COPX vs. SLX
Compare and contrast key facts about Global X Copper Miners ETF (COPX) and VanEck Vectors Steel ETF (SLX).
COPX and SLX 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. SLX is a passively managed fund by VanEck that tracks the performance of the NYSE Arca Steel Index. It was launched on Oct 16, 2006. Both COPX and SLX 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 SLX.
Key characteristics
| COPX | SLX | |
|---|---|---|
| YTD Return | 22.16% | -7.26% |
| 1Y Return | 36.95% | 5.58% |
| 3Y Return (Ann) | 10.78% | 12.82% |
| 5Y Return (Ann) | 21.47% | 17.71% |
| 10Y Return (Ann) | 8.48% | 9.06% |
| Sharpe Ratio | 1.11 | 0.36 |
| Sortino Ratio | 1.64 | 0.63 |
| Omega Ratio | 1.20 | 1.08 |
| Calmar Ratio | 1.12 | 0.41 |
| Martin Ratio | 3.13 | 0.90 |
| Ulcer Index | 11.46% | 8.05% |
| Daily Std Dev | 32.38% | 19.99% |
| Max Drawdown | -83.16% | -82.15% |
| Current Drawdown | -13.11% | -8.62% |
Correlation
The correlation between COPX and SLX is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Performance
COPX vs. SLX - Performance Comparison
In the year-to-date period, COPX achieves a 22.16% return, which is significantly higher than SLX's -7.26% return. Over the past 10 years, COPX has underperformed SLX with an annualized return of 8.48%, while SLX has yielded a comparatively higher 9.06% 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. SLX - Expense Ratio Comparison
COPX has a 0.65% expense ratio, which is higher than SLX's 0.56% expense ratio.
Risk-Adjusted Performance
COPX vs. SLX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Copper Miners ETF (COPX) and VanEck Vectors Steel ETF (SLX). 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. SLX - Dividend Comparison
COPX's dividend yield for the trailing twelve months is around 1.20%, less than SLX's 3.02% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COPX Global X Copper Miners ETF | 1.20% | 2.39% | 3.14% | 1.48% | 1.30% | 1.37% | 2.58% | 1.56% | 0.59% | 1.20% | 2.31% | 0.70% |
SLX VanEck Vectors Steel ETF | 3.02% | 2.80% | 4.97% | 7.07% | 1.87% | 2.76% | 6.25% | 2.43% | 1.06% | 5.34% | 3.26% | 1.97% |
Drawdowns
COPX vs. SLX - Drawdown Comparison
The maximum COPX drawdown since its inception was -83.16%, roughly equal to the maximum SLX drawdown of -82.15%. Use the drawdown chart below to compare losses from any high point for COPX and SLX. For additional features, visit the drawdowns tool.
Volatility
COPX vs. SLX - Volatility Comparison
Global X Copper Miners ETF (COPX) has a higher volatility of 7.90% compared to VanEck Vectors Steel ETF (SLX) at 5.48%. This indicates that COPX's price experiences larger fluctuations and is considered to be riskier than SLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.