What is COW?

COW tracks an index of lean hogs and live cattle commodity futures contracts, rolled according to a fixed schedule.

PERFORMANCE [as of 03/28/23] 1 MONTH 3 MONTHS YTD 1 YEAR 3 YEARS 5 YEARS 10 YEARS
COW -3.23% -6.21% -5.28% -5.57% 5.29% -3.58% --
COW (NAV) -3.22% -6.18% -5.21% -5.66% 5.07% -3.52% --
Bloomberg Livestock Subindex -3.18% -6.07% -5.11% -5.24% 5.54% -3.08% -3.04%
S&P GSCI Livestock Index -- -- -- -- -- -- --
All returns over 1 year are annualized. All returns are total returns unless otherwise stated.

COW Factset Analytics Insight

COW is a livestock ETN that tracks an index comprised of lean hogs and live cattle futures contracts. That differs from our benchmark, which incorporates all three types of livestock contracts: lean hogs, live cattle, and feeder cattle. The index typically rolls its contracts every other month, except in May and June when the lean hog exposure rolls into the front-month contract to allow for greater contract liquidity during the summer trading season. As an ETN, COW does not issue a K-1 form at tax time, but carries the counterparty risk of issuer Barclays. COW replaced an older ETN with the same ticker. The newer, series B note tracks the same index, but avoids path dependency issues. It also includes a call provision. The new version traded under the ticker COWB until November 16, 2018.

COW Summary Data

01/17/18
0.45%
$12.24M
Bloomberg Livestock Subindex
S&P GSCI Livestock Index
Exchange-Traded Note

Peers

S&P GSCI Livestock Index
N/A

Fund Flows

-- 5 Days
-- 30 Days
-- 90 Days

COW Portfolio Data

Futures
Front Month
Annually
--

COW Index Data

Bloomberg Livestock Subindex
Multi-Factor
Fixed
S&P GSCI Livestock Index

COW Portfolio Management

0.45%
-0.46%
-0.42%
-0.51%

COW Tax Exposures

20.00% / 39.60%
--
No

COW Fund Structure

Exchange-Traded Note
Yes
N/A
Barclays Bank PLC
Low
High
None

Factset Analytics Block Liquidity

As of 03/29/23

This measurement shows how easy it is to trade a $1 million USD block of COW. COW is rated a 5 out of 5.

COW Tradability

7,522
$292.52K
2,113
$82.39K
0.41%
$0.16
-0.01%
1.43% / -0.87%
None
100.00%
50,000
0.04
0.08%
--
88
$38.27
5

COW Performance Statistics

--
--
--
--
0.00%

COW Tenor Strategy

COW invests solely in second-month futures contracts. This means that the fund will be particularly sensitive to changes in spot prices, but may be priced higher or lower than spot, sometimes dramatically.

COW Rolling Strategy

COW rolls contracts over an annually pre-determined 5 day period each month.