HG=F vs. FCX

Last updated Apr 2, 2026

Compare and contrast key facts about Copper (HG=F) and Freeport-McMoRan Inc. (FCX).

Performance

HG=F vs. FCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Copper (HG=F) and Freeport-McMoRan Inc. (FCX). The values are adjusted to include any dividend payments, if applicable.

HG=F vs. FCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
HG=F Copper	-0.22%	39.82%	3.50%	2.10%	-14.63%	26.84%	25.81%	6.31%	-20.28%	31.73%
FCX Freeport-McMoRan Inc.	20.80%	35.41%	-9.41%	13.69%	-7.91%	61.41%	99.06%	29.59%	-45.11%	43.75%

Returns By Period

In the year-to-date period, HG=F achieves a -0.22% return, which is significantly lower than FCX's 20.80% return. Over the past 10 years, HG=F has underperformed FCX with an annualized return of 9.99%, while FCX has yielded a comparatively higher 21.13% annualized return.

HG=F

• 1D: 0.54%
• 1M: -4.70%
• YTD: -0.22%
• 6M: 16.29%
• 1Y: 11.57%
• 3Y*: 11.08%
• 5Y*: 7.06%
• 10Y*: 9.99%

FCX

• 1D: 4.12%
• 1M: -10.38%
• YTD: 20.80%
• 6M: 57.51%
• 1Y: 62.74%
• 3Y*: 15.97%
• 5Y*: 14.05%
• 10Y*: 21.13%

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

Return for Risk

HG=F vs. FCX — Risk / Return Rank

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

FCX

FCX Risk / Return Rank: 78
FCX Sharpe Ratio Rank: 79
FCX Sortino Ratio Rank: 71
FCX Omega Ratio Rank: 74
FCX Calmar Ratio Rank: 82
FCX Martin Ratio Rank: 82

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.

HG=F vs. FCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Copper (HG=F) and Freeport-McMoRan Inc. (FCX). 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.

	HG=F	FCX	Difference
Sharpe ratio Return per unit of total volatility	0.27	1.24	-0.96
Sortino ratio Return per unit of downside risk	0.58	1.68	-1.09
Omega ratio Gain probability vs. loss probability	1.10	1.25	-0.15
Calmar ratio Return relative to maximum drawdown	0.89	2.57	-1.68
Martin ratio Return relative to average drawdown	1.85	6.72	-4.87
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

HG=F vs. FCX - Sharpe Ratio Comparison

The current HG=F Sharpe Ratio is 0.27, which is lower than the FCX Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of HG=F and FCX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	HG=F	FCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.27	1.24	-0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.32	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.41	0.43	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.15	-0.15

Correlation

The correlation between HG=F and FCX is 0.45, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Drawdowns

HG=F vs. FCX - Drawdown Comparison

The maximum HG=F drawdown since its inception was -99.27%, which is greater than FCX's maximum drawdown of -92.52%. Use the drawdown chart below to compare losses from any high point for HG=F and FCX.

Drawdown Indicators

	HG=F	FCX	Difference
Max Drawdown Largest peak-to-trough decline	-99.27%	-92.52%	-6.75%
Max Drawdown (1Y) Largest decline over 1 year	-25.17%	-24.90%	-0.27%
Max Drawdown (5Y) Largest decline over 5 years	-34.96%	-51.47%	+16.51%
Max Drawdown (10Y) Largest decline over 10 years	-36.54%	-72.59%	+36.05%
Current Drawdown Current decline from peak	-9.04%	-11.07%	+2.03%
Average Drawdown Average peak-to-trough decline	-29.73%	-39.82%	+10.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.05%	9.51%	+2.54%

Volatility

HG=F vs. FCX - Volatility Comparison

The current volatility for Copper (HG=F) is 7.03%, while Freeport-McMoRan Inc. (FCX) has a volatility of 17.03%. This indicates that HG=F experiences smaller price fluctuations and is considered to be less risky than FCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HG=F	FCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.03%	17.03%	-10.00%
Volatility (6M) Calculated over the trailing 6-month period	20.76%	31.32%	-10.56%
Volatility (1Y) Calculated over the trailing 1-year period	36.91%	50.89%	-13.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.75%	44.72%	-17.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.53%	49.31%	-25.78%