COPP vs. GBUG

Last updated Jun 4, 2026

COPP (Sprott Copper Miners ETF) and GBUG (Sprott Active Gold & Silver Miners ETF) are both exchange-traded funds - COPP is a Commodity Producers Equities fund tracking the Nasdaq Sprott Copper Miners Index, while GBUG is a Gold fund actively managed by Sprott. COPP is passively managed, while GBUG is actively managed. Over the past year, COPP returned 111.49% vs 61.69% for GBUG. A 0.58 correlation means they provide meaningful diversification when combined. COPP charges 0.65%/yr vs 0.89%/yr for GBUG.

Performance

COPP vs. GBUG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Copper Miners ETF (COPP) and Sprott Active Gold & Silver Miners ETF (GBUG). 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 higher than GBUG's -2.59% return.

COPP

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

GBUG

• 1D: -3.86%
• 1M: -0.28%
• YTD: -2.59%
• 6M: 6.69%
• 1Y: 61.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

COPP vs. GBUG - Yearly Performance Comparison

	2026 (YTD)	2025
COPP Sprott Copper Miners ETF	26.69%	66.62%
GBUG Sprott Active Gold & Silver Miners ETF	-2.59%	119.00%

Correlation

The correlation between COPP and GBUG is 0.63, 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	0.63
Correlation (All Time) Calculated using the full available price history since Feb 21, 2025	0.58

The correlation between COPP and GBUG has been stable across timeframes, ranging from 0.58 to 0.63 - a consistent structural relationship.

Return for Risk

COPP vs. GBUG — 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

GBUG

GBUG Risk / Return Rank: 35
GBUG Sharpe Ratio Rank: 36
GBUG Sortino Ratio Rank: 32
GBUG Omega Ratio Rank: 36
GBUG Calmar Ratio Rank: 39
GBUG Martin Ratio Rank: 33

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. GBUG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Copper Miners ETF (COPP) and Sprott Active Gold & Silver Miners ETF (GBUG). 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	GBUG	Difference
Sharpe ratio: Return per unit of total volatility	2.62	1.30	+1.32
Sortino ratio: Return per unit of downside risk	2.98	1.72	+1.26
Omega ratio: Gain probability vs. loss probability	1.38	1.24	+0.14
Calmar ratio: Return relative to maximum drawdown	3.88	1.93	+1.95
Martin ratio: Return relative to average drawdown	13.39	4.98	+8.41
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. GBUG - Sharpe Ratio Comparison

The current COPP Sharpe Ratio is 2.62, which is higher than the GBUG Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of COPP and GBUG, 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	GBUG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	1.30	+1.32
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	1.71	-0.60

Drawdowns

COPP vs. GBUG - Drawdown Comparison

The maximum COPP drawdown since its inception was -44.37%, which is greater than GBUG's maximum drawdown of -32.10%. Use the drawdown chart below to compare losses from any high point for COPP and GBUG.

Drawdown Indicators

	COPP	GBUG	Difference
Max Drawdown Largest peak-to-trough decline	-44.37%	-32.10%	-12.27%
Max Drawdown (1Y) Largest decline over 1 year	-28.91%	-32.10%	+3.19%
Current Drawdown Current decline from peak	-3.50%	-26.84%	+23.34%
Average Drawdown Average peak-to-trough decline	-14.02%	-7.62%	-6.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.35%	12.42%	-4.07%

Volatility

COPP vs. GBUG - Volatility Comparison

Sprott Copper Miners ETF (COPP) and Sprott Active Gold & Silver Miners ETF (GBUG) have volatilities of 15.22% and 15.39%, 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	GBUG	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.22%	15.39%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	36.30%	39.40%	-3.10%
Volatility (1Y) Calculated over the trailing 1-year period	42.84%	47.61%	-4.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.80%	47.38%	-6.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.80%	47.38%	-6.58%

COPP vs. GBUG - Expense Ratio Comparison

COPP has a 0.65% expense ratio, which is lower than GBUG's 0.89% expense ratio.

Dividends

COPP vs. GBUG - Dividend Comparison

COPP's dividend yield for the trailing twelve months is around 1.87%, more than GBUG's 1.60% yield.

Position	TTM	2025	2024
COPP Sprott Copper Miners ETF	1.87%	2.37%	2.59%
GBUG Sprott Active Gold & Silver Miners ETF	1.60%	1.56%	0.00%

Frequently Asked Questions

Can I hold both COPP and GBUG in my portfolio?

COPP and GBUG have a correlation of 0.63, 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 GBUG?

GBUG has higher volatility (15.39%) compared to COPP (15.22%). In terms of maximum drawdown, COPP dropped -44.37% vs GBUG's -32.10%.

Which ETF is better, COPP or GBUG?

On 1-year performance, COPP leads with 111.49% vs 61.69% for GBUG. On fees, COPP is cheaper at 0.65% per year. On volatility, COPP has been the lower-risk option at 15.22%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COPP or GBUG?

Over the 1-year period, COPP has performed better with a 111.49% return vs 61.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPP or GBUG?

COPP is cheaper with a 0.65% expense ratio, compared with 0.89% for GBUG.

Which ETF pays a higher dividend yield, COPP or GBUG?

COPP has the higher dividend yield at 1.87%, compared with 1.60% for GBUG.

What is the main difference between COPP and GBUG?

COPP is categorized as Commodity Producers Equities, while GBUG is Gold. Their fees differ too: 0.65% for COPP and 0.89% for GBUG.

Which has better risk-adjusted returns?

COPP currently has the higher Sharpe Ratio (2.62 vs 1.30), 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.