COPX vs. SGOV
COPX (Global X Copper Miners ETF) and SGOV (iShares 0-3 Month Treasury Bond ETF) are both exchange-traded funds - COPX is a Materials fund tracking the Solactive Global Copper Miners Total Return Index, while SGOV is a Ultrashort Bond fund tracking the ICE 0-3 Month US Treasury Securities Index. Both are passively managed. Over the past 5 years, COPX returned 19.28%/yr vs 3.56%/yr for SGOV. At a correlation of -0.03, they often move in opposite directions. COPX charges 0.65%/yr vs 0.09%/yr for SGOV.
Performance
COPX vs. SGOV - Performance Comparison
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Returns By Period
In the year-to-date period, COPX achieves a 19.75% return, which is significantly higher than SGOV's 1.61% return.
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%
SGOV
- 1D
- 0.02%
- 1M
- 0.30%
- YTD
- 1.61%
- 6M
- 1.78%
- 1Y
- 3.95%
- 3Y*
- 4.71%
- 5Y*
- 3.56%
- 10Y*
- —
COPX vs. SGOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
COPX Global X Copper Miners ETF | 19.75% | 93.50% | 3.57% | 8.38% | -0.76% | 23.39% | 99.07% |
SGOV iShares 0-3 Month Treasury Bond ETF | 1.61% | 4.24% | 5.27% | 5.12% | 1.58% | 0.04% | 0.04% |
Correlation
The correlation between COPX and SGOV is -0.12, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.02 |
Correlation (All Time) Calculated using the full available price history since May 28, 2020 | -0.03 |
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Return for Risk
COPX vs. SGOV — Risk / Return Rank
COPX
SGOV
COPX vs. SGOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Copper Miners ETF (COPX) and iShares 0-3 Month Treasury Bond ETF (SGOV). 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 | SGOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.89 | ||
| Sortino ratioReturn per unit of downside risk | -272.98 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 195.55 | -194.19 |
| Calmar ratioReturn relative to maximum drawdown | 3.75 | 398.20 | -394.45 |
| Martin ratioReturn relative to average drawdown | 11.60 | 4,461.98 | -4,450.38 |
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Drawdowns
COPX vs. SGOV - Drawdown Comparison
The maximum COPX drawdown since its inception was -83.16%, which is greater than SGOV's maximum drawdown of -0.03%. Use the drawdown chart below to compare losses from any high point for COPX and SGOV.
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Drawdown Indicators
| COPX | SGOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.16% | -0.03% | -83.13% |
Max Drawdown (1Y)Largest decline over 1 year | -27.82% | -0.01% | -27.81% |
Max Drawdown (3Y)Largest decline over 3 years | -39.72% | -0.01% | -39.71% |
Max Drawdown (5Y)Largest decline over 5 years | -42.12% | -0.03% | -42.09% |
Max Drawdown (10Y)Largest decline over 10 years | -65.41% | — | — |
Current DrawdownCurrent decline from peak | -10.17% | 0.00% | -10.17% |
Average DrawdownAverage peak-to-trough decline | -39.28% | -0.00% | -39.28% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.98% | 0.00% | +8.98% |
Volatility
COPX vs. SGOV - Volatility Comparison
Global X Copper Miners ETF (COPX) has a higher volatility of 19.30% compared to iShares 0-3 Month Treasury Bond ETF (SGOV) at 0.05%. This indicates that COPX's price experiences larger fluctuations and is considered to be riskier than SGOV based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COPX | SGOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.30% | 0.05% | +19.25% |
Volatility (6M)Calculated over the trailing 6-month period | 38.15% | 0.13% | +38.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 43.66% | 0.20% | +43.46% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.00% | 0.24% | +36.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.75% | 0.24% | +35.51% |
COPX vs. SGOV - Expense Ratio Comparison
COPX has a 0.65% expense ratio, which is higher than SGOV's 0.09% expense ratio.
Dividends
COPX vs. SGOV - Dividend Comparison
COPX's dividend yield for the trailing twelve months is around 2.24%, less than SGOV's 3.85% 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% |
SGOV iShares 0-3 Month Treasury Bond ETF | 3.85% | 4.10% | 5.10% | 4.87% | 1.45% | 0.03% | 0.05% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
COPX and SGOV have a correlation of -0.12, 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 SGOV (0.05%). In terms of maximum drawdown, COPX dropped -83.16% vs SGOV's -0.03%.
On 5-year performance, COPX leads with 19.28% vs 3.56% for SGOV. On fees, SGOV is cheaper at 0.09% per year. On volatility, SGOV has been the lower-risk option at 0.05%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, COPX has performed better with a 19.28% return vs 3.56%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
SGOV is cheaper with a 0.09% expense ratio, compared with 0.65% for COPX.
SGOV has the higher dividend yield at 3.85%, compared with 2.24% for COPX.
COPX is categorized as Materials, while SGOV is Ultrashort Bond. COPX tracks Solactive Global Copper Miners Total Return Index, while SGOV tracks ICE 0-3 Month US Treasury Securities Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.65% for COPX and 0.09% for SGOV.
SGOV currently has the higher Sharpe Ratio (20.28 vs 2.39), 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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