COPP vs. FCX

Last updated Jun 4, 2026

COPP (Sprott Copper Miners ETF) is Commodity Producers Equities fund tracking the Nasdaq Sprott Copper Miners Index, while FCX (Freeport-McMoRan Inc.) is a stock. Over the past year, COPP returned 111.49% vs 77.59% for FCX. Their correlation of 0.90 suggests significant overlap in exposure.

Performance

COPP vs. FCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Copper Miners ETF (COPP) and Freeport-McMoRan Inc. (FCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COPP achieves a 26.69% return, which is significantly lower than FCX's 39.74% return.

COPP

• 1D: -3.50%
• 1M: 22.98%
• YTD: 26.69%
• 6M: 39.51%
• 1Y: 111.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FCX

• 1D: -1.51%
• 1M: 27.12%
• YTD: 39.74%
• 6M: 59.38%
• 1Y: 77.59%
• 3Y*: 25.51%
• 5Y*: 12.50%
• 10Y*: 21.48%

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

COPP vs. FCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024
COPP Sprott Copper Miners ETF	26.69%	74.02%	4.18%
FCX Freeport-McMoRan Inc.	39.74%	35.41%	0.74%

Correlation

The correlation between COPP and FCX is 0.88, 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	0.88
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.90

The correlation between COPP and FCX has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

Return for Risk

COPP vs. FCX — Risk / Return Rank

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

COPP

COPP Risk / Return Rank: 70
COPP Sharpe Ratio Rank: 79
COPP Sortino Ratio Rank: 62
COPP Omega Ratio Rank: 61
COPP Calmar Ratio Rank: 76
COPP Martin Ratio Rank: 70

FCX

FCX Risk / Return Rank: 80
FCX Sharpe Ratio Rank: 83
FCX Sortino Ratio Rank: 74
FCX Omega Ratio Rank: 77
FCX Calmar Ratio Rank: 83
FCX Martin Ratio Rank: 83

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 vs. FCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Copper Miners ETF (COPP) and Freeport-McMoRan Inc. (FCX). 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	FCX	Difference
Sharpe ratio: Return per unit of total volatility	2.62	1.64	+0.97
Sortino ratio: Return per unit of downside risk	2.98	1.99	+0.99
Omega ratio: Gain probability vs. loss probability	1.38	1.29	+0.10
Calmar ratio: Return relative to maximum drawdown	3.88	3.13	+0.75
Martin ratio: Return relative to average drawdown	13.39	7.90	+5.49
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 vs. FCX - Sharpe Ratio Comparison

The current COPP Sharpe Ratio is 2.62, which is higher than the FCX Sharpe Ratio of 1.64. The chart below compares the historical Sharpe Ratios of COPP and FCX, 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	FCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	1.64	+0.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.28	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.44	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.16	+0.95

Drawdowns

COPP vs. FCX - Drawdown Comparison

The maximum COPP drawdown since its inception was -44.37%, smaller than the maximum FCX drawdown of -92.52%. Use the drawdown chart below to compare losses from any high point for COPP and FCX.

Drawdown Indicators

	COPP	FCX	Difference
Max Drawdown Largest peak-to-trough decline	-44.37%	-92.52%	+48.15%
Max Drawdown (1Y) Largest decline over 1 year	-28.91%	-24.90%	-4.01%
Max Drawdown (3Y) Largest decline over 3 years	—	-46.34%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-51.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-72.59%	—
Current Drawdown Current decline from peak	-3.50%	-1.51%	-1.99%
Average Drawdown Average peak-to-trough decline	-14.02%	-39.65%	+25.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.35%	9.85%	-1.50%

Volatility

COPP vs. FCX - Volatility Comparison

Sprott Copper Miners ETF (COPP) has a higher volatility of 15.22% compared to Freeport-McMoRan Inc. (FCX) at 14.37%. This indicates that COPP's price experiences larger fluctuations and is considered to be riskier than FCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPP	FCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.22%	14.37%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	36.30%	35.63%	+0.67%
Volatility (1Y) Calculated over the trailing 1-year period	42.84%	47.46%	-4.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.80%	44.84%	-4.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.80%	48.61%	-7.81%

Dividends

COPP vs. FCX - Dividend Comparison

COPP's dividend yield for the trailing twelve months is around 1.87%, more than FCX's 0.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COPP Sprott Copper Miners ETF	1.87%	2.37%	2.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FCX Freeport-McMoRan Inc.	0.85%	1.18%	1.58%	1.41%	0.99%	0.54%	0.19%	1.52%	1.45%	0.00%	0.00%	8.46%

Frequently Asked Questions

Can I hold both COPP and FCX in my portfolio?

COPP and FCX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COPP or FCX?

COPP has higher volatility (15.22%) compared to FCX (14.37%). In terms of maximum drawdown, COPP dropped -44.37% vs FCX's -92.52%.

Which has better risk-adjusted returns?

COPP currently has the higher Sharpe Ratio (2.62 vs 1.64), 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.