COPX vs. EMNE.DE
COPX (Global X Copper Miners ETF) and EMNE.DE (iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist)) are both exchange-traded funds - COPX is a Copper fund tracking the Solactive Global Copper Miners Total Return Index, while EMNE.DE is a Europe Equities fund tracking the MSCI EMU ESG Enhanced Focus CTB Index. Both are passively managed. Over the past 5 years, COPX returned 18.50%/yr vs 9.70%/yr for EMNE.DE. At a 0.47 correlation, their price movements are largely independent. COPX charges 0.65%/yr vs 0.12%/yr for EMNE.DE.
Performance
COPX vs. EMNE.DE - Performance Comparison
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Different Trading Currencies
COPX is traded in USD, while EMNE.DE is traded in EUR. To make them comparable, the EMNE.DE values have been converted to USD using the latest available exchange rates.
Returns By Period
In the year-to-date period, COPX achieves a 3.23% return, which is significantly lower than EMNE.DE's 6.79% return.
COPX
- 1D
- 0.70%
- 1M
- -13.30%
- 6M
- -8.24%
- YTD
- 3.23%
- 1Y
- 72.90%
- 3Y*
- 26.21%
- 5Y*
- 18.50%
- 10Y*
- 18.38%
- ALL TIME*
- 5.35%
EMNE.DE
- 1D
- 0.01%
- 1M
- -2.58%
- 6M
- 6.05%
- YTD
- 6.79%
- 1Y
- 16.65%
- 3Y*
- 15.83%
- 5Y*
- 9.70%
- 10Y*
- —
- ALL TIME*
- 11.68%
COPX vs. EMNE.DE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
COPX Global X Copper Miners ETF | 3.23% | 93.50% | 3.57% | 8.38% | -0.76% | 23.39% | 51.66% | -2.99% |
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 6.79% | 37.93% | 3.58% | 22.55% | -17.18% | 13.07% | 11.36% | 15.75% |
Correlation
The correlation between COPX and EMNE.DE is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.50 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.53 |
Correlation (All Time) Calculated using the full available price history since Mar 8, 2019 | 0.47 |
The correlation between COPX and EMNE.DE has been stable across timeframes, ranging from 0.47 to 0.54 - a consistent structural relationship.
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Return for Risk
COPX vs. EMNE.DE — Risk / Return Rank
COPX
EMNE.DE
COPX vs. EMNE.DE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Copper Miners ETF (COPX) and iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.DE). 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 | EMNE.DE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.63 | ||
| Sortino ratioReturn per unit of downside risk | +0.54 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.18 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 1.28 | +1.35 |
| Martin ratioReturn relative to average drawdown | 6.88 | 4.56 | +2.33 |
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Drawdowns
COPX vs. EMNE.DE - Drawdown Comparison
The maximum COPX drawdown since its inception was -83.16%, which is greater than EMNE.DE's maximum drawdown of -36.45%. Use the drawdown chart below to compare losses from any high point for COPX and EMNE.DE.
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Drawdown Indicators
| COPX | EMNE.DE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.16% | -36.45% | -46.71% |
Max Drawdown (1Y)Largest decline over 1 year | -27.82% | -12.93% | -14.89% |
Max Drawdown (3Y)Largest decline over 3 years | -39.72% | -14.50% | -25.22% |
Max Drawdown (5Y)Largest decline over 5 years | -42.12% | -36.45% | -5.67% |
Max Drawdown (10Y)Largest decline over 10 years | -65.41% | — | — |
Current DrawdownCurrent decline from peak | -22.56% | -2.94% | -19.62% |
Average DrawdownAverage peak-to-trough decline | -39.16% | -6.93% | -32.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.63% | 3.65% | +6.98% |
Volatility
COPX vs. EMNE.DE - Volatility Comparison
Global X Copper Miners ETF (COPX) has a higher volatility of 13.65% compared to iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) (EMNE.DE) at 4.40%. This indicates that COPX's price experiences larger fluctuations and is considered to be riskier than EMNE.DE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COPX | EMNE.DE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.65% | 4.40% | +9.25% |
Volatility (6M)Calculated over the trailing 6-month period | 39.63% | 14.48% | +25.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.47% | 16.84% | +28.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.21% | 19.65% | +17.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.81% | 22.46% | +13.35% |
COPX vs. EMNE.DE - Expense Ratio Comparison
COPX has a 0.65% expense ratio, which is higher than EMNE.DE's 0.12% expense ratio.
Dividends
COPX vs. EMNE.DE - Dividend Comparison
COPX's dividend yield for the trailing twelve months is around 2.61%, more than EMNE.DE's 2.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COPX Global X Copper Miners ETF | 2.61% | 2.68% | 1.80% | 2.39% | 3.14% | 1.48% | 1.30% | 1.37% | 2.59% | 1.57% | 0.60% | 1.20% |
EMNE.DE iShares MSCI EMU CTB Enhanced ESG UCITS ETF EUR (Dist) | 2.39% | 2.61% | 2.95% | 3.17% | 3.34% | 2.40% | 1.85% | 2.67% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
COPX and EMNE.DE have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, EMNE.DE is cheaper at 0.12% per year. The better choice depends on whether you care most about return, fees, risk, or income.
EMNE.DE is cheaper with a 0.12% expense ratio, compared with 0.65% for COPX.
COPX is categorized as Copper, while EMNE.DE is Europe Equities. COPX tracks Solactive Global Copper Miners Total Return Index, while EMNE.DE tracks MSCI EMU ESG Enhanced Focus CTB Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.65% for COPX and 0.12% for EMNE.DE.
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