COW
iPath Series B Bloomberg Livestock Subindex Total Return ETN

Price: $38.04
Change: $0.56 (0.01%)
Last Updated:

Vitals

Brand iPath
Structure ETN
Expense Ratio 0.45%
ETF Home Page Home page
Inception Jan 17, 2018
Index Tracked Bloomberg Livestock

Analyst Report

This ETN offers an opportunity for investors to gain exposure to hogs and cattle, making it an effective tool for gaining targeted exposure to commodities that often perform well when inflationary pressures kick in. Those seeking more broad-based agricultural exposure may prefer products such as AGF or DBA, while UBC offers generally similar exposure to livestock. Given the narrow focus of this security, COW probably has little use in long-term, buy-and-hold portfolios; it can, however, be a very useful tool for expressing a shorter-term view on a specific corner of the commodity market. There are several noteworthy elements of COW; investors should be aware that COW is a debt instrument, exposing investors to the credit risk of the issuing institution. Moreover, this note is linked to a futures-based index, meaning that the slope of the futures curve often impacts returns and that COW won’t necessarily offer exposure to spot prices. Finally, the ETN structure can have an impact on the tax consequences, which may be unique from comparable ETNs.

ETF Database Themes

Asset Class Commodity
Commodity Type Livestock
Commodity Broad
Commodity Exposure Futures-Based

FactSet Classifications

  • Segment Commodities: Agriculture Livestock
  • Category Agriculture
  • Focus Livestock
  • Niche Front Month
  • Strategy Multi-factor
  • Weighting Scheme Multi-Factor

Trading Data

Open - Volume -
Day Lo - Day Hi -
  • Open
  • Volume
  • Day Lo
  • Day Hi
  • 52 Week Lo $34.05
  • 52 Week Hi $39.87
  • AUM $19.5 M
  • Shares 0.5 M

Historical Trading Data

  • 1 Month Avg. Volume 6,473
  • 3 Month Avg. Volume 10,131

Alternative ETFs in the ETF Database Agricultural Commodities Category

Type Symbol Expense Ratio Assets Avg. Daily Vol YTD Return
Cheapest TAGS 0.21% $11.8 M 7,695 2.62%
Largest (AUM) DBA 0.93% $1.0 B 979,433 2.78%
Most Liquid (Volume) DBA 0.93% $1.0 B 979,433 2.78%
Top YTD Performer RJA 0.75% $154.3 M 144,281 17.92%

Top 15 Holdings

Concentration Analysis

This section compares how balanced and deep this ETF is relative to its peers.

Holdings Comparison

COW ETF Database Category Average FactSet Segment Average
Number of Holdings 2 3 2
% of Assets in Top 10 100.00% 98.75% 100.00%
% of Assets in Top 15 100.00% 99.44% 100.00%
% of Assets in Top 50 100.00% 99.73% 100.00%

Size Comparison

COW ETF Database Category Average FactSet Segment Average
Large (>12.9B) N/A N/A N/A
Mid (>2.7B) N/A N/A N/A
Small (>600M) N/A N/A N/A
Micro (<600M) N/A N/A N/A

COW Valuation

This section compares the P/E ratio of this ETF to its peers.

COW
P/E Ratio
N/A
ETF Database Category Average
P/E Ratio
N/A
FactSet Segment Average
P/E Ratio
N/A

COW Dividend

This section compares the dividend yield of this ETF to its peers.

COW ETF Database Category Average FactSet Segment Average
Dividend N/A $ 0.02 N/A
Dividend Date N/A N/A N/A
Annual Dividend Rate N/A N/A N/A
Annual Dividend Yield N/A N/A N/A

COW Price and Volume Charts

View charts featuring COW price and volume data.

COW Fund Flows Charts

View charts featuring ETF fund flow data.

5 Day Net Flows: 0 1 Month Net Flows: -1.12 M 3 Month Net Flows: -4.19 M 6 Month Net Flows: -1.18 M 1 Year Net Flows: -7.56 M 3 Year Net Flows: 10.86 M 5 Year Net Flows: 14.11 M 10 Year Net Flows: 14.11 M

COW Price vs Flows AUM Influence Charts

View charts that break down the influence that fund flows and price had on overall assets.

