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COPP.TO vs. XBM.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

COPP.TO vs. XBM.TO

Last updated Jun 4, 2026

COPP.TO (Global X Copper Producers Index ETF) and XBM.TO (iShares S&P/TSX Global Base Metals Index ETF) are both exchange-traded funds - COPP.TO is a Commodity Producers Equities fund tracking the Solactive North American Listed Copper Producers Index, while XBM.TO is a Energy Equities fund tracking the Morningstar Can Natural Resource NR CAD. Both are passively managed. Over the past 3 years, COPP.TO returned 37.91%/yr vs 29.93%/yr for XBM.TO. A 0.75 correlation means they provide meaningful diversification when combined. COPP.TO charges 0.65%/yr vs 0.60%/yr for XBM.TO.

Performance

COPP.TO vs. XBM.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 iShares S&P/TSX Global Base Metals Index ETF (XBM.TO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, COPP.TO achieves a 26.77% return, which is significantly lower than XBM.TO's 38.48% return.

COPP.TO

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

XBM.TO

1D
-3.17%
1M
21.23%
YTD
38.48%
6M
46.72%
1Y
119.30%
3Y*
29.93%
5Y*
19.70%
10Y*
20.17%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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

2026 (YTD)2025202420232022
COPP.TO
Global X Copper Producers Index ETF		26.77%66.80%15.35%11.74%-4.85%
XBM.TO
iShares S&P/TSX Global Base Metals Index ETF		38.48%50.69%5.96%2.84%-3.45%

Correlation

The correlation between COPP.TO and XBM.TO is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.94

Correlation (3Y)
Calculated over the trailing 3-year period

0.83

Correlation (All Time)
Calculated using the full available price history since May 18, 2022

0.75

The correlation between COPP.TO and XBM.TO shifts across timeframes, from 0.75 (all time) to 0.94 (1 year), reflecting how their relationship changes across market environments.

COPP.TO vs. XBM.TO - Sectors Allocation Comparison

Sectors
COPP.TO
XBM.TO

Basic Materials

100.0%
99.8%

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

0.2%

Real Estate

-

-

Technology

-

-

Utilities

-

-

Basic Materials

COPP.TO
100.0%
XBM.TO
99.8%

Communication Services

COPP.TO

-

XBM.TO

-

Consumer Cyclical

COPP.TO

-

XBM.TO

-

Consumer Defensive

COPP.TO

-

XBM.TO

-

Energy

COPP.TO

-

XBM.TO

-

Financial Services

COPP.TO

-

XBM.TO

-

Healthcare

COPP.TO

-

XBM.TO

-

Industrials

COPP.TO

-

XBM.TO
0.2%

Real Estate

COPP.TO

-

XBM.TO

-

Technology

COPP.TO

-

XBM.TO

-

Utilities

COPP.TO

-

XBM.TO

-

Compare stocks, funds, or ETFs

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Global X Copper Producers Index ETF

iShares S&P/TSX Global Base Metals Index ETF

Often compared with COPP.TO:
COPP.TO vs. SETMCOPP.TO vs. COPPCOPP.TO vs. CPCC.TOCOPP.TO vs. GLDX.TOCOPP.TO vs. COPXCOPP.TO vs. HEP.TOCOPP.TO vs. HLIT.TO
Often compared with XBM.TO:
XBM.TO vs. XMEXBM.TO vs. ZMT.TOXBM.TO vs. XEG.TOXBM.TO vs. XETM.TOXBM.TO vs. GDXXBM.TO vs. VDEXBM.TO vs. XMA.TO

Return for Risk

COPP.TO vs. XBM.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: 7171
Overall Rank
COPP.TO Sharpe Ratio Rank: 8181
Sharpe Ratio Rank
COPP.TO Sortino Ratio Rank: 6565
Sortino Ratio Rank
COPP.TO Omega Ratio Rank: 6565
Omega Ratio Rank
COPP.TO Calmar Ratio Rank: 7676
Calmar Ratio Rank
COPP.TO Martin Ratio Rank: 7070
Martin Ratio Rank
XBM.TO
XBM.TO Risk / Return Rank: 8585
Overall Rank
XBM.TO Sharpe Ratio Rank: 9292
Sharpe Ratio Rank
XBM.TO Sortino Ratio Rank: 8080
Sortino Ratio Rank
XBM.TO Omega Ratio Rank: 8080
Omega Ratio Rank
XBM.TO Calmar Ratio Rank: 8787
Calmar Ratio Rank
XBM.TO Martin Ratio Rank: 8888
Martin Ratio Rank
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. XBM.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 iShares S&P/TSX Global Base Metals Index ETF (XBM.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.TOXBM.TODifference
Sharpe ratioReturn per unit of total volatility
2.64
3.37

