METL vs. COPA
METL (Sprott Active Metals & Miners ETF) and COPA (Themes Copper Miners ETF) are both Commodity Producers Equities funds. METL is actively managed, while COPA is passively managed. Their correlation of 0.84 suggests significant overlap in exposure. METL charges 0.89%/yr vs 0.35%/yr for COPA.
Performance
METL vs. COPA - Performance Comparison
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Returns By Period
In the year-to-date period, METL achieves a 18.34% return, which is significantly lower than COPA's 25.73% return.
METL
- 1D
- -3.81%
- 1M
- 5.71%
- YTD
- 18.34%
- 6M
- 25.03%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
COPA
- 1D
- -2.67%
- 1M
- 19.35%
- YTD
- 25.73%
- 6M
- 38.86%
- 1Y
- 125.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
METL vs. COPA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
METL Sprott Active Metals & Miners ETF | 18.34% | 27.04% |
COPA Themes Copper Miners ETF | 25.73% | 39.54% |
Correlation
The correlation between METL and COPA is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Sep 11, 2025 | 0.84 |
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Return for Risk
METL vs. COPA — Risk / Return Rank
METL
COPA
METL vs. COPA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Active Metals & Miners ETF (METL) and Themes Copper Miners ETF (COPA). 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.
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Sharpe Ratios by Period
| METL | COPA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 3.25 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.72 | 1.53 | +0.19 |
Drawdowns
METL vs. COPA - Drawdown Comparison
The maximum METL drawdown since its inception was -27.39%, smaller than the maximum COPA drawdown of -34.72%. Use the drawdown chart below to compare losses from any high point for METL and COPA.
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Drawdown Indicators
| METL | COPA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.39% | -34.72% | +7.33% |
Max Drawdown (1Y)Largest decline over 1 year | — | -28.05% | — |
Current DrawdownCurrent decline from peak | -10.27% | -2.67% | -7.60% |
Average DrawdownAverage peak-to-trough decline | -8.11% | -9.62% | +1.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 8.39% | — |
Volatility
METL vs. COPA - Volatility Comparison
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Volatility by Period
| METL | COPA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 14.11% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 33.12% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 43.94% | 38.98% | +4.96% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.94% | 38.12% | +5.82% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 43.94% | 38.12% | +5.82% |
METL vs. COPA - Expense Ratio Comparison
METL has a 0.89% expense ratio, which is higher than COPA's 0.35% expense ratio.
Dividends
METL vs. COPA - Dividend Comparison
METL's dividend yield for the trailing twelve months is around 0.84%, less than COPA's 3.39% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
COPA Themes Copper Miners ETF | 3.39% | 4.26% | 1.33% |
METL Sprott Active Metals & Miners ETF | 0.84% | 0.99% | 0.00% |
Frequently Asked Questions
METL and COPA have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, COPA is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
COPA is cheaper with a 0.35% expense ratio, compared with 0.89% for METL.
COPA has the higher dividend yield at 3.39%, compared with 0.84% for METL.
They also come from different issuers: Sprott and Themes. Their fees differ too: 0.89% for METL and 0.35% for COPA.
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