FXZ vs. COPX

Last updated Jun 24, 2026

FXZ (First Trust Materials AlphaDEX Fund) and COPX (Global X Copper Miners ETF) are both exchange-traded funds - FXZ is a Materials fund tracking the StrataQuant Materials Index, while COPX is a Copper fund tracking the Solactive Global Copper Miners Total Return Index. Both are passively managed. Over the past 10 years, FXZ returned 11.46%/yr vs 20.81%/yr for COPX. A 0.70 correlation means they provide meaningful diversification when combined. FXZ charges 0.67%/yr vs 0.65%/yr for COPX.

Performance

FXZ vs. COPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in First Trust Materials AlphaDEX Fund (FXZ) and Global X Copper Miners ETF (COPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FXZ achieves a 24.42% return, which is significantly higher than COPX's 10.71% return. Over the past 10 years, FXZ has underperformed COPX with an annualized return of 11.46%, while COPX has yielded a comparatively higher 20.81% annualized return.

FXZ

• 1D: -2.45%
• 1M: 0.61%
• YTD: 24.42%
• 6M: 22.36%
• 1Y: 44.84%
• 3Y*: 11.20%
• 5Y*: 8.66%
• 10Y*: 11.46%

COPX

• 1D: -6.37%
• 1M: -4.64%
• YTD: 10.71%
• 6M: 10.01%
• 1Y: 92.36%
• 3Y*: 31.59%
• 5Y*: 19.08%
• 10Y*: 20.81%

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

FXZ vs. COPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FXZ First Trust Materials AlphaDEX Fund	24.42%	16.25%	-16.31%	16.27%	-0.92%	30.84%	22.52%	21.52%	-22.62%	23.72%
COPX Global X Copper Miners ETF	10.71%	93.50%	3.57%	8.38%	-0.76%	23.39%	51.66%	12.48%	-31.31%	38.92%

Correlation

The correlation between FXZ and COPX is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Apr 20, 2010	0.70

The correlation between FXZ and COPX has been stable across timeframes, ranging from 0.64 to 0.70 - a consistent structural relationship.

FXZ vs. COPX - Sectors Allocation Comparison

Sectors	FXZ	COPX
Basic Materials	76.9%	96.7%
Industrials	15.4%	3.3%
Consumer Cyclical	5.1%	-
Communication Services	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Real Estate	-	-
Technology	-	-
Utilities	-	-

Return for Risk

FXZ vs. COPX — Risk / Return Rank

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

FXZ

FXZ Risk / Return Rank: 66
FXZ Sharpe Ratio Rank: 64
FXZ Sortino Ratio Rank: 61
FXZ Omega Ratio Rank: 57
FXZ Calmar Ratio Rank: 74
FXZ Martin Ratio Rank: 73

COPX

COPX Risk / Return Rank: 60
COPX Sharpe Ratio Rank: 67
COPX Sortino Ratio Rank: 52
COPX Omega Ratio Rank: 54
COPX Calmar Ratio Rank: 69
COPX Martin Ratio Rank: 59

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.

FXZ vs. COPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Materials AlphaDEX Fund (FXZ) 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.

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.

	FXZ	COPX	Difference
Sharpe ratio: Return per unit of total volatility	1.98	2.09	-0.11
Sortino ratio: Return per unit of downside risk	2.68	2.46	+0.22
Omega ratio: Gain probability vs. loss probability	1.33	1.32	+0.01
Calmar ratio: Return relative to maximum drawdown	3.53	3.34	+0.20
Martin ratio: Return relative to average drawdown	13.08	10.16	+2.92

FXZ vs. COPX - Sharpe Ratio Comparison

The current FXZ Sharpe Ratio is 1.98, which is comparable to the COPX Sharpe Ratio of 2.09. The chart below compares the historical Sharpe Ratios of FXZ and COPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FXZ vs. COPX - Drawdown Comparison

The maximum FXZ drawdown since its inception was -65.46%, smaller than the maximum COPX drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for FXZ and COPX.

Drawdown Indicators

	FXZ	COPX	Difference
Max Drawdown Largest peak-to-trough decline	-65.46%	-83.16%	+17.70%
Max Drawdown (1Y) Largest decline over 1 year	-12.75%	-27.82%	+15.07%
Max Drawdown (3Y) Largest decline over 3 years	-33.99%	-39.72%	+5.73%
Max Drawdown (5Y) Largest decline over 5 years	-33.99%	-42.12%	+8.13%
Max Drawdown (10Y) Largest decline over 10 years	-49.41%	-65.41%	+16.00%
Current Drawdown Current decline from peak	-5.23%	-16.95%	+11.72%
Average Drawdown Average peak-to-trough decline	-11.33%	-39.24%	+27.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	9.12%	-5.68%

Volatility

FXZ vs. COPX - Volatility Comparison

The current volatility for First Trust Materials AlphaDEX Fund (FXZ) is 7.83%, while Global X Copper Miners ETF (COPX) has a volatility of 19.05%. This indicates that FXZ 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.

Volatility by Period

	FXZ	COPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.83%	19.05%	-11.22%
Volatility (6M) Calculated over the trailing 6-month period	17.24%	39.12%	-21.88%
Volatility (1Y) Calculated over the trailing 1-year period	22.77%	44.42%	-21.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.19%	37.03%	-12.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.93%	35.74%	-10.81%

FXZ vs. COPX - Expense Ratio Comparison

FXZ has a 0.67% expense ratio, which is higher than COPX's 0.65% expense ratio.

Dividends

FXZ vs. COPX - Dividend Comparison

FXZ's dividend yield for the trailing twelve months is around 1.44%, less than COPX's 2.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COPX Global X Copper Miners ETF	2.42%	2.68%	1.80%	2.39%	3.14%	1.48%	1.30%	1.37%	2.59%	1.57%	0.60%	1.20%
FXZ First Trust Materials AlphaDEX Fund	1.44%	1.74%	1.81%	1.97%	1.56%	1.11%	1.51%	1.58%	1.38%	1.01%	1.19%	1.26%

Frequently Asked Questions

Can I hold both FXZ and COPX in my portfolio?

FXZ and COPX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FXZ or COPX?

COPX has higher volatility (19.05%) compared to FXZ (7.83%). In terms of maximum drawdown, FXZ dropped -65.46% vs COPX's -83.16%.

Which ETF is better, FXZ or COPX?

On 10-year performance, COPX leads with 20.81% vs 11.46% for FXZ. On fees, COPX is cheaper at 0.65% per year. On volatility, FXZ has been the lower-risk option at 7.83%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FXZ or COPX?

Over the 10-year period, COPX has performed better with a 20.81% return vs 11.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FXZ or COPX?

COPX is cheaper with a 0.65% expense ratio, compared with 0.67% for FXZ.

Which ETF pays a higher dividend yield, FXZ or COPX?

COPX has the higher dividend yield at 2.42%, compared with 1.44% for FXZ.

What is the main difference between FXZ and COPX?

FXZ is categorized as Materials, while COPX is Copper. FXZ tracks StrataQuant Materials Index, while COPX tracks Solactive Global Copper Miners Total Return Index. They also come from different issuers: First Trust and Global X. Their fees differ too: 0.67% for FXZ and 0.65% for COPX.

Which has better risk-adjusted returns?

COPX currently has the higher Sharpe Ratio (2.09 vs 1.98), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.