COPZ vs. SHNY

Last updated Jun 4, 2026

COPZ (Defiance Daily Target 2X Long Copper ETF) and SHNY (MicroSectors Gold 3X Leveraged ETN) are both Leveraged Commodities funds. A 0.61 correlation means they provide meaningful diversification when combined. Both charge a 0.95% expense ratio.

Performance

COPZ vs. SHNY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Defiance Daily Target 2X Long Copper ETF (COPZ) and MicroSectors Gold 3X Leveraged ETN (SHNY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

COPZ

• 1D: -6.96%
• 1M: 32.69%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SHNY

• 1D: -3.20%
• 1M: -7.37%
• YTD: -14.45%
• 6M: -10.44%
• 1Y: 49.39%
• 3Y*: 59.66%
• 5Y*: —
• 10Y*: —

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

COPZ vs. SHNY - Yearly Performance Comparison

	2026 (YTD)
COPZ Defiance Daily Target 2X Long Copper ETF	-5.37%
SHNY MicroSectors Gold 3X Leveraged ETN	-37.59%

Correlation

The correlation between COPZ and SHNY is 0.61, 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 19, 2026	0.61

Return for Risk

COPZ vs. SHNY — Risk / Return Rank

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

SHNY

SHNY Risk / Return Rank: 21
SHNY Sharpe Ratio Rank: 19
SHNY Sortino Ratio Rank: 23
SHNY Omega Ratio Rank: 27
SHNY Calmar Ratio Rank: 20
SHNY Martin Ratio Rank: 18

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.

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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	COPZ	SHNY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.17	1.01	-1.18

Drawdowns

COPZ vs. SHNY - Drawdown Comparison

The maximum COPZ drawdown since its inception was -49.79%, smaller than the maximum SHNY drawdown of -54.99%. Use the drawdown chart below to compare losses from any high point for COPZ and SHNY.

Drawdown Indicators

	COPZ	SHNY	Difference
Max Drawdown Largest peak-to-trough decline	-49.79%	-54.99%	+5.20%
Max Drawdown (1Y) Largest decline over 1 year	—	-54.99%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-54.99%	—
Current Drawdown Current decline from peak	-21.65%	-54.99%	+33.34%
Average Drawdown Average peak-to-trough decline	-28.52%	-14.94%	-13.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	25.66%	—

Volatility

Volatility by Period

	COPZ	SHNY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	16.40%	—
Volatility (6M) Calculated over the trailing 6-month period	—	70.87%	—
Volatility (1Y) Calculated over the trailing 1-year period	104.89%	78.80%	+26.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	104.89%	58.36%	+46.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	104.89%	58.36%	+46.53%

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.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both COPZ and SHNY in my portfolio?

COPZ and SHNY have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, COPZ or SHNY?

Both ETFs have the same 0.95% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, COPZ or SHNY?

COPZ and SHNY have the same expense ratio: 0.95% per year.

Which ETF pays a higher dividend yield, COPZ or SHNY?

COPZ and SHNY have nearly identical dividend yields, around 0.00%.

What is the main difference between COPZ and SHNY?

They also come from different issuers: Defiance and BMO.