COPX vs. METL

Last updated Aug 2, 2026

COPX (Global X Copper Miners ETF) and METL (Sprott Active Metals & Miners ETF) are both exchange-traded funds - COPX is a Copper fund tracking the Solactive Global Copper Miners Total Return Index, while METL is a Natural Resources fund actively managed by Sprott. COPX is passively managed, while METL is actively managed. Their correlation of 0.85 means they have usually moved in the same direction. COPX charges 0.65%/yr vs 0.89%/yr for METL.

Performance

COPX vs. METL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Copper Miners ETF (COPX) and Sprott Active Metals & Miners ETF (METL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COPX achieves a 10.22% return, which is significantly higher than METL's -4.20% 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%

METL

• 1D: -1.47%
• 1M: -5.60%
• 6M: -18.65%
• YTD: -4.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
COPX Global X Copper Miners ETF	$193.89M	$197.23M	$300.83M
METL Sprott Active Metals & Miners ETF	$253.61K	$342.11K	$593.78K

COPX vs. METL - Yearly Performance Comparison

	2026 (YTD)	2025
COPX Global X Copper Miners ETF	10.22%	42.86%
METL Sprott Active Metals & Miners ETF	-4.20%	28.19%

Correlation

The correlation between COPX and METL is 0.85, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 10, 2025	0.85

Return for Risk

COPX vs. METL — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

COPX

COPX Risk / Return Rank: 76
COPX Sharpe Ratio Rank: 84
COPX Sortino Ratio Rank: 73
COPX Omega Ratio Rank: 73
COPX Calmar Ratio Rank: 84
COPX Martin Ratio Rank: 66

METL

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

COPX vs. METL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Copper Miners ETF (COPX) and Sprott Active Metals & Miners ETF (METL). 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	METL	Difference
Sharpe ratio: Return per unit of total volatility	1.94	—	—
Sortino ratio: Return per unit of downside risk	2.33	—	—
Omega ratio: Gain probability vs. loss probability	1.30	—	—
Calmar ratio: Return relative to maximum drawdown	3.18	—	—
Martin ratio: Return relative to average drawdown	7.96	—	—

Drawdowns

COPX vs. METL - Drawdown Comparison

The maximum COPX drawdown since its inception was -83.16%, which is greater than METL's maximum drawdown of -28.80%. Use the drawdown chart below to compare losses from any high point for COPX and METL.

Drawdown Indicators

	COPX	METL	Difference
Max Drawdown Largest peak-to-trough decline	-83.16%	-28.80%	-54.36%
Max Drawdown (1Y) Largest decline over 1 year	-27.82%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-39.72%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-42.12%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-65.41%	—	—
Current Drawdown Current decline from peak	-17.32%	-27.36%	+10.04%
Average Drawdown Average peak-to-trough decline	-39.11%	-10.66%	-28.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.11%	—	—

Volatility

Volatility by Period

	COPX	METL	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.58%	—	—
Volatility (6M) Calculated over the trailing 6-month period	39.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	45.77%	43.84%	+1.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.28%	43.84%	-6.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.87%	43.84%	-7.97%

COPX vs. METL - Expense Ratio Comparison

COPX has a 0.65% expense ratio, which is lower than METL's 0.89% expense ratio.

Dividends

COPX vs. METL - Dividend Comparison

COPX's dividend yield for the trailing twelve months is around 2.45%, more than METL's 1.04% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
METL Sprott Active Metals & Miners ETF	1.04%	0.99%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both COPX and METL in my portfolio?

COPX and METL have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, COPX or METL?

On fees, COPX is cheaper at 0.65% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, COPX or METL?

COPX is cheaper with a 0.65% expense ratio, compared with 0.89% for METL.

Which ETF pays a higher dividend yield, COPX or METL?

COPX has the higher dividend yield at 2.45%, compared with 1.04% for METL.

What is the main difference between COPX and METL?

COPX is categorized as Copper, while METL is Natural Resources. They also come from different issuers: Global X and Sprott. Their fees differ too: 0.65% for COPX and 0.89% for METL.