Owen accepts playing second fiddle to Man Utd ace Rooney
With his current club he has scored 12 times in a spell that has seen him start 14 games and appear as a substitute in a further 24.
"I have been around and I do understand," he told the Daily Mail. "Wayne is injured now and if I go and play and score a hat-trick for two or three games then Wayne will still come back.
"I know I am not as good as him - maybe 10 years ago you could argue I was as effective in different ways. There is no question I am happy where I am. I have never once complained about anything as I have enjoyed every minute of my time. Nobody has a bigger smile on their face than me."