IVOL vs. COPJ
IVOL (Quadratic Interest Rate Volatility & Inflation Hedge ETF) and COPJ (Sprott Junior Copper Miners ETF) are both exchange-traded funds - IVOL is a Inflation-Protected Bonds fund actively managed by CICC, while COPJ is a Copper fund tracking the Nasdaq Sprott Junior Copper Miners Index. IVOL is actively managed, while COPJ is passively managed. Over the past 3 years, IVOL returned -1.90%/yr vs 34.70%/yr for COPJ. Their -0.00 correlation means they have often moved in opposite directions in the past. IVOL charges 0.99%/yr vs 0.78%/yr for COPJ.
Performance
IVOL vs. COPJ - Performance Comparison
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Returns By Period
IVOL
- 1D
- 0.17%
- 1M
- 0.36%
- 6M
- -6.64%
- YTD
- -7.33%
- 1Y
- -7.62%
- 3Y*
- -1.90%
- 5Y*
- -5.87%
- 10Y*
- —
- ALL TIME*
- -1.42%
COPJ
- 1D
- -0.83%
- 1M
- -1.50%
- 6M
- -14.72%
- YTD
- 0.00%
- 1Y
- 79.19%
- 3Y*
- 34.70%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 30.01%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.16M | $2.22M | $3.49M | |
| $1.46M | $1.22M | $2.07M |
IVOL vs. COPJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | -7.33% | 11.97% | -11.07% | -3.89% |
COPJ Sprott Junior Copper Miners ETF | 0.00% | 140.63% | 11.07% | -6.47% |
Correlation
The correlation between IVOL and COPJ is 0.02, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.02 |
Correlation (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023 | -0.00 |
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Return for Risk
IVOL vs. COPJ — Risk / Return Rank
IVOL
COPJ
IVOL vs. COPJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) and Sprott Junior Copper Miners ETF (COPJ). 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.
| IVOL | COPJ | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.69 | ||
| Sortino ratioReturn per unit of downside risk | -3.45 | ||
| Omega ratioGain probability vs. loss probability | 0.86 | 1.29 | -0.43 |
| Calmar ratioReturn relative to maximum drawdown | -0.51 | 2.53 | -3.03 |
| Martin ratioReturn relative to average drawdown | -0.99 | 5.76 | -6.75 |
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Drawdowns
IVOL vs. COPJ - Drawdown Comparison
The maximum IVOL drawdown since its inception was -31.16%, roughly equal to the maximum COPJ drawdown of -32.28%. Use the drawdown chart below to compare losses from any high point for IVOL and COPJ.
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Drawdown Indicators
| IVOL | COPJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.16% | -32.28% | +1.12% |
Max Drawdown (1Y)Largest decline over 1 year | -12.17% | -32.28% | +20.11% |
Max Drawdown (3Y)Largest decline over 3 years | -14.48% | -32.28% | +17.80% |
Max Drawdown (5Y)Largest decline over 5 years | -30.07% | — | — |
Current DrawdownCurrent decline from peak | -27.12% | -23.56% | -3.56% |
Average DrawdownAverage peak-to-trough decline | -13.60% | -12.38% | -1.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.22% | 14.14% | -7.92% |
Volatility
IVOL vs. COPJ - Volatility Comparison
The current volatility for Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) is 1.74%, while Sprott Junior Copper Miners ETF (COPJ) has a volatility of 12.84%. This indicates that IVOL experiences smaller price fluctuations and is considered to be less risky than COPJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IVOL | COPJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.74% | 12.84% | -11.10% |
Volatility (6M)Calculated over the trailing 6-month period | 4.95% | 39.35% | -34.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.74% | 46.09% | -39.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.85% | 35.86% | -23.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.91% | 35.86% | -23.95% |
IVOL vs. COPJ - Expense Ratio Comparison
IVOL has a 0.99% expense ratio, which is higher than COPJ's 0.78% expense ratio.
Dividends
IVOL vs. COPJ - Dividend Comparison
IVOL's dividend yield for the trailing twelve months is around 3.88%, less than COPJ's 11.57% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
COPJ Sprott Junior Copper Miners ETF | 11.57% | 11.57% | 11.64% | 2.48% | 0.00% | 0.00% | 0.00% | 0.00% |
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | 3.88% | 3.61% | 3.83% | 3.73% | 3.92% | 3.93% | 3.44% | 2.02% |
Frequently Asked Questions
IVOL and COPJ have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
COPJ has higher volatility (12.84%) compared to IVOL (1.74%). In terms of maximum drawdown, IVOL dropped -31.16% vs COPJ's -32.28%.
On 3-year performance, COPJ leads with 34.70% vs -1.90% for IVOL. On fees, COPJ is cheaper at 0.78% per year. On volatility, IVOL has been the lower-risk option at 1.74%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, COPJ has performed better with a 34.70% return vs -1.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COPJ is cheaper with a 0.78% expense ratio, compared with 0.99% for IVOL.
COPJ has the higher dividend yield at 11.57%, compared with 3.88% for IVOL.
IVOL is categorized as Inflation-Protected Bonds, while COPJ is Copper. They also come from different issuers: CICC and Sprott. Their fees differ too: 0.99% for IVOL and 0.78% for COPJ.
COPJ currently has the higher Sharpe Ratio (1.77 vs -0.92), 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.
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