COPP vs. SPY

Last updated Aug 2, 2026

COPP (Sprott Copper Miners ETF) and SPY (State Street SPDR S&P 500 ETF) are both exchange-traded funds - COPP is a Copper fund tracking the Nasdaq Sprott Copper Miners Index, while SPY is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, COPP returned 82.28% vs 21.49% for SPY. Their 0.51 correlation means they have sometimes moved together and sometimes differently. COPP charges 0.65%/yr vs 0.09%/yr for SPY.

Performance

COPP vs. SPY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Copper Miners ETF (COPP) and State Street SPDR S&P 500 ETF (SPY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with COPP having a 10.34% return and SPY slightly lower at 10.13%.

COPP

• 1D: -1.26%
• 1M: 1.53%
• 6M: -3.95%
• YTD: 10.34%
• 1Y: 82.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 33.52%

SPY

• 1D: 0.72%
• 1M: 0.30%
• 6M: 8.53%
• YTD: 10.13%
• 1Y: 21.49%
• 3Y*: 19.32%
• 5Y*: 12.76%
• 10Y*: 15.07%
• ALL TIME*: 10.79%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
COPP Sprott Copper Miners ETF	$2.68M	$3.51M	$5.40M
SPY State Street SPDR S&P 500 ETF	$37.27B	$35.99B	$39.23B

COPP vs. SPY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
COPP Sprott Copper Miners ETF	10.34%	74.02%	4.25%
SPY State Street SPDR S&P 500 ETF	10.13%	17.72%	17.04%

Correlation

The correlation between COPP and SPY is 0.64, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.64
Correlation (All Time) Calculated using the full available price history since Mar 6, 2024	0.51

The correlation between COPP and SPY shifts across timeframes, from 0.51 (all time) to 0.64 (1 year), reflecting how their relationship changes across market environments.

COPP vs. SPY - Sectors Allocation Comparison

Sectors	COPP	SPY
Basic Materials	99.1%	1.9%
Financial Services	0.3%	12.5%
Consumer Cyclical	0.1%	8.9%
Industrials	0.1%	7.6%
Energy	0.1%	3.4%
Healthcare	0.1%	9.4%
Technology	0.1%	36.9%
Consumer Defensive	0.1%	4.8%
Communication Services	0.1%	9.7%
Utilities	0.0%	2.6%
Real Estate	0.0%	2.0%

Return for Risk

COPP vs. SPY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

COPP

COPP Risk / Return Rank: 72
COPP Sharpe Ratio Rank: 78
COPP Sortino Ratio Rank: 69
COPP Omega Ratio Rank: 67
COPP Calmar Ratio Rank: 79
COPP Martin Ratio Rank: 66

SPY

SPY Risk / Return Rank: 67
SPY Sharpe Ratio Rank: 67
SPY Sortino Ratio Rank: 64
SPY Omega Ratio Rank: 65
SPY Calmar Ratio Rank: 64
SPY Martin Ratio Rank: 76

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

COPP vs. SPY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Copper Miners ETF (COPP) and State Street SPDR S&P 500 ETF (SPY). 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	SPY	Difference
Sharpe ratio: Return per unit of total volatility	1.78	1.52	+0.26
Sortino ratio: Return per unit of downside risk	2.24	2.11	+0.13
Omega ratio: Gain probability vs. loss probability	1.28	1.27	+0.01
Calmar ratio: Return relative to maximum drawdown	2.82	2.20	+0.62
Martin ratio: Return relative to average drawdown	7.98	9.40	-1.42

COPP vs. SPY - Sharpe Ratio Comparison

The current COPP Sharpe Ratio is 1.78, which is comparable to the SPY Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of COPP and SPY, 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. SPY - Drawdown Comparison

The maximum COPP drawdown since its inception was -44.37%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for COPP and SPY.

Drawdown Indicators

	COPP	SPY	Difference
Max Drawdown Largest peak-to-trough decline	-44.37%	-55.19%	+10.82%
Max Drawdown (1Y) Largest decline over 1 year	-28.91%	-8.88%	-20.03%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.76%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.50%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.72%	—
Current Drawdown Current decline from peak	-15.95%	-1.40%	-14.55%
Average Drawdown Average peak-to-trough decline	-14.06%	-9.01%	-5.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.21%	2.08%	+8.13%

Volatility

COPP vs. SPY - Volatility Comparison

Sprott Copper Miners ETF (COPP) has a higher volatility of 12.99% compared to State Street SPDR S&P 500 ETF (SPY) at 3.58%. This indicates that COPP's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPP	SPY	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.99%	3.58%	+9.41%
Volatility (6M) Calculated over the trailing 6-month period	39.81%	10.14%	+29.67%
Volatility (1Y) Calculated over the trailing 1-year period	45.99%	12.89%	+33.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.68%	17.18%	+24.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	41.68%	17.95%	+23.73%

COPP vs. SPY - Expense Ratio Comparison

COPP has a 0.65% expense ratio, which is higher than SPY's 0.09% expense ratio.

Dividends

COPP vs. SPY - Dividend Comparison

COPP's dividend yield for the trailing twelve months is around 2.14%, more than SPY's 1.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COPP Sprott Copper Miners ETF	2.14%	2.37%	2.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPY State Street SPDR S&P 500 ETF	1.01%	1.07%	1.21%	1.40%	1.65%	1.20%	1.52%	1.75%	2.04%	1.80%	2.03%	2.06%

Frequently Asked Questions

Can I hold both COPP and SPY in my portfolio?

COPP and SPY have a correlation of 0.64, 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 SPY?

COPP has higher volatility (12.99%) compared to SPY (3.58%). In terms of maximum drawdown, COPP dropped -44.37% vs SPY's -55.19%.

Which ETF is better, COPP or SPY?

On 1-year performance, COPP leads with 82.28% vs 21.49% for SPY. On fees, SPY is cheaper at 0.09% per year. On volatility, SPY has been the lower-risk option at 3.58%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COPP or SPY?

Over the 1-year period, COPP has performed better with a 82.28% return vs 21.49%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPP or SPY?

SPY is cheaper with a 0.09% expense ratio, compared with 0.65% for COPP.

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

COPP has the higher dividend yield at 2.14%, compared with 1.01% for SPY.

What is the main difference between COPP and SPY?

COPP is categorized as Copper, while SPY is S&P 500. COPP tracks Nasdaq Sprott Copper Miners Index, while SPY tracks S&P 500 Index. They also come from different issuers: Sprott and State Street. Their fees differ too: 0.65% for COPP and 0.09% for SPY.

Which has better risk-adjusted returns?

COPP currently has the higher Sharpe Ratio (1.78 vs 1.52), 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.