ERNX.DE vs. COPX
ERNX.DE (iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating) and COPX (Global X Copper Miners ETF) are both exchange-traded funds - ERNX.DE is a Ultrashort Bond fund tracking the Markit iBoxx EUR Liquid Investment Grade Ultrashort Index, while COPX is a Materials fund tracking the Solactive Global Copper Miners Total Return Index. Both are passively managed. Over the past 3 years, ERNX.DE returned 3.33%/yr vs 34.31%/yr for COPX. At a correlation of -0.03, they often move in opposite directions. ERNX.DE charges 0.09%/yr vs 0.65%/yr for COPX.
Performance
ERNX.DE vs. COPX - Performance Comparison
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Different Trading Currencies
ERNX.DE is traded in EUR, while COPX is traded in USD. To make them comparable, the COPX values have been converted to EUR using the latest available exchange rates.
Returns By Period
In the year-to-date period, ERNX.DE achieves a 0.87% return, which is significantly lower than COPX's 27.10% return.
ERNX.DE
- 1D
- 0.04%
- 1M
- 0.26%
- YTD
- 0.87%
- 6M
- 0.99%
- 1Y
- 2.18%
- 3Y*
- 3.33%
- 5Y*
- —
- 10Y*
- —
COPX
- 1D
- -0.17%
- 1M
- 16.13%
- YTD
- 27.10%
- 6M
- 37.77%
- 1Y
- 114.34%
- 3Y*
- 34.31%
- 5Y*
- 20.98%
- 10Y*
- 21.19%
ERNX.DE vs. COPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
ERNX.DE iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating | 0.87% | 2.69% | 4.04% | 3.34% | 0.10% |
COPX Global X Copper Miners ETF | 27.10% | 70.54% | 10.40% | 5.13% | -9.87% |
Correlation
The correlation between ERNX.DE and COPX is -0.15, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (All Time) Calculated using the full available price history since May 2, 2022 | -0.03 |
The correlation between ERNX.DE and COPX shifts across timeframes, from -0.15 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ERNX.DE vs. COPX — Risk / Return Rank
ERNX.DE
COPX
ERNX.DE vs. COPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating (ERNX.DE) and Global X Copper Miners ETF (COPX). 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.
| ERNX.DE | COPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.02 | ||
| Sortino ratioReturn per unit of downside risk | +1.80 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.42 | +0.25 |
| Calmar ratioReturn relative to maximum drawdown | 10.99 | 4.38 | +6.61 |
| Martin ratioReturn relative to average drawdown | 54.93 | 14.44 | +40.49 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ERNX.DE | COPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.94 | 2.91 | +0.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.62 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.63 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 3.90 | 0.23 | +3.67 |
Drawdowns
ERNX.DE vs. COPX - Drawdown Comparison
The maximum ERNX.DE drawdown since its inception was -0.83%, smaller than the maximum COPX drawdown of -79.16%. Use the drawdown chart below to compare losses from any high point for ERNX.DE and COPX.
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Drawdown Indicators
| ERNX.DE | COPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -0.83% | -79.16% | +78.33% |
Max Drawdown (1Y)Largest decline over 1 year | -0.20% | -26.24% | +26.04% |
Max Drawdown (3Y)Largest decline over 3 years | -0.20% | -40.25% | +40.05% |
Max Drawdown (5Y)Largest decline over 5 years | — | -40.25% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -61.53% | — |
Current DrawdownCurrent decline from peak | -0.00% | -4.03% | +4.03% |
Average DrawdownAverage peak-to-trough decline | -0.09% | -34.99% | +34.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.04% | 7.95% | -7.91% |
Volatility
ERNX.DE vs. COPX - Volatility Comparison
The current volatility for iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating (ERNX.DE) is 0.17%, while Global X Copper Miners ETF (COPX) has a volatility of 14.58%. This indicates that ERNX.DE experiences smaller price fluctuations and is considered to be less risky than COPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ERNX.DE | COPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.17% | 14.58% | -14.41% |
Volatility (6M)Calculated over the trailing 6-month period | 0.56% | 33.74% | -33.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.74% | 39.47% | -38.73% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.68% | 34.11% | -33.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 0.68% | 33.96% | -33.28% |
ERNX.DE vs. COPX - Expense Ratio Comparison
ERNX.DE has a 0.09% expense ratio, which is lower than COPX's 0.65% expense ratio.
Dividends
ERNX.DE vs. COPX - Dividend Comparison
ERNX.DE has not paid dividends to shareholders, while COPX's dividend yield for the trailing twelve months is around 2.13%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COPX Global X Copper Miners ETF | 2.13% | 2.68% | 1.80% | 2.39% | 3.14% | 1.48% | 1.30% | 1.37% | 2.59% | 1.57% | 0.60% | 1.20% |
ERNX.DE iShares Euro Ultrashort Bond UCITS ETF EUR Accumulating | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
ERNX.DE and COPX have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ERNX.DE is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ERNX.DE is cheaper with a 0.09% expense ratio, compared with 0.65% for COPX.
ERNX.DE is categorized as Ultrashort Bond, while COPX is Materials. ERNX.DE tracks Markit iBoxx EUR Liquid Investment Grade Ultrashort Index, while COPX tracks Solactive Global Copper Miners Total Return Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.09% for ERNX.DE and 0.65% for COPX.
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