COPX vs. TGB

Last updated Jun 5, 2026

COPX (Global X Copper Miners ETF) is Materials fund tracking the Solactive Global Copper Miners Total Return Index, while TGB (Taseko Mines Limited) is a stock. Over the past 10 years, COPX returned 21.46%/yr vs 30.44%/yr for TGB. A 0.64 correlation means they provide meaningful diversification when combined.

Performance

COPX vs. TGB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Copper Miners ETF (COPX) and Taseko Mines Limited (TGB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COPX achieves a 25.67% return, which is significantly lower than TGB's 34.81% return. Over the past 10 years, COPX has underperformed TGB with an annualized return of 21.46%, while TGB has yielded a comparatively higher 30.44% annualized return.

COPX

• 1D: -0.03%
• 1M: 15.36%
• YTD: 25.67%
• 6M: 37.40%
• 1Y: 118.00%
• 3Y*: 37.98%
• 5Y*: 19.86%
• 10Y*: 21.46%

TGB

• 1D: -1.93%
• 1M: 11.55%
• YTD: 34.81%
• 6M: 42.62%
• 1Y: 208.91%
• 3Y*: 75.98%
• 5Y*: 25.61%
• 10Y*: 30.44%

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

COPX vs. TGB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COPX Global X Copper Miners ETF	25.67%	93.50%	3.57%	8.38%	-0.76%	23.39%	51.66%	12.48%	-31.31%	38.92%
TGB Taseko Mines Limited	34.81%	191.75%	38.57%	-4.76%	-28.29%	55.30%	175.00%	1.48%	-79.70%	173.38%

Correlation

The correlation between COPX and TGB is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.76
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Apr 21, 2010	0.64

The correlation between COPX and TGB shifts across timeframes, from 0.64 (all time) to 0.76 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

COPX vs. TGB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

COPX

COPX Risk / Return Rank: 77
COPX Sharpe Ratio Rank: 87
COPX Sortino Ratio Rank: 70
COPX Omega Ratio Rank: 70
COPX Calmar Ratio Rank: 82
COPX Martin Ratio Rank: 74

TGB

TGB Risk / Return Rank: 92
TGB Sharpe Ratio Rank: 95
TGB Sortino Ratio Rank: 91
TGB Omega Ratio Rank: 89
TGB Calmar Ratio Rank: 93
TGB Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

COPX vs. TGB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Copper Miners ETF (COPX) and Taseko Mines Limited (TGB). 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.

	COPX	TGB	Difference
Sharpe ratio: Return per unit of total volatility	2.87	3.23	-0.37
Sortino ratio: Return per unit of downside risk	3.12	3.32	-0.20
Omega ratio: Gain probability vs. loss probability	1.41	1.43	-0.01
Calmar ratio: Return relative to maximum drawdown	4.27	5.93	-1.66
Martin ratio: Return relative to average drawdown	13.66	16.28	-2.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COPX vs. TGB - Sharpe Ratio Comparison

The current COPX Sharpe Ratio is 2.87, which is comparable to the TGB Sharpe Ratio of 3.23. The chart below compares the historical Sharpe Ratios of COPX and TGB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	COPX	TGB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.87	3.23	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.41	+0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.47	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	-0.02	+0.21

Drawdowns

COPX vs. TGB - Drawdown Comparison

The maximum COPX drawdown since its inception was -83.16%, smaller than the maximum TGB drawdown of -98.58%. Use the drawdown chart below to compare losses from any high point for COPX and TGB.

Drawdown Indicators

	COPX	TGB	Difference
Max Drawdown Largest peak-to-trough decline	-83.16%	-98.58%	+15.42%
Max Drawdown (1Y) Largest decline over 1 year	-27.82%	-35.47%	+7.65%
Max Drawdown (3Y) Largest decline over 3 years	-39.72%	-44.26%	+4.54%
Max Drawdown (5Y) Largest decline over 5 years	-42.12%	-62.70%	+20.58%
Max Drawdown (10Y) Largest decline over 10 years	-65.41%	-90.76%	+25.35%
Current Drawdown Current decline from peak	-5.73%	-44.51%	+38.78%
Average Drawdown Average peak-to-trough decline	-39.29%	-81.38%	+42.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.67%	12.89%	-4.22%

Volatility

COPX vs. TGB - Volatility Comparison

The current volatility for Global X Copper Miners ETF (COPX) is 15.34%, while Taseko Mines Limited (TGB) has a volatility of 22.39%. This indicates that COPX experiences smaller price fluctuations and is considered to be less risky than TGB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPX	TGB	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.34%	22.39%	-7.05%
Volatility (6M) Calculated over the trailing 6-month period	35.68%	49.11%	-13.43%
Volatility (1Y) Calculated over the trailing 1-year period	41.41%	65.07%	-23.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.50%	62.52%	-26.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.54%	65.64%	-30.10%

Dividends

COPX vs. TGB - Dividend Comparison

COPX's dividend yield for the trailing twelve months is around 2.13%, while TGB has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COPX Global X Copper Miners ETF	2.13%	2.68%	1.80%	2.39%	3.14%	1.48%	1.30%	1.37%	2.59%	1.57%	0.60%	1.20%
TGB Taseko Mines Limited	0.00%	0.00%	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 TGB in my portfolio?

COPX and TGB have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COPX or TGB?

TGB has higher volatility (22.39%) compared to COPX (15.34%). In terms of maximum drawdown, COPX dropped -83.16% vs TGB's -98.58%.

Which has better risk-adjusted returns?

TGB currently has the higher Sharpe Ratio (3.23 vs 2.87), 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.