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

FLUS.TO vs. COW.TO

Last updated Jun 4, 2026

FLUS.TO (Franklin U.S. Large Cap Multifactor Index ETF) and COW.TO (iShares Global Agriculture Index ETF) are both Large Cap Blend Equities funds - FLUS.TO tracks the LibertyQ U.S. Large Cap Equity Index while COW.TO tracks the Manulife Investment Management Global Agriculture Index. Both are passively managed. Over the past 5 years, FLUS.TO returned 16.75%/yr vs 4.24%/yr for COW.TO. At a 0.39 correlation, their price movements are largely independent. FLUS.TO charges 0.29%/yr vs 0.72%/yr for COW.TO.

Performance

FLUS.TO vs. COW.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Franklin U.S. Large Cap Multifactor Index ETF (FLUS.TO) and iShares Global Agriculture Index ETF (COW.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, FLUS.TO achieves a 13.62% return, which is significantly lower than COW.TO's 15.84% return.

FLUS.TO

1D
0.30%
1M
6.59%
YTD
13.62%
6M
8.27%
1Y
26.86%
3Y*
23.14%
5Y*
16.75%
10Y*
—

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%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)202520242023202220212020201920182017
FLUS.TO
Franklin U.S. Large Cap Multifactor Index ETF		13.62%10.48%34.58%20.92%-10.01%25.42%8.39%21.78%4.67%8.71%
COW.TO
iShares Global Agriculture Index ETF		15.84%-0.67%5.62%-8.61%12.64%19.02%11.66%25.91%-14.26%14.52%

Correlation

The correlation between FLUS.TO and COW.TO is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

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

0.18

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

0.24

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

0.31

Correlation (All Time)
Calculated using the full available price history since Jun 29, 2017

0.39

Over the past year, the correlation between FLUS.TO and COW.TO has dropped to 0.18 - well below their long-term average of 0.39, suggesting their price drivers have been diverging.

FLUS.TO vs. COW.TO - Sectors Allocation Comparison

Sectors
FLUS.TO
COW.TO

Technology

34.3%

-

Communication Services

12.2%

-

Consumer Cyclical

11.5%
1.7%

Healthcare

10.5%

-

Industrials

10.0%
28.0%

Financial Services

9.9%
0.5%

Consumer Defensive

4.4%
42.3%

Real Estate

2.9%

-

Basic Materials

1.7%
27.4%

Utilities

1.6%

-

Energy

1.0%

-

Technology

FLUS.TO
34.3%
COW.TO

-

Communication Services

FLUS.TO
12.2%
COW.TO

-

Consumer Cyclical

FLUS.TO
11.5%
COW.TO
1.7%

Healthcare

FLUS.TO
10.5%
COW.TO

-

Industrials

FLUS.TO
10.0%
COW.TO
28.0%

Financial Services

FLUS.TO
9.9%
COW.TO
0.5%

Consumer Defensive

FLUS.TO
4.4%
COW.TO
42.3%

Real Estate

FLUS.TO
2.9%
COW.TO

-

Basic Materials

FLUS.TO
1.7%
COW.TO
27.4%

Utilities

FLUS.TO
1.6%
COW.TO

-

Energy

FLUS.TO
1.0%
COW.TO

-

Compare stocks, funds, or ETFs

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Franklin U.S. Large Cap Multifactor Index ETF

iShares Global Agriculture Index ETF

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

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
FLUS.TO
FLUS.TO Risk / Return Rank: 6464
Overall Rank
FLUS.TO Sharpe Ratio Rank: 6262
Sharpe Ratio Rank
FLUS.TO Sortino Ratio Rank: 6464
Sortino Ratio Rank
FLUS.TO Omega Ratio Rank: 7070
Omega Ratio Rank
FLUS.TO Calmar Ratio Rank: 6060
Calmar Ratio Rank
FLUS.TO Martin Ratio Rank: 6262
Martin Ratio Rank
COW.TO
COW.TO Risk / Return Rank: 1919
Overall Rank
COW.TO Sharpe Ratio Rank: 1919
Sharpe Ratio Rank
COW.TO Sortino Ratio Rank: 1919
Sortino Ratio Rank
COW.TO Omega Ratio Rank: 1818
Omega Ratio Rank
COW.TO Calmar Ratio Rank: 2121
Calmar Ratio Rank
COW.TO Martin Ratio Rank: 1818
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.

