COPA.L vs. DHS.L

Last updated Jul 16, 2026

COPA.L (WisdomTree Copper) and DHS.L (WisdomTree US High Dividend UCITS ETF USD (Dist)) are both exchange-traded funds - COPA.L is a Copper fund tracking the Bloomberg Copper Subindex, while DHS.L is a Dividend fund tracking the WisdomTree US High Dividend UCITS Index. Both are passively managed. Over the past 10 years, COPA.L returned 9.48%/yr vs 9.40%/yr for DHS.L. At a 0.25 correlation, their price movements are largely independent. COPA.L charges 0.49%/yr vs 0.29%/yr for DHS.L.

Performance

COPA.L vs. DHS.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in WisdomTree Copper (COPA.L) and WisdomTree US High Dividend UCITS ETF USD (Dist) (DHS.L). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

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

Returns By Period

In the year-to-date period, COPA.L achieves a 10.30% return, which is significantly lower than DHS.L's 13.20% return. Both investments have delivered pretty close results over the past 10 years, with COPA.L having a 9.48% annualized return and DHS.L not far behind at 9.40%.

COPA.L

• 1D: -0.35%
• 1M: -2.53%
• 6M: 3.63%
• YTD: 10.30%
• 1Y: 11.97%
• 3Y*: 16.01%
• 5Y*: 7.40%
• 10Y*: 9.48%

DHS.L

• 1D: 0.00%
• 1M: 3.27%
• 6M: 10.13%
• YTD: 13.20%
• 1Y: 23.74%
• 3Y*: 17.56%
• 5Y*: 12.06%
• 10Y*: 9.40%

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

COPA.L vs. DHS.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COPA.L WisdomTree Copper	10.30%	36.38%	4.81%	2.66%	-13.57%	24.34%	21.41%	4.90%	-20.37%	26.81%
DHS.L WisdomTree US High Dividend UCITS ETF USD (Dist)	13.20%	12.68%	18.37%	1.05%	7.10%	24.48%	-4.81%	23.62%	-8.36%	10.96%

Correlation

The correlation between COPA.L and DHS.L is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (3Y) Calculated over the trailing 3-year period	0.13
Correlation (5Y) Calculated over the trailing 5-year period	0.23
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Oct 21, 2014	0.25

The correlation between COPA.L and DHS.L shifts across timeframes, from 0.10 (1 year) to 0.25 (all time), reflecting how their relationship changes across market environments.

Return for Risk

COPA.L vs. DHS.L — Risk / Return Rank

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

COPA.L

COPA.L Risk / Return Rank: 16
COPA.L Sharpe Ratio Rank: 16
COPA.L Sortino Ratio Rank: 15
COPA.L Omega Ratio Rank: 20
COPA.L Calmar Ratio Rank: 16
COPA.L Martin Ratio Rank: 15

DHS.L

DHS.L Risk / Return Rank: 83
DHS.L Sharpe Ratio Rank: 85
DHS.L Sortino Ratio Rank: 85
DHS.L Omega Ratio Rank: 81
DHS.L Calmar Ratio Rank: 83
DHS.L Martin Ratio Rank: 81

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.

COPA.L vs. DHS.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for WisdomTree Copper (COPA.L) and WisdomTree US High Dividend UCITS ETF USD (Dist) (DHS.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.

	COPA.L	DHS.L	Difference
Sharpe ratio: Return per unit of total volatility	0.37	2.29	-1.92
Sortino ratio: Return per unit of downside risk	0.63	3.41	-2.77
Omega ratio: Gain probability vs. loss probability	1.11	1.39	-0.28
Calmar ratio: Return relative to maximum drawdown	0.47	3.00	-2.53
Martin ratio: Return relative to average drawdown	1.00	9.69	-8.69

COPA.L vs. DHS.L - Sharpe Ratio Comparison

The current COPA.L Sharpe Ratio is 0.37, which is lower than the DHS.L Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of COPA.L and DHS.L, 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

COPA.L vs. DHS.L - Drawdown Comparison

The maximum COPA.L drawdown since its inception was -67.44%, which is greater than DHS.L's maximum drawdown of -41.19%. Use the drawdown chart below to compare losses from any high point for COPA.L and DHS.L.

Drawdown Indicators

	COPA.L	DHS.L	Difference
Max Drawdown Largest peak-to-trough decline	-67.44%	-41.19%	-26.25%
Max Drawdown (1Y) Largest decline over 1 year	-25.25%	-8.11%	-17.14%
Max Drawdown (3Y) Largest decline over 3 years	-25.25%	-15.88%	-9.37%
Max Drawdown (5Y) Largest decline over 5 years	-34.64%	-15.88%	-18.76%
Max Drawdown (10Y) Largest decline over 10 years	-38.76%	-36.89%	-1.87%
Current Drawdown Current decline from peak	-5.38%	0.00%	-5.38%
Average Drawdown Average peak-to-trough decline	-33.07%	-13.75%	-19.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.93%	2.52%	+9.41%

Volatility

COPA.L vs. DHS.L - Volatility Comparison

WisdomTree Copper (COPA.L) has a higher volatility of 7.42% compared to WisdomTree US High Dividend UCITS ETF USD (Dist) (DHS.L) at 2.49%. This indicates that COPA.L's price experiences larger fluctuations and is considered to be riskier than DHS.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPA.L	DHS.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.42%	2.49%	+4.93%
Volatility (6M) Calculated over the trailing 6-month period	18.63%	8.04%	+10.59%
Volatility (1Y) Calculated over the trailing 1-year period	32.42%	10.68%	+21.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.26%	14.65%	+11.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.27%	15.39%	+7.88%

COPA.L vs. DHS.L - Expense Ratio Comparison

COPA.L has a 0.49% expense ratio, which is higher than DHS.L's 0.29% expense ratio.

Dividends

COPA.L vs. DHS.L - Dividend Comparison

COPA.L has not paid dividends to shareholders, while DHS.L's dividend yield for the trailing twelve months is around 2.63%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COPA.L WisdomTree Copper	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DHS.L WisdomTree US High Dividend UCITS ETF USD (Dist)	2.63%	2.89%	5.19%	5.19%	2.83%	2.87%	5.63%	4.86%	3.06%	2.70%	2.51%	2.46%

Frequently Asked Questions

Can I hold both COPA.L and DHS.L in my portfolio?

COPA.L and DHS.L have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, COPA.L or DHS.L?

On fees, DHS.L is cheaper at 0.29% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, COPA.L or DHS.L?

DHS.L is cheaper with a 0.29% expense ratio, compared with 0.49% for COPA.L.

What is the main difference between COPA.L and DHS.L?

COPA.L is categorized as Copper, while DHS.L is Dividend. COPA.L tracks Bloomberg Copper Subindex, while DHS.L tracks WisdomTree US High Dividend UCITS Index. Their fees differ too: 0.49% for COPA.L and 0.29% for DHS.L.