COPY vs. FWD

Last updated Jul 28, 2026

COPY (Tweedy, Browne Insider + Value ETF) and FWD (AB Disruptors ETF) are both Global Equities funds. Both are actively managed. Over the past year, COPY returned 28.82% vs 36.58% for FWD. Their 0.55 correlation means they have sometimes moved together and sometimes differently. COPY charges 0.80%/yr vs 0.65%/yr for FWD.

Performance

COPY vs. FWD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tweedy, Browne Insider + Value ETF (COPY) and AB Disruptors ETF (FWD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with COPY having a 19.69% return and FWD slightly higher at 20.52%.

COPY

• 1D: 0.59%
• 1M: 4.61%
• 6M: 12.45%
• YTD: 19.69%
• 1Y: 28.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 32.02%

FWD

• 1D: -1.22%
• 1M: -10.63%
• 6M: 10.81%
• YTD: 20.52%
• 1Y: 36.58%
• 3Y*: 29.82%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 32.08%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
COPY Tweedy, Browne Insider + Value ETF	$2.55M	$1.98M	$1.87M
FWD AB Disruptors ETF	$36.53M	$38.87M	$34.57M

COPY vs. FWD - Yearly Performance Comparison

	2026 (YTD)	2025	2024
COPY Tweedy, Browne Insider + Value ETF	19.69%	29.52%	0.05%
FWD AB Disruptors ETF	20.52%	32.00%	-3.98%

Correlation

The correlation between COPY and FWD is 0.51, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.51
Correlation (All Time) Calculated using the full available price history since Dec 27, 2024	0.55

The correlation between COPY and FWD has been stable across timeframes, ranging from 0.51 to 0.55 - a consistent structural relationship.

Return for Risk

COPY vs. FWD — Risk / Return Rank

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

COPY

COPY Risk / Return Rank: 88
COPY Sharpe Ratio Rank: 90
COPY Sortino Ratio Rank: 91
COPY Omega Ratio Rank: 88
COPY Calmar Ratio Rank: 84
COPY Martin Ratio Rank: 87

FWD

FWD Risk / Return Rank: 57
FWD Sharpe Ratio Rank: 53
FWD Sortino Ratio Rank: 49
FWD Omega Ratio Rank: 50
FWD Calmar Ratio Rank: 67
FWD Martin Ratio Rank: 63

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.

COPY vs. FWD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tweedy, Browne Insider + Value ETF (COPY) and AB Disruptors ETF (FWD). 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.

	COPY	FWD	Difference
Sharpe ratio: Return per unit of total volatility	2.21	1.28	+0.93
Sortino ratio: Return per unit of downside risk	3.23	1.76	+1.48
Omega ratio: Gain probability vs. loss probability	1.39	1.23	+0.17
Calmar ratio: Return relative to maximum drawdown	3.19	2.38	+0.82
Martin ratio: Return relative to average drawdown	12.92	7.59	+5.33

COPY vs. FWD - Sharpe Ratio Comparison

The current COPY Sharpe Ratio is 2.21, which is higher than the FWD Sharpe Ratio of 1.28. The chart below compares the historical Sharpe Ratios of COPY and FWD, 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

COPY vs. FWD - Drawdown Comparison

The maximum COPY drawdown since its inception was -14.05%, smaller than the maximum FWD drawdown of -29.02%. Use the drawdown chart below to compare losses from any high point for COPY and FWD.

Drawdown Indicators

	COPY	FWD	Difference
Max Drawdown Largest peak-to-trough decline	-14.05%	-29.02%	+14.97%
Max Drawdown (1Y) Largest decline over 1 year	-9.07%	-15.46%	+6.39%
Max Drawdown (3Y) Largest decline over 3 years	—	-29.02%	—
Current Drawdown Current decline from peak	0.00%	-15.46%	+15.46%
Average Drawdown Average peak-to-trough decline	-1.50%	-4.19%	+2.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.29%	4.83%	-2.54%

Volatility

COPY vs. FWD - Volatility Comparison

The current volatility for Tweedy, Browne Insider + Value ETF (COPY) is 2.89%, while AB Disruptors ETF (FWD) has a volatility of 10.96%. This indicates that COPY experiences smaller price fluctuations and is considered to be less risky than FWD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPY	FWD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.89%	10.96%	-8.07%
Volatility (6M) Calculated over the trailing 6-month period	10.11%	24.14%	-14.03%
Volatility (1Y) Calculated over the trailing 1-year period	13.12%	28.82%	-15.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	25.82%	-8.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	25.82%	-8.90%

COPY vs. FWD - Expense Ratio Comparison

COPY has a 0.80% expense ratio, which is higher than FWD's 0.65% expense ratio.

Dividends

COPY vs. FWD - Dividend Comparison

COPY's dividend yield for the trailing twelve months is around 0.80%, more than FWD's 0.09% yield.

Position	TTM	2025	2024
COPY Tweedy, Browne Insider + Value ETF	0.80%	0.95%	0.00%
FWD AB Disruptors ETF	0.09%	0.11%	1.89%

Frequently Asked Questions

Can I hold both COPY and FWD in my portfolio?

COPY and FWD 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 is riskier, COPY or FWD?

FWD has higher volatility (10.96%) compared to COPY (2.89%). In terms of maximum drawdown, COPY dropped -14.05% vs FWD's -29.02%.

Which ETF is better, COPY or FWD?

On 1-year performance, FWD leads with 36.58% vs 28.82% for COPY. On fees, FWD is cheaper at 0.65% per year. On volatility, COPY has been the lower-risk option at 2.89%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COPY or FWD?

Over the 1-year period, FWD has performed better with a 36.58% return vs 28.82%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPY or FWD?

FWD is cheaper with a 0.65% expense ratio, compared with 0.80% for COPY.

Which ETF pays a higher dividend yield, COPY or FWD?

COPY has the higher dividend yield at 0.80%, compared with 0.09% for FWD.

What is the main difference between COPY and FWD?

They also come from different issuers: Tweedy, Browne and AllianceBernstein. Their fees differ too: 0.80% for COPY and 0.65% for FWD.

Which has better risk-adjusted returns?

COPY currently has the higher Sharpe Ratio (2.21 vs 1.28), 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.