COPA.L vs. BRNT.L
COPA.L (WisdomTree Copper) and BRNT.L (WisdomTree Brent Crude Oil) are both exchange-traded funds - COPA.L is a Metals fund tracking the Bloomberg Copper Subindex, while BRNT.L is a Oil & Gas fund tracking the Bloomberg Brent Crude Subindex. Both are passively managed. Over the past 10 years, COPA.L returned 10.33%/yr vs 13.59%/yr for BRNT.L. At a 0.27 correlation, their price movements are largely independent. Both charge a 0.49% expense ratio.
Performance
COPA.L vs. BRNT.L - Performance Comparison
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Returns By Period
In the year-to-date period, COPA.L achieves a 13.93% return, which is significantly lower than BRNT.L's 80.13% return. Over the past 10 years, COPA.L has underperformed BRNT.L with an annualized return of 10.33%, while BRNT.L has yielded a comparatively higher 13.59% annualized return.
COPA.L
- 1D
- 0.27%
- 1M
- 9.03%
- YTD
- 13.93%
- 6M
- 21.07%
- 1Y
- 30.28%
- 3Y*
- 19.08%
- 5Y*
- 7.06%
- 10Y*
- 10.33%
BRNT.L
- 1D
- -2.63%
- 1M
- -9.61%
- YTD
- 80.13%
- 6M
- 76.22%
- 1Y
- 84.62%
- 3Y*
- 24.57%
- 5Y*
- 23.51%
- 10Y*
- 13.59%
COPA.L vs. BRNT.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COPA.L WisdomTree Copper | 13.93% | 36.37% | 4.81% | 2.66% | -13.58% | 24.36% | 21.41% | 4.90% | -20.37% | 26.83% |
BRNT.L WisdomTree Brent Crude Oil | 80.13% | -6.34% | 7.45% | 1.08% | 35.10% | 66.26% | -33.22% | 32.15% | -13.92% | 12.39% |
Correlation
The correlation between COPA.L and BRNT.L is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.12 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.26 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2012 | 0.27 |
The correlation between COPA.L and BRNT.L shifts across timeframes, from -0.12 (1 year) to 0.27 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
COPA.L vs. BRNT.L — Risk / Return Rank
COPA.L
BRNT.L
COPA.L vs. BRNT.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Copper (COPA.L) and WisdomTree Brent Crude Oil (BRNT.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.
| COPA.L | BRNT.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.16 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.36 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 4.51 | -3.32 |
| Martin ratioReturn relative to average drawdown | 2.57 | 8.41 | -5.84 |
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
| COPA.L | BRNT.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 2.00 | -1.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | 0.68 | -0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | 0.39 | +0.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 0.04 | +0.05 |
Drawdowns
COPA.L vs. BRNT.L - Drawdown Comparison
The maximum COPA.L drawdown since its inception was -67.44%, smaller than the maximum BRNT.L drawdown of -85.97%. Use the drawdown chart below to compare losses from any high point for COPA.L and BRNT.L.
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Drawdown Indicators
| COPA.L | BRNT.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.44% | -85.97% | +18.53% |
Max Drawdown (1Y)Largest decline over 1 year | -25.25% | -18.66% | -6.59% |
Max Drawdown (3Y)Largest decline over 3 years | -25.25% | -24.88% | -0.37% |
Max Drawdown (5Y)Largest decline over 5 years | -34.64% | -31.44% | -3.20% |
Max Drawdown (10Y)Largest decline over 10 years | -38.75% | -71.94% | +33.19% |
Current DrawdownCurrent decline from peak | -2.26% | -9.61% | +7.35% |
Average DrawdownAverage peak-to-trough decline | -33.24% | -48.63% | +15.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.73% | 10.02% | +1.71% |
Volatility
COPA.L vs. BRNT.L - Volatility Comparison
The current volatility for WisdomTree Copper (COPA.L) is 8.83%, while WisdomTree Brent Crude Oil (BRNT.L) has a volatility of 15.37%. This indicates that COPA.L experiences smaller price fluctuations and is considered to be less risky than BRNT.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COPA.L | BRNT.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.83% | 15.37% | -6.54% |
Volatility (6M)Calculated over the trailing 6-month period | 18.91% | 36.91% | -18.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.17% | 42.09% | -8.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.20% | 34.68% | -8.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.28% | 35.36% | -12.08% |
COPA.L vs. BRNT.L - Expense Ratio Comparison
Both COPA.L and BRNT.L have an expense ratio of 0.49%.
Dividends
COPA.L vs. BRNT.L - Dividend Comparison
Neither COPA.L nor BRNT.L has paid dividends to shareholders.
Frequently Asked Questions
COPA.L and BRNT.L have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.49% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
COPA.L and BRNT.L have the same expense ratio: 0.49% per year.
COPA.L is categorized as Metals, while BRNT.L is Oil & Gas. COPA.L tracks Bloomberg Copper Subindex, while BRNT.L tracks Bloomberg Brent Crude Subindex.
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