COPJ vs. MMKT

Last updated Jun 24, 2026

COPJ (Sprott Junior Copper Miners ETF) and MMKT (Texas Capital Government Money Market ETF) are both exchange-traded funds - COPJ is a Copper fund tracking the Nasdaq Sprott Junior Copper Miners Index, while MMKT is a Money Market fund actively managed by Texas Capital. COPJ is passively managed, while MMKT is actively managed. Over the past year, COPJ returned 91.12% vs 3.78% for MMKT. At a correlation of -0.01, they often move in opposite directions. COPJ charges 0.78%/yr vs 0.20%/yr for MMKT.

Performance

COPJ vs. MMKT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Junior Copper Miners ETF (COPJ) and Texas Capital Government Money Market ETF (MMKT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COPJ achieves a 0.31% return, which is significantly lower than MMKT's 1.64% return.

COPJ

• 1D: -5.08%
• 1M: -6.08%
• YTD: 0.31%
• 6M: 1.57%
• 1Y: 91.12%
• 3Y*: 38.95%
• 5Y*: —
• 10Y*: —

MMKT

• 1D: 0.02%
• 1M: 0.27%
• YTD: 1.64%
• 6M: 1.74%
• 1Y: 3.78%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

COPJ vs. MMKT - Yearly Performance Comparison

	2026 (YTD)	2025	2024
COPJ Sprott Junior Copper Miners ETF	0.31%	140.63%	-11.60%
MMKT Texas Capital Government Money Market ETF	1.64%	4.13%	1.22%

Correlation

The correlation between COPJ and MMKT 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 (All Time) Calculated using the full available price history since Sep 25, 2024	-0.01

Return for Risk

COPJ vs. MMKT — Risk / Return Rank

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

COPJ

COPJ Risk / Return Rank: 56
COPJ Sharpe Ratio Rank: 65
COPJ Sortino Ratio Rank: 51
COPJ Omega Ratio Rank: 56
COPJ Calmar Ratio Rank: 60
COPJ Martin Ratio Rank: 48

MMKT

MMKT Risk / Return Rank: 100
MMKT Sharpe Ratio Rank: 100
MMKT Sortino Ratio Rank: 100
MMKT Omega Ratio Rank: 100
MMKT Calmar Ratio Rank: 100
MMKT Martin Ratio Rank: 100

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. MMKT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Junior Copper Miners ETF (COPJ) and Texas Capital Government Money Market ETF (MMKT). 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	MMKT	Difference
Sharpe ratio: Return per unit of total volatility	2.04	16.75	-14.71
Sortino ratio: Return per unit of downside risk	2.40	62.70	-60.30
Omega ratio: Gain probability vs. loss probability	1.33	15.48	-14.15
Calmar ratio: Return relative to maximum drawdown	2.84	152.14	-149.30
Martin ratio: Return relative to average drawdown	7.73	912.59	-904.85

COPJ vs. MMKT - Sharpe Ratio Comparison

The current COPJ Sharpe Ratio is 2.04, which is lower than the MMKT Sharpe Ratio of 16.75. The chart below compares the historical Sharpe Ratios of COPJ and MMKT, 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. MMKT - Drawdown Comparison

The maximum COPJ drawdown since its inception was -32.28%, which is greater than MMKT's maximum drawdown of -0.04%. Use the drawdown chart below to compare losses from any high point for COPJ and MMKT.

Drawdown Indicators

	COPJ	MMKT	Difference
Max Drawdown Largest peak-to-trough decline	-32.28%	-0.04%	-32.24%
Max Drawdown (1Y) Largest decline over 1 year	-32.28%	-0.02%	-32.26%
Max Drawdown (3Y) Largest decline over 3 years	-32.28%	—	—
Current Drawdown Current decline from peak	-23.33%	0.00%	-23.33%
Average Drawdown Average peak-to-trough decline	-12.01%	-0.00%	-12.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.82%	0.00%	+11.82%

Volatility

COPJ vs. MMKT - Volatility Comparison

Sprott Junior Copper Miners ETF (COPJ) has a higher volatility of 19.61% compared to Texas Capital Government Money Market ETF (MMKT) at 0.05%. This indicates that COPJ's price experiences larger fluctuations and is considered to be riskier than MMKT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPJ	MMKT	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.61%	0.05%	+19.56%
Volatility (6M) Calculated over the trailing 6-month period	38.85%	0.13%	+38.72%
Volatility (1Y) Calculated over the trailing 1-year period	45.16%	0.23%	+44.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.68%	0.23%	+35.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.68%	0.23%	+35.45%

COPJ vs. MMKT - Expense Ratio Comparison

COPJ has a 0.78% expense ratio, which is higher than MMKT's 0.20% expense ratio.

Dividends

COPJ vs. MMKT - Dividend Comparison

COPJ's dividend yield for the trailing twelve months is around 11.54%, more than MMKT's 3.71% yield.

Position	TTM	2025	2024	2023
COPJ Sprott Junior Copper Miners ETF	11.54%	11.57%	11.64%	2.48%
MMKT Texas Capital Government Money Market ETF	3.71%	3.98%	1.07%	0.00%

Frequently Asked Questions

Can I hold both COPJ and MMKT in my portfolio?

COPJ and MMKT 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 MMKT?

COPJ has higher volatility (19.61%) compared to MMKT (0.05%). In terms of maximum drawdown, COPJ dropped -32.28% vs MMKT's -0.04%.

Which ETF is better, COPJ or MMKT?

On 1-year performance, COPJ leads with 91.12% vs 3.78% for MMKT. On fees, MMKT is cheaper at 0.20% per year. On volatility, MMKT has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COPJ or MMKT?

Over the 1-year period, COPJ has performed better with a 91.12% return vs 3.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPJ or MMKT?

MMKT is cheaper with a 0.20% expense ratio, compared with 0.78% for COPJ.

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

COPJ has the higher dividend yield at 11.54%, compared with 3.71% for MMKT.

What is the main difference between COPJ and MMKT?

COPJ is categorized as Copper, while MMKT is Money Market. They also come from different issuers: Sprott and Texas Capital. Their fees differ too: 0.78% for COPJ and 0.20% for MMKT.

Which has better risk-adjusted returns?

MMKT currently has the higher Sharpe Ratio (16.75 vs 2.04), 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.