COPP vs. USOY

Last updated Jun 4, 2026

COPP (Sprott Copper Miners ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - COPP is a Commodity Producers Equities fund tracking the Nasdaq Sprott Copper Miners Index, while USOY is a Derivative Income fund actively managed by Defiance. COPP is passively managed, while USOY is actively managed. Over the past year, COPP returned 111.49% vs 57.29% for USOY. At a 0.04 correlation, their price movements are largely independent. COPP charges 0.65%/yr vs 1.22%/yr for USOY.

Performance

COPP vs. USOY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Copper Miners ETF (COPP) and Defiance Oil Enhanced Options Income ETF (USOY). 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 USOY's 62.18% return.

COPP

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

USOY

• 1D: 1.45%
• 1M: -3.43%
• YTD: 62.18%
• 6M: 59.35%
• 1Y: 57.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

COPP vs. USOY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
COPP Sprott Copper Miners ETF	26.69%	74.02%	-19.99%
USOY Defiance Oil Enhanced Options Income ETF	62.18%	-7.93%	7.27%

Correlation

The correlation between COPP and USOY is -0.21, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.21
Correlation (All Time) Calculated using the full available price history since May 13, 2024	0.04

The correlation between COPP and USOY shifts across timeframes, from -0.21 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.

Return for Risk

COPP vs. USOY — 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

USOY

USOY Risk / Return Rank: 56
USOY Sharpe Ratio Rank: 55
USOY Sortino Ratio Rank: 46
USOY Omega Ratio Rank: 55
USOY Calmar Ratio Rank: 78
USOY Martin Ratio Rank: 46

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. USOY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Copper Miners ETF (COPP) and Defiance Oil Enhanced Options Income ETF (USOY). 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	USOY	Difference
Sharpe ratio: Return per unit of total volatility	2.62	1.89	+0.73
Sortino ratio: Return per unit of downside risk	2.98	2.30	+0.68
Omega ratio: Gain probability vs. loss probability	1.38	1.35	+0.03
Calmar ratio: Return relative to maximum drawdown	3.88	4.03	-0.15
Martin ratio: Return relative to average drawdown	13.39	7.74	+5.65
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. USOY - Sharpe Ratio Comparison

The current COPP Sharpe Ratio is 2.62, which is higher than the USOY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of COPP and USOY, 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	USOY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.62	1.89	+0.73
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.99	+0.12

Drawdowns

COPP vs. USOY - Drawdown Comparison

The maximum COPP drawdown since its inception was -44.37%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for COPP and USOY.

Drawdown Indicators

	COPP	USOY	Difference
Max Drawdown Largest peak-to-trough decline	-44.37%	-17.46%	-26.91%
Max Drawdown (1Y) Largest decline over 1 year	-28.91%	-14.29%	-14.62%
Current Drawdown Current decline from peak	-3.50%	-5.11%	+1.61%
Average Drawdown Average peak-to-trough decline	-14.02%	-6.47%	-7.55%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.35%	7.42%	+0.93%

Volatility

COPP vs. USOY - Volatility Comparison

Sprott Copper Miners ETF (COPP) has a higher volatility of 15.22% compared to Defiance Oil Enhanced Options Income ETF (USOY) at 11.62%. This indicates that COPP's price experiences larger fluctuations and is considered to be riskier than USOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPP	USOY	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.22%	11.62%	+3.60%
Volatility (6M) Calculated over the trailing 6-month period	36.30%	27.18%	+9.12%
Volatility (1Y) Calculated over the trailing 1-year period	42.84%	30.44%	+12.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.80%	26.13%	+14.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.80%	26.13%	+14.67%

COPP vs. USOY - Expense Ratio Comparison

COPP has a 0.65% expense ratio, which is lower than USOY's 1.22% expense ratio.

Dividends

COPP vs. USOY - Dividend Comparison

COPP's dividend yield for the trailing twelve months is around 1.87%, less than USOY's 54.16% yield.

Position	TTM	2025	2024
COPP Sprott Copper Miners ETF	1.87%	2.37%	2.59%
USOY Defiance Oil Enhanced Options Income ETF	54.16%	104.32%	48.60%

Frequently Asked Questions

Can I hold both COPP and USOY in my portfolio?

COPP and USOY have a correlation of -0.21, 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 USOY?

COPP has higher volatility (15.22%) compared to USOY (11.62%). In terms of maximum drawdown, COPP dropped -44.37% vs USOY's -17.46%.

Which ETF is better, COPP or USOY?

On 1-year performance, COPP leads with 111.49% vs 57.29% for USOY. On fees, COPP is cheaper at 0.65% per year. On volatility, USOY has been the lower-risk option at 11.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COPP or USOY?

Over the 1-year period, COPP has performed better with a 111.49% return vs 57.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPP or USOY?

COPP is cheaper with a 0.65% expense ratio, compared with 1.22% for USOY.

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

USOY has the higher dividend yield at 54.16%, compared with 1.87% for COPP.

What is the main difference between COPP and USOY?

COPP is categorized as Commodity Producers Equities, while USOY is Derivative Income. They also come from different issuers: Sprott and Defiance. Their fees differ too: 0.65% for COPP and 1.22% for USOY.

Which has better risk-adjusted returns?

COPP currently has the higher Sharpe Ratio (2.62 vs 1.89), 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.