COPX vs. BIL
COPX (Global X Copper Miners ETF) and BIL (SPDR Bloomberg 1-3 Month T-Bill ETF) are both exchange-traded funds - COPX is a Materials fund tracking the Solactive Global Copper Miners Total Return Index, while BIL is a Government Bonds fund tracking the Bloomberg 1-3 Month U.S. Treasury Bill Index. Both are passively managed. Over the past 10 years, COPX returned 21.86%/yr vs 2.20%/yr for BIL. At a 0.01 correlation, their price movements are largely independent. COPX charges 0.65%/yr vs 0.14%/yr for BIL.
Performance
COPX vs. BIL - Performance Comparison
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Returns By Period
In the year-to-date period, COPX achieves a 19.75% return, which is significantly higher than BIL's 1.60% return. Over the past 10 years, COPX has outperformed BIL with an annualized return of 21.86%, while BIL has yielded a comparatively lower 2.20% annualized return.
COPX
- 1D
- 3.38%
- 1M
- -6.46%
- YTD
- 19.75%
- 6M
- 29.13%
- 1Y
- 103.76%
- 3Y*
- 33.96%
- 5Y*
- 19.28%
- 10Y*
- 21.86%
BIL
- 1D
- 0.03%
- 1M
- 0.32%
- YTD
- 1.60%
- 6M
- 1.76%
- 1Y
- 3.89%
- 3Y*
- 4.63%
- 5Y*
- 3.43%
- 10Y*
- 2.20%
COPX vs. BIL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
COPX Global X Copper Miners ETF | 19.75% | 93.50% | 3.57% | 8.38% | -0.76% | 23.39% | 51.66% | 12.48% | -31.31% | 38.92% |
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 1.60% | 4.15% | 5.19% | 4.94% | 1.40% | -0.10% | 0.40% | 2.03% | 1.74% | 0.69% |
Correlation
The correlation between COPX and BIL is -0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.08 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.00 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2010 | 0.01 |
The correlation between COPX and BIL shifts across timeframes, from -0.08 (1 year) to 0.03 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
COPX vs. BIL — Risk / Return Rank
COPX
BIL
COPX vs. BIL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Copper Miners ETF (COPX) and SPDR Bloomberg 1-3 Month T-Bill ETF (BIL). 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 | BIL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.24 | ||
| Sortino ratioReturn per unit of downside risk | -172.46 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 88.41 | -87.05 |
| Calmar ratioReturn relative to maximum drawdown | 3.75 | 357.44 | -353.69 |
| Martin ratioReturn relative to average drawdown | 11.60 | 2,834.34 | -2,822.74 |
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Drawdowns
COPX vs. BIL - Drawdown Comparison
The maximum COPX drawdown since its inception was -83.16%, which is greater than BIL's maximum drawdown of -0.78%. Use the drawdown chart below to compare losses from any high point for COPX and BIL.
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Drawdown Indicators
| COPX | BIL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.16% | -0.78% | -82.38% |
Max Drawdown (1Y)Largest decline over 1 year | -27.82% | -0.01% | -27.81% |
Max Drawdown (3Y)Largest decline over 3 years | -39.72% | -0.01% | -39.71% |
Max Drawdown (5Y)Largest decline over 5 years | -42.12% | -0.09% | -42.03% |
Max Drawdown (10Y)Largest decline over 10 years | -65.41% | -0.21% | -65.20% |
Current DrawdownCurrent decline from peak | -10.17% | 0.00% | -10.17% |
Average DrawdownAverage peak-to-trough decline | -39.28% | -0.26% | -39.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.98% | 0.00% | +8.98% |
Volatility
COPX vs. BIL - Volatility Comparison
Global X Copper Miners ETF (COPX) has a higher volatility of 19.30% compared to SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) at 0.06%. This indicates that COPX's price experiences larger fluctuations and is considered to be riskier than BIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COPX | BIL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.30% | 0.06% | +19.24% |
Volatility (6M)Calculated over the trailing 6-month period | 38.15% | 0.14% | +38.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.66% | 0.20% | +43.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.00% | 0.26% | +36.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.75% | 0.26% | +35.49% |
COPX vs. BIL - Expense Ratio Comparison
COPX has a 0.65% expense ratio, which is higher than BIL's 0.14% expense ratio.
Dividends
COPX vs. BIL - Dividend Comparison
COPX's dividend yield for the trailing twelve months is around 2.24%, less than BIL's 3.86% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIL SPDR Bloomberg 1-3 Month T-Bill ETF | 3.86% | 4.13% | 5.03% | 4.92% | 1.35% | 0.00% | 0.30% | 2.05% | 1.66% | 0.68% | 0.07% | 0.00% |
COPX Global X Copper Miners ETF | 2.24% | 2.68% | 1.80% | 2.39% | 3.14% | 1.48% | 1.30% | 1.37% | 2.59% | 1.57% | 0.60% | 1.20% |
Frequently Asked Questions
COPX and BIL have a correlation of -0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COPX has higher volatility (19.30%) compared to BIL (0.06%). In terms of maximum drawdown, COPX dropped -83.16% vs BIL's -0.78%.
On 10-year performance, COPX leads with 21.86% vs 2.20% for BIL. On fees, BIL is cheaper at 0.14% per year. On volatility, BIL has been the lower-risk option at 0.06%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, COPX has performed better with a 21.86% return vs 2.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
BIL is cheaper with a 0.14% expense ratio, compared with 0.65% for COPX.
BIL has the higher dividend yield at 3.86%, compared with 2.24% for COPX.
COPX is categorized as Materials, while BIL is Government Bonds. COPX tracks Solactive Global Copper Miners Total Return Index, while BIL tracks Bloomberg 1-3 Month U.S. Treasury Bill Index. They also come from different issuers: Global X and State Street. Their fees differ too: 0.65% for COPX and 0.14% for BIL.
BIL currently has the higher Sharpe Ratio (19.63 vs 2.39), 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.
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