CAPE vs HCOW
DoubleLine Shiller CAPE US Equities ETF vs Amplify COWS Covered Call ETF
Which is better, CAPE or HCOW?
Each has led over a different period.
CAPE led over 3Y and the full window, HCOW over 1Y. CAPE is less concentrated, with 29.0% of the fund in its ten largest positions against 41.6%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CAPE | HCOW |
|---|---|---|
| Expense Ratio | 0.65%Tie | 0.65%Tie |
| AUM | $209M | $17M |
| Dividend Yield | 1.46% | 13.09% |
| Holdings | 182 | 86 |
| YTD Return | +0.91% | +9.98%Best |
| 1Y Return | +1.11% | +16.40%Best |
| 3Y Return (annualized) | +11.85%Best | +11.02% |
| Volatility (annualized) | 12.9%Best | 15.3% |
| Max Drawdown | -14.3%Best | -24.1% |
| $10,000 over 3.1 years | $13,704Best | $13,609 |
| Top 10 Weight | 29.0%Best | 41.6% |
| Fund Family | DoubleLine Funds | Amplify ETFs |
| Category | Equity | Equity |
| Style | Large Cap Value | Large Cap Value |
| Inception | Mar 31, 2022 | Sep 20, 2023 |
Not shown on this pair: 5Y Return (annualized).
Volatility and max drawdown, and the $10,000 over 3.1 years row, are measured over the window both funds cover: Sep 20, 2023 to Oct 15, 2026 (3.1 years).
CAPE vs HCOW growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 3.1 years both funds cover.
CAPE vs HCOW Performance
DoubleLine Shiller CAPE US Equities ETF (CAPE) is an ETF from DoubleLine Funds and Amplify COWS Covered Call ETF (HCOW) is an ETF from Amplify ETFs. Over the past year CAPE returned +1.11% while HCOW returned +16.40%. Year to date, CAPE is up 0.91% versus a gain of 9.98% for HCOW.
Over three years, CAPE compounded at +11.85% per year against +11.02% for HCOW.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
HCOW has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 12.9% for CAPE. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -14.3% for CAPE and -24.1% for HCOW. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.76. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
CAPE charges 0.65% per year while HCOW charges 0.65%. On a $10,000 position that is $65 vs $65 annually. On income, CAPE currently yields 1.46% against 13.09% for HCOW.
Holdings Overlap
1.5% of CAPE's money is in holdings HCOW also owns. 11.9% of HCOW's money is in holdings CAPE also owns.
HCOW and CAPE share little of their money.
3 positions in common, counted across the 170 positions we hold weights for in CAPE and 31 in HCOW, against full books of 182 and 86.
What only one of them owns
Our book lists 28 positions for HCOW that do not appear in our book for CAPE (88.4% of the fund), and 163 for CAPE that do not appear in HCOW (97.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of CAPE and HCOW you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CAPE or HCOW?
CAPE has an expense ratio of 0.65% while HCOW charges 0.65%. At the precision these are quoted to, they cost the same.
Which performed better, CAPE or HCOW?
Over the past year CAPE returned +1.11% vs +16.40% for HCOW, so HCOW leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, CAPE or HCOW?
HCOW has been the more volatile fund at 15.3% annualized versus 12.9% for CAPE. Worst drawdown: CAPE -14.3% vs HCOW -24.1%.
Should I hold both CAPE and HCOW?
CAPE and HCOW have a monthly-return correlation of 0.76, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CAPE and HCOW?
11.9% of HCOW's money is in holdings CAPE also owns. 11.9% of HCOW's is in holdings CAPE also owns. They hold 3 positions in common, counted across the 170 positions we hold weights for in CAPE and 31 in HCOW.
Which pays a higher dividend, CAPE or HCOW?
CAPE yields 1.46% while HCOW yields 13.09%, so HCOW currently pays the higher dividend yield.
Is HCOW better than CAPE?
CAPE led over 3Y and the full window, HCOW over 1Y. CAPE is less concentrated, with 29.0% of the fund in its ten largest positions against 41.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.