DGP vs. COPZ

Last updated Jun 24, 2026

DGP (DB Gold Double Long Exchange Traded Notes) and COPZ (Defiance Daily Target 2X Long Copper ETF) are both exchange-traded funds - DGP is a Leveraged Commodities fund tracking the Deutsche Bank Liquid Commodity Index-Optimum Yield Gold (200%), while COPZ is a Copper fund actively managed by Defiance. DGP is passively managed, while COPZ is actively managed. A 0.68 correlation means they provide meaningful diversification when combined. DGP charges 0.75%/yr vs 0.95%/yr for COPZ.

Performance

DGP vs. COPZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DB Gold Double Long Exchange Traded Notes (DGP) and Defiance Daily Target 2X Long Copper ETF (COPZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DGP

• 1D: -3.65%
• 1M: -17.84%
• YTD: -14.58%
• 6M: -21.57%
• 1Y: 32.14%
• 3Y*: 49.95%
• 5Y*: 29.64%
• 10Y*: 17.25%

COPZ

• 1D: -12.01%
• 1M: -13.49%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DGP vs. COPZ - Yearly Performance Comparison

	2026 (YTD)
DGP DB Gold Double Long Exchange Traded Notes	-31.91%
COPZ Defiance Daily Target 2X Long Copper ETF	-28.95%

Correlation

The correlation between DGP and COPZ 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

Return for Risk

DGP vs. COPZ — Risk / Return Rank

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

DGP

DGP Risk / Return Rank: 19
DGP Sharpe Ratio Rank: 18
DGP Sortino Ratio Rank: 20
DGP Omega Ratio Rank: 22
DGP Calmar Ratio Rank: 18
DGP Martin Ratio Rank: 18

COPZ

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

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.

DGP vs. COPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DB Gold Double Long Exchange Traded Notes (DGP) and Defiance Daily Target 2X Long Copper ETF (COPZ). 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.

	DGP	COPZ	Difference
Sharpe ratio: Return per unit of total volatility	0.59	—	—
Sortino ratio: Return per unit of downside risk	1.09	—	—
Omega ratio: Gain probability vs. loss probability	1.15	—	—
Calmar ratio: Return relative to maximum drawdown	0.73	—	—
Martin ratio: Return relative to average drawdown	1.93	—	—

Drawdowns

DGP vs. COPZ - Drawdown Comparison

The maximum DGP drawdown since its inception was -75.31%, which is greater than COPZ's maximum drawdown of -49.79%. Use the drawdown chart below to compare losses from any high point for DGP and COPZ.

Drawdown Indicators

	DGP	COPZ	Difference
Max Drawdown Largest peak-to-trough decline	-75.31%	-49.79%	-25.52%
Max Drawdown (1Y) Largest decline over 1 year	-43.98%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-43.98%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-51.24%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-51.24%	—	—
Current Drawdown Current decline from peak	-43.16%	-41.30%	-1.86%
Average Drawdown Average peak-to-trough decline	-41.08%	-28.87%	-12.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	16.71%	—	—

Volatility

Volatility by Period

	DGP	COPZ	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.11%	—	—
Volatility (6M) Calculated over the trailing 6-month period	48.95%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	54.67%	110.79%	-56.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.27%	110.79%	-71.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.31%	110.79%	-75.48%

DGP vs. COPZ - Expense Ratio Comparison

DGP has a 0.75% expense ratio, which is lower than COPZ's 0.95% expense ratio.

Dividends

DGP vs. COPZ - Dividend Comparison

Neither DGP nor COPZ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DGP and COPZ in my portfolio?

DGP and COPZ 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.

Which ETF is better, DGP or COPZ?

On fees, DGP is cheaper at 0.75% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, DGP or COPZ?

DGP is cheaper with a 0.75% expense ratio, compared with 0.95% for COPZ.

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

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

What is the main difference between DGP and COPZ?

DGP is categorized as Leveraged Commodities, while COPZ is Copper. They also come from different issuers: Deutsche Bank and Defiance. Their fees differ too: 0.75% for DGP and 0.95% for COPZ.