COPP vs. URNM

Last updated Jun 4, 2026

COPP (Sprott Copper Miners ETF) and URNM (NorthShore Global Uranium Mining ETF) are both Commodity Producers Equities funds - COPP tracks the Nasdaq Sprott Copper Miners Index while URNM tracks the North Shore Global Uranium Mining Index. Both are passively managed. Over the past year, COPP returned 111.49% vs 52.67% for URNM. A 0.52 correlation means they provide meaningful diversification when combined. COPP charges 0.65%/yr vs 0.85%/yr for URNM.

Performance

COPP vs. URNM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Copper Miners ETF (COPP) and NorthShore Global Uranium Mining ETF (URNM). 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 URNM's 11.97% return.

COPP

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

URNM

• 1D: -5.94%
• 1M: -7.38%
• YTD: 11.97%
• 6M: 10.07%
• 1Y: 52.67%
• 3Y*: 27.00%
• 5Y*: 15.58%
• 10Y*: —

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

COPP vs. URNM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
COPP Sprott Copper Miners ETF	26.69%	74.02%	4.18%
URNM NorthShore Global Uranium Mining ETF	11.97%	40.78%	-14.46%

Correlation

The correlation between COPP and URNM is 0.52, 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	0.52
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.52

The correlation between COPP and URNM has been stable across timeframes, ranging from 0.52 to 0.52 - a consistent structural relationship.

COPP vs. URNM - Sectors Allocation Comparison

Sectors	COPP	URNM
Basic Materials	92.0%	2.6%
Financial Services	0.9%	-
Consumer Cyclical	0.1%	-
Industrials	0.1%	-
Energy	0.1%	97.4%
Technology	0.1%	-
Consumer Defensive	0.1%	-
Healthcare	0.1%	-
Communication Services	0.1%	-
Utilities	0.1%	-
Real Estate	0.0%	-

Return for Risk

COPP vs. URNM — 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

URNM

URNM Risk / Return Rank: 29
URNM Sharpe Ratio Rank: 28
URNM Sortino Ratio Rank: 30
URNM Omega Ratio Rank: 28
URNM Calmar Ratio Rank: 33
URNM Martin Ratio Rank: 26

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. URNM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Copper Miners ETF (COPP) and NorthShore Global Uranium Mining ETF (URNM). 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	URNM	Difference
Sharpe ratio: Return per unit of total volatility	2.62	1.03	+1.59
Sortino ratio: Return per unit of downside risk	2.98	1.66	+1.32
Omega ratio: Gain probability vs. loss probability	1.38	1.19	+0.19
Calmar ratio: Return relative to maximum drawdown	3.88	1.65	+2.23
Martin ratio: Return relative to average drawdown	13.39	3.59	+9.80
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. URNM - Sharpe Ratio Comparison

The current COPP Sharpe Ratio is 2.62, which is higher than the URNM Sharpe Ratio of 1.03. The chart below compares the historical Sharpe Ratios of COPP and URNM, 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	URNM	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	1.03	+1.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.32	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.67	+0.44

Drawdowns

COPP vs. URNM - Drawdown Comparison

The maximum COPP drawdown since its inception was -44.37%, smaller than the maximum URNM drawdown of -50.78%. Use the drawdown chart below to compare losses from any high point for COPP and URNM.

Drawdown Indicators

	COPP	URNM	Difference
Max Drawdown Largest peak-to-trough decline	-44.37%	-50.78%	+6.41%
Max Drawdown (1Y) Largest decline over 1 year	-28.91%	-32.04%	+3.13%
Max Drawdown (3Y) Largest decline over 3 years	—	-50.78%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-50.78%	—
Current Drawdown Current decline from peak	-3.50%	-26.82%	+23.32%
Average Drawdown Average peak-to-trough decline	-14.02%	-18.03%	+4.01%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.35%	14.71%	-6.36%

Volatility

COPP vs. URNM - Volatility Comparison

The current volatility for Sprott Copper Miners ETF (COPP) is 15.22%, while NorthShore Global Uranium Mining ETF (URNM) has a volatility of 16.19%. This indicates that COPP experiences smaller price fluctuations and is considered to be less risky than URNM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPP	URNM	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.22%	16.19%	-0.97%
Volatility (6M) Calculated over the trailing 6-month period	36.30%	40.32%	-4.02%
Volatility (1Y) Calculated over the trailing 1-year period	42.84%	51.69%	-8.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.80%	48.30%	-7.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.80%	46.90%	-6.10%

COPP vs. URNM - Expense Ratio Comparison

COPP has a 0.65% expense ratio, which is lower than URNM's 0.85% expense ratio.

Dividends

COPP vs. URNM - Dividend Comparison

COPP's dividend yield for the trailing twelve months is around 1.87%, less than URNM's 2.84% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
COPP Sprott Copper Miners ETF	1.87%	2.37%	2.59%	0.00%	0.00%	0.00%	0.00%
URNM NorthShore Global Uranium Mining ETF	2.84%	3.18%	3.18%	3.63%	0.00%	6.70%	2.57%

Frequently Asked Questions

Can I hold both COPP and URNM in my portfolio?

COPP and URNM have a correlation of 0.52, 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 URNM?

URNM has higher volatility (16.19%) compared to COPP (15.22%). In terms of maximum drawdown, COPP dropped -44.37% vs URNM's -50.78%.

Which ETF is better, COPP or URNM?

On 1-year performance, COPP leads with 111.49% vs 52.67% for URNM. 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 URNM?

Over the 1-year period, COPP has performed better with a 111.49% return vs 52.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPP or URNM?

COPP is cheaper with a 0.65% expense ratio, compared with 0.85% for URNM.

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

URNM has the higher dividend yield at 2.84%, compared with 1.87% for COPP.

What is the main difference between COPP and URNM?

COPP tracks Nasdaq Sprott Copper Miners Index, while URNM tracks North Shore Global Uranium Mining Index. They also come from different issuers: Sprott and Exchange Traded Concepts. Their fees differ too: 0.65% for COPP and 0.85% for URNM.

Which has better risk-adjusted returns?

COPP currently has the higher Sharpe Ratio (2.62 vs 1.03), 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.