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

HULC.TO vs. COW.TO

Last updated Apr 1, 2026

Compare and contrast key facts about Global X US Large Cap Index Corporate Class ETF (HULC.TO) and iShares Global Agriculture Index ETF (COW.TO).

HULC.TO and COW.TO are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. HULC.TO is a passively managed fund by Global X that tracks the performance of the Solactive US Large Cap Index (CA NTR). It was launched on Feb 5, 2020. COW.TO is a passively managed fund by iShares that tracks the performance of the Manulife Investment Management Global Agriculture Index. It was launched on Dec 19, 2007. Both HULC.TO and COW.TO are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

HULC.TO vs. COW.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X US Large Cap Index Corporate Class ETF (HULC.TO) and iShares Global Agriculture Index ETF (COW.TO). The values are adjusted to include any dividend payments, if applicable.

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

2026 (YTD)202520242023202220212020
HULC.TO
Global X US Large Cap Index Corporate Class ETF		-3.02%12.69%35.93%24.43%-14.75%153.78%-72.17%
COW.TO
iShares Global Agriculture Index ETF		20.39%-0.67%5.62%-8.61%12.64%19.02%15.79%

Returns By Period

In the year-to-date period, HULC.TO achieves a -3.02% return, which is significantly lower than COW.TO's 20.39% return.

HULC.TO

1D
2.87%
1M
-3.04%
YTD
-3.02%
6M
-1.94%
1Y
14.06%
3Y*
19.72%
5Y*
30.63%
10Y*
—

COW.TO

1D
0.28%
1M
0.73%
YTD
20.39%
6M
14.92%
1Y
15.42%
3Y*
5.98%
5Y*
4.97%
10Y*
9.69%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Compare stocks, funds, or ETFs

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Global X US Large Cap Index Corporate Class ETF

iShares Global Agriculture Index ETF

Often compared with HULC.TO:
HULC.TO vs. HXS.TOHULC.TO vs. TULV.TOHULC.TO vs. FCUQ.TOHULC.TO vs. ZUQ.TOHULC.TO vs. TPU.TOHULC.TO vs. XMTM.TOHULC.TO vs. XUU.TO
Often compared with COW.TO:
COW.TO vs. NTR.TOCOW.TO vs. CWW.TOCOW.TO vs. VOOCOW.TO vs. COWGCOW.TO vs. XHC.TOCOW.TO vs. XUS.TOCOW.TO vs. ZWC.TO

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

HULC.TO has a 0.08% expense ratio, which is lower than COW.TO's 0.72% expense ratio.

COW.TO
iShares Global Agriculture Index ETF
HULC.TO
Global X US Large Cap Index Corporate Class ETF

Return for Risk

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

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
HULC.TO
HULC.TO Risk / Return Rank: 4242
Overall Rank
HULC.TO Sharpe Ratio Rank: 3838
Sharpe Ratio Rank
HULC.TO Sortino Ratio Rank: 3737
Sortino Ratio Rank
HULC.TO Omega Ratio Rank: 4242
Omega Ratio Rank
HULC.TO Calmar Ratio Rank: 4545
Calmar Ratio Rank
HULC.TO Martin Ratio Rank: 4646
Martin Ratio Rank
COW.TO
COW.TO Risk / Return Rank: 4646
Overall Rank
COW.TO Sharpe Ratio Rank: 4747
Sharpe Ratio Rank
COW.TO Sortino Ratio Rank: 5151
Sortino Ratio Rank
COW.TO Omega Ratio Rank: 4141
Omega Ratio Rank
COW.TO Calmar Ratio Rank: 5858
Calmar Ratio Rank
COW.TO Martin Ratio Rank: 3636
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.

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

This table presents a comparison of risk-adjusted performance metrics for Global X US Large Cap Index Corporate Class ETF (HULC.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.

HULC.TOCOW.TODifference

Sharpe ratio

Return per unit of total volatility

0.73

0.85

-0.12

Sortino ratio

Return per unit of downside risk

1.11

1.35

-0.24

Omega ratio

Gain probability vs. loss probability

1.17

1.16

+0.01

Calmar ratio

Return relative to maximum drawdown

1.21

1.46

-0.25

Martin ratio

Return relative to average drawdown

4.51

3.31

+1.20

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

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

The current HULC.TO Sharpe Ratio is 0.73, which is comparable to the COW.TO Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of HULC.TO and COW.TO, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

HULC.TOCOW.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.73

0.85

-0.12

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.66

0.26

+0.39

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.51

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.03

0.37

-0.34

Correlation

The correlation between HULC.TO and COW.TO is 0.37, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

HULC.TO vs. COW.TO - Dividend Comparison

HULC.TO has not paid dividends to shareholders, while COW.TO's dividend yield for the trailing twelve months is around 2.00%.

TTM20252024202320222021202020192018201720162015
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%
COW.TO
iShares Global Agriculture Index ETF		2.00%2.40%1.43%1.62%2.03%0.69%1.02%1.02%1.07%0.58%1.10%1.78%

Drawdowns

HULC.TO vs. COW.TO - Drawdown Comparison

The maximum HULC.TO drawdown since its inception was -81.67%, which is greater than COW.TO's maximum drawdown of -55.00%. Use the drawdown chart below to compare losses from any high point for HULC.TO and COW.TO.

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Drawdown Indicators

HULC.TOCOW.TODifference

Max Drawdown

Largest peak-to-trough decline

-81.67%

-55.00%

-26.67%

Max Drawdown (1Y)

Largest decline over 1 year

-12.74%

-11.56%

-1.18%

Max Drawdown (5Y)

Largest decline over 5 years

-23.94%

-29.82%

+5.88%

Max Drawdown (10Y)

Largest decline over 10 years

—

-36.62%

—

Current Drawdown

Current decline from peak

-6.08%

-3.53%

-2.55%

Average Drawdown

Average peak-to-trough decline

-33.60%

-14.01%

-19.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.42%

5.11%

-1.69%

Volatility

HULC.TO vs. COW.TO - Volatility Comparison

The current volatility for Global X US Large Cap Index Corporate Class ETF (HULC.TO) is 5.55%, while iShares Global Agriculture Index ETF (COW.TO) has a volatility of 6.61%. This indicates that HULC.TO experiences smaller price fluctuations and is considered to be less risky 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

HULC.TOCOW.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

5.55%

6.61%

-1.06%

Volatility (6M)

Calculated over the trailing 6-month period

10.48%

12.33%

-1.85%

Volatility (1Y)

Calculated over the trailing 1-year period

19.36%

18.30%

+1.06%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

47.01%

18.95%

+28.06%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

53.99%

19.28%

+34.71%