COPJ vs. GBUG

Last updated Jun 3, 2026

COPJ (Sprott Junior Copper Miners ETF) and GBUG (Sprott Active Gold & Silver Miners ETF) are both exchange-traded funds - COPJ is a Commodity Producers Equities fund tracking the Nasdaq Sprott Junior Copper Miners Index, while GBUG is a Gold fund actively managed by Sprott. COPJ is passively managed, while GBUG is actively managed. Over the past year, COPJ returned 137.28% vs 68.44% for GBUG. A 0.58 correlation means they provide meaningful diversification when combined. COPJ charges 0.78%/yr vs 0.89%/yr for GBUG.

Performance

COPJ vs. GBUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Junior Copper Miners ETF (COPJ) and Sprott Active Gold & Silver Miners ETF (GBUG). 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 higher than GBUG's 1.33% return.

COPJ

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

GBUG

• 1D: 1.44%
• 1M: 1.93%
• YTD: 1.33%
• 6M: 10.28%
• 1Y: 68.44%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

COPJ vs. GBUG - Yearly Performance Comparison

	2026 (YTD)	2025
COPJ Sprott Junior Copper Miners ETF	20.64%	120.11%
GBUG Sprott Active Gold & Silver Miners ETF	1.33%	119.00%

Correlation

The correlation between COPJ and GBUG is 0.60, 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	0.60
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.58

The correlation between COPJ and GBUG has been stable across timeframes, ranging from 0.58 to 0.60 - a consistent structural relationship.

Return for Risk

COPJ vs. GBUG — 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

GBUG

GBUG Risk / Return Rank: 41
GBUG Sharpe Ratio Rank: 41
GBUG Sortino Ratio Rank: 34
GBUG Omega Ratio Rank: 40
GBUG Calmar Ratio Rank: 48
GBUG Martin Ratio Rank: 39

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. GBUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Junior Copper Miners ETF (COPJ) and Sprott Active Gold & Silver Miners ETF (GBUG). 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	GBUG	Difference
Sharpe ratio Return per unit of total volatility	3.30	1.45	+1.85
Sortino ratio Return per unit of downside risk	3.38	1.84	+1.54
Omega ratio Gain probability vs. loss probability	1.48	1.26	+0.22
Calmar ratio Return relative to maximum drawdown	4.38	2.43	+1.95
Martin ratio Return relative to average drawdown	12.85	6.34	+6.50
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. GBUG - Sharpe Ratio Comparison

The current COPJ Sharpe Ratio is 3.30, which is higher than the GBUG Sharpe Ratio of 1.45. The chart below compares the historical Sharpe Ratios of COPJ and GBUG, 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	GBUG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.30	1.45	+1.85
Sharpe Ratio (All Time) Calculated using the full available price history	1.16	1.84	-0.68

Drawdowns

COPJ vs. GBUG - Drawdown Comparison

The maximum COPJ drawdown since its inception was -32.28%, roughly equal to the maximum GBUG drawdown of -32.10%. Use the drawdown chart below to compare losses from any high point for COPJ and GBUG.

Drawdown Indicators

	COPJ	GBUG	Difference
Max Drawdown Largest peak-to-trough decline	-32.28%	-32.10%	-0.18%
Max Drawdown (1Y) Largest decline over 1 year	-32.28%	-32.10%	-0.18%
Max Drawdown (3Y) Largest decline over 3 years	-32.28%	—	—
Current Drawdown Current decline from peak	-7.78%	-23.90%	+16.12%
Average Drawdown Average peak-to-trough decline	-11.86%	-7.56%	-4.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.00%	12.30%	-1.30%

Volatility

COPJ vs. GBUG - Volatility Comparison

Sprott Junior Copper Miners ETF (COPJ) and Sprott Active Gold & Silver Miners ETF (GBUG) have volatilities of 14.94% and 14.95%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPJ	GBUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.94%	14.95%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	34.86%	39.21%	-4.35%
Volatility (1Y) Calculated over the trailing 1-year period	41.90%	47.75%	-5.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.71%	47.31%	-12.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.71%	47.31%	-12.60%

COPJ vs. GBUG - Expense Ratio Comparison

COPJ has a 0.78% expense ratio, which is lower than GBUG's 0.89% expense ratio.

Dividends

COPJ vs. GBUG - Dividend Comparison

COPJ's dividend yield for the trailing twelve months is around 9.59%, more than GBUG's 1.54% yield.

Position	TTM	2025	2024	2023
COPJ Sprott Junior Copper Miners ETF	9.59%	11.57%	11.64%	2.48%
GBUG Sprott Active Gold & Silver Miners ETF	1.54%	1.56%	0.00%	0.00%

Frequently Asked Questions

Can I hold both COPJ and GBUG in my portfolio?

COPJ and GBUG have a correlation of 0.60, 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 GBUG?

GBUG has higher volatility (14.95%) compared to COPJ (14.94%). In terms of maximum drawdown, COPJ dropped -32.28% vs GBUG's -32.10%.

Which ETF is better, COPJ or GBUG?

On 1-year performance, COPJ leads with 137.28% vs 68.44% for GBUG. On fees, COPJ is cheaper at 0.78% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COPJ or GBUG?

Over the 1-year period, COPJ has performed better with a 137.28% return vs 68.44%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPJ or GBUG?

COPJ is cheaper with a 0.78% expense ratio, compared with 0.89% for GBUG.

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

COPJ has the higher dividend yield at 9.59%, compared with 1.54% for GBUG.

What is the main difference between COPJ and GBUG?

COPJ is categorized as Commodity Producers Equities, while GBUG is Gold. Their fees differ too: 0.78% for COPJ and 0.89% for GBUG.

Which has better risk-adjusted returns?

COPJ currently has the higher Sharpe Ratio (3.30 vs 1.45), 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.