COPJ vs. SPY

Last updated Aug 2, 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 34.70%/yr vs 19.32%/yr for SPY. Their 0.47 correlation means their historical movements had little consistent relationship. 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

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%

SPY

• 1D: 0.72%
• 1M: 0.30%
• 6M: 8.53%
• YTD: 10.13%
• 1Y: 21.49%
• 3Y*: 19.32%
• 5Y*: 12.76%
• 10Y*: 15.07%
• ALL TIME*: 10.79%

*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
SPY State Street SPDR S&P 500 ETF	$37.27B	$35.99B	$39.23B

COPJ vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
COPJ Sprott Junior Copper Miners ETF	0.00%	140.63%	11.07%	-6.47%
SPY State Street SPDR S&P 500 ETF	10.13%	17.72%	24.89%	17.46%

Correlation

The correlation between COPJ and SPY is 0.57, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.57
Correlation (3Y) Balances recent behavior with more history.	0.47
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023	0.47

The correlation between COPJ and SPY shifts across timeframes, from 0.47 (3 years) to 0.57 (1 year), reflecting how their relationship changes across market environments.

COPJ vs. SPY - Sectors Allocation Comparison

Sectors	COPJ	SPY
Basic Materials	100.0%	1.9%
Technology	3.6%	36.9%
Communication Services	-	9.7%
Consumer Cyclical	-	8.9%
Consumer Defensive	-	4.8%
Energy	-	3.4%
Financial Services	-	12.5%
Healthcare	-	9.4%
Industrials	-	7.6%
Real Estate	-	2.0%
Utilities	-	2.6%

Return for Risk

COPJ vs. SPY — 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

SPY

SPY Risk / Return Rank: 67
SPY Sharpe Ratio Rank: 67
SPY Sortino Ratio Rank: 64
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 64
SPY Martin Ratio Rank: 76

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. 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	1.77	1.52	+0.25
Sortino ratio: Return per unit of downside risk	2.20	2.11	+0.08
Omega ratio: Gain probability vs. loss probability	1.29	1.27	+0.02
Calmar ratio: Return relative to maximum drawdown	2.53	2.20	+0.33
Martin ratio: Return relative to average drawdown	5.76	9.40	-3.64

COPJ vs. SPY - Sharpe Ratio Comparison

The current COPJ Sharpe Ratio is 1.77, which is comparable to the SPY Sharpe Ratio of 1.52. 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	-23.56%	-1.40%	-22.16%
Average Drawdown Average peak-to-trough decline	-12.38%	-9.01%	-3.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.14%	2.08%	+12.06%

Volatility

COPJ vs. SPY - Volatility Comparison

Sprott Junior Copper Miners ETF (COPJ) has a higher volatility of 12.84% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. 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	12.84%	3.58%	+9.26%
Volatility (6M) Calculated over the trailing 6-month period	39.35%	10.14%	+29.21%
Volatility (1Y) Calculated over the trailing 1-year period	46.09%	12.89%	+33.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.86%	17.18%	+18.68%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.86%	17.95%	+17.91%

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 11.57%, more than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COPJ Sprott Junior Copper Miners ETF	11.57%	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	1.01%	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 0.57, 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 (12.84%) compared to SPY (3.58%). 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 34.70% vs 19.32% for SPY. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 3.58%. 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 34.70% return vs 19.32%. 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 11.57%, compared with 1.01% 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 (1.77 vs 1.52), 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.