COPJ vs. SPY

Last updated Jun 24, 2026

COPJ (Sprott Junior Copper Miners ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - COPJ is a Copper fund tracking the Nasdaq Sprott Junior Copper Miners Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 3 years, COPJ returned 38.95%/yr vs 20.68%/yr for SPY. At a 0.47 correlation, their price movements are largely independent. COPJ charges 0.78%/yr vs 0.09%/yr for SPY.

Performance

COPJ vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Junior Copper Miners ETF (COPJ) and State Street SPDR S&P 500 ETF (SPY). 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 SPY's 8.15% return.

COPJ

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

SPY

• 1D: -1.45%
• 1M: -1.36%
• YTD: 8.15%
• 6M: 7.20%
• 1Y: 23.59%
• 3Y*: 20.68%
• 5Y*: 13.05%
• 10Y*: 15.53%

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

COPJ vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
COPJ Sprott Junior Copper Miners ETF	0.31%	140.63%	11.07%	-6.47%
SPY State Street SPDR S&P 500 ETF	8.15%	17.72%	24.89%	17.46%

Correlation

The correlation between COPJ and SPY is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023	0.47

The correlation between COPJ and SPY has been stable across timeframes, ranging from 0.46 to 0.55 - a consistent structural relationship.

COPJ vs. SPY - Sectors Allocation Comparison

Sectors	COPJ	SPY
Basic Materials	100.0%	1.7%
Technology	3.6%	39.0%
Communication Services	-	10.6%
Consumer Cyclical	-	9.9%
Consumer Defensive	-	4.5%
Energy	-	3.1%
Financial Services	-	11.1%
Healthcare	-	8.3%
Industrials	-	7.8%
Real Estate	-	1.8%
Utilities	-	2.1%

Return for Risk

COPJ vs. SPY — 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

SPY

SPY Risk / Return Rank: 59
SPY Sharpe Ratio Rank: 58
SPY Sortino Ratio Rank: 56
SPY Omega Ratio Rank: 57
SPY Calmar Ratio Rank: 56
SPY Martin Ratio Rank: 67

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. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Junior Copper Miners ETF (COPJ) and State Street SPDR S&P 500 ETF (SPY). 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	SPY	Difference
Sharpe ratio: Return per unit of total volatility	2.04	1.90	+0.14
Sortino ratio: Return per unit of downside risk	2.40	2.58	-0.18
Omega ratio: Gain probability vs. loss probability	1.33	1.34	-0.01
Calmar ratio: Return relative to maximum drawdown	2.84	2.67	+0.17
Martin ratio: Return relative to average drawdown	7.73	11.92	-4.19

COPJ vs. SPY - Sharpe Ratio Comparison

The current COPJ Sharpe Ratio is 2.04, which is comparable to the SPY Sharpe Ratio of 1.90. The chart below compares the historical Sharpe Ratios of COPJ and SPY, 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. SPY - Drawdown Comparison

The maximum COPJ drawdown since its inception was -32.28%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for COPJ and SPY.

Drawdown Indicators

	COPJ	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-32.28%	-55.19%	+22.91%
Max Drawdown (1Y) Largest decline over 1 year	-32.28%	-8.88%	-23.40%
Max Drawdown (3Y) Largest decline over 3 years	-32.28%	-18.76%	-13.52%
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-23.33%	-3.17%	-20.16%
Average Drawdown Average peak-to-trough decline	-12.01%	-9.04%	-2.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.82%	1.98%	+9.84%

Volatility

COPJ vs. SPY - Volatility Comparison

Sprott Junior Copper Miners ETF (COPJ) has a higher volatility of 19.61% compared to State Street SPDR S&P 500 ETF (SPY) at 4.87%. This indicates that COPJ's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPJ	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	19.61%	4.87%	+14.74%
Volatility (6M) Calculated over the trailing 6-month period	38.85%	9.85%	+29.00%
Volatility (1Y) Calculated over the trailing 1-year period	45.16%	12.50%	+32.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.68%	17.15%	+18.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.68%	17.95%	+17.73%

COPJ vs. SPY - Expense Ratio Comparison

COPJ has a 0.78% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

COPJ vs. SPY - Dividend Comparison

COPJ's dividend yield for the trailing twelve months is around 11.54%, more than SPY's 1.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COPJ Sprott Junior Copper Miners ETF	11.54%	11.57%	11.64%	2.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.03%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both COPJ and SPY in my portfolio?

COPJ and SPY have a correlation of 0.55, 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 SPY?

COPJ has higher volatility (19.61%) compared to SPY (4.87%). In terms of maximum drawdown, COPJ dropped -32.28% vs SPY's -55.19%.

Which ETF is better, COPJ or SPY?

On 3-year performance, COPJ leads with 38.95% vs 20.68% for SPY. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 4.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COPJ or SPY?

Over the 3-year period, COPJ has performed better with a 38.95% return vs 20.68%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPJ or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.78% for COPJ.

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

COPJ has the higher dividend yield at 11.54%, compared with 1.03% for SPY.

What is the main difference between COPJ and SPY?

COPJ is categorized as Copper, while SPY is S&P 500. COPJ tracks Nasdaq Sprott Junior Copper Miners Index, while SPY tracks S&P 500 Index. They also come from different issuers: Sprott and State Street. Their fees differ too: 0.78% for COPJ and 0.09% for SPY.

Which has better risk-adjusted returns?

COPJ currently has the higher Sharpe Ratio (2.04 vs 1.90), 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.