ESGY.TO vs. COW.TO
ESGY.TO (BMO MSCI USA Selection Equity Index ETF) and COW.TO (iShares Global Agriculture Index ETF) are both Large Cap Blend Equities funds. Over the past 5 years, ESGY.TO returned 16.24%/yr vs 4.07%/yr for COW.TO. At a 0.27 correlation, their price movements are largely independent.
Performance
ESGY.TO vs. COW.TO - Performance Comparison
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Returns By Period
In the year-to-date period, ESGY.TO achieves a 13.25% return, which is significantly lower than COW.TO's 15.81% return.
ESGY.TO
- 1D
- 1.45%
- 1M
- 2.57%
- YTD
- 13.25%
- 6M
- 13.11%
- 1Y
- 28.69%
- 3Y*
- 23.63%
- 5Y*
- 16.24%
- 10Y*
- —
COW.TO
- 1D
- 0.67%
- 1M
- 2.16%
- YTD
- 15.81%
- 6M
- 15.46%
- 1Y
- 5.19%
- 3Y*
- 6.38%
- 5Y*
- 4.07%
- 10Y*
- 8.37%
ESGY.TO vs. COW.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
ESGY.TO BMO MSCI USA Selection Equity Index ETF | 13.25% | 13.67% | 33.83% | 26.54% | -15.46% | 30.67% | 11.27% |
COW.TO iShares Global Agriculture Index ETF | 15.81% | -4.34% | 5.62% | -8.61% | 12.62% | 19.09% | 12.24% |
Correlation
The correlation between ESGY.TO and COW.TO is 0.14, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.25 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (All Time) Calculated using the full available price history since Jan 21, 2020 | 0.27 |
The correlation between ESGY.TO and COW.TO shifts across timeframes, from 0.14 (1 year) to 0.28 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
ESGY.TO vs. COW.TO — Risk / Return Rank
ESGY.TO
COW.TO
ESGY.TO vs. COW.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BMO MSCI USA Selection Equity Index ETF (ESGY.TO) and iShares Global Agriculture Index ETF (COW.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.
| ESGY.TO | COW.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.93 | ||
| Sortino ratioReturn per unit of downside risk | +2.67 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.07 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 2.71 | 0.39 | +2.33 |
| Martin ratioReturn relative to average drawdown | 9.84 | 0.91 | +8.92 |
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Drawdowns
ESGY.TO vs. COW.TO - Drawdown Comparison
The maximum ESGY.TO drawdown since its inception was -26.36%, smaller than the maximum COW.TO drawdown of -55.00%. Use the drawdown chart below to compare losses from any high point for ESGY.TO and COW.TO.
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Drawdown Indicators
| ESGY.TO | COW.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -26.36% | -55.00% | +28.64% |
Max Drawdown (1Y)Largest decline over 1 year | -10.62% | -13.43% | +2.81% |
Max Drawdown (3Y)Largest decline over 3 years | -20.83% | -14.51% | -6.32% |
Max Drawdown (5Y)Largest decline over 5 years | -22.89% | -29.84% | +6.95% |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.38% | — |
Current DrawdownCurrent decline from peak | 0.00% | -10.65% | +10.65% |
Average DrawdownAverage peak-to-trough decline | -5.28% | -14.68% | +9.40% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.92% | 5.69% | -2.77% |
Volatility
ESGY.TO vs. COW.TO - Volatility Comparison
BMO MSCI USA Selection Equity Index ETF (ESGY.TO) has a higher volatility of 4.46% compared to iShares Global Agriculture Index ETF (COW.TO) at 2.98%. This indicates that ESGY.TO's price experiences larger fluctuations and is considered to be riskier than COW.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ESGY.TO | COW.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.46% | 2.98% | +1.48% |
Volatility (6M)Calculated over the trailing 6-month period | 10.01% | 12.20% | -2.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.77% | 16.10% | -3.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.61% | 18.89% | -3.28% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.87% | 21.82% | -4.95% |
Dividends
ESGY.TO vs. COW.TO - Dividend Comparison
ESGY.TO's dividend yield for the trailing twelve months is around 0.61%, less than COW.TO's 1.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
ESGY.TO BMO MSCI USA Selection Equity Index ETF | 0.61% | 0.66% | 0.79% | 1.16% | 1.34% | 1.12% | 1.44% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ESGY.TO and COW.TO have a correlation of 0.14, 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: BMO and iShares.
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