CBE3.L vs. COPA.L
CBE3.L (iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc)) and COPA.L (WisdomTree Copper) are both exchange-traded funds - CBE3.L is a Short-Term Bond fund tracking the Bloomberg Euro Government Bond 1-3 Year Index, while COPA.L is a Metals fund tracking the Bloomberg Copper Subindex. Both are passively managed. Over the past 10 years, CBE3.L returned 0.36%/yr vs 10.09%/yr for COPA.L. At a 0.04 correlation, their price movements are largely independent. CBE3.L charges 0.20%/yr vs 0.49%/yr for COPA.L.
Performance
CBE3.L vs. COPA.L - Performance Comparison
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Different Trading Currencies
CBE3.L 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, CBE3.L achieves a 0.13% return, which is significantly lower than COPA.L's 15.23% return. Over the past 10 years, CBE3.L has underperformed COPA.L with an annualized return of 0.36%, while COPA.L has yielded a comparatively higher 10.09% annualized return.
CBE3.L
- 1D
- 0.04%
- 1M
- 0.24%
- YTD
- 0.13%
- 6M
- 0.25%
- 1Y
- 0.94%
- 3Y*
- 2.70%
- 5Y*
- 0.81%
- 10Y*
- 0.36%
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%
CBE3.L vs. COPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CBE3.L iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) | 0.13% | 2.27% | 3.11% | 3.46% | -4.26% | -0.83% | -0.15% | 0.18% | -0.33% | 0.06% |
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 CBE3.L and COPA.L is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since May 14, 2013 | 0.04 |
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Return for Risk
CBE3.L vs. COPA.L — Risk / Return Rank
CBE3.L
COPA.L
CBE3.L vs. COPA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.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.
| CBE3.L | COPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | +0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.22 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 0.85 | 1.17 | -0.32 |
| Martin ratioReturn relative to average drawdown | 2.81 | 2.52 | +0.29 |
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
| CBE3.L | COPA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.79 | 0.85 | -0.06 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.32 | +0.21 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.28 | 0.45 | -0.16 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.11 | +0.33 |
Drawdowns
CBE3.L vs. COPA.L - Drawdown Comparison
The maximum CBE3.L drawdown since its inception was -6.12%, smaller than the maximum COPA.L drawdown of -65.69%. Use the drawdown chart below to compare losses from any high point for CBE3.L and COPA.L.
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Drawdown Indicators
| CBE3.L | COPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.12% | -65.69% | +59.57% |
Max Drawdown (1Y)Largest decline over 1 year | -1.10% | -23.84% | +22.74% |
Max Drawdown (3Y)Largest decline over 3 years | -1.10% | -23.84% | +22.74% |
Max Drawdown (5Y)Largest decline over 5 years | -5.19% | -28.90% | +23.71% |
Max Drawdown (10Y)Largest decline over 10 years | -6.12% | -31.86% | +25.74% |
Current DrawdownCurrent decline from peak | -0.42% | -2.13% | +1.71% |
Average DrawdownAverage peak-to-trough decline | -1.06% | -27.13% | +26.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.34% | 11.11% | -10.77% |
Volatility
CBE3.L vs. COPA.L - Volatility Comparison
The current volatility for iShares € Govt Bond 1-3yr UCITS ETF EUR (Acc) (CBE3.L) is 0.41%, while WisdomTree Copper (COPA.L) has a volatility of 8.24%. This indicates that CBE3.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
| CBE3.L | COPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 8.24% | -7.83% |
Volatility (6M)Calculated over the trailing 6-month period | 1.08% | 18.23% | -17.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.19% | 32.80% | -31.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.51% | 25.10% | -23.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.28% | 22.55% | -21.27% |
CBE3.L vs. COPA.L - Expense Ratio Comparison
CBE3.L has a 0.20% expense ratio, which is lower than COPA.L's 0.49% expense ratio.
Dividends
CBE3.L vs. COPA.L - Dividend Comparison
Neither CBE3.L nor COPA.L has paid dividends to shareholders.
Frequently Asked Questions
CBE3.L and COPA.L have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, CBE3.L is cheaper at 0.20% per year. The better choice depends on whether you care most about return, fees, risk, or income.
CBE3.L is cheaper with a 0.20% expense ratio, compared with 0.49% for COPA.L.
CBE3.L is categorized as Short-Term Bond, while COPA.L is Metals. CBE3.L tracks Bloomberg Euro Government Bond 1-3 Year Index, while COPA.L tracks Bloomberg Copper Subindex. They also come from different issuers: iShares and WisdomTree. Their fees differ too: 0.20% for CBE3.L and 0.49% for COPA.L.
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