COPA.L vs. NICK.L
COPA.L (WisdomTree Copper) and NICK.L (WisdomTree Nickel) are both Metals funds from WisdomTree - COPA.L tracks the Bloomberg Copper Subindex while NICK.L tracks the Bloomberg Nickel. Both are passively managed. Over the past 10 years, COPA.L returned 10.33%/yr vs 6.28%/yr for NICK.L. A 0.51 correlation means they provide meaningful diversification when combined. Both charge a 0.49% expense ratio.
Performance
COPA.L vs. NICK.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 NICK.L's 10.65% return. Over the past 10 years, COPA.L has outperformed NICK.L with an annualized return of 10.33%, while NICK.L has yielded a comparatively lower 6.28% 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%
NICK.L
- 1D
- -1.03%
- 1M
- -5.12%
- YTD
- 10.65%
- 6M
- 23.90%
- 1Y
- 18.75%
- 3Y*
- -5.71%
- 5Y*
- -0.66%
- 10Y*
- 6.28%
COPA.L vs. NICK.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% |
NICK.L WisdomTree Nickel | 10.65% | 6.27% | -8.39% | -46.66% | 46.43% | 23.82% | 14.32% | 32.82% | -14.50% | 18.74% |
Correlation
The correlation between COPA.L and NICK.L is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2007 | 0.51 |
The correlation between COPA.L and NICK.L has been stable across timeframes, ranging from 0.51 to 0.56 - a consistent structural relationship.
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Return for Risk
COPA.L vs. NICK.L — Risk / Return Rank
COPA.L
NICK.L
COPA.L vs. NICK.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Copper (COPA.L) and WisdomTree Nickel (NICK.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 | NICK.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.17 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 1.19 | 1.82 | -0.63 |
| Martin ratioReturn relative to average drawdown | 2.57 | 3.88 | -1.31 |
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 | NICK.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.91 | 0.76 | +0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.27 | -0.01 | +0.28 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | 0.17 | +0.27 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.09 | -0.09 | +0.17 |
Drawdowns
COPA.L vs. NICK.L - Drawdown Comparison
The maximum COPA.L drawdown since its inception was -67.44%, smaller than the maximum NICK.L drawdown of -87.80%. Use the drawdown chart below to compare losses from any high point for COPA.L and NICK.L.
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Drawdown Indicators
| COPA.L | NICK.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.44% | -87.80% | +20.36% |
Max Drawdown (1Y)Largest decline over 1 year | -25.25% | -10.26% | -14.99% |
Max Drawdown (3Y)Largest decline over 3 years | -25.25% | -40.82% | +15.57% |
Max Drawdown (5Y)Largest decline over 5 years | -34.64% | -71.83% | +37.19% |
Max Drawdown (10Y)Largest decline over 10 years | -38.75% | -71.83% | +33.08% |
Current DrawdownCurrent decline from peak | -2.26% | -74.59% | +72.33% |
Average DrawdownAverage peak-to-trough decline | -33.24% | -70.10% | +36.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.73% | 4.80% | +6.93% |
Volatility
COPA.L vs. NICK.L - Volatility Comparison
WisdomTree Copper (COPA.L) has a higher volatility of 8.83% compared to WisdomTree Nickel (NICK.L) at 6.02%. This indicates that COPA.L's price experiences larger fluctuations and is considered to be riskier than NICK.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 | NICK.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.83% | 6.02% | +2.81% |
Volatility (6M)Calculated over the trailing 6-month period | 18.91% | 22.98% | -4.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 33.17% | 24.65% | +8.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.20% | 44.13% | -17.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.28% | 36.48% | -13.20% |
COPA.L vs. NICK.L - Expense Ratio Comparison
Both COPA.L and NICK.L have an expense ratio of 0.49%.
Dividends
COPA.L vs. NICK.L - Dividend Comparison
Neither COPA.L nor NICK.L has paid dividends to shareholders.
Frequently Asked Questions
COPA.L and NICK.L have a correlation of 0.56, 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 NICK.L have the same expense ratio: 0.49% per year.
COPA.L tracks Bloomberg Copper Subindex, while NICK.L tracks Bloomberg Nickel.
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