COPZ vs. SHNY
COPZ (Defiance Daily Target 2X Long Copper ETF) and SHNY (MicroSectors Gold 3X Leveraged ETN) are both exchange-traded funds - COPZ is a Copper fund actively managed by Defiance, while SHNY is a Leveraged Commodities fund managed by BMO. A 0.68 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.
Performance
COPZ vs. SHNY - Performance Comparison
Loading charts...
Returns By Period
COPZ
- 1D
- 1.24%
- 1M
- -27.83%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SHNY
- 1D
- 2.56%
- 1M
- -31.98%
- YTD
- -38.63%
- 6M
- -46.08%
- 1Y
- 10.93%
- 3Y*
- 45.70%
- 5Y*
- —
- 10Y*
- —
COPZ vs. SHNY - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
COPZ Defiance Daily Target 2X Long Copper ETF | -35.00% |
SHNY MicroSectors Gold 3X Leveraged ETN | -52.34% |
Correlation
The correlation between COPZ and SHNY is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 18, 2026 | 0.68 |
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
COPZ vs. SHNY — Risk / Return Rank
COPZ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
SHNY
COPZ vs. SHNY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long Copper ETF (COPZ) and MicroSectors Gold 3X Leveraged ETN (SHNY). 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 | SHNY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.11 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 0.16 | — |
| Martin ratioReturn relative to average drawdown | — | 0.37 | — |
Loading charts...
Drawdowns
COPZ vs. SHNY - Drawdown Comparison
The maximum COPZ drawdown since its inception was -49.79%, smaller than the maximum SHNY drawdown of -68.52%. Use the drawdown chart below to compare losses from any high point for COPZ and SHNY.
Loading charts...
Drawdown Indicators
| COPZ | SHNY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.79% | -68.52% | +18.73% |
Max Drawdown (1Y)Largest decline over 1 year | — | -68.52% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -68.52% | — |
Current DrawdownCurrent decline from peak | -46.29% | -67.71% | +21.42% |
Average DrawdownAverage peak-to-trough decline | -29.27% | -15.77% | -13.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 29.58% | — |
Volatility
COPZ vs. SHNY - Volatility Comparison
Loading charts...
Volatility by Period
| COPZ | SHNY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 26.07% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 74.74% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 110.71% | 82.02% | +28.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 110.71% | 59.41% | +51.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 110.71% | 59.41% | +51.30% |
COPZ vs. SHNY - Expense Ratio Comparison
Both COPZ and SHNY have an expense ratio of 0.95%.
Dividends
COPZ vs. SHNY - Dividend Comparison
Neither COPZ nor SHNY has paid dividends to shareholders.
Frequently Asked Questions
COPZ and SHNY have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.95% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
COPZ and SHNY have the same expense ratio: 0.95% per year.
COPZ and SHNY have nearly identical dividend yields, around 0.00%.
COPZ is categorized as Copper, while SHNY is Leveraged Commodities. They also come from different issuers: Defiance and BMO.
Find the right allocation for COPZ and SHNY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer