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

COPP.TO vs. XMA.TO

Last updated Jun 4, 2026

COPP.TO (Global X Copper Producers Index ETF) and XMA.TO (iShares S&P/TSX Capped Materials 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 XMA.TO is a Materials fund tracking the S&P/TSX Capped Materials TR. Both are passively managed. Over the past 3 years, COPP.TO returned 37.91%/yr vs 35.49%/yr for XMA.TO. A 0.57 correlation means they provide meaningful diversification when combined. COPP.TO charges 0.65%/yr vs 0.60%/yr for XMA.TO.

Performance

COPP.TO vs. XMA.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 Capped Materials Index ETF (XMA.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 higher than XMA.TO's 7.60% return.

COPP.TO

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

XMA.TO

1D
-3.13%
1M
5.70%
YTD
7.60%
6M
12.34%
1Y
64.71%
3Y*
35.49%
5Y*
20.09%
10Y*
14.00%
*Multi-year figures are annualized to reflect compound growth (CAGR)

COPP.TO vs. XMA.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%
XMA.TO
iShares S&P/TSX Capped Materials Index ETF		7.60%99.21%20.72%-2.04%-6.77%

Correlation

The correlation between COPP.TO and XMA.TO is 0.68, 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

0.68

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

0.61

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

0.57

The correlation between COPP.TO and XMA.TO shifts across timeframes, from 0.57 (all time) to 0.68 (1 year), reflecting how their relationship changes across market environments.

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

Sectors
COPP.TO
XMA.TO

Basic Materials

100.0%
98.4%

Communication Services

-

-

Consumer Cyclical

-

1.6%

Consumer Defensive

-

-

Energy

-

-

Financial Services

-

-

Healthcare

-

-

Industrials

-

0.0%

Real Estate

-

-

Technology

-

-

Utilities

-

-

Basic Materials

COPP.TO
100.0%
XMA.TO
98.4%

Communication Services

COPP.TO

-

XMA.TO

-

Consumer Cyclical

COPP.TO

-

XMA.TO
1.6%

Consumer Defensive

COPP.TO

-

XMA.TO

-

Energy

COPP.TO

-

XMA.TO

-

Financial Services

COPP.TO

-

XMA.TO

-

Healthcare

COPP.TO

-

XMA.TO

-

Industrials

COPP.TO

-

XMA.TO
0.0%

Real Estate

COPP.TO

-

XMA.TO

-

Technology

COPP.TO

-

XMA.TO

-

Utilities

COPP.TO

-

XMA.TO

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Global X Copper Producers Index ETF

iShares S&P/TSX Capped Materials 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 XMA.TO:
XMA.TO vs. XGD.TOXMA.TO vs. XETM.TOXMA.TO vs. XIC.TOXMA.TO vs. ZUT.TOXMA.TO vs. XIT.TOXMA.TO vs. XEQT.TOXMA.TO vs. XBM.TO

Return for Risk

COPP.TO vs. XMA.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
XMA.TO
XMA.TO Risk / Return Rank: 4646
Overall Rank
XMA.TO Sharpe Ratio Rank: 5050
Sharpe Ratio Rank
XMA.TO Sortino Ratio Rank: 4141
Sortino Ratio Rank
XMA.TO Omega Ratio Rank: 4848
Omega Ratio Rank
XMA.TO Calmar Ratio Rank: 4848
Calmar Ratio Rank
XMA.TO Martin Ratio Rank: 4242
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. XMA.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 Capped Materials Index ETF (XMA.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.TOXMA.TODifference
Sharpe ratioReturn per unit of total volatility
2.64
1.75

+0.89

Sortino ratioReturn per unit of downside risk
2.99
2.11

+0.88

Omega ratioGain probability vs. loss probability

1.39

1.31

+0.08

Calmar ratioReturn relative to maximum drawdown

3.80

2.41

+1.39

Martin ratioReturn relative to average drawdown

12.93

6.76

+6.17

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. XMA.TO - Sharpe Ratio Comparison

The current COPP.TO Sharpe Ratio is 2.64, which is higher than the XMA.TO Sharpe Ratio of 1.75. The chart below compares the historical Sharpe Ratios of COPP.TO and XMA.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.TOXMA.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.64

1.75

+0.89

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.73

—

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

—

0.53

—

Sharpe Ratio (All Time)

Calculated using the full available price history

0.70

0.28

+0.42

Drawdowns

COPP.TO vs. XMA.TO - Drawdown Comparison

The maximum COPP.TO drawdown since its inception was -40.80%, smaller than the maximum XMA.TO drawdown of -64.13%. Use the drawdown chart below to compare losses from any high point for COPP.TO and XMA.TO.

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Drawdown Indicators

COPP.TOXMA.TODifference

Max Drawdown

Largest peak-to-trough decline

-40.80%

-64.13%

+23.33%

Max Drawdown (1Y)

Largest decline over 1 year

-28.09%

-26.96%

-1.13%

Max Drawdown (3Y)

Largest decline over 3 years

-40.80%

-26.96%

-13.84%

Max Drawdown (5Y)

Largest decline over 5 years

—

-33.06%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-33.06%

—

Current Drawdown

Current decline from peak

-3.42%

-18.76%

+15.34%

Average Drawdown

Average peak-to-trough decline

-14.06%

-26.31%

+12.25%

Ulcer Index

Depth and duration of drawdowns from previous peaks

8.25%

9.60%

-1.35%

Volatility

COPP.TO vs. XMA.TO - Volatility Comparison

Global X Copper Producers Index ETF (COPP.TO) has a higher volatility of 14.84% compared to iShares S&P/TSX Capped Materials Index ETF (XMA.TO) at 13.42%. This indicates that COPP.TO's price experiences larger fluctuations and is considered to be riskier than XMA.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.TOXMA.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

14.84%

13.42%

+1.42%

Volatility (6M)

Calculated over the trailing 6-month period

33.82%

30.86%

+2.96%

Volatility (1Y)

Calculated over the trailing 1-year period

40.46%

37.08%

+3.38%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

38.39%

27.55%

+10.84%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

38.39%

26.56%

+11.83%

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

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

Dividends

COPP.TO vs. XMA.TO - Dividend Comparison

COPP.TO's dividend yield for the trailing twelve months is around 0.14%, less than XMA.TO's 0.37% 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%
XMA.TO
iShares S&P/TSX Capped Materials Index ETF		0.37%0.41%0.83%1.26%1.24%0.87%0.63%0.62%0.72%0.42%0.82%1.90%

Frequently Asked Questions

COPP.TO and XMA.TO have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

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

XMA.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 XMA.TO is Materials. COPP.TO tracks Solactive North American Listed Copper Producers Index, while XMA.TO tracks S&P/TSX Capped Materials TR. They also come from different issuers: Global X and iShares. Their fees differ too: 0.65% for COPP.TO and 0.60% for XMA.TO.

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