GLDW vs. COPZ

Last updated Jun 4, 2026

GLDW (Roundhill Gold WeeklyPay ETF) and COPZ (Defiance Daily Target 2X Long Copper ETF) are both exchange-traded funds - GLDW is a Derivative Income fund actively managed by State Street, while COPZ is a Leveraged Commodities fund actively managed by Defiance. Both are actively managed. A 0.59 correlation means they provide meaningful diversification when combined. GLDW charges 0.99%/yr vs 0.95%/yr for COPZ.

Performance

GLDW vs. COPZ - Performance Comparison

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

Returns By Period

GLDW

• 1D: -1.20%
• 1M: -2.48%
• YTD: 1.00%
• 6M: 3.47%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

COPZ

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

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

GLDW vs. COPZ - Yearly Performance Comparison

	2026 (YTD)
GLDW Roundhill Gold WeeklyPay ETF	-14.58%
COPZ Defiance Daily Target 2X Long Copper ETF	-5.37%

Correlation

The correlation between GLDW and COPZ is 0.59, 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	0.59

Return for Risk

GLDW vs. COPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill Gold WeeklyPay ETF (GLDW) 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.

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

Sharpe Ratios by Period

	GLDW	COPZ	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	-0.17	+0.58

Drawdowns

GLDW vs. COPZ - Drawdown Comparison

The maximum GLDW drawdown since its inception was -23.59%, smaller than the maximum COPZ drawdown of -49.79%. Use the drawdown chart below to compare losses from any high point for GLDW and COPZ.

Drawdown Indicators

	GLDW	COPZ	Difference
Max Drawdown Largest peak-to-trough decline	-23.59%	-49.79%	+26.20%
Current Drawdown Current decline from peak	-22.51%	-21.65%	-0.86%
Average Drawdown Average peak-to-trough decline	-8.93%	-28.52%	+19.59%

Volatility

Volatility by Period

	GLDW	COPZ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	36.90%	104.89%	-67.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.90%	104.89%	-67.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.90%	104.89%	-67.99%

GLDW vs. COPZ - Expense Ratio Comparison

GLDW has a 0.99% expense ratio, which is higher than COPZ's 0.95% expense ratio.

Dividends

GLDW vs. COPZ - Dividend Comparison

GLDW's dividend yield for the trailing twelve months is around 19.48%, while COPZ has not paid dividends to shareholders.

Position	TTM	2025
COPZ Defiance Daily Target 2X Long Copper ETF	0.00%	0.00%
GLDW Roundhill Gold WeeklyPay ETF	19.48%	3.75%

Frequently Asked Questions

Can I hold both GLDW and COPZ in my portfolio?

GLDW and COPZ have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, GLDW or COPZ?

On fees, COPZ is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, GLDW or COPZ?

COPZ is cheaper with a 0.95% expense ratio, compared with 0.99% for GLDW.

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

GLDW has the higher dividend yield at 19.48%, compared with 0.00% for COPZ.

What is the main difference between GLDW and COPZ?

GLDW is categorized as Derivative Income, while COPZ is Leveraged Commodities. They also come from different issuers: State Street and Defiance. Their fees differ too: 0.99% for GLDW and 0.95% for COPZ.