A lubricating composition comprising: (a) 15 wt % to 99.9 wt % of an oil of lubricating viscosity; (b) 0.01 wt % to 15 wt % of a friction modifier, wherein the friction modifier comprises at least one of an amide of a hydroxyalkyl compound, a condensation product of a fatty acid and an amine, a borated glycerol ester, a fatty phosphite, a fatty acid amide, a fatty epoxide, a borated fatty epoxide, an alkoxylated fatty amine, a borated alkoxylated fatty amine, a metal salt of a fatty acid, a fatty imidazoline, an amine salt of an alkylphosphoric acid, a polyalkoxylated alcohol, or mixtures thereof; (c) 0.001 wt % to 10 wt % of a corrosion inhibitor, wherein the corrosion inhibitor comprises octylamine octanoate, condensation products of dodecenyl succinic acid or anhydride, a dimercaptothiadiazole or mixtures thereof; (d) 0.01 wt % to 15 wt % of an anti wear agent, wherein the anti wear agent comprises metal thiophosphates, phosphoric acid esters or salts thereof, hydrocarbyl-substituted phosphites, phosphorus-containing carboxylic esters, phosphorus-containing carboxylic ethers, and phosphorus-containing carboxylic amides, or mixtures thereof; and (e) 0.1 wt % to 20 wt % of a product prepared by heating together: (i) a dispersant; (ii) 2,5-dimercapto-1,3,4-thiadiazole or a hydrocarbyl-substituted 2,5-dimercapto-1,3,4-thiadiazole, or oligomers thereof; (iii) a borating agent; (iv) a dicarboxylic acid of an aromatic compound selected from the group consisting of 1,3 diacids and 1,4 diacids; and (v) optionally a phosphorus acid compound, said heating being sufficient to provide a product of (i), (ii), (iii), (iv) and optionally (v), which is soluble in an oil of lubricating viscosity, wherein said heating is at 80-200°C for at least 0.5 hours, wherein the relative amounts of the components which are reacted are, expressed as parts by weight prior to reaction, 100 parts of (i), 5-5000 parts per million of (iv), 0.75 to 6 parts of (ii), 0.01 to 7.5 parts of (iii) and 0 to 7.5 parts of (v), provided that the relative amount of (ii) + (iii) + (iv) + (v) is at least 1.5 parts. (a) 15 wt % to 99.9 wt % of an oil of lubricating viscosity; (b) 0.01 wt % to 15 wt % of a friction modifier, wherein the friction modifier comprises at least one of an amide of a hydroxyalkyl compound, a condensation product of a fatty acid and an amine, a borated glycerol ester, a fatty phosphite, a fatty acid amide, a fatty epoxide, a borated fatty epoxide, an alkoxylated fatty amine, a borated alkoxylated fatty amine, a metal salt of a fatty acid, a fatty imidazoline, an amine salt of an alkylphosphoric acid, a polyalkoxylated alcohol, or mixtures thereof; (c) 0.001 wt % to 10 wt % of a corrosion inhibitor, wherein the corrosion inhibitor comprises octylamine octanoate, condensation products of dodecenyl succinic acid or anhydride, a dimercaptothiadiazole or mixtures thereof; (d) 0.01 wt % to 15 wt % of an anti wear agent, wherein the anti wear agent comprises metal thiophosphates, phosphoric acid esters or salts thereof, hydrocarbyl-substituted phosphites, phosphorus-containing carboxylic esters, phosphorus-containing carboxylic ethers, and phosphorus-containing carboxylic amides, or mixtures thereof; and (e) 0.1 wt % to 20 wt % of a product prepared by heating together: (i) a dispersant; (ii) 2,5-dimercapto-1,3,4-thiadiazole or a hydrocarbyl-substituted 2,5-dimercapto-1,3,4-thiadiazole, or oligomers thereof; (iii) a borating agent; (iv) a dicarboxylic acid of an aromatic compound selected from the group consisting of 1,3 diacids and 1,4 diacids; and (v) optionally a phosphorus acid compound, (i) a dispersant; (ii) 2,5-dimercapto-1,3,4-thiadiazole or a hydrocarbyl-substituted 2,5-dimercapto-1,3,4-thiadiazole, or oligomers thereof; (iii) a borating agent; (iv) a dicarboxylic acid of an aromatic compound selected from the group consisting of 1,3 diacids and 1,4 diacids; and (v) optionally a phosphorus acid compound,