CMU.L vs. COPX

Last updated Jul 21, 2026

CMU.L (Amundi ETF MSCI EMU ESG Leaders Select) and COPX (Global X Copper Miners ETF) are both exchange-traded funds - CMU.L is a Europe Equities fund tracking the MSCI EMU NR EUR, while COPX is a Copper fund tracking the Solactive Global Copper Miners Total Return Index. Both are passively managed. Over the past 10 years, CMU.L returned 10.12%/yr vs 18.10%/yr for COPX. At a 0.44 correlation, their price movements are largely independent. CMU.L charges 0.15%/yr vs 0.65%/yr for COPX.

Performance

CMU.L vs. COPX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in Amundi ETF MSCI EMU ESG Leaders Select (CMU.L) and Global X Copper Miners ETF (COPX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

CMU.L is traded in GBp, while COPX is traded in USD. To make them comparable, the COPX values have been converted to GBp using the latest available exchange rates.

Returns By Period

In the year-to-date period, CMU.L achieves a 15.46% return, which is significantly higher than COPX's 3.54% return. Over the past 10 years, CMU.L has underperformed COPX with an annualized return of 10.12%, while COPX has yielded a comparatively higher 18.10% annualized return.

CMU.L

• 1D: 0.09%
• 1M: -3.51%
• 6M: 14.95%
• YTD: 15.46%
• 1Y: 26.13%
• 3Y*: 14.82%
• 5Y*: 10.51%
• 10Y*: 10.12%
• ALL TIME*: 8.12%

COPX

• 1D: 0.85%
• 1M: -14.75%
• 6M: -8.63%
• YTD: 3.54%
• 1Y: 72.74%
• 3Y*: 24.37%
• 5Y*: 18.99%
• 10Y*: 18.10%
• ALL TIME*: 6.23%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CMU.L vs. COPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMU.L Amundi ETF MSCI EMU ESG Leaders Select	15.46%	25.71%	1.42%	14.39%	-5.30%	13.03%	4.59%	19.05%	-11.56%	17.21%
COPX Global X Copper Miners ETF	3.54%	79.71%	5.38%	2.96%	11.04%	24.55%	47.20%	8.20%	-27.23%	26.91%

Correlation

The correlation between CMU.L and COPX is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (3Y) Calculated over the trailing 3-year period	0.37
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (10Y) Calculated over the trailing 10-year period	0.41
Correlation (All Time) Calculated using the full available price history since May 9, 2011	0.44

CMU.L vs. COPX - Sectors Allocation Comparison

Sectors	CMU.L	COPX
Financial Services	28.4%	-
Technology	20.7%	-
Industrials	16.7%	3.1%
Consumer Cyclical	10.5%	-
Utilities	6.4%	-
Consumer Defensive	6.1%	-
Healthcare	4.5%	-
Basic Materials	3.5%	96.9%
Communication Services	2.2%	-
Real Estate	1.0%	-
Energy	0.0%	-

Return for Risk

CMU.L vs. COPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CMU.L

CMU.L Risk / Return Rank: 69
CMU.L Sharpe Ratio Rank: 73
CMU.L Sortino Ratio Rank: 73
CMU.L Omega Ratio Rank: 73
CMU.L Calmar Ratio Rank: 62
CMU.L Martin Ratio Rank: 65

COPX

COPX Risk / Return Rank: 61
COPX Sharpe Ratio Rank: 66
COPX Sortino Ratio Rank: 56
COPX Omega Ratio Rank: 56
COPX Calmar Ratio Rank: 71
COPX Martin Ratio Rank: 54

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CMU.L vs. COPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amundi ETF MSCI EMU ESG Leaders Select (CMU.L) 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.

	CMU.L	COPX	Difference
Sharpe ratio: Return per unit of total volatility	1.73	1.71	+0.02
Sortino ratio: Return per unit of downside risk	2.48	2.13	+0.34
Omega ratio: Gain probability vs. loss probability	1.32	1.28	+0.04
Calmar ratio: Return relative to maximum drawdown	2.28	2.70	-0.42
Martin ratio: Return relative to average drawdown	8.43	7.18	+1.25

CMU.L vs. COPX - Sharpe Ratio Comparison

The current CMU.L Sharpe Ratio is 1.73, which is comparable to the COPX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of CMU.L and COPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CMU.L vs. COPX - Drawdown Comparison

The maximum CMU.L drawdown since its inception was -31.46%, smaller than the maximum COPX drawdown of -81.19%. Use the drawdown chart below to compare losses from any high point for CMU.L and COPX.

Drawdown Indicators

	CMU.L	COPX	Difference
Max Drawdown Largest peak-to-trough decline	-31.46%	-81.19%	+49.73%
Max Drawdown (1Y) Largest decline over 1 year	-11.43%	-27.06%	+15.63%
Max Drawdown (3Y) Largest decline over 3 years	-11.95%	-40.03%	+28.08%
Max Drawdown (5Y) Largest decline over 5 years	-21.11%	-40.03%	+18.92%
Max Drawdown (10Y) Largest decline over 10 years	-31.41%	-59.06%	+27.65%
Current Drawdown Current decline from peak	-3.81%	-22.28%	+18.47%
Average Drawdown Average peak-to-trough decline	-6.61%	-34.86%	+28.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.09%	10.16%	-7.07%

Volatility

CMU.L vs. COPX - Volatility Comparison

The current volatility for Amundi ETF MSCI EMU ESG Leaders Select (CMU.L) is 3.79%, while Global X Copper Miners ETF (COPX) has a volatility of 12.94%. This indicates that CMU.L 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.

Volatility by Period

	CMU.L	COPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	12.94%	-9.15%
Volatility (6M) Calculated over the trailing 6-month period	12.80%	37.15%	-24.35%
Volatility (1Y) Calculated over the trailing 1-year period	15.08%	42.84%	-27.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.99%	33.87%	-17.88%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.68%	33.55%	-16.87%

CMU.L vs. COPX - Expense Ratio Comparison

CMU.L has a 0.15% expense ratio, which is lower than COPX's 0.65% expense ratio.

Dividends

CMU.L vs. COPX - Dividend Comparison

CMU.L has not paid dividends to shareholders, while COPX's dividend yield for the trailing twelve months is around 2.61%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMU.L Amundi ETF MSCI EMU ESG Leaders Select	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
COPX Global X Copper Miners ETF	2.61%	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

Can I hold both CMU.L and COPX in my portfolio?

CMU.L and COPX have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CMU.L or COPX?

On fees, CMU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CMU.L or COPX?

CMU.L is cheaper with a 0.15% expense ratio, compared with 0.65% for COPX.

What is the main difference between CMU.L and COPX?

CMU.L is categorized as Europe Equities, while COPX is Copper. CMU.L tracks MSCI EMU NR EUR, while COPX tracks Solactive Global Copper Miners Total Return Index. They also come from different issuers: Amundi and Global X. Their fees differ too: 0.15% for CMU.L and 0.65% for COPX.