COPA.L vs. ICOP
COPA.L (WisdomTree Copper) and ICOP (iShares Copper and Metals Mining ETF) are both exchange-traded funds - COPA.L is a Metals fund tracking the Bloomberg Copper Subindex, while ICOP is a Commodity Producers Equities fund tracking the STOXX Global Copper and Metals Mining Index. Both are passively managed. Over the past year, COPA.L returned 30.28% vs 98.44% for ICOP. A 0.68 correlation means they provide meaningful diversification when combined. COPA.L charges 0.49%/yr vs 0.47%/yr for ICOP.
Performance
COPA.L vs. ICOP - 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 ICOP's 26.64% 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%
ICOP
- 1D
- -0.51%
- 1M
- 14.31%
- YTD
- 26.64%
- 6M
- 36.12%
- 1Y
- 98.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
COPA.L vs. ICOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
COPA.L WisdomTree Copper | 13.93% | 36.37% | 4.81% | 2.71% |
ICOP iShares Copper and Metals Mining ETF | 26.64% | 78.01% | 1.10% | 8.08% |
Correlation
The correlation between COPA.L and ICOP is 0.69, 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 | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jun 26, 2023 | 0.68 |
The correlation between COPA.L and ICOP has been stable across timeframes, ranging from 0.68 to 0.69 - a consistent structural relationship.
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Return for Risk
COPA.L vs. ICOP — Risk / Return Rank
COPA.L
ICOP
COPA.L vs. ICOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Copper (COPA.L) and iShares Copper and Metals Mining ETF (ICOP). 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 | ICOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.75 | ||
| Sortino ratioReturn per unit of downside risk | -1.79 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.40 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 3.79 | -2.59 |
| Martin ratioReturn relative to average drawdown | 2.57 | 13.91 | -11.33 |
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 | ICOP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 2.66 | -1.75 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | 1.07 | -0.98 |
Drawdowns
COPA.L vs. ICOP - Drawdown Comparison
The maximum COPA.L drawdown since its inception was -67.44%, which is greater than ICOP's maximum drawdown of -38.67%. Use the drawdown chart below to compare losses from any high point for COPA.L and ICOP.
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Drawdown Indicators
| COPA.L | ICOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.44% | -38.67% | -28.77% |
Max Drawdown (1Y)Largest decline over 1 year | -25.25% | -26.13% | +0.88% |
Max Drawdown (3Y)Largest decline over 3 years | -25.25% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -34.64% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -38.75% | — | — |
Current DrawdownCurrent decline from peak | -2.26% | -3.78% | +1.52% |
Average DrawdownAverage peak-to-trough decline | -33.24% | -11.66% | -21.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.73% | 7.10% | +4.63% |
Volatility
COPA.L vs. ICOP - Volatility Comparison
The current volatility for WisdomTree Copper (COPA.L) is 8.83%, while iShares Copper and Metals Mining ETF (ICOP) has a volatility of 13.69%. This indicates that COPA.L experiences smaller price fluctuations and is considered to be less risky than ICOP 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 | ICOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.83% | 13.69% | -4.86% |
Volatility (6M)Calculated over the trailing 6-month period | 18.91% | 32.29% | -13.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.17% | 37.29% | -4.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.20% | 33.75% | -7.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.28% | 33.75% | -10.47% |
COPA.L vs. ICOP - Expense Ratio Comparison
COPA.L has a 0.49% expense ratio, which is higher than ICOP's 0.47% expense ratio.
Dividends
COPA.L vs. ICOP - Dividend Comparison
COPA.L has not paid dividends to shareholders, while ICOP's dividend yield for the trailing twelve months is around 1.64%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
COPA.L WisdomTree Copper | 0.00% | 0.00% | 0.00% | 0.00% |
ICOP iShares Copper and Metals Mining ETF | 1.64% | 2.08% | 1.87% | 2.15% |
Frequently Asked Questions
COPA.L and ICOP have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICOP is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICOP is cheaper with a 0.47% expense ratio, compared with 0.49% for COPA.L.
COPA.L is categorized as Metals, while ICOP is Commodity Producers Equities. COPA.L tracks Bloomberg Copper Subindex, while ICOP tracks STOXX Global Copper and Metals Mining Index. They also come from different issuers: WisdomTree and iShares. Their fees differ too: 0.49% for COPA.L and 0.47% for ICOP.
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