COPA vs. CSNR
COPA (Themes Copper Miners ETF) and CSNR (Cohen & Steers Natural Resources Active ETF) are both exchange-traded funds - COPA is a Copper fund tracking the BITA Global Copper Mining Select Index, while CSNR is a Natural Resources fund actively managed by Cohen & Steers. COPA is passively managed, while CSNR is actively managed. Over the past year, COPA returned 84.28% vs 37.74% for CSNR. Their 0.65 correlation means they have sometimes moved together and sometimes differently. COPA charges 0.35%/yr vs 0.50%/yr for CSNR.
Performance
COPA vs. CSNR - Performance Comparison
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Returns By Period
In the year-to-date period, COPA achieves a 11.16% return, which is significantly lower than CSNR's 16.85% return.
COPA
- 1D
- -0.94%
- 1M
- -0.53%
- 6M
- -3.21%
- YTD
- 11.16%
- 1Y
- 84.28%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 43.07%
CSNR
- 1D
- -0.69%
- 1M
- 6.16%
- 6M
- 5.05%
- YTD
- 16.85%
- 1Y
- 37.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 30.42%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $170.90K | $146.89K | $167.00K | |
| $443.17K | $375.51K | $755.16K |
COPA vs. CSNR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
COPA Themes Copper Miners ETF | 11.16% | 97.44% |
CSNR Cohen & Steers Natural Resources Active ETF | 16.85% | 26.83% |
Correlation
The correlation between COPA and CSNR is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 2025 | 0.65 |
The correlation between COPA and CSNR has been stable across timeframes, ranging from 0.64 to 0.65 - a consistent structural relationship.
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Return for Risk
COPA vs. CSNR — Risk / Return Rank
COPA
CSNR
COPA vs. CSNR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Themes Copper Miners ETF (COPA) and Cohen & Steers Natural Resources Active ETF (CSNR). 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 | CSNR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.10 | ||
| Sortino ratioReturn per unit of downside risk | -0.28 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.36 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.01 | 2.96 | +0.05 |
| Martin ratioReturn relative to average drawdown | 8.50 | 9.36 | -0.86 |
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Drawdowns
COPA vs. CSNR - Drawdown Comparison
The maximum COPA drawdown since its inception was -34.72%, which is greater than CSNR's maximum drawdown of -15.33%. Use the drawdown chart below to compare losses from any high point for COPA and CSNR.
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Drawdown Indicators
| COPA | CSNR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.72% | -15.33% | -19.39% |
Max Drawdown (1Y)Largest decline over 1 year | -28.05% | -12.43% | -15.62% |
Current DrawdownCurrent decline from peak | -13.95% | -5.49% | -8.46% |
Average DrawdownAverage peak-to-trough decline | -9.86% | -2.49% | -7.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.91% | 3.93% | +5.98% |
Volatility
COPA vs. CSNR - Volatility Comparison
Themes Copper Miners ETF (COPA) has a higher volatility of 13.70% compared to Cohen & Steers Natural Resources Active ETF (CSNR) at 4.09%. This indicates that COPA's price experiences larger fluctuations and is considered to be riskier than CSNR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COPA | CSNR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.70% | 4.09% | +9.61% |
Volatility (6M)Calculated over the trailing 6-month period | 37.15% | 14.39% | +22.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.10% | 17.87% | +25.23% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.58% | 19.67% | +19.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.58% | 19.67% | +19.91% |
COPA vs. CSNR - Expense Ratio Comparison
COPA has a 0.35% expense ratio, which is lower than CSNR's 0.50% expense ratio.
Dividends
COPA vs. CSNR - Dividend Comparison
COPA's dividend yield for the trailing twelve months is around 3.83%, more than CSNR's 1.88% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
COPA Themes Copper Miners ETF | 3.83% | 4.26% | 1.33% |
CSNR Cohen & Steers Natural Resources Active ETF | 1.88% | 2.39% | 0.00% |
Frequently Asked Questions
COPA and CSNR have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COPA has higher volatility (13.70%) compared to CSNR (4.09%). In terms of maximum drawdown, COPA dropped -34.72% vs CSNR's -15.33%.
On 1-year performance, COPA leads with 84.28% vs 37.74% for CSNR. On fees, COPA is cheaper at 0.35% per year. On volatility, CSNR has been the lower-risk option at 4.09%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, COPA has performed better with a 84.28% return vs 37.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COPA is cheaper with a 0.35% expense ratio, compared with 0.50% for CSNR.
COPA has the higher dividend yield at 3.83%, compared with 1.88% for CSNR.
COPA is categorized as Copper, while CSNR is Natural Resources. They also come from different issuers: Themes and Cohen & Steers. Their fees differ too: 0.35% for COPA and 0.50% for CSNR.
CSNR currently has the higher Sharpe Ratio (2.06 vs 1.96), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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