COPJ vs. IVOL

Last updated Aug 2, 2026

COPJ (Sprott Junior Copper Miners ETF) and IVOL (Quadratic Interest Rate Volatility & Inflation Hedge ETF) are both exchange-traded funds - COPJ is a Copper fund tracking the Nasdaq Sprott Junior Copper Miners Index, while IVOL is a Inflation-Protected Bonds fund actively managed by CICC. COPJ is passively managed, while IVOL is actively managed. Over the past 3 years, COPJ returned 34.70%/yr vs -1.90%/yr for IVOL. Their -0.00 correlation means they have often moved in opposite directions in the past. COPJ charges 0.78%/yr vs 0.99%/yr for IVOL.

Performance

COPJ vs. IVOL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Junior Copper Miners ETF (COPJ) and Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

COPJ

• 1D: -0.83%
• 1M: -1.50%
• 6M: -14.72%
• YTD: 0.00%
• 1Y: 79.19%
• 3Y*: 34.70%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 30.01%

IVOL

• 1D: 0.17%
• 1M: 0.36%
• 6M: -6.64%
• YTD: -7.33%
• 1Y: -7.62%
• 3Y*: -1.90%
• 5Y*: -5.87%
• 10Y*: —
• ALL TIME*: -1.42%

*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)
COPJ Sprott Junior Copper Miners ETF	$2.16M	$2.22M	$3.49M
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	$1.46M	$1.22M	$2.07M

COPJ vs. IVOL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
COPJ Sprott Junior Copper Miners ETF	0.00%	140.63%	11.07%	-6.47%
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	-7.33%	11.97%	-11.07%	-3.89%

Correlation

The correlation between COPJ and IVOL is 0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.02
Correlation (3Y) Balances recent behavior with more history.	-0.02
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023	-0.00

Return for Risk

COPJ vs. IVOL — Risk / Return Rank

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

COPJ

COPJ Risk / Return Rank: 68
COPJ Sharpe Ratio Rank: 78
COPJ Sortino Ratio Rank: 67
COPJ Omega Ratio Rank: 70
COPJ Calmar Ratio Rank: 73
COPJ Martin Ratio Rank: 50

IVOL

IVOL Risk / Return Rank: 3
IVOL Sharpe Ratio Rank: 2
IVOL Sortino Ratio Rank: 3
IVOL Omega Ratio Rank: 3
IVOL Calmar Ratio Rank: 5
IVOL Martin Ratio Rank: 5

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.

COPJ vs. IVOL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Junior Copper Miners ETF (COPJ) and Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL). 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.

	COPJ	IVOL	Difference
Sharpe ratio: Return per unit of total volatility	1.77	-0.92	+2.69
Sortino ratio: Return per unit of downside risk	2.20	-1.26	+3.45
Omega ratio: Gain probability vs. loss probability	1.29	0.86	+0.43
Calmar ratio: Return relative to maximum drawdown	2.53	-0.51	+3.03
Martin ratio: Return relative to average drawdown	5.76	-0.99	+6.75

COPJ vs. IVOL - Sharpe Ratio Comparison

The current COPJ Sharpe Ratio is 1.77, which is higher than the IVOL Sharpe Ratio of -0.92. The chart below compares the historical Sharpe Ratios of COPJ and IVOL, 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

COPJ vs. IVOL - Drawdown Comparison

The maximum COPJ drawdown since its inception was -32.28%, roughly equal to the maximum IVOL drawdown of -31.16%. Use the drawdown chart below to compare losses from any high point for COPJ and IVOL.

Drawdown Indicators

	COPJ	IVOL	Difference
Max Drawdown Largest peak-to-trough decline	-32.28%	-31.16%	-1.12%
Max Drawdown (1Y) Largest decline over 1 year	-32.28%	-12.17%	-20.11%
Max Drawdown (3Y) Largest decline over 3 years	-32.28%	-14.48%	-17.80%
Max Drawdown (5Y) Largest decline over 5 years	—	-30.07%	—
Current Drawdown Current decline from peak	-23.56%	-27.12%	+3.56%
Average Drawdown Average peak-to-trough decline	-12.38%	-13.60%	+1.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.14%	6.22%	+7.92%

Volatility

COPJ vs. IVOL - Volatility Comparison

Sprott Junior Copper Miners ETF (COPJ) has a higher volatility of 12.84% compared to Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) at 1.74%. This indicates that COPJ's price experiences larger fluctuations and is considered to be riskier than IVOL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPJ	IVOL	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.84%	1.74%	+11.10%
Volatility (6M) Calculated over the trailing 6-month period	39.35%	4.95%	+34.40%
Volatility (1Y) Calculated over the trailing 1-year period	46.09%	6.74%	+39.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.86%	12.85%	+23.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.86%	11.91%	+23.95%

COPJ vs. IVOL - Expense Ratio Comparison

COPJ has a 0.78% expense ratio, which is lower than IVOL's 0.99% expense ratio.

Dividends

COPJ vs. IVOL - Dividend Comparison

COPJ's dividend yield for the trailing twelve months is around 11.57%, more than IVOL's 3.88% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
COPJ Sprott Junior Copper Miners ETF	11.57%	11.57%	11.64%	2.48%	0.00%	0.00%	0.00%	0.00%
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	3.88%	3.61%	3.83%	3.73%	3.92%	3.93%	3.44%	2.02%

Frequently Asked Questions

Can I hold both COPJ and IVOL in my portfolio?

COPJ and IVOL have a correlation of 0.02, 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 IVOL?

COPJ has higher volatility (12.84%) compared to IVOL (1.74%). In terms of maximum drawdown, COPJ dropped -32.28% vs IVOL's -31.16%.

Which ETF is better, COPJ or IVOL?

On 3-year performance, COPJ leads with 34.70% vs -1.90% for IVOL. On fees, COPJ is cheaper at 0.78% per year. On volatility, IVOL has been the lower-risk option at 1.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COPJ or IVOL?

Over the 3-year period, COPJ has performed better with a 34.70% return vs -1.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPJ or IVOL?

COPJ is cheaper with a 0.78% expense ratio, compared with 0.99% for IVOL.

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

COPJ has the higher dividend yield at 11.57%, compared with 3.88% for IVOL.

What is the main difference between COPJ and IVOL?

COPJ is categorized as Copper, while IVOL is Inflation-Protected Bonds. They also come from different issuers: Sprott and CICC. Their fees differ too: 0.78% for COPJ and 0.99% for IVOL.

Which has better risk-adjusted returns?

COPJ currently has the higher Sharpe Ratio (1.77 vs -0.92), 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.