BNQP.DE vs. COPA.L
BNQP.DE (BNPP RICI Kupfer (TR) Enhanced ETC) and COPA.L (WisdomTree Copper) are both Metals funds - BNQP.DE tracks the RICI Enhanced Copper while COPA.L tracks the Bloomberg Copper Subindex. Both are passively managed. Over the past 5 years, BNQP.DE returned 9.93%/yr vs 8.05%/yr for COPA.L. Their correlation of 0.88 suggests significant overlap in exposure. BNQP.DE charges 1.00%/yr vs 0.49%/yr for COPA.L.
Performance
BNQP.DE vs. COPA.L - Performance Comparison
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Different Trading Currencies
BNQP.DE is traded in EUR, while COPA.L is traded in USD. To make them comparable, the COPA.L values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, BNQP.DE achieves a 12.82% return, which is significantly lower than COPA.L's 15.23% return.
BNQP.DE
- 1D
- 0.72%
- 1M
- 6.09%
- YTD
- 12.82%
- 6M
- 23.25%
- 1Y
- 42.24%
- 3Y*
- 17.47%
- 5Y*
- 9.93%
- 10Y*
- —
COPA.L
- 1D
- 0.13%
- 1M
- 9.76%
- YTD
- 15.23%
- 6M
- 21.40%
- 1Y
- 28.09%
- 3Y*
- 15.92%
- 5Y*
- 8.05%
- 10Y*
- 10.09%
BNQP.DE vs. COPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BNQP.DE BNPP RICI Kupfer (TR) Enhanced ETC | 12.82% | 20.92% | 16.44% | 2.18% | -3.18% | 31.64% | 12.34% | 7.41% | -13.56% | 16.95% |
COPA.L WisdomTree Copper | 15.23% | 20.19% | 11.73% | -0.42% | -8.23% | 33.66% | 11.40% | 7.27% | -16.63% | 11.25% |
Correlation
The correlation between BNQP.DE and COPA.L is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.85 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.84 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Oct 18, 2016 | 0.88 |
The correlation between BNQP.DE and COPA.L has been stable across timeframes, ranging from 0.84 to 0.88 - a consistent structural relationship.
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Return for Risk
BNQP.DE vs. COPA.L — Risk / Return Rank
BNQP.DE
COPA.L
BNQP.DE vs. COPA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNPP RICI Kupfer (TR) Enhanced ETC (BNQP.DE) 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.
| BNQP.DE | COPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.35 | ||
| Sortino ratioReturn per unit of downside risk | +1.91 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.22 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 4.87 | 1.17 | +3.70 |
| Martin ratioReturn relative to average drawdown | 16.92 | 2.52 | +14.40 |
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
| BNQP.DE | COPA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.21 | 0.85 | +1.35 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.32 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.45 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.11 | +0.55 |
Drawdowns
BNQP.DE vs. COPA.L - Drawdown Comparison
The maximum BNQP.DE drawdown since its inception was -29.03%, smaller than the maximum COPA.L drawdown of -65.69%. Use the drawdown chart below to compare losses from any high point for BNQP.DE and COPA.L.
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Drawdown Indicators
| BNQP.DE | COPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.03% | -65.69% | +36.66% |
Max Drawdown (1Y)Largest decline over 1 year | -8.63% | -23.84% | +15.21% |
Max Drawdown (3Y)Largest decline over 3 years | -17.93% | -23.84% | +5.91% |
Max Drawdown (5Y)Largest decline over 5 years | -25.14% | -28.90% | +3.76% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.86% | — |
Current DrawdownCurrent decline from peak | -1.26% | -2.13% | +0.87% |
Average DrawdownAverage peak-to-trough decline | -9.15% | -27.13% | +17.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.49% | 11.11% | -8.62% |
Volatility
BNQP.DE vs. COPA.L - Volatility Comparison
The current volatility for BNPP RICI Kupfer (TR) Enhanced ETC (BNQP.DE) is 5.70%, while WisdomTree Copper (COPA.L) has a volatility of 8.24%. This indicates that BNQP.DE 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
| BNQP.DE | COPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.70% | 8.24% | -2.54% |
Volatility (6M)Calculated over the trailing 6-month period | 15.31% | 18.23% | -2.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.07% | 32.80% | -13.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.11% | 25.10% | -5.99% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.78% | 22.55% | -3.77% |
BNQP.DE vs. COPA.L - Expense Ratio Comparison
BNQP.DE has a 1.00% expense ratio, which is higher than COPA.L's 0.49% expense ratio.
Dividends
BNQP.DE vs. COPA.L - Dividend Comparison
Neither BNQP.DE nor COPA.L has paid dividends to shareholders.
Frequently Asked Questions
BNQP.DE and COPA.L have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, COPA.L is cheaper at 0.49% per year. The better choice depends on whether you care most about return, fees, risk, or income.
COPA.L is cheaper with a 0.49% expense ratio, compared with 1.00% for BNQP.DE.
BNQP.DE tracks RICI Enhanced Copper, while COPA.L tracks Bloomberg Copper Subindex. They also come from different issuers: BNP Paribas and WisdomTree. Their fees differ too: 1.00% for BNQP.DE and 0.49% for COPA.L.
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