COPP.TO vs. CCO.TO

Last updated Jun 4, 2026

COPP.TO (Global X Copper Producers Index ETF) is Commodity Producers Equities fund tracking the Solactive North American Listed Copper Producers Index, while CCO.TO (Cameco Corporation) is a stock. Over the past 3 years, COPP.TO returned 37.91%/yr vs 58.39%/yr for CCO.TO. At a 0.33 correlation, their price movements are largely independent.

Performance

COPP.TO vs. CCO.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Global X Copper Producers Index ETF (COPP.TO) and Cameco Corporation (CCO.TO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with COPP.TO having a 26.77% return and CCO.TO slightly higher at 26.93%.

COPP.TO

• 1D: -3.42%
• 1M: 25.24%
• YTD: 26.77%
• 6M: 34.64%
• 1Y: 106.26%
• 3Y*: 37.91%
• 5Y*: —
• 10Y*: —

CCO.TO

• 1D: -4.40%
• 1M: -1.05%
• YTD: 26.93%
• 6M: 27.80%
• 1Y: 95.25%
• 3Y*: 58.39%
• 5Y*: 44.28%
• 10Y*: 27.60%

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

COPP.TO vs. CCO.TO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
COPP.TO Global X Copper Producers Index ETF	26.77%	66.80%	15.35%	11.74%	-4.85%
CCO.TO Cameco Corporation	26.93%	70.37%	29.62%	86.52%	1.95%

Correlation

The correlation between COPP.TO and CCO.TO is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.38
Correlation (All Time) Calculated using the full available price history since May 18, 2022	0.33

The correlation between COPP.TO and CCO.TO shifts across timeframes, from 0.33 (all time) to 0.49 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

COPP.TO vs. CCO.TO — Risk / Return Rank

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

COPP.TO

COPP.TO Risk / Return Rank: 71
COPP.TO Sharpe Ratio Rank: 81
COPP.TO Sortino Ratio Rank: 65
COPP.TO Omega Ratio Rank: 65
COPP.TO Calmar Ratio Rank: 76
COPP.TO Martin Ratio Rank: 70

CCO.TO

CCO.TO Risk / Return Rank: 84
CCO.TO Sharpe Ratio Rank: 85
CCO.TO Sortino Ratio Rank: 83
CCO.TO Omega Ratio Rank: 80
CCO.TO Calmar Ratio Rank: 86
CCO.TO Martin Ratio Rank: 85

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.

COPP.TO vs. CCO.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Copper Producers Index ETF (COPP.TO) and Cameco Corporation (CCO.TO). 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.

	COPP.TO	CCO.TO	Difference
Sharpe ratio: Return per unit of total volatility	2.64	1.78	+0.86
Sortino ratio: Return per unit of downside risk	2.99	2.57	+0.42
Omega ratio: Gain probability vs. loss probability	1.39	1.31	+0.08
Calmar ratio: Return relative to maximum drawdown	3.80	3.85	-0.05
Martin ratio: Return relative to average drawdown	12.93	8.84	+4.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COPP.TO vs. CCO.TO - Sharpe Ratio Comparison

The current COPP.TO Sharpe Ratio is 2.64, which is higher than the CCO.TO Sharpe Ratio of 1.78. The chart below compares the historical Sharpe Ratios of COPP.TO and CCO.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	COPP.TO	CCO.TO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.64	1.78	+0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.93	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.70	0.37	+0.32

Drawdowns

COPP.TO vs. CCO.TO - Drawdown Comparison

The maximum COPP.TO drawdown since its inception was -40.80%, smaller than the maximum CCO.TO drawdown of -83.63%. Use the drawdown chart below to compare losses from any high point for COPP.TO and CCO.TO.

Drawdown Indicators

	COPP.TO	CCO.TO	Difference
Max Drawdown Largest peak-to-trough decline	-40.80%	-83.63%	+42.83%
Max Drawdown (1Y) Largest decline over 1 year	-28.09%	-24.86%	-3.23%
Max Drawdown (3Y) Largest decline over 3 years	-40.80%	-39.52%	-1.28%
Max Drawdown (5Y) Largest decline over 5 years	—	-39.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-52.84%	—
Current Drawdown Current decline from peak	-3.42%	-12.19%	+8.77%
Average Drawdown Average peak-to-trough decline	-14.06%	-39.05%	+24.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.25%	10.81%	-2.56%

Volatility

COPP.TO vs. CCO.TO - Volatility Comparison

Global X Copper Producers Index ETF (COPP.TO) and Cameco Corporation (CCO.TO) have volatilities of 14.84% and 15.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPP.TO	CCO.TO	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.84%	15.48%	-0.64%
Volatility (6M) Calculated over the trailing 6-month period	33.82%	36.84%	-3.02%
Volatility (1Y) Calculated over the trailing 1-year period	40.46%	53.75%	-13.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	38.39%	47.74%	-9.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.39%	44.95%	-6.56%

Dividends

COPP.TO vs. CCO.TO - Dividend Comparison

COPP.TO's dividend yield for the trailing twelve months is around 0.14%, less than CCO.TO's 0.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CCO.TO Cameco Corporation	0.15%	0.19%	0.22%	0.21%	0.39%	0.29%	0.47%	0.69%	0.52%	3.45%	2.85%	2.34%
COPP.TO Global X Copper Producers Index ETF	0.14%	0.18%	0.19%	0.73%	1.20%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both COPP.TO and CCO.TO in my portfolio?

COPP.TO and CCO.TO have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.