ALUM.L vs. COPA.L
ALUM.L (WisdomTree Aluminium) and COPA.L (WisdomTree Copper) are both Metals funds from WisdomTree - ALUM.L tracks the Bloomberg Aluminum while COPA.L tracks the Bloomberg Copper Subindex. Both are passively managed. Over the past 10 years, ALUM.L returned 6.81%/yr vs 10.33%/yr for COPA.L. A 0.51 correlation means they provide meaningful diversification when combined. Both charge a 0.49% expense ratio.
Performance
ALUM.L vs. COPA.L - Performance Comparison
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Returns By Period
In the year-to-date period, ALUM.L achieves a 25.85% return, which is significantly higher than COPA.L's 13.93% return. Over the past 10 years, ALUM.L has underperformed COPA.L with an annualized return of 6.81%, while COPA.L has yielded a comparatively higher 10.33% annualized return.
ALUM.L
- 1D
- -0.93%
- 1M
- 2.73%
- YTD
- 25.85%
- 6M
- 29.08%
- 1Y
- 52.01%
- 3Y*
- 17.40%
- 5Y*
- 7.40%
- 10Y*
- 6.81%
COPA.L
- 1D
- 0.27%
- 1M
- 9.03%
- YTD
- 13.93%
- 6M
- 21.07%
- 1Y
- 30.28%
- 3Y*
- 19.08%
- 5Y*
- 7.06%
- 10Y*
- 10.33%
ALUM.L vs. COPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ALUM.L WisdomTree Aluminium | 25.85% | 17.98% | 4.62% | -4.48% | -15.92% | 38.11% | 1.95% | -3.12% | -18.30% | 29.16% |
COPA.L WisdomTree Copper | 13.93% | 36.37% | 4.81% | 2.66% | -13.58% | 24.36% | 21.41% | 4.90% | -20.37% | 26.83% |
Correlation
The correlation between ALUM.L and COPA.L is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.53 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.52 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2007 | 0.51 |
The correlation between ALUM.L and COPA.L has been stable across timeframes, ranging from 0.51 to 0.56 - a consistent structural relationship.
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Return for Risk
ALUM.L vs. COPA.L — Risk / Return Rank
ALUM.L
COPA.L
ALUM.L vs. COPA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Aluminium (ALUM.L) and WisdomTree Copper (COPA.L). 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.
| ALUM.L | COPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.94 | ||
| Sortino ratioReturn per unit of downside risk | +2.64 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 1.22 | +0.26 |
| Calmar ratioReturn relative to maximum drawdown | 5.84 | 1.19 | +4.65 |
| Martin ratioReturn relative to average drawdown | 20.87 | 2.57 | +18.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ALUM.L | COPA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.85 | 0.91 | +1.94 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.32 | 0.27 | +0.05 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.34 | 0.44 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.11 | 0.09 | -0.20 |
Drawdowns
ALUM.L vs. COPA.L - Drawdown Comparison
The maximum ALUM.L drawdown since its inception was -77.63%, which is greater than COPA.L's maximum drawdown of -67.44%. Use the drawdown chart below to compare losses from any high point for ALUM.L and COPA.L.
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Drawdown Indicators
| ALUM.L | COPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.63% | -67.44% | -10.19% |
Max Drawdown (1Y)Largest decline over 1 year | -8.86% | -25.25% | +16.39% |
Max Drawdown (3Y)Largest decline over 3 years | -20.63% | -25.25% | +4.62% |
Max Drawdown (5Y)Largest decline over 5 years | -47.34% | -34.64% | -12.70% |
Max Drawdown (10Y)Largest decline over 10 years | -47.34% | -38.75% | -8.59% |
Current DrawdownCurrent decline from peak | -49.28% | -2.26% | -47.02% |
Average DrawdownAverage peak-to-trough decline | -58.59% | -33.24% | -25.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.48% | 11.73% | -9.25% |
Volatility
ALUM.L vs. COPA.L - Volatility Comparison
The current volatility for WisdomTree Aluminium (ALUM.L) is 6.12%, while WisdomTree Copper (COPA.L) has a volatility of 8.83%. This indicates that ALUM.L experiences smaller price fluctuations and is considered to be less risky than COPA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ALUM.L | COPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.12% | 8.83% | -2.71% |
Volatility (6M)Calculated over the trailing 6-month period | 15.69% | 18.91% | -3.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.20% | 33.17% | -14.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.79% | 26.20% | -3.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.01% | 23.28% | -3.27% |
ALUM.L vs. COPA.L - Expense Ratio Comparison
Both ALUM.L and COPA.L have an expense ratio of 0.49%.
Dividends
ALUM.L vs. COPA.L - Dividend Comparison
Neither ALUM.L nor COPA.L has paid dividends to shareholders.
Frequently Asked Questions
ALUM.L and COPA.L have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.49% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
ALUM.L and COPA.L have the same expense ratio: 0.49% per year.
ALUM.L tracks Bloomberg Aluminum, while COPA.L tracks Bloomberg Copper Subindex.
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