COPX vs. GDX
Compare and contrast key facts about Global X Copper Miners ETF (COPX) and VanEck Vectors Gold Miners ETF (GDX).
COPX and GDX are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. COPX is a passively managed fund by Global X that tracks the performance of the Solactive Global Copper Miners Index. It was launched on Apr 19, 2010. GDX is a passively managed fund by VanEck that tracks the performance of the NYSE Arca Gold Miners Index. It was launched on May 22, 2006. Both COPX and GDX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: COPX or GDX.
Key characteristics
| COPX | GDX | |
|---|---|---|
| YTD Return | 9.37% | 14.67% |
| 1Y Return | 23.41% | 27.58% |
| 3Y Return (Ann) | 5.14% | 2.47% |
| 5Y Return (Ann) | 19.72% | 7.23% |
| 10Y Return (Ann) | 7.04% | 7.48% |
| Sharpe Ratio | 0.84 | 1.05 |
| Sortino Ratio | 1.33 | 1.56 |
| Omega Ratio | 1.16 | 1.19 |
| Calmar Ratio | 0.99 | 0.60 |
| Martin Ratio | 2.41 | 4.42 |
| Ulcer Index | 11.77% | 7.62% |
| Daily Std Dev | 33.62% | 32.21% |
| Max Drawdown | -83.16% | -80.57% |
| Current Drawdown | -22.21% | -40.04% |
Correlation
The correlation between COPX and GDX is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Performance
COPX vs. GDX - Performance Comparison
In the year-to-date period, COPX achieves a 9.37% return, which is significantly lower than GDX's 14.67% return. Over the past 10 years, COPX has underperformed GDX with an annualized return of 7.04%, while GDX has yielded a comparatively higher 7.48% annualized return. The chart below displays the growth of a $10,000 investment in both assets, with all prices adjusted for splits and dividends.
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COPX vs. GDX - Expense Ratio Comparison
COPX has a 0.65% expense ratio, which is higher than GDX's 0.53% expense ratio.
Risk-Adjusted Performance
COPX vs. GDX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Copper Miners ETF (COPX) and VanEck Vectors Gold Miners ETF (GDX). 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.
Dividends
COPX vs. GDX - Dividend Comparison
COPX's dividend yield for the trailing twelve months is around 1.35%, less than GDX's 1.41% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COPX Global X Copper Miners ETF | 1.35% | 2.39% | 3.14% | 1.48% | 1.30% | 1.37% | 2.58% | 1.56% | 0.59% | 1.20% | 2.31% | 0.70% |
GDX VanEck Vectors Gold Miners ETF | 1.41% | 1.61% | 1.66% | 1.67% | 0.53% | 0.65% | 0.50% | 0.76% | 0.26% | 0.85% | 0.66% | 0.90% |
Drawdowns
COPX vs. GDX - Drawdown Comparison
The maximum COPX drawdown since its inception was -83.16%, roughly equal to the maximum GDX drawdown of -80.57%. Use the drawdown chart below to compare losses from any high point for COPX and GDX. For additional features, visit the drawdowns tool.
Volatility
COPX vs. GDX - Volatility Comparison
Global X Copper Miners ETF (COPX) has a higher volatility of 11.27% compared to VanEck Vectors Gold Miners ETF (GDX) at 10.39%. This indicates that COPX's price experiences larger fluctuations and is considered to be riskier than GDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.