COPX vs. BITI
COPX (Global X Copper Miners ETF) and BITI (ProShares Short Bitcoin ETF) are both exchange-traded funds - COPX is a Copper fund tracking the Solactive Global Copper Miners Total Return Index, while BITI is a Cryptocurrency fund tracking the Bloomberg Bitcoin Index. Both are passively managed. Over the past 3 years, COPX returned 27.01%/yr vs -31.77%/yr for BITI. Their -0.31 correlation means they have often moved in opposite directions in the past. COPX charges 0.65%/yr vs 1.03%/yr for BITI.
Performance
COPX vs. BITI - Performance Comparison
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Returns By Period
In the year-to-date period, COPX achieves a 10.22% return, which is significantly lower than BITI's 27.11% return.
COPX
- 1D
- -0.81%
- 1M
- 2.88%
- 6M
- -6.70%
- YTD
- 10.22%
- 1Y
- 89.44%
- 3Y*
- 27.01%
- 5Y*
- 18.54%
- 10Y*
- 18.83%
- ALL TIME*
- 5.76%
BITI
- 1D
- 3.01%
- 1M
- -2.58%
- 6M
- 22.77%
- YTD
- 27.11%
- 1Y
- 58.64%
- 3Y*
- -31.77%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- -35.65%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $24.10M | $26.49M | $38.71M | |
| $193.89M | $197.23M | $300.83M |
COPX vs. BITI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
COPX Global X Copper Miners ETF | 10.22% | 93.50% | 3.57% | 8.38% | 6.08% |
BITI ProShares Short Bitcoin ETF | 27.11% | -1.76% | -62.60% | -66.17% | 3.39% |
Correlation
The correlation between COPX and BITI is -0.39, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.39 |
Correlation (3Y) Balances recent behavior with more history. | -0.27 |
Correlation (All Time) Calculated using the full available price history since Jun 21, 2022 | -0.31 |
The correlation between COPX and BITI shifts across timeframes, from -0.39 (1 year) to -0.27 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
COPX vs. BITI — Risk / Return Rank
COPX
BITI
COPX vs. BITI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Copper Miners ETF (COPX) and ProShares Short Bitcoin ETF (BITI). 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 | BITI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.49 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.24 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 3.18 | 2.53 | +0.65 |
| Martin ratioReturn relative to average drawdown | 7.96 | 6.17 | +1.79 |
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Drawdowns
COPX vs. BITI - Drawdown Comparison
The maximum COPX drawdown since its inception was -83.16%, smaller than the maximum BITI drawdown of -92.16%. Use the drawdown chart below to compare losses from any high point for COPX and BITI.
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Drawdown Indicators
| COPX | BITI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.16% | -92.16% | +9.00% |
Max Drawdown (1Y)Largest decline over 1 year | -27.82% | -25.28% | -2.54% |
Max Drawdown (3Y)Largest decline over 3 years | -39.72% | -84.63% | +44.91% |
Max Drawdown (5Y)Largest decline over 5 years | -42.12% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -65.41% | — | — |
Current DrawdownCurrent decline from peak | -17.32% | -86.12% | +68.80% |
Average DrawdownAverage peak-to-trough decline | -39.11% | -68.59% | +29.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.11% | 10.35% | +0.76% |
Volatility
COPX vs. BITI - Volatility Comparison
Global X Copper Miners ETF (COPX) has a higher volatility of 13.58% compared to ProShares Short Bitcoin ETF (BITI) at 9.13%. This indicates that COPX's price experiences larger fluctuations and is considered to be riskier than BITI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COPX | BITI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.58% | 9.13% | +4.45% |
Volatility (6M)Calculated over the trailing 6-month period | 39.74% | 33.31% | +6.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.77% | 44.23% | +1.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.28% | 52.03% | -14.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.87% | 52.03% | -16.16% |
COPX vs. BITI - Expense Ratio Comparison
COPX has a 0.65% expense ratio, which is lower than BITI's 1.03% expense ratio.
Dividends
COPX vs. BITI - Dividend Comparison
COPX's dividend yield for the trailing twelve months is around 2.45%, less than BITI's 15.30% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BITI ProShares Short Bitcoin ETF | 15.17% | 1.60% | 3.91% | 3.33% | 0.06% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
COPX Global X Copper Miners ETF | 2.45% | 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 BITI have a correlation of -0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COPX has higher volatility (13.58%) compared to BITI (9.13%). In terms of maximum drawdown, COPX dropped -83.16% vs BITI's -92.16%.
On 3-year performance, COPX leads with 27.01% vs -31.77% for BITI. On fees, COPX is cheaper at 0.65% per year. On volatility, BITI has been the lower-risk option at 9.13%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, COPX has performed better with a 27.01% return vs -31.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COPX is cheaper with a 0.65% expense ratio, compared with 1.03% for BITI.
BITI has the higher dividend yield at 15.17%, compared with 2.45% for COPX.
COPX is categorized as Copper, while BITI is Cryptocurrency. COPX tracks Solactive Global Copper Miners Total Return Index, while BITI tracks Bloomberg Bitcoin Index. They also come from different issuers: Global X and ProShares. Their fees differ too: 0.65% for COPX and 1.03% for BITI.
COPX currently has the higher Sharpe Ratio (1.94 vs 1.45), 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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