Realtime Rating

The adjacent table gives investors an individual Realtime Rating for COW on several different metrics, including liquidity, expenses, performance, volatility, dividend, concentration of holdings in addition to an overall rating. The "A+ Metric Rated ETF" field, available to ETF Database Pro members, shows the ETF in the Agricultural Commodities with the highest Metric Realtime Rating for each individual field. To view all of this data, sign up for a free 14-day trial for ETF Database Pro. To view information on how the ETF Database Realtime Ratings work, click here.

Metric Metric Realtime Rating A+ Metric Rated ETF
Liquidity A- DBA
Expenses B TAGS
Performance
Volatility
Dividend
Concentration

A+ Overall Rated ETF:

COW Expenses & Fees

This section compares the cost efficiency of this ETF to its peers.

Expenses Ratio Analysis

COW
Expense Ratio
0.45%
ETF Database Category Average
Expense Ratio
0.89%
FactSet Segment Average
Expense Ratio
0.45%

Tax Analysis

Max ST Capital Gains Rate 39.60%
Max LT Capital Gains Rate 20.00%
Tax On Distributions No distributions
Distributes K1 No
ESG Themes and Scores

COW does not have an ESG score. There are no ESG themes that map to this ETF.

COW Performance

This section shows how this ETF has performed relative to its peers.

COW ETF Database
Category Average
Factset Segment
Average
1 Month Return 2.92% 6.04% 2.92%
3 Month Return 2.49% 9.50% 2.49%
YTD Return 0.98% 5.02% 0.98%
1 Year Return 11.15% 29.39% 11.15%
3 Year Return -23.83% 38.94% -23.83%
5 Year Return N/A 8.08% 0.00%

Geographic Exposure

The following charts reflect the geographic spread of COW's underlying holdings.

Holdings Analysis

The following charts reflect the allocation of COW's underlying holdings.

COW Technicals

Volatility Analysis

This section shows how the volatility of this ETF compares to the peer group ETF Database Category.

5 Day Volatility 47.81%
20 Day Volatility 14.91%
50 Day Volatility 12.98%
200 Day Volatility 12.62%
Beta 0.29
Standard Deviation 0.93%
5 Day Volatility
47.81%
Rank
10 of 17

20 Day Volatility
14.91%
Rank
16 of 17

50 Day Volatility
12.98%
Rank
16 of 17

200 Day Volatility
12.62%
Rank
16 of 17

Beta
0.29
Rank
5 of 17

Standard Deviation
0.93%
Rank
12 of 17

Technicals

  • 20 Day MA $37.46
  • 60 Day MA $37.21
  • MACD 15 Period 0.68
  • MACD 100 Period 0.98
  • Williams % Range 10 Day 5.36
  • Williams % Range 20 Day 16.67
  • RSI 10 Day 63
  • RSI 20 Day 57
  • RSI 30 Day 55
  • Ultimate Oscillator 66

Bollinger Bands

  • Lower Bollinger (10 Day) $36.37
  • Upper Bollinger (10 Day) $37.88
  • Lower Bollinger (20 Day) $36.49
  • Upper Bollinger (20 Day) $38.36
  • Lower Bollinger (30 Day) $36.40
  • Upper Bollinger (30 Day) $38.17

Support & Resistance

  • Support Level 1 $37.45
  • Support Level 2 $36.86
  • Resistance Level 1 $38.39
  • Resistance Level 2 $38.73

Stochastic

  • Stochastic Oscillator %D (1 Day) 75.32
  • Stochastic Oscillator %D (5 Day) 76.22
  • Stochastic Oscillator %K (1 Day) 69.48
  • Stochastic Oscillator %K (5 Day) 58.24

Tradability

  • Tracking Difference Median (%) -0.50
  • Tracking Difference Max Upside (%) -0.34
  • Tracking Difference Max Downside (%) -0.64
  • Median Premium Discount (%) 0.01
  • Maximum Premium Discount (%) 1.45
  • Average Spread (%) 13.16
  • Average Spread ($) 13.16

Financial Advisor Report

ETF Database's Financial Advisor Reports are designed as an easy handout for clients to explain the key information on a fund. Includes new analyst insights and classification data.

Fact Sheet

Fact sheets are issued by the ETF provider and framed by ETF Database. Information contained within the fact sheet is not guaranteed to be timely or accurate.

Data Lineage

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Analyst Report Authors

ETF Database analysts have a combined 50 years in the ETF and Financial markets, covering every asset class and investment style. The team monitors new filings, new launches and new issuers to make sure we place each new ETF in the appropriate context so Financial Advisors can construct high quality portfolios.

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