COPJ vs. PSLV
COPJ (Sprott Junior Copper Miners ETF) and PSLV (Sprott Physical Silver Trust) are both exchange-traded funds - COPJ is a Commodity Producers Equities fund tracking the Nasdaq Sprott Junior Copper Miners Index, while PSLV is a Silver fund tracking the No Index (Physical Silver). Both are passively managed. Over the past 3 years, COPJ returned 46.22%/yr vs 42.33%/yr for PSLV. A 0.55 correlation means they provide meaningful diversification when combined. COPJ charges 0.78%/yr vs 0.51%/yr for PSLV.
Performance
COPJ vs. PSLV - Performance Comparison
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Returns By Period
In the year-to-date period, COPJ achieves a 15.47% return, which is significantly higher than PSLV's -0.89% return.
COPJ
- 1D
- 0.22%
- 1M
- 14.83%
- YTD
- 15.47%
- 6M
- 29.69%
- 1Y
- 121.26%
- 3Y*
- 46.22%
- 5Y*
- —
- 10Y*
- —
PSLV
- 1D
- 0.90%
- 1M
- -0.64%
- YTD
- -0.89%
- 6M
- 23.11%
- 1Y
- 102.24%
- 3Y*
- 42.33%
- 5Y*
- 18.65%
- 10Y*
- 14.02%
COPJ vs. PSLV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
COPJ Sprott Junior Copper Miners ETF | 15.47% | 140.63% | 11.07% | -5.30% |
PSLV Sprott Physical Silver Trust | -0.89% | 145.08% | 19.43% | 1.25% |
Correlation
The correlation between COPJ and PSLV is 0.59, 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 | 0.59 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 2023 | 0.55 |
The correlation between COPJ and PSLV has been stable across timeframes, ranging from 0.55 to 0.59 - a consistent structural relationship.
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Return for Risk
COPJ vs. PSLV — Risk / Return Rank
COPJ
PSLV
COPJ vs. PSLV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Junior Copper Miners ETF (COPJ) and Sprott Physical Silver Trust (PSLV). 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 | PSLV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.14 | ||
| Sortino ratioReturn per unit of downside risk | +1.11 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 1.33 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.78 | 2.53 | +1.25 |
| Martin ratioReturn relative to average drawdown | 11.02 | 5.58 | +5.44 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| COPJ | PSLV | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.89 | 1.76 | +1.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.53 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.45 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.10 | 0.17 | +0.93 |
Drawdowns
COPJ vs. PSLV - Drawdown Comparison
The maximum COPJ drawdown since its inception was -32.28%, smaller than the maximum PSLV drawdown of -79.38%. Use the drawdown chart below to compare losses from any high point for COPJ and PSLV.
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Drawdown Indicators
| COPJ | PSLV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -32.28% | -79.38% | +47.10% |
Max Drawdown (1Y)Largest decline over 1 year | -32.28% | -40.65% | +8.37% |
Max Drawdown (3Y)Largest decline over 3 years | -32.28% | -40.65% | +8.37% |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.65% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -42.79% | — |
Current DrawdownCurrent decline from peak | -11.73% | -35.53% | +23.80% |
Average DrawdownAverage peak-to-trough decline | -11.86% | -58.15% | +46.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.05% | 18.38% | -7.33% |
Volatility
COPJ vs. PSLV - Volatility Comparison
The current volatility for Sprott Junior Copper Miners ETF (COPJ) is 15.38%, while Sprott Physical Silver Trust (PSLV) has a volatility of 16.60%. This indicates that COPJ experiences smaller price fluctuations and is considered to be less risky than PSLV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COPJ | PSLV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.38% | 16.60% | -1.22% |
Volatility (6M)Calculated over the trailing 6-month period | 35.19% | 57.34% | -22.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 42.15% | 58.49% | -16.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.76% | 35.64% | -0.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.76% | 31.14% | +3.62% |
COPJ vs. PSLV - Expense Ratio Comparison
COPJ has a 0.78% expense ratio, which is higher than PSLV's 0.51% expense ratio.
Dividends
COPJ vs. PSLV - Dividend Comparison
COPJ's dividend yield for the trailing twelve months is around 10.02%, while PSLV has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
COPJ Sprott Junior Copper Miners ETF | 10.02% | 11.57% | 11.64% | 2.48% |
PSLV Sprott Physical Silver Trust | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
COPJ and PSLV have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSLV has higher volatility (16.60%) compared to COPJ (15.38%). In terms of maximum drawdown, COPJ dropped -32.28% vs PSLV's -79.38%.
On 3-year performance, COPJ leads with 46.22% vs 42.33% for PSLV. On fees, PSLV is cheaper at 0.51% per year. On volatility, COPJ has been the lower-risk option at 15.38%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, COPJ has performed better with a 46.22% return vs 42.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSLV is cheaper with a 0.51% expense ratio, compared with 0.78% for COPJ.
COPJ has the higher dividend yield at 10.02%, compared with 0.00% for PSLV.
COPJ is categorized as Commodity Producers Equities, while PSLV is Silver. COPJ tracks Nasdaq Sprott Junior Copper Miners Index, while PSLV tracks No Index (Physical Silver). Their fees differ too: 0.78% for COPJ and 0.51% for PSLV.
COPJ currently has the higher Sharpe Ratio (2.89 vs 1.76), 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.
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