COPP vs. SETM

Last updated Jun 24, 2026

COPP (Sprott Copper Miners ETF) and SETM (Sprott Critical Materials ETF) are both exchange-traded funds - COPP is a Copper fund tracking the Nasdaq Sprott Copper Miners Index, while SETM is a Materials fund tracking the Nasdaq Sprott Critical Materials Index. Both are passively managed. Over the past year, COPP returned 83.48% vs 95.17% for SETM. Their correlation of 0.80 suggests significant overlap in exposure. Both charge a 0.65% expense ratio.

Performance

COPP vs. SETM - Performance Comparison

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

Returns By Period

In the year-to-date period, COPP achieves a 11.86% return, which is significantly higher than SETM's 11.16% return.

COPP

• 1D: -6.21%
• 1M: -1.59%
• YTD: 11.86%
• 6M: 10.91%
• 1Y: 83.48%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SETM

• 1D: -4.08%
• 1M: -8.14%
• YTD: 11.16%
• 6M: 8.97%
• 1Y: 95.17%
• 3Y*: 25.14%
• 5Y*: —
• 10Y*: —

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

COPP vs. SETM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
COPP Sprott Copper Miners ETF	11.86%	74.02%	4.25%
SETM Sprott Critical Materials ETF	11.16%	95.27%	-3.01%

Correlation

The correlation between COPP and SETM is 0.77, 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	0.77
Correlation (All Time) Calculated using the full available price history since Mar 6, 2024	0.80

The correlation between COPP and SETM has been stable across timeframes, ranging from 0.77 to 0.80 - a consistent structural relationship.

COPP vs. SETM - Sectors Allocation Comparison

Sectors	COPP	SETM
Basic Materials	99.1%	76.0%
Financial Services	0.3%	-
Consumer Cyclical	0.1%	-
Industrials	0.1%	1.0%
Energy	0.1%	22.9%
Technology	0.1%	0.1%
Consumer Defensive	0.1%	0.1%
Healthcare	0.1%	-
Communication Services	0.1%	-
Utilities	0.0%	-
Real Estate	0.0%	-

Return for Risk

COPP vs. SETM — Risk / Return Rank

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

COPP

COPP Risk / Return Rank: 54
COPP Sharpe Ratio Rank: 57
COPP Sortino Ratio Rank: 48
COPP Omega Ratio Rank: 49
COPP Calmar Ratio Rank: 61
COPP Martin Ratio Rank: 57

SETM

SETM Risk / Return Rank: 61
SETM Sharpe Ratio Rank: 66
SETM Sortino Ratio Rank: 51
SETM Omega Ratio Rank: 53
SETM Calmar Ratio Rank: 75
SETM Martin Ratio Rank: 62

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. SETM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Copper Miners ETF (COPP) and Sprott Critical Materials ETF (SETM). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	COPP	SETM	Difference
Sharpe ratio: Return per unit of total volatility	1.85	2.05	-0.20
Sortino ratio: Return per unit of downside risk	2.30	2.41	-0.11
Omega ratio: Gain probability vs. loss probability	1.30	1.32	-0.02
Calmar ratio: Return relative to maximum drawdown	2.90	3.70	-0.80
Martin ratio: Return relative to average drawdown	9.67	10.56	-0.89

COPP vs. SETM - Sharpe Ratio Comparison

The current COPP Sharpe Ratio is 1.85, which is comparable to the SETM Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of COPP and SETM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

COPP vs. SETM - Drawdown Comparison

The maximum COPP drawdown since its inception was -44.37%, roughly equal to the maximum SETM drawdown of -42.81%. Use the drawdown chart below to compare losses from any high point for COPP and SETM.

Drawdown Indicators

	COPP	SETM	Difference
Max Drawdown Largest peak-to-trough decline	-44.37%	-42.81%	-1.56%
Max Drawdown (1Y) Largest decline over 1 year	-28.91%	-25.85%	-3.06%
Max Drawdown (3Y) Largest decline over 3 years	—	-42.81%	—
Current Drawdown Current decline from peak	-14.79%	-19.00%	+4.21%
Average Drawdown Average peak-to-trough decline	-13.90%	-15.03%	+1.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.66%	9.04%	-0.38%

Volatility

COPP vs. SETM - Volatility Comparison

Sprott Copper Miners ETF (COPP) has a higher volatility of 18.53% compared to Sprott Critical Materials ETF (SETM) at 17.16%. This indicates that COPP's price experiences larger fluctuations and is considered to be riskier than SETM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPP	SETM	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.53%	17.16%	+1.37%
Volatility (6M) Calculated over the trailing 6-month period	39.30%	37.55%	+1.75%
Volatility (1Y) Calculated over the trailing 1-year period	45.29%	46.69%	-1.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.61%	37.23%	+4.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.61%	37.23%	+4.38%

COPP vs. SETM - Expense Ratio Comparison

Both COPP and SETM have an expense ratio of 0.65%.

Dividends

COPP vs. SETM - Dividend Comparison

COPP's dividend yield for the trailing twelve months is around 2.12%, more than SETM's 1.41% yield.

Position	TTM	2025	2024	2023
COPP Sprott Copper Miners ETF	2.12%	2.37%	2.59%	0.00%
SETM Sprott Critical Materials ETF	1.41%	1.56%	2.07%	2.47%

Frequently Asked Questions

Can I hold both COPP and SETM in my portfolio?

COPP and SETM have a correlation of 0.77, 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 SETM?

COPP has higher volatility (18.53%) compared to SETM (17.16%). In terms of maximum drawdown, COPP dropped -44.37% vs SETM's -42.81%.

Which ETF is better, COPP or SETM?

On 1-year performance, SETM leads with 95.17% vs 83.48% for COPP. Both ETFs have the same 0.65% expense ratio. On volatility, SETM has been the lower-risk option at 17.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COPP or SETM?

Over the 1-year period, SETM has performed better with a 95.17% return vs 83.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPP or SETM?

COPP and SETM have the same expense ratio: 0.65% per year.

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

COPP has the higher dividend yield at 2.12%, compared with 1.41% for SETM.

What is the main difference between COPP and SETM?

COPP is categorized as Copper, while SETM is Materials. COPP tracks Nasdaq Sprott Copper Miners Index, while SETM tracks Nasdaq Sprott Critical Materials Index.

Which has better risk-adjusted returns?

SETM currently has the higher Sharpe Ratio (2.05 vs 1.85), 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.