COPJ vs. BWET

Last updated Jun 3, 2026

COPJ (Sprott Junior Copper Miners ETF) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - COPJ is a Commodity Producers Equities fund tracking the Nasdaq Sprott Junior Copper Miners Index, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. Both are passively managed. Over the past 3 years, COPJ returned 47.64%/yr vs 126.47%/yr for BWET. At a 0.04 correlation, their price movements are largely independent. COPJ charges 0.78%/yr vs 3.50%/yr for BWET.

Performance

COPJ vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Junior Copper Miners ETF (COPJ) and Breakwave Tanker Shipping ETF (BWET). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COPJ achieves a 20.64% return, which is significantly lower than BWET's 835.99% return.

COPJ

• 1D: 3.38%
• 1M: 15.54%
• YTD: 20.64%
• 6M: 40.03%
• 1Y: 137.28%
• 3Y*: 47.64%
• 5Y*: —
• 10Y*: —

BWET

• 1D: 8.73%
• 1M: 3.52%
• YTD: 835.99%
• 6M: 698.56%
• 1Y: 1,645.55%
• 3Y*: 126.47%
• 5Y*: —
• 10Y*: —

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

COPJ vs. BWET - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
COPJ Sprott Junior Copper Miners ETF	20.64%	140.63%	11.07%	-5.06%
BWET Breakwave Tanker Shipping ETF	835.99%	96.22%	-39.21%	15.94%

Correlation

The correlation between COPJ and BWET is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.08
Correlation (3Y) Calculated over the trailing 3-year period	0.05
Correlation (All Time) Calculated using the full available price history since May 4, 2023	0.04

The correlation between COPJ and BWET shifts across timeframes, from -0.08 (1 year) to 0.05 (3 years), reflecting how their relationship changes across market environments.

COPJ vs. BWET - Sectors Allocation Comparison

Sectors	COPJ	BWET
Basic Materials	100.0%	-
Technology	3.6%	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	8.6%
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Utilities	-	-

Return for Risk

COPJ vs. BWET — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

COPJ

COPJ Risk / Return Rank: 79
COPJ Sharpe Ratio Rank: 92
COPJ Sortino Ratio Rank: 74
COPJ Omega Ratio Rank: 79
COPJ Calmar Ratio Rank: 82
COPJ Martin Ratio Rank: 68

BWET

BWET Risk / Return Rank: 98
BWET Sharpe Ratio Rank: 100
BWET Sortino Ratio Rank: 97
BWET Omega Ratio Rank: 97
BWET Calmar Ratio Rank: 99
BWET Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

COPJ vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Junior Copper Miners ETF (COPJ) and Breakwave Tanker Shipping ETF (BWET). 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.

	COPJ	BWET	Difference
Sharpe ratio Return per unit of total volatility	3.30	16.94	-13.65
Sortino ratio Return per unit of downside risk	3.38	6.37	-2.99
Omega ratio Gain probability vs. loss probability	1.48	1.93	-0.45
Calmar ratio Return relative to maximum drawdown	4.38	51.48	-47.10
Martin ratio Return relative to average drawdown	12.85	137.13	-124.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COPJ vs. BWET - Sharpe Ratio Comparison

The current COPJ Sharpe Ratio is 3.30, which is lower than the BWET Sharpe Ratio of 16.94. The chart below compares the historical Sharpe Ratios of COPJ and BWET, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	COPJ	BWET	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.30	16.94	-13.65
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	1.86	-0.70

Drawdowns

COPJ vs. BWET - Drawdown Comparison

The maximum COPJ drawdown since its inception was -32.28%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for COPJ and BWET.

Drawdown Indicators

	COPJ	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-32.28%	-56.90%	+24.62%
Max Drawdown (1Y) Largest decline over 1 year	-32.28%	-30.64%	-1.64%
Max Drawdown (3Y) Largest decline over 3 years	-32.28%	-56.90%	+24.62%
Current Drawdown Current decline from peak	-7.78%	-14.91%	+7.13%
Average Drawdown Average peak-to-trough decline	-11.86%	-24.10%	+12.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.00%	11.50%	-0.50%

Volatility

COPJ vs. BWET - Volatility Comparison

The current volatility for Sprott Junior Copper Miners ETF (COPJ) is 14.94%, while Breakwave Tanker Shipping ETF (BWET) has a volatility of 33.76%. This indicates that COPJ experiences smaller price fluctuations and is considered to be less risky than BWET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPJ	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.94%	33.76%	-18.82%
Volatility (6M) Calculated over the trailing 6-month period	34.86%	88.46%	-53.60%
Volatility (1Y) Calculated over the trailing 1-year period	41.90%	98.44%	-56.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.71%	70.46%	-35.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.71%	70.46%	-35.75%

COPJ vs. BWET - Expense Ratio Comparison

COPJ has a 0.78% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

COPJ vs. BWET - Dividend Comparison

COPJ's dividend yield for the trailing twelve months is around 9.59%, while BWET has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
BWET Breakwave Tanker Shipping ETF	0.00%	0.00%	0.00%	0.00%
COPJ Sprott Junior Copper Miners ETF	9.59%	11.57%	11.64%	2.48%

Frequently Asked Questions

Can I hold both COPJ and BWET in my portfolio?

COPJ and BWET have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COPJ or BWET?

BWET has higher volatility (33.76%) compared to COPJ (14.94%). In terms of maximum drawdown, COPJ dropped -32.28% vs BWET's -56.90%.

Which ETF is better, COPJ or BWET?

On 3-year performance, BWET leads with 126.47% vs 47.64% for COPJ. On fees, COPJ is cheaper at 0.78% per year. On volatility, COPJ has been the lower-risk option at 14.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COPJ or BWET?

Over the 3-year period, BWET has performed better with a 126.47% return vs 47.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPJ or BWET?

COPJ is cheaper with a 0.78% expense ratio, compared with 3.50% for BWET.

Which ETF pays a higher dividend yield, COPJ or BWET?

COPJ has the higher dividend yield at 9.59%, compared with 0.00% for BWET.

What is the main difference between COPJ and BWET?

COPJ is categorized as Commodity Producers Equities, while BWET is Commodities. COPJ tracks Nasdaq Sprott Junior Copper Miners Index, while BWET tracks Breakwave Wet Freight Futures Index. They also come from different issuers: Sprott and Amplify. Their fees differ too: 0.78% for COPJ and 3.50% for BWET.

Which has better risk-adjusted returns?

BWET currently has the higher Sharpe Ratio (16.94 vs 3.30), 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.