BHP vs. COPX
BHP (BHP Group Limited) is a stock, while COPX (Global X Copper Miners ETF) is Copper fund tracking the Solactive Global Copper Miners Total Return Index. Over the past 10 years, BHP returned 22.44%/yr vs 21.55%/yr for COPX. A 0.79 correlation means they provide meaningful diversification when combined.
Performance
BHP vs. COPX - Performance Comparison
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Returns By Period
In the year-to-date period, BHP achieves a 52.62% return, which is significantly higher than COPX's 20.85% return. Both investments have delivered pretty close results over the past 10 years, with BHP having a 22.44% annualized return and COPX not far behind at 21.55%.
BHP
- 1D
- -2.32%
- 1M
- 7.55%
- YTD
- 52.62%
- 6M
- 56.04%
- 1Y
- 97.10%
- 3Y*
- 18.13%
- 5Y*
- 18.52%
- 10Y*
- 22.44%
COPX
- 1D
- -3.37%
- 1M
- 6.00%
- YTD
- 20.85%
- 6M
- 29.16%
- 1Y
- 107.73%
- 3Y*
- 32.97%
- 5Y*
- 22.99%
- 10Y*
- 21.55%
BHP vs. COPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BHP BHP Group Limited | 52.62% | 28.91% | -24.64% | 16.50% | 44.34% | 0.91% | 25.37% | 24.50% | 10.55% | 33.87% |
COPX Global X Copper Miners ETF | 20.85% | 93.50% | 3.57% | 8.38% | -0.76% | 23.39% | 51.66% | 12.48% | -31.31% | 38.92% |
Correlation
The correlation between BHP and COPX is 0.75, 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 | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2010 | 0.79 |
The correlation between BHP and COPX has been stable across timeframes, ranging from 0.74 to 0.79 - a consistent structural relationship.
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Return for Risk
BHP vs. COPX — Risk / Return Rank
BHP
COPX
BHP vs. COPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BHP Group Limited (BHP) and Global X Copper Miners ETF (COPX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BHP | COPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.56 | ||
| Sortino ratioReturn per unit of downside risk | +0.78 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.37 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.93 | 3.89 | +1.04 |
| Martin ratioReturn relative to average drawdown | 18.38 | 12.00 | +6.38 |
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Drawdowns
BHP vs. COPX - Drawdown Comparison
The maximum BHP drawdown since its inception was -76.22%, smaller than the maximum COPX drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for BHP and COPX.
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Drawdown Indicators
| BHP | COPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.22% | -83.16% | +6.94% |
Max Drawdown (1Y)Largest decline over 1 year | -19.80% | -27.82% | +8.02% |
Max Drawdown (3Y)Largest decline over 3 years | -37.21% | -39.72% | +2.51% |
Max Drawdown (5Y)Largest decline over 5 years | -37.21% | -42.12% | +4.91% |
Max Drawdown (10Y)Largest decline over 10 years | -44.29% | -65.41% | +21.12% |
Current DrawdownCurrent decline from peak | -3.00% | -9.34% | +6.34% |
Average DrawdownAverage peak-to-trough decline | -21.28% | -39.26% | +17.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.30% | 9.01% | -3.71% |
Volatility
BHP vs. COPX - Volatility Comparison
The current volatility for BHP Group Limited (BHP) is 12.66%, while Global X Copper Miners ETF (COPX) has a volatility of 18.40%. This indicates that BHP experiences smaller price fluctuations and is considered to be less risky than COPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BHP | COPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.66% | 18.40% | -5.74% |
Volatility (6M)Calculated over the trailing 6-month period | 26.71% | 38.50% | -11.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.34% | 43.98% | -11.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.40% | 36.94% | -4.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.33% | 35.76% | -3.43% |
Dividends
BHP vs. COPX - Dividend Comparison
BHP's dividend yield for the trailing twelve months is around 2.94%, more than COPX's 2.22% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BHP BHP Group Limited | 2.94% | 3.64% | 5.98% | 4.98% | 22.44% | 9.98% | 3.67% | 8.59% | 4.89% | 3.61% | 1.68% | 9.38% |
COPX Global X Copper Miners ETF | 2.22% | 2.68% | 1.80% | 2.39% | 3.14% | 1.48% | 1.30% | 1.37% | 2.59% | 1.57% | 0.60% | 1.20% |
Frequently Asked Questions
BHP and COPX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COPX has higher volatility (18.40%) compared to BHP (12.66%). In terms of maximum drawdown, BHP dropped -76.22% vs COPX's -83.16%.
BHP currently has the higher Sharpe Ratio (3.03 vs 2.47), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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