COW.TO vs. HULC.TO
COW.TO (iShares Global Agriculture Index ETF) and HULC.TO (Global X US Large Cap Index Corporate Class ETF) are both Large Cap Blend Equities funds - COW.TO tracks the Manulife Investment Management Global Agriculture Index while HULC.TO tracks the Solactive US Large Cap Index (CA NTR). Both are passively managed. Over the past 5 years, COW.TO returned 4.24%/yr vs 34.17%/yr for HULC.TO. At a 0.36 correlation, their price movements are largely independent. COW.TO charges 0.72%/yr vs 0.08%/yr for HULC.TO.
Performance
COW.TO vs. HULC.TO - Performance Comparison
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Returns By Period
In the year-to-date period, COW.TO achieves a 15.84% return, which is significantly higher than HULC.TO's 12.50% return.
COW.TO
- 1D
- 0.40%
- 1M
- -2.01%
- YTD
- 15.84%
- 6M
- 13.53%
- 1Y
- 9.79%
- 3Y*
- 8.62%
- 5Y*
- 4.24%
- 10Y*
- 8.59%
HULC.TO
- 1D
- -0.15%
- 1M
- 7.49%
- YTD
- 12.50%
- 6M
- 10.64%
- 1Y
- 29.64%
- 3Y*
- 24.34%
- 5Y*
- 34.17%
- 10Y*
- —
COW.TO vs. HULC.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
COW.TO iShares Global Agriculture Index ETF | 15.84% | -0.67% | 5.62% | -8.61% | 12.64% | 19.02% | 30.76% |
HULC.TO Global X US Large Cap Index Corporate Class ETF | 12.50% | 12.69% | 35.93% | 24.43% | -14.75% | 153.78% | 26.06% |
Correlation
The correlation between COW.TO and HULC.TO is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.30 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Mar 2, 2020 | 0.36 |
The correlation between COW.TO and HULC.TO shifts across timeframes, from 0.20 (1 year) to 0.36 (5 years), reflecting how their relationship changes across market environments.
COW.TO vs. HULC.TO - Sectors Allocation Comparison
Sectors
COW.TO
HULC.TO
Consumer Defensive
Industrials
Basic Materials
Consumer Cyclical
Financial Services
Communication Services
-
Energy
-
Healthcare
-
Real Estate
-
Technology
-
Utilities
-
Consumer Defensive
COW.TO
HULC.TO
Industrials
COW.TO
HULC.TO
Basic Materials
COW.TO
HULC.TO
Consumer Cyclical
COW.TO
HULC.TO
Financial Services
COW.TO
HULC.TO
Communication Services
COW.TO
-
HULC.TO
Energy
COW.TO
-
HULC.TO
Healthcare
COW.TO
-
HULC.TO
Real Estate
COW.TO
-
HULC.TO
Technology
COW.TO
-
HULC.TO
Utilities
COW.TO
-
HULC.TO
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Return for Risk
COW.TO vs. HULC.TO — Risk / Return Rank
COW.TO
HULC.TO
COW.TO vs. HULC.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Global Agriculture Index ETF (COW.TO) and Global X US Large Cap Index Corporate Class ETF (HULC.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.
| COW.TO | HULC.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.75 | ||
| Sortino ratioReturn per unit of downside risk | -2.23 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.44 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | 0.94 | 3.41 | -2.48 |
| Martin ratioReturn relative to average drawdown | 1.94 | 12.23 | -10.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| COW.TO | HULC.TO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.63 | 2.38 | -1.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.73 | -0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.36 | 0.75 | -0.39 |
Drawdowns
COW.TO vs. HULC.TO - Drawdown Comparison
The maximum COW.TO drawdown since its inception was -55.00%, which is greater than HULC.TO's maximum drawdown of -23.94%. Use the drawdown chart below to compare losses from any high point for COW.TO and HULC.TO.
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Drawdown Indicators
| COW.TO | HULC.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.00% | -23.94% | -31.06% |
Max Drawdown (1Y)Largest decline over 1 year | -10.51% | -8.73% | -1.78% |
Max Drawdown (3Y)Largest decline over 3 years | -14.51% | -19.46% | +4.95% |
Max Drawdown (5Y)Largest decline over 5 years | -29.82% | -23.94% | -5.88% |
Max Drawdown (10Y)Largest decline over 10 years | -36.62% | — | — |
Current DrawdownCurrent decline from peak | -7.17% | -0.15% | -7.02% |
Average DrawdownAverage peak-to-trough decline | -13.94% | -4.68% | -9.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.06% | 2.43% | +2.63% |
Volatility
COW.TO vs. HULC.TO - Volatility Comparison
iShares Global Agriculture Index ETF (COW.TO) has a higher volatility of 3.85% compared to Global X US Large Cap Index Corporate Class ETF (HULC.TO) at 3.01%. This indicates that COW.TO's price experiences larger fluctuations and is considered to be riskier than HULC.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.TO | HULC.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.85% | 3.01% | +0.84% |
Volatility (6M)Calculated over the trailing 6-month period | 12.44% | 9.25% | +3.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.68% | 12.53% | +3.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.87% | 46.99% | -28.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.30% | 43.82% | -24.52% |
COW.TO vs. HULC.TO - Expense Ratio Comparison
COW.TO has a 0.72% expense ratio, which is higher than HULC.TO's 0.08% expense ratio.
Dividends
COW.TO vs. HULC.TO - Dividend Comparison
COW.TO's dividend yield for the trailing twelve months is around 2.07%, while HULC.TO has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COW.TO iShares Global Agriculture Index ETF | 2.07% | 2.40% | 1.43% | 1.62% | 2.03% | 0.69% | 1.02% | 1.02% | 1.07% | 0.58% | 1.10% | 1.78% |
HULC.TO Global X US Large Cap Index Corporate Class ETF | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
COW.TO and HULC.TO have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, HULC.TO is cheaper at 0.08% per year. The better choice depends on whether you care most about return, fees, risk, or income.
HULC.TO is cheaper with a 0.08% expense ratio, compared with 0.72% for COW.TO.
COW.TO tracks Manulife Investment Management Global Agriculture Index, while HULC.TO tracks Solactive US Large Cap Index (CA NTR). They also come from different issuers: iShares and Global X. Their fees differ too: 0.72% for COW.TO and 0.08% for HULC.TO.
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