MNS.TO vs. COPJ

Last updated Jul 21, 2026

MNS.TO (Royal Canadian Mint - Canadian Silver Reserves) and COPJ (Sprott Junior Copper Miners ETF) are both exchange-traded funds - MNS.TO is a Silver fund tracking the N/A (Physical Bullion), while COPJ is a Copper fund tracking the Nasdaq Sprott Junior Copper Miners Index. Both are passively managed. Over the past 3 years, MNS.TO returned 34.25%/yr vs 37.03%/yr for COPJ. At a 0.45 correlation, their price movements are largely independent. MNS.TO charges 0.45%/yr vs 0.78%/yr for COPJ.

Performance

MNS.TO vs. COPJ - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in Royal Canadian Mint - Canadian Silver Reserves (MNS.TO) and Sprott Junior Copper Miners ETF (COPJ). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

MNS.TO is traded in CAD, while COPJ is traded in USD. To make them comparable, the COPJ values have been converted to CAD using the latest available exchange rates.

Returns By Period

In the year-to-date period, MNS.TO achieves a -26.50% return, which is significantly lower than COPJ's -1.80% return.

MNS.TO

• 1D: 1.58%
• 1M: -8.88%
• 6M: -36.59%
• YTD: -26.50%
• 1Y: 49.13%
• 3Y*: 34.25%
• 5Y*: 19.24%
• 10Y*: —
• ALL TIME*: 11.62%

COPJ

• 1D: 0.10%
• 1M: -11.83%
• 6M: -14.92%
• YTD: -1.80%
• 1Y: 67.88%
• 3Y*: 37.03%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 30.80%

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

MNS.TO vs. COPJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MNS.TO Royal Canadian Mint - Canadian Silver Reserves	-26.50%	161.12%	41.73%	-2.62%
COPJ Sprott Junior Copper Miners ETF	-1.80%	129.64%	20.48%	-6.79%

Correlation

The correlation between MNS.TO and COPJ is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (All Time) Calculated using the full available price history since Feb 2, 2023	0.45

The correlation between MNS.TO and COPJ shifts across timeframes, from 0.45 (all time) to 0.55 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MNS.TO vs. COPJ — Risk / Return Rank

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

MNS.TO

MNS.TO Risk / Return Rank: 31
MNS.TO Sharpe Ratio Rank: 32
MNS.TO Sortino Ratio Rank: 31
MNS.TO Omega Ratio Rank: 38
MNS.TO Calmar Ratio Rank: 28
MNS.TO Martin Ratio Rank: 24

COPJ

COPJ Risk / Return Rank: 50
COPJ Sharpe Ratio Rank: 56
COPJ Sortino Ratio Rank: 49
COPJ Omega Ratio Rank: 52
COPJ Calmar Ratio Rank: 53
COPJ Martin Ratio Rank: 40

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.

MNS.TO vs. COPJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Royal Canadian Mint - Canadian Silver Reserves (MNS.TO) 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.

	MNS.TO	COPJ	Difference
Sharpe ratio: Return per unit of total volatility	0.88	1.49	-0.62
Sortino ratio: Return per unit of downside risk	1.29	1.95	-0.66
Omega ratio: Gain probability vs. loss probability	1.20	1.26	-0.06
Calmar ratio: Return relative to maximum drawdown	1.05	2.17	-1.13
Martin ratio: Return relative to average drawdown	2.18	5.46	-3.28

MNS.TO vs. COPJ - Sharpe Ratio Comparison

The current MNS.TO Sharpe Ratio is 0.88, which is lower than the COPJ Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of MNS.TO and COPJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MNS.TO vs. COPJ - Drawdown Comparison

The maximum MNS.TO drawdown since its inception was -47.17%, which is greater than COPJ's maximum drawdown of -31.38%. Use the drawdown chart below to compare losses from any high point for MNS.TO and COPJ.

Drawdown Indicators

	MNS.TO	COPJ	Difference
Max Drawdown Largest peak-to-trough decline	-47.17%	-31.38%	-15.79%
Max Drawdown (1Y) Largest decline over 1 year	-47.17%	-31.38%	-15.79%
Max Drawdown (3Y) Largest decline over 3 years	-47.17%	-31.38%	-15.79%
Max Drawdown (5Y) Largest decline over 5 years	-47.17%	—	—
Current Drawdown Current decline from peak	-45.42%	-24.18%	-21.24%
Average Drawdown Average peak-to-trough decline	-17.92%	-11.19%	-6.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	22.63%	12.47%	+10.16%

Volatility

MNS.TO vs. COPJ - Volatility Comparison

Royal Canadian Mint - Canadian Silver Reserves (MNS.TO) has a higher volatility of 13.09% compared to Sprott Junior Copper Miners ETF (COPJ) at 12.29%. This indicates that MNS.TO's price experiences larger fluctuations and is considered to be riskier than COPJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MNS.TO	COPJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.09%	12.29%	+0.80%
Volatility (6M) Calculated over the trailing 6-month period	51.67%	39.09%	+12.58%
Volatility (1Y) Calculated over the trailing 1-year period	56.29%	45.76%	+10.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.66%	35.67%	-1.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.23%	35.67%	-4.44%

MNS.TO vs. COPJ - Expense Ratio Comparison

MNS.TO has a 0.45% expense ratio, which is lower than COPJ's 0.78% expense ratio.

Dividends

MNS.TO vs. COPJ - Dividend Comparison

MNS.TO has not paid dividends to shareholders, while COPJ's dividend yield for the trailing twelve months is around 12.06%.

Position	TTM	2025	2024	2023
COPJ Sprott Junior Copper Miners ETF	12.06%	11.57%	11.64%	2.48%
MNS.TO Royal Canadian Mint - Canadian Silver Reserves	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MNS.TO and COPJ in my portfolio?

MNS.TO and COPJ have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MNS.TO or COPJ?

On fees, MNS.TO is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MNS.TO or COPJ?

MNS.TO is cheaper with a 0.45% expense ratio, compared with 0.78% for COPJ.

What is the main difference between MNS.TO and COPJ?

MNS.TO is categorized as Silver, while COPJ is Copper. MNS.TO tracks N/A (Physical Bullion), while COPJ tracks Nasdaq Sprott Junior Copper Miners Index. They also come from different issuers: Royal Canadian Mint and Sprott. Their fees differ too: 0.45% for MNS.TO and 0.78% for COPJ.