COPX vs. USOY
COPX (Global X Copper Miners ETF) and USOY (Defiance Oil Enhanced Options Income ETF) are both exchange-traded funds - COPX is a Materials fund tracking the Solactive Global Copper Miners Total Return Index, while USOY is a Derivative Income fund actively managed by Defiance. COPX is passively managed, while USOY is actively managed. Over the past year, COPX returned 118.00% vs 54.64% for USOY. At a 0.04 correlation, their price movements are largely independent. COPX charges 0.65%/yr vs 1.22%/yr for USOY.
Performance
COPX vs. USOY - Performance Comparison
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Returns By Period
In the year-to-date period, COPX achieves a 25.67% return, which is significantly lower than USOY's 59.27% 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%
USOY
- 1D
- -1.79%
- 1M
- -3.80%
- YTD
- 59.27%
- 6M
- 55.41%
- 1Y
- 54.64%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
COPX vs. USOY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
COPX Global X Copper Miners ETF | 25.67% | 93.50% | -19.05% |
USOY Defiance Oil Enhanced Options Income ETF | 59.27% | -7.93% | 7.27% |
Correlation
The correlation between COPX and USOY is -0.20, 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 | -0.20 |
Correlation (All Time) Calculated using the full available price history since May 13, 2024 | 0.04 |
The correlation between COPX and USOY shifts across timeframes, from -0.20 (1 year) to 0.04 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
COPX vs. USOY — Risk / Return Rank
COPX
USOY
COPX vs. USOY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Copper Miners ETF (COPX) and Defiance Oil Enhanced Options Income ETF (USOY). 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 | USOY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.33 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 4.27 | 3.84 | +0.42 |
| Martin ratioReturn relative to average drawdown | 13.66 | 7.37 | +6.29 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| COPX | USOY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.87 | 1.80 | +1.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.55 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.61 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.19 | 0.95 | -0.76 |
Drawdowns
COPX vs. USOY - Drawdown Comparison
The maximum COPX drawdown since its inception was -83.16%, which is greater than USOY's maximum drawdown of -17.46%. Use the drawdown chart below to compare losses from any high point for COPX and USOY.
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Drawdown Indicators
| COPX | USOY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.16% | -17.46% | -65.70% |
Max Drawdown (1Y)Largest decline over 1 year | -27.82% | -14.29% | -13.53% |
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 DrawdownCurrent decline from peak | -5.73% | -6.81% | +1.08% |
Average DrawdownAverage peak-to-trough decline | -39.29% | -6.47% | -32.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.67% | 7.43% | +1.24% |
Volatility
COPX vs. USOY - Volatility Comparison
Global X Copper Miners ETF (COPX) has a higher volatility of 15.34% compared to Defiance Oil Enhanced Options Income ETF (USOY) at 11.67%. This indicates that COPX's price experiences larger fluctuations and is considered to be riskier than USOY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COPX | USOY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.34% | 11.67% | +3.67% |
Volatility (6M)Calculated over the trailing 6-month period | 35.68% | 27.26% | +8.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 41.41% | 30.50% | +10.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.50% | 26.14% | +10.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.54% | 26.14% | +9.40% |
COPX vs. USOY - Expense Ratio Comparison
COPX has a 0.65% expense ratio, which is lower than USOY's 1.22% expense ratio.
Dividends
COPX vs. USOY - Dividend Comparison
COPX's dividend yield for the trailing twelve months is around 2.13%, less than USOY's 56.65% yield.
| 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% |
USOY Defiance Oil Enhanced Options Income ETF | 56.65% | 104.32% | 48.60% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
COPX and USOY have a correlation of -0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COPX has higher volatility (15.34%) compared to USOY (11.67%). In terms of maximum drawdown, COPX dropped -83.16% vs USOY's -17.46%.
On 1-year performance, COPX leads with 118.00% vs 54.64% for USOY. On fees, COPX is cheaper at 0.65% per year. On volatility, USOY has been the lower-risk option at 11.67%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, COPX has performed better with a 118.00% return vs 54.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COPX is cheaper with a 0.65% expense ratio, compared with 1.22% for USOY.
USOY has the higher dividend yield at 56.65%, compared with 2.13% for COPX.
COPX is categorized as Materials, while USOY is Derivative Income. They also come from different issuers: Global X and Defiance. Their fees differ too: 0.65% for COPX and 1.22% for USOY.
COPX currently has the higher Sharpe Ratio (2.87 vs 1.80), 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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