IMSU.L vs. COPX.L
IMSU.L (iShares S&P 500 Materials Sector UCITS ETF USD (Acc)) and COPX.L (Global X Copper Miners UCITS ETF USD (Acc)) are both exchange-traded funds - IMSU.L is a Materials fund tracking the MSCI World/Materials NR USD, while COPX.L is a Copper fund tracking the Solactive Global Copper Miners v2 Index. Both are passively managed. Over the past 3 years, IMSU.L returned 6.84%/yr vs 24.31%/yr for COPX.L. A 0.52 correlation means they provide meaningful diversification when combined. IMSU.L charges 0.15%/yr vs 0.55%/yr for COPX.L.
Performance
IMSU.L vs. COPX.L - Performance Comparison
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Different Trading Currencies
IMSU.L is traded in GBp, while COPX.L is traded in USD. To make them comparable, the COPX.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, IMSU.L achieves a 10.77% return, which is significantly higher than COPX.L's 2.19% return.
IMSU.L
- 1D
- 0.24%
- 1M
- -4.73%
- 6M
- 3.70%
- YTD
- 10.77%
- 1Y
- 14.35%
- 3Y*
- 6.84%
- 5Y*
- 6.56%
- 10Y*
- —
COPX.L
- 1D
- -2.65%
- 1M
- -19.83%
- 6M
- -8.93%
- YTD
- 2.19%
- 1Y
- 71.76%
- 3Y*
- 24.31%
- 5Y*
- —
- 10Y*
- —
IMSU.L vs. COPX.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
IMSU.L iShares S&P 500 Materials Sector UCITS ETF USD (Acc) | 10.77% | 3.37% | 0.69% | 6.26% | -1.35% | 2.20% |
COPX.L Global X Copper Miners UCITS ETF USD (Acc) | 2.19% | 81.18% | 3.91% | 3.59% | 12.52% | 0.97% |
Correlation
The correlation between IMSU.L and COPX.L is 0.56, 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 | 0.56 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.49 |
Correlation (All Time) Calculated using the full available price history since Nov 22, 2021 | 0.52 |
The correlation between IMSU.L and COPX.L has been stable across timeframes, ranging from 0.49 to 0.56 - a consistent structural relationship.
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Return for Risk
IMSU.L vs. COPX.L — Risk / Return Rank
IMSU.L
COPX.L
IMSU.L vs. COPX.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares S&P 500 Materials Sector UCITS ETF USD (Acc) (IMSU.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.
| IMSU.L | COPX.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.76 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.27 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 2.68 | -1.35 |
| Martin ratioReturn relative to average drawdown | 4.15 | 7.07 | -2.92 |
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Drawdowns
IMSU.L vs. COPX.L - Drawdown Comparison
The maximum IMSU.L drawdown since its inception was -33.22%, smaller than the maximum COPX.L drawdown of -38.53%. Use the drawdown chart below to compare losses from any high point for IMSU.L and COPX.L.
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Drawdown Indicators
| IMSU.L | COPX.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.22% | -38.53% | +5.31% |
Max Drawdown (1Y)Largest decline over 1 year | -10.76% | -26.66% | +15.90% |
Max Drawdown (3Y)Largest decline over 3 years | -25.16% | -38.53% | +13.37% |
Max Drawdown (5Y)Largest decline over 5 years | -25.16% | — | — |
Current DrawdownCurrent decline from peak | -4.97% | -23.25% | +18.28% |
Average DrawdownAverage peak-to-trough decline | -11.10% | -13.71% | +2.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.45% | 10.12% | -6.67% |
Volatility
IMSU.L vs. COPX.L - Volatility Comparison
The current volatility for iShares S&P 500 Materials Sector UCITS ETF USD (Acc) (IMSU.L) is 5.32%, while Global X Copper Miners UCITS ETF USD (Acc) (COPX.L) has a volatility of 12.84%. This indicates that IMSU.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.
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Volatility by Period
| IMSU.L | COPX.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.32% | 12.84% | -7.52% |
Volatility (6M)Calculated over the trailing 6-month period | 12.58% | 36.73% | -24.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.50% | 42.48% | -26.98% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.58% | 34.85% | -13.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.92% | 34.85% | -9.93% |
IMSU.L vs. COPX.L - Expense Ratio Comparison
IMSU.L has a 0.15% expense ratio, which is lower than COPX.L's 0.55% expense ratio.
Dividends
IMSU.L vs. COPX.L - Dividend Comparison
Neither IMSU.L nor COPX.L has paid dividends to shareholders.
Frequently Asked Questions
IMSU.L and COPX.L have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, IMSU.L is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.
IMSU.L is cheaper with a 0.15% expense ratio, compared with 0.55% for COPX.L.
IMSU.L is categorized as Materials, while COPX.L is Copper. IMSU.L tracks MSCI World/Materials NR USD, while COPX.L tracks Solactive Global Copper Miners v2 Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.15% for IMSU.L and 0.55% for COPX.L.
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