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iShares Global Agriculture Index ETF (COW) and iShares S&P/TSX Energy Transition Materials Index ETF (XETM) offer distinct profiles for Canadian ETF investors. A direct comparison shows that COW focuses its top 3 sector exposures on Consumer Non-Cyclicals, Non-Energy Materials, and Industrials, while XETM leans towards Non-Energy Materials and Energy. When evaluating costs, COW features a management fee (MER) of 0.65%, compared to 0.55% for XETM. Performance-wise, COW has returned 13.79% year-to-date with +$23 M in net flows, whereas XETM is at 13.03% with +$94 M. Use the comparison tool below to benchmark these funds across top 10 holdings, yield, sector weights and historical returns.
NAV Performance and Flows
Key Data
Compare
COW
XETM
| AuM | $275.54 M | $105.52 M |
| Management Fees | 0.65% | 0.55% |
| Exp. ratio | 0.71% | 0.59% |
| Tracking Difference | - | -0.91% |
Historical performance and flows
As of September 30, 2026
| 1M | 3M | YTD | 1Y | 3Y | ||
|---|---|---|---|---|---|---|
| Perf. | COW | -3.32% | -1.62% | +13.79% | +8.17% | +21.23% |
XETM | -9.33% | +2.40% | +13.03% | +36.43% | +116.60% | |
| Flows | COW | -$7 M | -$7 M | +$23 M | +$20 M | -$127 M |
XETM | -$7 M | -$5 M | +$94 M | +$100 M | +$105 M |
COW vs XETM exposure
Countries
COW
USA
81.30%
Canada
7.89%
Other
10.81%
XETM
Canada
64.07%
USA
22.19%
Other
13.74%
Sectors
COW
Consumer Non-Cyclicals
37.16%
Non-Energy Materials
35.57%
Industrials
24.58%
XETM
Non-Energy Materials
85.05%
Energy
14.76%
As of September 30, 2026
Top 10 Holdings
COW
Deere & Co.
10.20%
Corteva, Inc.
10.14%
Archer-Daniels-Midland Co.
9.27%
Nutrien Ltd.
7.02%
AGCO Corp.
6.52%
Bunge Global SA
5.81%
Tyson Foods, Inc.
5.65%
Sociedad Quimica y Minera de Chile SA
5.05%
Ingredion, Inc.
4.65%
The Andersons, Inc.
4.46%
XETM
First Quantum Minerals Ltd.
8.28%
Teck Resources Limited
7.92%
Lundin Mining Corp.
7.67%
Cameco Corp.
6.79%
Freeport-McMoRan, Inc.
6.44%
Hudbay Minerals, Inc.
4.34%
BHP Group Ltd.
3.91%
Rio Tinto Plc
3.76%
Capstone Copper Corp.
3.32%
Southern Copper Corp.
2.95%
Diversification
COW
Total weight of top 10 holdings out of 35 total
68.77%
XETM
Total weight of top 10 holdings out of 107 total
55.41%
Characteristics
Compare
COW
XETM
| Provider | iShares | iShares |
| Management | Passively managed | Passively managed |
| Benchmark | MFC Custom Global Agriculture Total Return Index - USD | S&P/TSX Energy Transition Materials Index - CAD |
| Replication Method | Direct (Physical) | Direct (Physical) |
| Asset Class | Equity | Equity |
| Dividend Policy | Distributing | Distributing |
| Trailing 12m distribution yield | 1.40% | 0.26% |
| Meets ESG criteria | No | Yes |
| Inception Date | December 19, 2007 | September 6, 2023 |
Frequently asked questions about COW and XETM
Which ETF has performed better year to date: COW or XETM?
As of September 30, 2026, COW has returned 13.79% year to date, while XETM has returned 13.03%. COW is ahead on YTD performance.
Which ETF is larger by assets under management: COW or XETM?
As of September 30, 2026, COW manages $275.54 M in assets, while XETM manages $105.52 M. COW is the larger fund by AUM.
How are COW and XETM managed?
COW is passively managed by iShares. It tracks the MFC Custom Global Agriculture Total Return Index - USD benchmark. XETM is passively managed by iShares. It tracks the S&P/TSX Energy Transition Materials Index - CAD benchmark.
What sectors do COW and XETM emphasize?
COW is most exposed to Consumer Non-Cyclicals, Non-Energy Materials, and Industrials. XETM is most exposed to Non-Energy Materials and Energy.
Which ETF is attracting more investor flows: COW or XETM?
Year to date, COW has seen +$22.84 M in net flows, compared with +$94.39 M for XETM. XETM has attracted more net investor money so far.
How do the fees of COW and XETM compare?
COW has an expense ratio of 0.71%, while XETM has an expense ratio of 0.59%.
What are the top holdings of COW and XETM?
COW's largest holdings include Deere & Co., Corteva, Inc., and Archer-Daniels-Midland Co.. XETM's top holdings include First Quantum Minerals Ltd., Teck Resources Limited, and Lundin Mining Corp..
Which ETF is more diversified: COW or XETM?
COW holds 35 securities, while XETM holds 107. On holdings count, XETM is the more diversified portfolio.
Recent articles about COW and XETM
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