COPP.L vs. CPXR
COPP.L (Sprott Pure Play Copper Miners UCITS ETF) and CPXR (USCF Daily Target 2X Copper Index ETF) are both Copper funds - COPP.L tracks the Nasdaq Sprott Copper Miners Index while CPXR tracks the SummerHaven Copper Index. Both are passively managed. Over the past year, COPP.L returned 91.87% vs 21.60% for CPXR. A 0.54 correlation means they provide meaningful diversification when combined. COPP.L charges 0.65%/yr vs 1.20%/yr for CPXR.
Performance
COPP.L vs. CPXR - Performance Comparison
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Different Trading Currencies
COPP.L is traded in GBP, while CPXR is traded in USD. To make them comparable, the CPXR values have been converted to GBP using the latest available exchange rates.
Returns By Period
In the year-to-date period, COPP.L achieves a 5.97% return, which is significantly lower than CPXR's 8.07% return.
COPP.L
- 1D
- 0.00%
- 1M
- -8.00%
- YTD
- 5.97%
- 6M
- 3.80%
- 1Y
- 91.87%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CPXR
- 1D
- 3.32%
- 1M
- -9.16%
- YTD
- 8.07%
- 6M
- 12.18%
- 1Y
- 21.60%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
COPP.L vs. CPXR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
COPP.L Sprott Pure Play Copper Miners UCITS ETF | 5.97% | 77.23% |
CPXR USCF Daily Target 2X Copper Index ETF | 8.07% | 23.99% |
Correlation
The correlation between COPP.L and CPXR is 0.60, 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 | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jan 22, 2025 | 0.54 |
The correlation between COPP.L and CPXR has been stable across timeframes, ranging from 0.54 to 0.60 - a consistent structural relationship.
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Return for Risk
COPP.L vs. CPXR — Risk / Return Rank
COPP.L
CPXR
COPP.L vs. CPXR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Pure Play Copper Miners UCITS ETF (COPP.L) and USCF Daily Target 2X Copper Index ETF (CPXR). 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.
| COPP.L | CPXR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.24 | ||
| Sortino ratioReturn per unit of downside risk | +1.38 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.14 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.31 | 0.46 | +2.85 |
| Martin ratioReturn relative to average drawdown | 7.86 | 0.85 | +7.01 |
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Drawdowns
COPP.L vs. CPXR - Drawdown Comparison
The maximum COPP.L drawdown since its inception was -36.29%, smaller than the maximum CPXR drawdown of -47.04%. Use the drawdown chart below to compare losses from any high point for COPP.L and CPXR.
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Drawdown Indicators
| COPP.L | CPXR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -36.29% | -47.04% | +10.75% |
Max Drawdown (1Y)Largest decline over 1 year | -27.75% | -47.04% | +19.29% |
Current DrawdownCurrent decline from peak | -16.15% | -15.71% | -0.44% |
Average DrawdownAverage peak-to-trough decline | -12.22% | -19.73% | +7.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.69% | 25.58% | -13.89% |
Volatility
COPP.L vs. CPXR - Volatility Comparison
The current volatility for Sprott Pure Play Copper Miners UCITS ETF (COPP.L) is 15.77%, while USCF Daily Target 2X Copper Index ETF (CPXR) has a volatility of 17.73%. This indicates that COPP.L experiences smaller price fluctuations and is considered to be less risky than CPXR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COPP.L | CPXR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.77% | 17.73% | -1.96% |
Volatility (6M)Calculated over the trailing 6-month period | 36.53% | 44.56% | -8.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.99% | 68.14% | -9.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4,908.42% | 66.24% | +4,842.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4,908.42% | 66.24% | +4,842.18% |
COPP.L vs. CPXR - Expense Ratio Comparison
COPP.L has a 0.65% expense ratio, which is lower than CPXR's 1.20% expense ratio.
Dividends
COPP.L vs. CPXR - Dividend Comparison
COPP.L has not paid dividends to shareholders, while CPXR's dividend yield for the trailing twelve months is around 0.66%.
| Position | TTM | 2025 |
|---|---|---|
COPP.L Sprott Pure Play Copper Miners UCITS ETF | 0.00% | 0.00% |
CPXR USCF Daily Target 2X Copper Index ETF | 0.66% | 0.70% |
Frequently Asked Questions
COPP.L and CPXR have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, COPP.L is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.
COPP.L is cheaper with a 0.65% expense ratio, compared with 1.20% for CPXR.
COPP.L tracks Nasdaq Sprott Copper Miners Index, while CPXR tracks SummerHaven Copper Index. They also come from different issuers: Sprott and USCF. Their fees differ too: 0.65% for COPP.L and 1.20% for CPXR.
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