8.44% |
| VIRTU AMERICAS LLC | $274K | 7.29% |
| BARCLAYS CAPITAL INC. | $169K | 4.49% |
| J.P. MORGAN SECURITIES LLC | $117K | 3.11% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.