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COW.TO vs. DRFU.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

COW.TO vs. DRFU.TO

Last updated Jul 16, 2026
Documentation

COW.TO (iShares Global Agriculture Index ETF) and DRFU.TO (Desjardins RI USA Multifactor - Net-Zero Emissions Pathway ETF) are both Large Cap Blend Equities funds. COW.TO is passively managed, while DRFU.TO is actively managed. Over the past 5 years, COW.TO returned 4.75%/yr vs 14.84%/yr for DRFU.TO. At a 0.12 correlation, their price movements are largely independent.

Performance

COW.TO vs. DRFU.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in iShares Global Agriculture Index ETF (COW.TO) and Desjardins RI USA Multifactor - Net-Zero Emissions Pathway ETF (DRFU.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

The year-to-date returns for both stocks are quite close, with COW.TO having a 16.05% return and DRFU.TO slightly lower at 15.27%.

COW.TO

1D
-0.17%
1M
1.80%
6M
6.01%
YTD
16.05%
1Y
4.66%
3Y*
5.86%
5Y*
4.75%
10Y*
8.09%

DRFU.TO

1D
0.00%
1M
1.19%
6M
14.40%
YTD
15.27%
1Y
28.90%
3Y*
24.00%
5Y*
14.84%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

COW.TO vs. DRFU.TO - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
COW.TO
iShares Global Agriculture Index ETF		16.05%-4.34%5.62%-8.61%12.62%19.09%11.78%26.04%-11.25%
DRFU.TO
Desjardins RI USA Multifactor - Net-Zero Emissions Pathway ETF		15.27%12.18%37.32%5.44%-9.19%29.41%7.31%21.84%-8.47%

Correlation

The correlation between COW.TO and DRFU.TO is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.09

Correlation (3Y)
Calculated over the trailing 3-year period

0.12

Correlation (5Y)
Calculated over the trailing 5-year period

0.10

Correlation (All Time)
Calculated using the full available price history since Sep 24, 2018

0.12

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Global Agriculture Index ETF

Desjardins RI USA Multifactor - Net-Zero Emissions Pathway ETF

Often compared with COW.TO:
COW.TO vs. NTR.TOCOW.TO vs. CWW.TOCOW.TO vs. COWGCOW.TO vs. VOOCOW.TO vs. XHC.TOCOW.TO vs. DBACOW.TO vs. ZWC.TO

Return for Risk

COW.TO vs. DRFU.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
COW.TO
COW.TO Risk / Return Rank: 1414
Overall Rank
COW.TO Sharpe Ratio Rank: 1414
Sharpe Ratio Rank
COW.TO Sortino Ratio Rank: 1313
Sortino Ratio Rank
COW.TO Omega Ratio Rank: 1313
Omega Ratio Rank
COW.TO Calmar Ratio Rank: 1414
Calmar Ratio Rank
COW.TO Martin Ratio Rank: 1414
Martin Ratio Rank
DRFU.TO
DRFU.TO Risk / Return Rank: 8989
Overall Rank
DRFU.TO Sharpe Ratio Rank: 8282
Sharpe Ratio Rank
DRFU.TO Sortino Ratio Rank: 9292
Sortino Ratio Rank
DRFU.TO Omega Ratio Rank: 9595
Omega Ratio Rank
DRFU.TO Calmar Ratio Rank: 8989
Calmar Ratio Rank
DRFU.TO Martin Ratio Rank: 8989
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

COW.TO vs. DRFU.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Global Agriculture Index ETF (COW.TO) and Desjardins RI USA Multifactor - Net-Zero Emissions Pathway ETF (DRFU.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

COW.TODRFU.TODifference
Sharpe ratioReturn per unit of total volatility
0.30
2.09

-1.80

Sortino ratioReturn per unit of downside risk
0.54
3.61

-3.07

Omega ratioGain probability vs. loss probability

1.06

1.61

-0.55

Calmar ratioReturn relative to maximum drawdown

0.35

4.25

-3.90

Martin ratioReturn relative to average drawdown

0.81

15.34

-14.53

COW.TO vs. DRFU.TO - Sharpe Ratio Comparison

The current COW.TO Sharpe Ratio is 0.30, which is lower than the DRFU.TO Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of COW.TO and DRFU.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

COW.TO vs. DRFU.TO - Drawdown Comparison

The maximum COW.TO drawdown since its inception was -55.00%, which is greater than DRFU.TO's maximum drawdown of -19.89%. Use the drawdown chart below to compare losses from any high point for COW.TO and DRFU.TO.

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Drawdown Indicators

COW.TODRFU.TODifference

Max Drawdown

Largest peak-to-trough decline

-55.00%

-19.89%

-35.11%

Max Drawdown (1Y)

Largest decline over 1 year

-13.43%

-6.89%

-6.54%

Max Drawdown (3Y)

Largest decline over 3 years

-14.51%

-19.89%

+5.38%

Max Drawdown (5Y)

Largest decline over 5 years

-29.84%

-19.89%

-9.95%

Max Drawdown (10Y)

Largest decline over 10 years

-42.38%

—

—

Current Drawdown

Current decline from peak

-10.46%

0.00%

-10.46%

Average Drawdown

Average peak-to-trough decline

-14.67%

-4.92%

-9.75%

Ulcer Index

Depth and duration of drawdowns from previous peaks

5.75%

1.90%

+3.85%

Volatility

COW.TO vs. DRFU.TO - Volatility Comparison

The current volatility for iShares Global Agriculture Index ETF (COW.TO) is 2.31%, while Desjardins RI USA Multifactor - Net-Zero Emissions Pathway ETF (DRFU.TO) has a volatility of 2.67%. This indicates that COW.TO experiences smaller price fluctuations and is considered to be less risky than DRFU.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

COW.TODRFU.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

2.31%

2.67%

-0.36%

Volatility (6M)

Calculated over the trailing 6-month period

11.19%

11.39%

-0.20%

Volatility (1Y)

Calculated over the trailing 1-year period

15.80%

13.99%

+1.81%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.86%

16.37%

+2.49%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

21.81%

16.49%

+5.32%

Dividends

COW.TO vs. DRFU.TO - Dividend Comparison

COW.TO's dividend yield for the trailing twelve months is around 1.37%, more than DRFU.TO's 1.01% yield.

PositionTTM20252024202320222021202020192018201720162015
COW.TO
iShares Global Agriculture Index ETF		1.37%2.46%1.43%1.62%2.01%0.69%1.13%1.13%1.18%0.63%1.21%1.96%
DRFU.TO
Desjardins RI USA Multifactor - Net-Zero Emissions Pathway ETF		1.01%0.76%0.60%0.80%1.05%1.08%1.38%1.37%0.41%0.00%0.00%0.00%

Frequently Asked Questions

COW.TO and DRFU.TO have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

They also come from different issuers: iShares and Desjardins.

Portfolio Optimizer

Find the right allocation for COW.TO and DRFU.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

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