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

This table presents a comparison of risk-adjusted performance metrics for Franklin U.S. Large Cap Multifactor Index ETF (FLUS.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.

FLUS.TOCOW.TODifference
Sharpe ratioReturn per unit of total volatility
2.05
0.63

+1.42

Sortino ratioReturn per unit of downside risk
2.93
1.03

+1.89

Omega ratioGain probability vs. loss probability

1.41

1.12

+0.30

Calmar ratioReturn relative to maximum drawdown

2.92

0.94

+1.99

Martin ratioReturn relative to average drawdown

10.86

1.94

+8.92

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

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

The current FLUS.TO Sharpe Ratio is 2.05, which is higher than the COW.TO Sharpe Ratio of 0.63. The chart below compares the historical Sharpe Ratios of FLUS.TO and COW.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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Sharpe Ratios by Period

FLUS.TOCOW.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.05

0.63

+1.42

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.15

0.23

+0.93

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.45

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.95

0.36

+0.59

Drawdowns

FLUS.TO vs. COW.TO - Drawdown Comparison

The maximum FLUS.TO drawdown since its inception was -28.25%, smaller than the maximum COW.TO drawdown of -55.00%. Use the drawdown chart below to compare losses from any high point for FLUS.TO and COW.TO.

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Drawdown Indicators

FLUS.TOCOW.TODifference

Max Drawdown

Largest peak-to-trough decline

-28.25%

-55.00%

+26.75%

Max Drawdown (1Y)

Largest decline over 1 year

-9.24%

-10.51%

+1.27%

Max Drawdown (3Y)

Largest decline over 3 years

-18.83%

-14.51%

-4.32%

Max Drawdown (5Y)

Largest decline over 5 years

-19.13%

-29.82%

+10.69%

Max Drawdown (10Y)

Largest decline over 10 years

—

-36.62%

—

Current Drawdown

Current decline from peak

0.00%

-7.17%

+7.17%

Average Drawdown

Average peak-to-trough decline

-3.65%

-13.94%

+10.29%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.48%

5.06%

-2.58%

Volatility

FLUS.TO vs. COW.TO - Volatility Comparison

Franklin U.S. Large Cap Multifactor Index ETF (FLUS.TO) and iShares Global Agriculture Index ETF (COW.TO) have volatilities of 4.00% and 3.85%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

FLUS.TOCOW.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

4.00%

3.85%

+0.15%

Volatility (6M)

Calculated over the trailing 6-month period

10.68%

12.44%

-1.76%

Volatility (1Y)

Calculated over the trailing 1-year period

13.18%

15.68%

-2.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

14.63%

18.87%

-4.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

15.84%

19.30%

-3.46%

FLUS.TO vs. COW.TO - Expense Ratio Comparison

FLUS.TO has a 0.29% expense ratio, which is lower than COW.TO's 0.72% expense ratio.

Dividends

FLUS.TO vs. COW.TO - Dividend Comparison

FLUS.TO's dividend yield for the trailing twelve months is around 0.62%, less than COW.TO's 2.07% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
FLUS.TO
Franklin U.S. Large Cap Multifactor Index ETF		0.62%0.73%0.91%1.20%1.72%1.74%1.62%1.83%1.66%0.51%0.00%0.00%

Frequently Asked Questions

FLUS.TO and COW.TO have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, FLUS.TO is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

FLUS.TO is cheaper with a 0.29% expense ratio, compared with 0.72% for COW.TO.

FLUS.TO tracks LibertyQ U.S. Large Cap Equity Index, while COW.TO tracks Manulife Investment Management Global Agriculture Index. They also come from different issuers: Franklin and iShares. Their fees differ too: 0.29% for FLUS.TO and 0.72% for COW.TO.

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