COPX vs. FCX
COPX (Global X Copper Miners ETF) is Materials fund tracking the Solactive Global Copper Miners Total Return Index, while FCX (Freeport-McMoRan Inc.) is a stock. Over the past 10 years, COPX returned 21.86%/yr vs 22.12%/yr for FCX. Their correlation of 0.80 suggests significant overlap in exposure.
Performance
COPX vs. FCX - Performance Comparison
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Returns By Period
In the year-to-date period, COPX achieves a 19.75% return, which is significantly lower than FCX's 35.32% return. Both investments have delivered pretty close results over the past 10 years, with COPX having a 21.86% annualized return and FCX not far ahead at 22.12%.
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%
FCX
- 1D
- 3.12%
- 1M
- 1.86%
- YTD
- 35.32%
- 6M
- 45.06%
- 1Y
- 68.06%
- 3Y*
- 21.38%
- 5Y*
- 12.26%
- 10Y*
- 22.12%
COPX vs. FCX - 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% |
FCX Freeport-McMoRan Inc. | 35.32% | 35.41% | -9.41% | 13.69% | -7.91% | 61.41% | 99.06% | 29.59% | -45.11% | 43.75% |
Correlation
The correlation between COPX and FCX is 0.83, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.83 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.86 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since Apr 20, 2010 | 0.80 |
The correlation between COPX and FCX has been stable across timeframes, ranging from 0.80 to 0.86 - a consistent structural relationship.
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Return for Risk
COPX vs. FCX — Risk / Return Rank
COPX
FCX
COPX vs. FCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Copper Miners ETF (COPX) and Freeport-McMoRan Inc. (FCX). 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 | FCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +0.92 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.25 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 3.75 | 2.75 | +1.00 |
| Martin ratioReturn relative to average drawdown | 11.60 | 6.85 | +4.75 |
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Drawdowns
COPX vs. FCX - Drawdown Comparison
The maximum COPX drawdown since its inception was -83.16%, smaller than the maximum FCX drawdown of -92.52%. Use the drawdown chart below to compare losses from any high point for COPX and FCX.
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Drawdown Indicators
| COPX | FCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.16% | -92.52% | +9.36% |
Max Drawdown (1Y)Largest decline over 1 year | -27.82% | -24.90% | -2.92% |
Max Drawdown (3Y)Largest decline over 3 years | -39.72% | -46.34% | +6.62% |
Max Drawdown (5Y)Largest decline over 5 years | -42.12% | -51.47% | +9.35% |
Max Drawdown (10Y)Largest decline over 10 years | -65.41% | -72.59% | +7.18% |
Current DrawdownCurrent decline from peak | -10.17% | -4.62% | -5.55% |
Average DrawdownAverage peak-to-trough decline | -39.28% | -39.62% | +0.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.98% | 9.97% | -0.99% |
Volatility
COPX vs. FCX - Volatility Comparison
Global X Copper Miners ETF (COPX) has a higher volatility of 19.30% compared to Freeport-McMoRan Inc. (FCX) at 17.98%. This indicates that COPX's price experiences larger fluctuations and is considered to be riskier than FCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COPX | FCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.30% | 17.98% | +1.32% |
Volatility (6M)Calculated over the trailing 6-month period | 38.15% | 37.53% | +0.62% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.66% | 48.88% | -5.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.00% | 45.14% | -8.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.75% | 48.65% | -12.90% |
Dividends
COPX vs. FCX - Dividend Comparison
COPX's dividend yield for the trailing twelve months is around 2.24%, more than FCX's 0.88% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
FCX Freeport-McMoRan Inc. | 0.88% | 1.18% | 1.58% | 1.41% | 0.99% | 0.54% | 0.19% | 1.52% | 1.45% | 0.00% | 0.00% | 8.46% |
Frequently Asked Questions
COPX and FCX have a correlation of 0.83, 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 FCX (17.98%). In terms of maximum drawdown, COPX dropped -83.16% vs FCX's -92.52%.
COPX currently has the higher Sharpe Ratio (2.39 vs 1.40), 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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