GDIG.L vs. COPX.L

Last updated Jul 18, 2026

GDIG.L (VanEck S&P Global Mining UCITS ETF) and COPX.L (Global X Copper Miners UCITS ETF USD (Acc)) are both exchange-traded funds - GDIG.L is a Materials fund tracking the S&P Global Mining Reduced Coal Index, while COPX.L is a Copper fund tracking the Solactive Global Copper Miners v2 Index. Both are passively managed. Over the past 3 years, GDIG.L returned 20.16%/yr vs 25.62%/yr for COPX.L. Their correlation of 0.84 suggests significant overlap in exposure. GDIG.L charges 0.50%/yr vs 0.55%/yr for COPX.L.

Performance

GDIG.L vs. COPX.L - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in VanEck S&P Global Mining UCITS ETF (GDIG.L) and Global X Copper Miners UCITS ETF USD (Acc) (COPX.L). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GDIG.L achieves a -2.57% return, which is significantly lower than COPX.L's 2.04% return.

GDIG.L

• 1D: -2.00%
• 1M: -17.87%
• 6M: -13.29%
• YTD: -2.57%
• 1Y: 48.61%
• 3Y*: 20.16%
• 5Y*: 12.28%
• 10Y*: —

COPX.L

• 1D: -2.81%
• 1M: -18.83%
• 6M: -8.40%
• YTD: 2.04%
• 1Y: 72.23%
• 3Y*: 25.62%
• 5Y*: —
• 10Y*: —

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

GDIG.L vs. COPX.L - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
GDIG.L VanEck S&P Global Mining UCITS ETF	-2.57%	90.59%	-8.69%	4.58%	3.63%	3.27%
COPX.L Global X Copper Miners UCITS ETF USD (Acc)	2.04%	95.08%	2.12%	9.04%	0.56%	2.02%

Correlation

The correlation between GDIG.L and COPX.L is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (All Time) Calculated using the full available price history since Nov 22, 2021	0.84

The correlation between GDIG.L and COPX.L has been stable across timeframes, ranging from 0.84 to 0.91 - a consistent structural relationship.

Return for Risk

GDIG.L vs. COPX.L — Risk / Return Rank

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

GDIG.L

GDIG.L Risk / Return Rank: 43
GDIG.L Sharpe Ratio Rank: 46
GDIG.L Sortino Ratio Rank: 43
GDIG.L Omega Ratio Rank: 42
GDIG.L Calmar Ratio Rank: 44
GDIG.L Martin Ratio Rank: 38

COPX.L

COPX.L Risk / Return Rank: 61
COPX.L Sharpe Ratio Rank: 67
COPX.L Sortino Ratio Rank: 61
COPX.L Omega Ratio Rank: 55
COPX.L Calmar Ratio Rank: 69
COPX.L Martin Ratio Rank: 52

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.

GDIG.L vs. COPX.L - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck S&P Global Mining UCITS ETF (GDIG.L) and Global X Copper Miners UCITS ETF USD (Acc) (COPX.L). 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.

	GDIG.L	COPX.L	Difference
Sharpe ratio: Return per unit of total volatility	1.28	1.62	-0.35
Sortino ratio: Return per unit of downside risk	1.77	2.19	-0.42
Omega ratio: Gain probability vs. loss probability	1.22	1.26	-0.04
Calmar ratio: Return relative to maximum drawdown	1.77	2.58	-0.81
Martin ratio: Return relative to average drawdown	4.67	6.65	-1.98

GDIG.L vs. COPX.L - Sharpe Ratio Comparison

The current GDIG.L Sharpe Ratio is 1.28, which is comparable to the COPX.L Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of GDIG.L and COPX.L, 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

GDIG.L vs. COPX.L - Drawdown Comparison

The maximum GDIG.L drawdown since its inception was -40.03%, smaller than the maximum COPX.L drawdown of -42.34%. Use the drawdown chart below to compare losses from any high point for GDIG.L and COPX.L.

Drawdown Indicators

	GDIG.L	COPX.L	Difference
Max Drawdown Largest peak-to-trough decline	-40.03%	-42.34%	+2.31%
Max Drawdown (1Y) Largest decline over 1 year	-27.29%	-27.82%	+0.53%
Max Drawdown (3Y) Largest decline over 3 years	-27.29%	-37.96%	+10.67%
Max Drawdown (5Y) Largest decline over 5 years	-40.03%	—	—
Current Drawdown Current decline from peak	-26.43%	-23.84%	-2.59%
Average Drawdown Average peak-to-trough decline	-12.72%	-15.45%	+2.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.38%	10.83%	-0.45%

Volatility

GDIG.L vs. COPX.L - Volatility Comparison

The current volatility for VanEck S&P Global Mining UCITS ETF (GDIG.L) is 11.13%, while Global X Copper Miners UCITS ETF USD (Acc) (COPX.L) has a volatility of 13.20%. This indicates that GDIG.L experiences smaller price fluctuations and is considered to be less risky than COPX.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GDIG.L	COPX.L	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.13%	13.20%	-2.07%
Volatility (6M) Calculated over the trailing 6-month period	31.79%	38.23%	-6.44%
Volatility (1Y) Calculated over the trailing 1-year period	37.90%	44.25%	-6.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.91%	37.62%	-5.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	30.49%	37.62%	-7.13%

GDIG.L vs. COPX.L - Expense Ratio Comparison

GDIG.L has a 0.50% expense ratio, which is lower than COPX.L's 0.55% expense ratio.

Dividends

GDIG.L vs. COPX.L - Dividend Comparison

Neither GDIG.L nor COPX.L has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GDIG.L and COPX.L in my portfolio?

With a correlation of 0.91, GDIG.L and COPX.L move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, GDIG.L or COPX.L?

On fees, GDIG.L is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GDIG.L or COPX.L?

GDIG.L is cheaper with a 0.50% expense ratio, compared with 0.55% for COPX.L.

What is the main difference between GDIG.L and COPX.L?

GDIG.L is categorized as Materials, while COPX.L is Copper. GDIG.L tracks S&P Global Mining Reduced Coal Index, while COPX.L tracks Solactive Global Copper Miners v2 Index. They also come from different issuers: VanEck and Global X. Their fees differ too: 0.50% for GDIG.L and 0.55% for COPX.L.