BNQV.DE vs. COPA.L
BNQV.DE (BNPP RICI Enhanced Industriemetalle (TR) ETC) and COPA.L (WisdomTree Copper) are both exchange-traded funds - BNQV.DE is a Metals fund tracking the RICI Enhanced Industrial Metals, while COPA.L is a Copper fund tracking the Bloomberg Copper Subindex. Both are passively managed. Over the past 5 years, BNQV.DE returned 7.60%/yr vs 8.34%/yr for COPA.L. A 0.57 correlation means they provide meaningful diversification when combined. BNQV.DE charges 1.00%/yr vs 0.49%/yr for COPA.L.
Performance
BNQV.DE vs. COPA.L - Performance Comparison
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Different Trading Currencies
BNQV.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, BNQV.DE achieves a 9.59% return, which is significantly lower than COPA.L's 12.97% return.
BNQV.DE
- 1D
- 0.00%
- 1M
- -2.35%
- 6M
- 2.35%
- YTD
- 9.59%
- 1Y
- 25.85%
- 3Y*
- 10.08%
- 5Y*
- 7.60%
- 10Y*
- —
COPA.L
- 1D
- 1.01%
- 1M
- -0.79%
- 6M
- 5.58%
- YTD
- 12.97%
- 1Y
- 13.27%
- 3Y*
- 15.19%
- 5Y*
- 8.34%
- 10Y*
- 9.06%
BNQV.DE vs. COPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BNQV.DE BNPP RICI Enhanced Industriemetalle (TR) ETC | 9.59% | 5.40% | 12.60% | -6.20% | 6.27% | 36.61% | 2.07% | 4.99% | -7.33% | 8.45% |
COPA.L WisdomTree Copper | 12.97% | 20.20% | 11.73% | -0.42% | -8.21% | 33.64% | 11.40% | 7.27% | -16.63% | 11.22% |
Correlation
The correlation between BNQV.DE and COPA.L is 0.71, 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 | 0.71 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since Nov 10, 2016 | 0.57 |
The correlation between BNQV.DE and COPA.L shifts across timeframes, from 0.57 (all time) to 0.71 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
BNQV.DE vs. COPA.L — Risk / Return Rank
BNQV.DE
COPA.L
BNQV.DE vs. COPA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNPP RICI Enhanced Industriemetalle (TR) ETC (BNQV.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.
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.
| BNQV.DE | COPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.31 | ||
| Sortino ratioReturn per unit of downside risk | +1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.13 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.39 | 0.55 | +2.83 |
| Martin ratioReturn relative to average drawdown | 9.83 | 1.18 | +8.65 |
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Drawdowns
BNQV.DE vs. COPA.L - Drawdown Comparison
The maximum BNQV.DE drawdown since its inception was -33.62%, smaller than the maximum COPA.L drawdown of -64.88%. Use the drawdown chart below to compare losses from any high point for BNQV.DE and COPA.L.
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Drawdown Indicators
| BNQV.DE | COPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.62% | -64.88% | +31.26% |
Max Drawdown (1Y)Largest decline over 1 year | -7.60% | -23.84% | +16.24% |
Max Drawdown (3Y)Largest decline over 3 years | -17.34% | -23.84% | +6.50% |
Max Drawdown (5Y)Largest decline over 5 years | -33.62% | -28.89% | -4.73% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.88% | — |
Current DrawdownCurrent decline from peak | -9.43% | -4.04% | -5.39% |
Average DrawdownAverage peak-to-trough decline | -14.16% | -26.98% | +12.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.62% | 11.22% | -8.60% |
Volatility
BNQV.DE vs. COPA.L - Volatility Comparison
The current volatility for BNPP RICI Enhanced Industriemetalle (TR) ETC (BNQV.DE) is 4.16%, while WisdomTree Copper (COPA.L) has a volatility of 7.11%. This indicates that BNQV.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
| BNQV.DE | COPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.16% | 7.11% | -2.95% |
Volatility (6M)Calculated over the trailing 6-month period | 11.76% | 17.70% | -5.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.91% | 31.96% | -17.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.38% | 25.13% | -6.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.10% | 22.56% | -6.46% |
BNQV.DE vs. COPA.L - Expense Ratio Comparison
BNQV.DE has a 1.00% expense ratio, which is higher than COPA.L's 0.49% expense ratio.
Dividends
BNQV.DE vs. COPA.L - Dividend Comparison
Neither BNQV.DE nor COPA.L has paid dividends to shareholders.
Frequently Asked Questions
BNQV.DE and COPA.L have a correlation of 0.71, 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 BNQV.DE.
BNQV.DE is categorized as Metals, while COPA.L is Copper. BNQV.DE tracks RICI Enhanced Industrial Metals, while COPA.L tracks Bloomberg Copper Subindex. They also come from different issuers: BNP Paribas and WisdomTree. Their fees differ too: 1.00% for BNQV.DE and 0.49% for COPA.L.
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