COPA.L vs. META.L
COPA.L (WisdomTree Copper) and META.L (WisdomTree Industrial Metals Enhanced) are both Metals funds from WisdomTree - COPA.L tracks the Bloomberg Copper Subindex while META.L tracks the Optimised Roll Industrial Metals. Both are passively managed. Over the past 3 years, COPA.L returned 19.08%/yr vs 11.40%/yr for META.L. A 0.79 correlation means they provide meaningful diversification when combined. COPA.L charges 0.49%/yr vs 0.40%/yr for META.L.
Performance
COPA.L vs. META.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 higher than META.L's 10.73% 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%
META.L
- 1D
- -0.30%
- 1M
- 3.62%
- YTD
- 10.73%
- 6M
- 17.26%
- 1Y
- 30.93%
- 3Y*
- 11.40%
- 5Y*
- —
- 10Y*
- —
COPA.L vs. META.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
COPA.L WisdomTree Copper | 13.93% | 36.37% | 4.81% | 2.66% | 16.50% |
META.L WisdomTree Industrial Metals Enhanced | 10.73% | 16.98% | 3.79% | -8.15% | 16.29% |
Correlation
The correlation between COPA.L and META.L is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jul 14, 2022 | 0.79 |
The correlation between COPA.L and META.L has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.
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Return for Risk
COPA.L vs. META.L — Risk / Return Rank
COPA.L
META.L
COPA.L vs. META.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Copper (COPA.L) and WisdomTree Industrial Metals Enhanced (META.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 | META.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.11 | ||
| Sortino ratioReturn per unit of downside risk | -1.54 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.36 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 3.42 | -2.22 |
| Martin ratioReturn relative to average drawdown | 2.57 | 12.10 | -9.52 |
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 | META.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 2.02 | -1.11 |
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 | 0.56 | -0.47 |
Drawdowns
COPA.L vs. META.L - Drawdown Comparison
The maximum COPA.L drawdown since its inception was -67.44%, which is greater than META.L's maximum drawdown of -20.21%. Use the drawdown chart below to compare losses from any high point for COPA.L and META.L.
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Drawdown Indicators
| COPA.L | META.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.44% | -20.21% | -47.23% |
Max Drawdown (1Y)Largest decline over 1 year | -25.25% | -9.01% | -16.24% |
Max Drawdown (3Y)Largest decline over 3 years | -25.25% | -20.21% | -5.04% |
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% | -1.41% | -0.85% |
Average DrawdownAverage peak-to-trough decline | -33.24% | -9.94% | -23.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.73% | 2.55% | +9.18% |
Volatility
COPA.L vs. META.L - Volatility Comparison
WisdomTree Copper (COPA.L) has a higher volatility of 8.83% compared to WisdomTree Industrial Metals Enhanced (META.L) at 4.42%. This indicates that COPA.L's price experiences larger fluctuations and is considered to be riskier than META.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 | META.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.83% | 4.42% | +4.41% |
Volatility (6M)Calculated over the trailing 6-month period | 18.91% | 12.91% | +6.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.17% | 15.22% | +17.95% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.20% | 17.54% | +8.66% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.28% | 17.54% | +5.74% |
COPA.L vs. META.L - Expense Ratio Comparison
COPA.L has a 0.49% expense ratio, which is higher than META.L's 0.40% expense ratio.
Dividends
COPA.L vs. META.L - Dividend Comparison
Neither COPA.L nor META.L has paid dividends to shareholders.
Frequently Asked Questions
COPA.L and META.L have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, META.L is cheaper at 0.40% per year. The better choice depends on whether you care most about return, fees, risk, or income.
META.L is cheaper with a 0.40% expense ratio, compared with 0.49% for COPA.L.
COPA.L tracks Bloomberg Copper Subindex, while META.L tracks Optimised Roll Industrial Metals. Their fees differ too: 0.49% for COPA.L and 0.40% for META.L.
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