PBI.TO vs. COW.TO
PBI.TO (Purpose Best Ideas Fund) and COW.TO (iShares Global Agriculture Index ETF) are both Large Cap Blend Equities funds. PBI.TO is actively managed, while COW.TO is passively managed. Over the past 10 years, PBI.TO returned 10.19%/yr vs 8.07%/yr for COW.TO. At a 0.19 correlation, their price movements are largely independent. PBI.TO charges 0.82%/yr vs 0.72%/yr for COW.TO.
Performance
PBI.TO vs. COW.TO - Performance Comparison
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Returns By Period
In the year-to-date period, PBI.TO achieves a 3.12% return, which is significantly lower than COW.TO's 18.83% return. Over the past 10 years, PBI.TO has outperformed COW.TO with an annualized return of 10.19%, while COW.TO has yielded a comparatively lower 8.07% annualized return.
PBI.TO
- 1D
- -0.32%
- 1M
- 1.32%
- 6M
- 2.84%
- YTD
- 3.12%
- 1Y
- 8.74%
- 3Y*
- 18.28%
- 5Y*
- 4.37%
- 10Y*
- 10.19%
- ALL TIME*
- 8.93%
COW.TO
- 1D
- 0.19%
- 1M
- 4.63%
- 6M
- 6.73%
- YTD
- 18.83%
- 1Y
- 5.91%
- 3Y*
- 4.89%
- 5Y*
- 5.08%
- 10Y*
- 8.07%
- ALL TIME*
- 7.82%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| CA$123.77K | CA$216.01K | CA$279.81K | |
PBI.TO Purpose Best Ideas Fund | CA$35.55K | CA$37.47K | CA$25.30K |
PBI.TO vs. COW.TO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBI.TO Purpose Best Ideas Fund | 3.12% | 19.19% | 23.26% | 37.57% | -39.67% | 10.70% | 23.07% | 35.93% | -11.92% | 22.62% |
COW.TO iShares Global Agriculture Index ETF | 18.83% | -4.34% | 5.62% | -8.61% | 12.62% | 19.09% | 11.78% | 26.04% | -14.16% | 14.90% |
Correlation
The correlation between PBI.TO and COW.TO is 0.07, 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 | 0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.17 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Apr 29, 2014 | 0.19 |
The correlation between PBI.TO and COW.TO shifts across timeframes, from 0.07 (1 year) to 0.19 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
PBI.TO vs. COW.TO — Risk / Return Rank
PBI.TO
COW.TO
PBI.TO vs. COW.TO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Purpose Best Ideas Fund (PBI.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.
| PBI.TO | COW.TO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.18 | ||
| Sortino ratioReturn per unit of downside risk | +0.21 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.08 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 0.54 | 0.44 | +0.10 |
| Martin ratioReturn relative to average drawdown | 1.76 | 1.03 | +0.74 |
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Drawdowns
PBI.TO vs. COW.TO - Drawdown Comparison
The maximum PBI.TO drawdown since its inception was -47.87%, smaller than the maximum COW.TO drawdown of -55.00%. Use the drawdown chart below to compare losses from any high point for PBI.TO and COW.TO.
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Drawdown Indicators
| PBI.TO | COW.TO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.87% | -55.00% | +7.13% |
Max Drawdown (1Y)Largest decline over 1 year | -16.18% | -13.43% | -2.75% |
Max Drawdown (3Y)Largest decline over 3 years | -20.01% | -14.51% | -5.50% |
Max Drawdown (5Y)Largest decline over 5 years | -47.87% | -29.84% | -18.03% |
Max Drawdown (10Y)Largest decline over 10 years | -47.87% | -42.38% | -5.49% |
Current DrawdownCurrent decline from peak | -4.05% | -8.32% | +4.27% |
Average DrawdownAverage peak-to-trough decline | -10.08% | -14.66% | +4.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.97% | 5.78% | -0.81% |
Volatility
PBI.TO vs. COW.TO - Volatility Comparison
Purpose Best Ideas Fund (PBI.TO) has a higher volatility of 4.30% compared to iShares Global Agriculture Index ETF (COW.TO) at 2.97%. This indicates that PBI.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
| PBI.TO | COW.TO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.30% | 2.97% | +1.33% |
Volatility (6M)Calculated over the trailing 6-month period | 13.37% | 10.89% | +2.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.88% | 15.78% | +0.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.24% | 18.82% | +3.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.00% | 21.82% | +0.18% |
PBI.TO vs. COW.TO - Expense Ratio Comparison
PBI.TO has a 0.82% expense ratio, which is higher than COW.TO's 0.72% expense ratio.
Dividends
PBI.TO vs. COW.TO - Dividend Comparison
PBI.TO has not paid dividends to shareholders, while COW.TO's dividend yield for the trailing twelve months is around 1.34%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COW.TO iShares Global Agriculture Index ETF | 1.34% | 2.46% | 1.43% | 1.62% | 2.01% | 0.69% | 1.13% | 1.13% | 1.18% | 0.63% | 1.21% | 1.96% |
PBI.TO Purpose Best Ideas Fund | 0.00% | 3.02% | 0.00% | 0.00% | 2.95% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PBI.TO and COW.TO have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, COW.TO is cheaper at 0.72% per year. The better choice depends on whether you care most about return, fees, risk, or income.
COW.TO is cheaper with a 0.72% expense ratio, compared with 0.82% for PBI.TO.
They also come from different issuers: Purpose Investments Inc. and iShares. Their fees differ too: 0.82% for PBI.TO and 0.72% for COW.TO.
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