Overview
The 100 highest free-cash-flow-yield companies in the Russell 1000, rebalanced quarterly — a pure bet that cash generation, not stories, drives returns.
Top Holdings
| Ticker | Holding | Weight |
|---|---|---|
| — | Energy | ~28% |
| — | Healthcare | ~18% |
| — | Consumer discretionary | ~16% |
| VLO | Valero Energy | 2.2% |
| CVS | CVS Health | 2.1% |
| MO | Altria Group | 2.0% |
Fund Details
Investment Thesis
COWZ screens on the least manipulable number in finance: free cash flow relative to enterprise value. No earnings adjustments, no analyst estimates — just cash actually generated versus what the business costs to own. The screen naturally rotates toward whatever the market currently hates but that gushes cash, which has meant heavy energy and healthcare weights. The 0.49% fee is steep for an index fund; its +28% year is the argument that the discipline earns it.
Who It's For
Value investors who want a mechanical, story-proof quality screen rather than a cheap-on-book-value trap. A satellite that has repeatedly embarrassed cheaper value funds.
10-Year History
| Year | Close | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | $28.86 | -- |
| 2018 | $26.98 | -6.5% |
| 2019 | $31.62 | +17.2% |
| 2020 | $32.70 | +3.4% |
| 2021 | $45.97 | +40.6% |
| 2022 | $45.33 | -1.4% |
| 2023 | $51.59 | +13.8% |
| 2024 | $55.51 | +7.6% |
| 2025 | $59.28 | +6.8% |
| Year | Yield |
|---|---|
| 2016 | -- |
| 2017 | 2.41% |
| 2018 | 2.21% |
| 2019 | 2.29% |
| 2020 | 2.09% |
| 2021 | 2.16% |
| 2022 | 1.97% |
| 2023 | 2.03% |
| 2024 | 1.85% |
| 2025 | 1.85% |
| Year | AUM | % Chg |
|---|---|---|
| 2016 | -- | -- |
| 2017 | $0.05B | -- |
| 2018 | $0.11B | +120.0% |
| 2019 | $0.24B | +118.2% |
| 2020 | $0.51B | +112.5% |
| 2021 | $1.1B | +115.7% |
| 2022 | $2.4B | +118.2% |
| 2023 | $5.3B | +120.8% |
| 2024 | $11B | +107.5% |
| 2025 | $25B | +127.3% |
Historical figures are ETFHub estimates modelled from asset-class return patterns and may differ from official fund records. Data as of August 2026.
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