COPA vs. SCOP
COPA (Themes Copper Miners ETF) and SCOP (Sprott Physical Copper Trust) are both Copper funds. COPA is passively managed, while SCOP is actively managed. At a 0.49 correlation, their price movements are largely independent. COPA charges 0.35%/yr vs 1.30%/yr for SCOP.
Performance
COPA vs. SCOP - Performance Comparison
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Returns By Period
COPA
- 1D
- 5.49%
- 1M
- -6.21%
- 6M
- 3.49%
- YTD
- 12.61%
- 1Y
- 81.98%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SCOP
- 1D
- 3.29%
- 1M
- -10.65%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
COPA vs. SCOP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
COPA Themes Copper Miners ETF | 3.90% |
SCOP Sprott Physical Copper Trust | -11.17% |
Correlation
The correlation between COPA and SCOP is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since May 4, 2026 | 0.49 |
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Return for Risk
COPA vs. SCOP — Risk / Return Rank
COPA
SCOP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
COPA vs. SCOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Themes Copper Miners ETF (COPA) and Sprott Physical Copper Trust (SCOP). 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 | SCOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.31 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.94 | — | — |
| Martin ratioReturn relative to average drawdown | 8.83 | — | — |
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Drawdowns
COPA vs. SCOP - Drawdown Comparison
The maximum COPA drawdown since its inception was -34.72%, which is greater than SCOP's maximum drawdown of -21.04%. Use the drawdown chart below to compare losses from any high point for COPA and SCOP.
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Drawdown Indicators
| COPA | SCOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.72% | -21.04% | -13.68% |
Max Drawdown (1Y)Largest decline over 1 year | -28.05% | — | — |
Current DrawdownCurrent decline from peak | -12.83% | -18.44% | +5.61% |
Average DrawdownAverage peak-to-trough decline | -9.71% | -8.66% | -1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.32% | — | — |
Volatility
COPA vs. SCOP - Volatility Comparison
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Volatility by Period
| COPA | SCOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.02% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 36.89% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 42.47% | 38.97% | +3.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.50% | 38.97% | +0.53% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.50% | 38.97% | +0.53% |
COPA vs. SCOP - Expense Ratio Comparison
COPA has a 0.35% expense ratio, which is lower than SCOP's 1.30% expense ratio.
Dividends
COPA vs. SCOP - Dividend Comparison
COPA's dividend yield for the trailing twelve months is around 3.78%, while SCOP has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
COPA Themes Copper Miners ETF | 3.78% | 4.26% | 1.33% |
SCOP Sprott Physical Copper Trust | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
COPA and SCOP have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, COPA is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
COPA is cheaper with a 0.35% expense ratio, compared with 1.30% for SCOP.
COPA has the higher dividend yield at 3.78%, compared with 0.00% for SCOP.
They also come from different issuers: Themes and Sprott. Their fees differ too: 0.35% for COPA and 1.30% for SCOP.
Find the right allocation for COPA and SCOP
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