COPJ vs. WNTR

Last updated Jul 17, 2026

COPJ (Sprott Junior Copper Miners ETF) and WNTR (YieldMax Short MSTR Option Income Strategy ETF) are both exchange-traded funds - COPJ is a Copper fund tracking the Nasdaq Sprott Junior Copper Miners Index, while WNTR is a Derivative Income fund actively managed by YieldMax. COPJ is passively managed, while WNTR is actively managed. Over the past year, COPJ returned 66.26% vs 127.90% for WNTR. At a correlation of -0.28, they often move in opposite directions. COPJ charges 0.78%/yr vs 1.01%/yr for WNTR.

Performance

COPJ vs. WNTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Junior Copper Miners ETF (COPJ) and YieldMax Short MSTR Option Income Strategy ETF (WNTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COPJ achieves a -3.23% return, which is significantly lower than WNTR's 9.49% return.

COPJ

• 1D: -4.10%
• 1M: -15.90%
• 6M: -15.28%
• YTD: -3.23%
• 1Y: 66.26%
• 3Y*: 33.04%
• 5Y*: —
• 10Y*: —

WNTR

• 1D: 2.96%
• 1M: 17.94%
• 6M: 21.62%
• YTD: 9.49%
• 1Y: 127.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

COPJ vs. WNTR - Yearly Performance Comparison

	2026 (YTD)	2025
COPJ Sprott Junior Copper Miners ETF	-3.23%	105.54%
WNTR YieldMax Short MSTR Option Income Strategy ETF	9.49%	52.78%

Correlation

The correlation between COPJ and WNTR is -0.28, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.28
Correlation (All Time) Calculated using the full available price history since Mar 27, 2025	-0.28

Return for Risk

COPJ vs. WNTR — Risk / Return Rank

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

COPJ

COPJ Risk / Return Rank: 47
COPJ Sharpe Ratio Rank: 52
COPJ Sortino Ratio Rank: 46
COPJ Omega Ratio Rank: 48
COPJ Calmar Ratio Rank: 50
COPJ Martin Ratio Rank: 39

WNTR

WNTR Risk / Return Rank: 73
WNTR Sharpe Ratio Rank: 90
WNTR Sortino Ratio Rank: 71
WNTR Omega Ratio Rank: 75
WNTR Calmar Ratio Rank: 74
WNTR Martin Ratio Rank: 56

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. WNTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Junior Copper Miners ETF (COPJ) and YieldMax Short MSTR Option Income Strategy ETF (WNTR). 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	WNTR	Difference
Sharpe ratio: Return per unit of total volatility	1.45	2.39	-0.94
Sortino ratio: Return per unit of downside risk	1.91	2.56	-0.65
Omega ratio: Gain probability vs. loss probability	1.25	1.35	-0.10
Calmar ratio: Return relative to maximum drawdown	2.06	3.02	-0.95
Martin ratio: Return relative to average drawdown	5.01	7.72	-2.72

COPJ vs. WNTR - Sharpe Ratio Comparison

The current COPJ Sharpe Ratio is 1.45, which is lower than the WNTR Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of COPJ and WNTR, 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. WNTR - Drawdown Comparison

The maximum COPJ drawdown since its inception was -32.28%, smaller than the maximum WNTR drawdown of -42.65%. Use the drawdown chart below to compare losses from any high point for COPJ and WNTR.

Drawdown Indicators

	COPJ	WNTR	Difference
Max Drawdown Largest peak-to-trough decline	-32.28%	-42.65%	+10.37%
Max Drawdown (1Y) Largest decline over 1 year	-32.28%	-42.65%	+10.37%
Max Drawdown (3Y) Largest decline over 3 years	-32.28%	—	—
Current Drawdown Current decline from peak	-26.03%	-10.67%	-15.36%
Average Drawdown Average peak-to-trough decline	-12.23%	-20.46%	+8.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.28%	16.63%	-3.35%

Volatility

COPJ vs. WNTR - Volatility Comparison

The current volatility for Sprott Junior Copper Miners ETF (COPJ) is 12.90%, while YieldMax Short MSTR Option Income Strategy ETF (WNTR) has a volatility of 17.89%. This indicates that COPJ experiences smaller price fluctuations and is considered to be less risky than WNTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPJ	WNTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.90%	17.89%	-4.99%
Volatility (6M) Calculated over the trailing 6-month period	39.24%	47.05%	-7.81%
Volatility (1Y) Calculated over the trailing 1-year period	45.85%	53.81%	-7.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.82%	53.49%	-17.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.82%	53.49%	-17.67%

COPJ vs. WNTR - Expense Ratio Comparison

COPJ has a 0.78% expense ratio, which is lower than WNTR's 1.01% expense ratio.

Dividends

COPJ vs. WNTR - Dividend Comparison

COPJ's dividend yield for the trailing twelve months is around 11.96%, less than WNTR's 106.86% yield.

Position	TTM	2025	2024	2023
COPJ Sprott Junior Copper Miners ETF	11.96%	11.57%	11.64%	2.48%
WNTR YieldMax Short MSTR Option Income Strategy ETF	106.86%	58.56%	0.00%	0.00%

Frequently Asked Questions

Can I hold both COPJ and WNTR in my portfolio?

COPJ and WNTR have a correlation of -0.28, 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 WNTR?

WNTR has higher volatility (17.89%) compared to COPJ (12.90%). In terms of maximum drawdown, COPJ dropped -32.28% vs WNTR's -42.65%.

Which ETF is better, COPJ or WNTR?

On 1-year performance, WNTR leads with 127.90% vs 66.26% for COPJ. On fees, COPJ is cheaper at 0.78% per year. On volatility, COPJ has been the lower-risk option at 12.90%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COPJ or WNTR?

Over the 1-year period, WNTR has performed better with a 127.90% return vs 66.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPJ or WNTR?

COPJ is cheaper with a 0.78% expense ratio, compared with 1.01% for WNTR.

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

WNTR has the higher dividend yield at 106.86%, compared with 11.96% for COPJ.

What is the main difference between COPJ and WNTR?

COPJ is categorized as Copper, while WNTR is Derivative Income. They also come from different issuers: Sprott and YieldMax. Their fees differ too: 0.78% for COPJ and 1.01% for WNTR.

Which has better risk-adjusted returns?

WNTR currently has the higher Sharpe Ratio (2.39 vs 1.45), 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.