COPX.L vs. SILG.L
COPX.L (Global X Copper Miners UCITS ETF USD (Acc)) and SILG.L (Global X Silver Miners UCITS ETF USD Accumulating) are both exchange-traded funds - COPX.L is a Copper fund tracking the Solactive Global Copper Miners v2 Index, while SILG.L is a Silver fund tracking the Solactive Global Silver Miners Total Return v2 Index. Both are passively managed. Over the past 3 years, COPX.L returned 27.60%/yr vs 41.58%/yr for SILG.L. A 0.68 correlation means they provide meaningful diversification when combined. COPX.L charges 0.55%/yr vs 0.65%/yr for SILG.L.
Performance
COPX.L vs. SILG.L - Performance Comparison
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Different Trading Currencies
COPX.L is traded in USD, while SILG.L is traded in GBP. To make them comparable, the SILG.L values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, COPX.L achieves a 6.60% return, which is significantly higher than SILG.L's -9.39% return.
COPX.L
- 1D
- -0.91%
- 1M
- -14.88%
- 6M
- -6.16%
- YTD
- 6.60%
- 1Y
- 77.96%
- 3Y*
- 27.60%
- 5Y*
- —
- 10Y*
- —
SILG.L
- 1D
- 0.00%
- 1M
- -13.36%
- 6M
- -20.80%
- YTD
- -9.39%
- 1Y
- 58.71%
- 3Y*
- 41.58%
- 5Y*
- —
- 10Y*
- —
COPX.L vs. SILG.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
COPX.L Global X Copper Miners UCITS ETF USD (Acc) | 6.60% | 95.08% | 2.12% | 9.04% | -4.69% |
SILG.L Global X Silver Miners UCITS ETF USD Accumulating | -9.39% | 173.15% | 11.64% | -1.40% | -9.85% |
Correlation
The correlation between COPX.L and SILG.L is 0.79, 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 | 0.79 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.68 |
Correlation (All Time) Calculated using the full available price history since May 6, 2022 | 0.68 |
The correlation between COPX.L and SILG.L shifts across timeframes, from 0.68 (all time) to 0.79 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
COPX.L vs. SILG.L — Risk / Return Rank
COPX.L
SILG.L
COPX.L vs. SILG.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Copper Miners UCITS ETF USD (Acc) (COPX.L) and Global X Silver Miners UCITS ETF USD Accumulating (SILG.L). 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.
| COPX.L | SILG.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.69 | ||
| Sortino ratioReturn per unit of downside risk | +0.69 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.20 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.79 | 1.52 | +1.27 |
| Martin ratioReturn relative to average drawdown | 7.24 | 3.40 | +3.84 |
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Drawdowns
COPX.L vs. SILG.L - Drawdown Comparison
The maximum COPX.L drawdown since its inception was -42.34%, which is greater than SILG.L's maximum drawdown of -38.86%. Use the drawdown chart below to compare losses from any high point for COPX.L and SILG.L.
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Drawdown Indicators
| COPX.L | SILG.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -42.34% | -38.86% | -3.48% |
Max Drawdown (1Y)Largest decline over 1 year | -27.82% | -38.86% | +11.04% |
Max Drawdown (3Y)Largest decline over 3 years | -37.96% | -38.86% | +0.90% |
Current DrawdownCurrent decline from peak | -20.44% | -35.74% | +15.30% |
Average DrawdownAverage peak-to-trough decline | -15.44% | -13.72% | -1.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.72% | 17.30% | -6.58% |
Volatility
COPX.L vs. SILG.L - Volatility Comparison
The current volatility for Global X Copper Miners UCITS ETF USD (Acc) (COPX.L) is 13.59%, while Global X Silver Miners UCITS ETF USD Accumulating (SILG.L) has a volatility of 15.78%. This indicates that COPX.L experiences smaller price fluctuations and is considered to be less risky than SILG.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COPX.L | SILG.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.59% | 15.78% | -2.19% |
Volatility (6M)Calculated over the trailing 6-month period | 38.17% | 44.46% | -6.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 44.08% | 55.10% | -11.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.59% | 43.42% | -5.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.59% | 43.42% | -5.83% |
COPX.L vs. SILG.L - Expense Ratio Comparison
COPX.L has a 0.55% expense ratio, which is lower than SILG.L's 0.65% expense ratio.
Dividends
COPX.L vs. SILG.L - Dividend Comparison
Neither COPX.L nor SILG.L has paid dividends to shareholders.
Frequently Asked Questions
COPX.L and SILG.L have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, COPX.L is cheaper at 0.55% per year. The better choice depends on whether you care most about return, fees, risk, or income.
COPX.L is cheaper with a 0.55% expense ratio, compared with 0.65% for SILG.L.
COPX.L is categorized as Copper, while SILG.L is Silver. COPX.L tracks Solactive Global Copper Miners v2 Index, while SILG.L tracks Solactive Global Silver Miners Total Return v2 Index. Their fees differ too: 0.55% for COPX.L and 0.65% for SILG.L.
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