COPZ vs. GSG
COPZ (Defiance Daily Target 2X Long Copper ETF) and GSG (iShares S&P GSCI Commodity-Indexed Trust) are both exchange-traded funds - COPZ is a Copper fund actively managed by Defiance, while GSG is a Commodities fund tracking the S&P GSCI Total Return Index. COPZ is actively managed, while GSG is passively managed. Their -0.31 correlation means they have often moved in opposite directions in the past. COPZ charges 0.95%/yr vs 0.75%/yr for GSG.
Performance
COPZ vs. GSG - Performance Comparison
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Returns By Period
COPZ
- 1D
- 6.73%
- 1M
- 16.04%
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
GSG
- 1D
- 0.36%
- 1M
- 5.78%
- 6M
- 21.95%
- YTD
- 32.52%
- 1Y
- 37.47%
- 3Y*
- 12.51%
- 5Y*
- 14.20%
- 10Y*
- 8.03%
- ALL TIME*
- -2.36%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $236.74K | $260.66K | $605.24K | |
| $18.96M | $16.42M | $22.87M |
COPZ vs. GSG - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
COPZ Defiance Daily Target 2X Long Copper ETF | -19.42% |
GSG iShares S&P GSCI Commodity-Indexed Trust | 24.79% |
Correlation
The correlation between COPZ and GSG is -0.31, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 18, 2026 | -0.31 |
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Return for Risk
COPZ vs. GSG — Risk / Return Rank
COPZ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
GSG
COPZ vs. GSG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long Copper ETF (COPZ) and iShares S&P GSCI Commodity-Indexed Trust (GSG). 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.
| COPZ | GSG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.27 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.00 | — |
| Martin ratioReturn relative to average drawdown | — | 6.32 | — |
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Drawdowns
COPZ vs. GSG - Drawdown Comparison
The maximum COPZ drawdown since its inception was -51.59%, smaller than the maximum GSG drawdown of -89.62%. Use the drawdown chart below to compare losses from any high point for COPZ and GSG.
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Drawdown Indicators
| COPZ | GSG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.59% | -89.62% | +38.03% |
Max Drawdown (1Y)Largest decline over 1 year | — | -18.81% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.81% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -29.12% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -57.64% | — |
Current DrawdownCurrent decline from peak | -33.41% | -59.99% | +26.58% |
Average DrawdownAverage peak-to-trough decline | -33.23% | -63.67% | +30.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 5.94% | — |
Volatility
COPZ vs. GSG - Volatility Comparison
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Volatility by Period
| COPZ | GSG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 8.99% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 21.89% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 107.01% | 24.44% | +82.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 107.01% | 22.90% | +84.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 107.01% | 22.08% | +84.93% |
COPZ vs. GSG - Expense Ratio Comparison
COPZ has a 0.95% expense ratio, which is higher than GSG's 0.75% expense ratio.
Dividends
COPZ vs. GSG - Dividend Comparison
Neither COPZ nor GSG has paid dividends to shareholders.
Frequently Asked Questions
COPZ and GSG have a correlation of -0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, GSG is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.
GSG is cheaper with a 0.75% expense ratio, compared with 0.95% for COPZ.
COPZ and GSG have nearly identical dividend yields, around 0.00%.
COPZ is categorized as Copper, while GSG is Commodities. They also come from different issuers: Defiance and iShares. Their fees differ too: 0.95% for COPZ and 0.75% for GSG.
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