COPX vs. XWEV.L

Last updated Jul 21, 2026

COPX (Global X Copper Miners ETF) and XWEV.L (Xtrackers MSCI World Value ESG UCITS ETF 1C) are both exchange-traded funds - COPX is a Copper fund tracking the Solactive Global Copper Miners Total Return Index, while XWEV.L is a Global Equities fund tracking the MSCI World Value Low Carbon SRI Screened Select. Both are passively managed. Over the past 3 years, COPX returned 26.21%/yr vs 21.57%/yr for XWEV.L. At a 0.49 correlation, their price movements are largely independent. COPX charges 0.65%/yr vs 0.25%/yr for XWEV.L.

Performance

COPX vs. XWEV.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Copper Miners ETF (COPX) and Xtrackers MSCI World Value ESG UCITS ETF 1C (XWEV.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COPX achieves a 3.23% return, which is significantly lower than XWEV.L's 15.20% return.

COPX

• 1D: 0.70%
• 1M: -13.30%
• 6M: -8.24%
• YTD: 3.23%
• 1Y: 72.90%
• 3Y*: 26.21%
• 5Y*: 18.50%
• 10Y*: 18.38%
• ALL TIME*: 5.35%

XWEV.L

• 1D: 0.00%
• 1M: -2.02%
• 6M: 13.83%
• YTD: 15.20%
• 1Y: 38.07%
• 3Y*: 21.57%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 22.24%

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

COPX vs. XWEV.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
COPX Global X Copper Miners ETF	3.23%	93.50%	3.57%	-0.86%
XWEV.L Xtrackers MSCI World Value ESG UCITS ETF 1C	15.20%	38.58%	6.98%	7.84%

Correlation

The correlation between COPX and XWEV.L is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jul 5, 2023	0.49

The correlation between COPX and XWEV.L has been stable across timeframes, ranging from 0.48 to 0.51 - a consistent structural relationship.

Return for Risk

COPX vs. XWEV.L — Risk / Return Rank

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

COPX

COPX Risk / Return Rank: 61
COPX Sharpe Ratio Rank: 66
COPX Sortino Ratio Rank: 56
COPX Omega Ratio Rank: 56
COPX Calmar Ratio Rank: 71
COPX Martin Ratio Rank: 54

XWEV.L

XWEV.L Risk / Return Rank: 90
XWEV.L Sharpe Ratio Rank: 92
XWEV.L Sortino Ratio Rank: 92
XWEV.L Omega Ratio Rank: 90
XWEV.L Calmar Ratio Rank: 87
XWEV.L Martin Ratio Rank: 88

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. XWEV.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Copper Miners ETF (COPX) and Xtrackers MSCI World Value ESG UCITS ETF 1C (XWEV.L). 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	XWEV.L	Difference
Sharpe ratio: Return per unit of total volatility	1.61	2.46	-0.85
Sortino ratio: Return per unit of downside risk	2.05	3.52	-1.47
Omega ratio: Gain probability vs. loss probability	1.26	1.44	-0.18
Calmar ratio: Return relative to maximum drawdown	2.63	3.65	-1.02
Martin ratio: Return relative to average drawdown	6.88	13.70	-6.82

COPX vs. XWEV.L - Sharpe Ratio Comparison

The current COPX Sharpe Ratio is 1.61, which is lower than the XWEV.L Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of COPX and XWEV.L, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

COPX vs. XWEV.L - Drawdown Comparison

The maximum COPX drawdown since its inception was -83.16%, which is greater than XWEV.L's maximum drawdown of -14.23%. Use the drawdown chart below to compare losses from any high point for COPX and XWEV.L.

Drawdown Indicators

	COPX	XWEV.L	Difference
Max Drawdown Largest peak-to-trough decline	-83.16%	-14.23%	-68.93%
Max Drawdown (1Y) Largest decline over 1 year	-27.82%	-10.37%	-17.45%
Max Drawdown (3Y) Largest decline over 3 years	-39.72%	-14.23%	-25.49%
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	-22.56%	-3.42%	-19.14%
Average Drawdown Average peak-to-trough decline	-39.16%	-2.34%	-36.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.63%	2.77%	+7.86%

Volatility

COPX vs. XWEV.L - Volatility Comparison

Global X Copper Miners ETF (COPX) has a higher volatility of 13.65% compared to Xtrackers MSCI World Value ESG UCITS ETF 1C (XWEV.L) at 4.25%. This indicates that COPX's price experiences larger fluctuations and is considered to be riskier than XWEV.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPX	XWEV.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.65%	4.25%	+9.40%
Volatility (6M) Calculated over the trailing 6-month period	39.63%	12.79%	+26.84%
Volatility (1Y) Calculated over the trailing 1-year period	45.47%	15.43%	+30.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.21%	15.06%	+22.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.81%	15.06%	+20.75%

COPX vs. XWEV.L - Expense Ratio Comparison

COPX has a 0.65% expense ratio, which is higher than XWEV.L's 0.25% expense ratio.

Dividends

COPX vs. XWEV.L - Dividend Comparison

COPX's dividend yield for the trailing twelve months is around 2.61%, while XWEV.L 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	2.61%	2.68%	1.80%	2.39%	3.14%	1.48%	1.30%	1.37%	2.59%	1.57%	0.60%	1.20%
XWEV.L Xtrackers MSCI World Value ESG UCITS ETF 1C	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 XWEV.L in my portfolio?

COPX and XWEV.L have a correlation of 0.51, 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 XWEV.L?

On fees, XWEV.L is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, COPX or XWEV.L?

XWEV.L is cheaper with a 0.25% expense ratio, compared with 0.65% for COPX.

What is the main difference between COPX and XWEV.L?

COPX is categorized as Copper, while XWEV.L is Global Equities. COPX tracks Solactive Global Copper Miners Total Return Index, while XWEV.L tracks MSCI World Value Low Carbon SRI Screened Select. They also come from different issuers: Global X and Xtrackers. Their fees differ too: 0.65% for COPX and 0.25% for XWEV.L.