COPA vs. RISR

Last updated Aug 4, 2026

COPA (Themes Copper Miners ETF) and RISR (FolioBeyond Alternative Income and Interest Rate Hedge ETF) are both exchange-traded funds - COPA is a Copper fund tracking the BITA Global Copper Mining Select Index, while RISR is a Nontraditional Bonds fund actively managed by FolioBeyond. COPA is passively managed, while RISR is actively managed. Over the past year, COPA returned 85.34% vs 6.29% for RISR. Their -0.13 correlation means they have often moved in opposite directions in the past. COPA charges 0.35%/yr vs 1.13%/yr for RISR.

Performance

COPA vs. RISR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Copper Miners ETF (COPA) and FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COPA achieves a 11.80% return, which is significantly higher than RISR's 4.75% return.

COPA

• 1D: 0.58%
• 1M: 0.04%
• 6M: -1.55%
• YTD: 11.80%
• 1Y: 85.34%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 43.28%

RISR

• 1D: -0.15%
• 1M: 1.47%
• 6M: 4.83%
• YTD: 4.75%
• 1Y: 6.29%
• 3Y*: 10.07%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 14.46%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
COPA Themes Copper Miners ETF	$160.04K	$142.88K	$165.97K
RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF	$3.20M	$3.07M	$3.51M

COPA vs. RISR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
COPA Themes Copper Miners ETF	11.80%	100.86%	-13.18%
RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF	4.75%	4.63%	9.67%

Correlation

The correlation between COPA and RISR is -0.23, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.23
Correlation (All Time) Calculated using the full available price history since Sep 24, 2024	-0.13

Return for Risk

COPA vs. RISR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

COPA

COPA Risk / Return Rank: 72
COPA Sharpe Ratio Rank: 80
COPA Sortino Ratio Rank: 68
COPA Omega Ratio Rank: 67
COPA Calmar Ratio Rank: 79
COPA Martin Ratio Rank: 66

RISR

RISR Risk / Return Rank: 51
RISR Sharpe Ratio Rank: 48
RISR Sortino Ratio Rank: 47
RISR Omega Ratio Rank: 46
RISR Calmar Ratio Rank: 67
RISR Martin Ratio Rank: 49

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

COPA vs. RISR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Copper Miners ETF (COPA) and FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR). 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	RISR	Difference
Sharpe ratio: Return per unit of total volatility	1.99	1.20	+0.79
Sortino ratio: Return per unit of downside risk	2.42	1.76	+0.66
Omega ratio: Gain probability vs. loss probability	1.31	1.22	+0.09
Calmar ratio: Return relative to maximum drawdown	3.06	2.42	+0.64
Martin ratio: Return relative to average drawdown	8.61	5.79	+2.82

COPA vs. RISR - Sharpe Ratio Comparison

The current COPA Sharpe Ratio is 1.99, which is higher than the RISR Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of COPA and RISR, 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 vs. RISR - Drawdown Comparison

The maximum COPA drawdown since its inception was -34.72%, which is greater than RISR's maximum drawdown of -14.31%. Use the drawdown chart below to compare losses from any high point for COPA and RISR.

Drawdown Indicators

	COPA	RISR	Difference
Max Drawdown Largest peak-to-trough decline	-34.72%	-14.31%	-20.41%
Max Drawdown (1Y) Largest decline over 1 year	-28.05%	-2.61%	-25.44%
Max Drawdown (3Y) Largest decline over 3 years	—	-8.07%	—
Current Drawdown Current decline from peak	-13.45%	-0.15%	-13.30%
Average Drawdown Average peak-to-trough decline	-9.87%	-2.12%	-7.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.94%	1.09%	+8.85%

Volatility

COPA vs. RISR - Volatility Comparison

Themes Copper Miners ETF (COPA) has a higher volatility of 13.64% compared to FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR) at 1.13%. This indicates that COPA's price experiences larger fluctuations and is considered to be riskier than RISR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPA	RISR	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.64%	1.13%	+12.51%
Volatility (6M) Calculated over the trailing 6-month period	35.80%	3.57%	+32.23%
Volatility (1Y) Calculated over the trailing 1-year period	43.18%	5.25%	+37.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.53%	11.67%	+27.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.53%	11.67%	+27.86%

COPA vs. RISR - Expense Ratio Comparison

COPA has a 0.35% expense ratio, which is lower than RISR's 1.13% expense ratio.

Dividends

COPA vs. RISR - Dividend Comparison

COPA's dividend yield for the trailing twelve months is around 3.81%, less than RISR's 5.88% yield.

Position	TTM	2025	2024	2023	2022	2021
COPA Themes Copper Miners ETF	3.81%	4.26%	1.33%	0.00%	0.00%	0.00%
RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF	5.88%	5.95%	5.67%	7.96%	4.26%	0.30%

Frequently Asked Questions

Can I hold both COPA and RISR in my portfolio?

COPA and RISR have a correlation of -0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COPA or RISR?

COPA has higher volatility (13.64%) compared to RISR (1.13%). In terms of maximum drawdown, COPA dropped -34.72% vs RISR's -14.31%.

Which ETF is better, COPA or RISR?

On 1-year performance, COPA leads with 85.34% vs 6.29% for RISR. On fees, COPA is cheaper at 0.35% per year. On volatility, RISR has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COPA or RISR?

Over the 1-year period, COPA has performed better with a 85.34% return vs 6.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPA or RISR?

COPA is cheaper with a 0.35% expense ratio, compared with 1.13% for RISR.

Which ETF pays a higher dividend yield, COPA or RISR?

RISR has the higher dividend yield at 5.88%, compared with 3.81% for COPA.

What is the main difference between COPA and RISR?

COPA is categorized as Copper, while RISR is Nontraditional Bonds. They also come from different issuers: Themes and FolioBeyond. Their fees differ too: 0.35% for COPA and 1.13% for RISR.

Which has better risk-adjusted returns?

COPA currently has the higher Sharpe Ratio (1.99 vs 1.20), 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.