-0.73

Sortino ratioReturn per unit of downside risk
2.99
3.67

-0.67

Omega ratioGain probability vs. loss probability

1.39

1.49

-0.10

Calmar ratioReturn relative to maximum drawdown

3.80

5.02

-1.22

Martin ratioReturn relative to average drawdown

12.93

19.44

-6.51

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. XBM.TO - Sharpe Ratio Comparison

The current COPP.TO Sharpe Ratio is 2.64, which is comparable to the XBM.TO Sharpe Ratio of 3.37. The chart below compares the historical Sharpe Ratios of COPP.TO and XBM.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.

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Sharpe Ratios by Period

COPP.TOXBM.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.64

3.37

-0.73

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.60

—

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

0.25

+0.45

Drawdowns

COPP.TO vs. XBM.TO - Drawdown Comparison

The maximum COPP.TO drawdown since its inception was -40.80%, smaller than the maximum XBM.TO drawdown of -67.40%. Use the drawdown chart below to compare losses from any high point for COPP.TO and XBM.TO.

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Drawdown Indicators

COPP.TOXBM.TODifference

Max Drawdown

Largest peak-to-trough decline

-40.80%

-67.40%

+26.60%

Max Drawdown (1Y)

Largest decline over 1 year

-28.09%

-23.88%

-4.21%

Max Drawdown (3Y)

Largest decline over 3 years

-40.80%

-37.45%

-3.35%

Max Drawdown (5Y)

Largest decline over 5 years

—

-40.57%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-57.24%

—

Current Drawdown

Current decline from peak

-3.42%

-3.17%

-0.25%

Average Drawdown

Average peak-to-trough decline

-14.06%

-25.80%

+11.74%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.25%

6.16%

+2.09%

Volatility

COPP.TO vs. XBM.TO - Volatility Comparison

Global X Copper Producers Index ETF (COPP.TO) has a higher volatility of 14.84% compared to iShares S&P/TSX Global Base Metals Index ETF (XBM.TO) at 13.03%. This indicates that COPP.TO's price experiences larger fluctuations and is considered to be riskier than XBM.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

COPP.TOXBM.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

14.84%

13.03%

+1.81%

Volatility (6M)

Calculated over the trailing 6-month period

33.82%

29.68%

+4.14%

Volatility (1Y)

Calculated over the trailing 1-year period

40.46%

35.62%

+4.84%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

38.39%

33.06%

+5.33%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

38.39%

32.66%

+5.73%

COPP.TO vs. XBM.TO - Expense Ratio Comparison

COPP.TO has a 0.65% expense ratio, which is higher than XBM.TO's 0.60% expense ratio.

Dividends

COPP.TO vs. XBM.TO - Dividend Comparison

COPP.TO's dividend yield for the trailing twelve months is around 0.14%, less than XBM.TO's 0.62% yield.

PositionTTM20252024202320222021202020192018201720162015
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%
XBM.TO
iShares S&P/TSX Global Base Metals Index ETF		0.62%0.86%1.25%2.09%4.83%3.01%1.81%3.71%3.43%1.63%2.42%5.70%

Frequently Asked Questions

With a correlation of 0.94, COPP.TO and XBM.TO move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

On fees, XBM.TO is cheaper at 0.60% per year. The better choice depends on whether you care most about return, fees, risk, or income.

XBM.TO is cheaper with a 0.60% expense ratio, compared with 0.65% for COPP.TO.

COPP.TO is categorized as Commodity Producers Equities, while XBM.TO is Energy Equities. COPP.TO tracks Solactive North American Listed Copper Producers Index, while XBM.TO tracks Morningstar Can Natural Resource NR CAD. They also come from different issuers: Global X and iShares. Their fees differ too: 0.65% for COPP.TO and 0.60% for XBM.TO.

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