NGAS.L vs. COPA.L
NGAS.L (WisdomTree Natural Gas ETF) and COPA.L (WisdomTree Copper) are both exchange-traded funds - NGAS.L is a Commodities fund tracking the Bloomberg Natural Gas Sub Total Return Index, while COPA.L is a Metals fund tracking the Bloomberg Copper Subindex. Both are passively managed. Over the past 10 years, NGAS.L returned -23.35%/yr vs 10.40%/yr for COPA.L. At a 0.07 correlation, their price movements are largely independent. Both charge a 0.49% expense ratio.
Performance
NGAS.L vs. COPA.L - Performance Comparison
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Returns By Period
In the year-to-date period, NGAS.L achieves a -11.49% return, which is significantly lower than COPA.L's 13.63% return. Over the past 10 years, NGAS.L has underperformed COPA.L with an annualized return of -23.35%, while COPA.L has yielded a comparatively higher 10.40% annualized return.
NGAS.L
- 1D
- 2.07%
- 1M
- 4.84%
- YTD
- -11.49%
- 6M
- -29.61%
- 1Y
- -36.85%
- 3Y*
- -25.66%
- 5Y*
- -25.67%
- 10Y*
- -23.35%
COPA.L
- 1D
- -2.52%
- 1M
- 8.92%
- YTD
- 13.63%
- 6M
- 19.65%
- 1Y
- 30.77%
- 3Y*
- 19.39%
- 5Y*
- 7.00%
- 10Y*
- 10.40%
NGAS.L vs. COPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
NGAS.L WisdomTree Natural Gas ETF | -11.49% | -24.72% | -26.18% | -65.28% | 20.27% | 25.42% | -43.27% | -40.74% | 2.93% | -37.77% |
COPA.L WisdomTree Copper | 13.63% | 36.37% | 4.81% | 2.66% | -13.58% | 24.36% | 21.41% | 4.90% | -20.37% | 26.83% |
Correlation
The correlation between NGAS.L and COPA.L is -0.14, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.14 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.01 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2007 | 0.07 |
The correlation between NGAS.L and COPA.L shifts across timeframes, from -0.14 (1 year) to 0.07 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
NGAS.L vs. COPA.L — Risk / Return Rank
NGAS.L
COPA.L
NGAS.L vs. COPA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Natural Gas ETF (NGAS.L) and WisdomTree Copper (COPA.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.
| NGAS.L | COPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.59 | ||
| Sortino ratioReturn per unit of downside risk | -2.00 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.23 | -0.32 |
| Calmar ratioReturn relative to maximum drawdown | -0.77 | 1.21 | -1.98 |
| Martin ratioReturn relative to average drawdown | -1.11 | 2.61 | -3.72 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| NGAS.L | COPA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.66 | 0.92 | -1.59 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.44 | 0.27 | -0.70 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | -0.46 | 0.45 | -0.91 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.59 | 0.09 | -0.68 |
Drawdowns
NGAS.L vs. COPA.L - Drawdown Comparison
The maximum NGAS.L drawdown since its inception was -99.91%, which is greater than COPA.L's maximum drawdown of -67.44%. Use the drawdown chart below to compare losses from any high point for NGAS.L and COPA.L.
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Drawdown Indicators
| NGAS.L | COPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -99.91% | -67.44% | -32.47% |
Max Drawdown (1Y)Largest decline over 1 year | -47.73% | -25.25% | -22.48% |
Max Drawdown (3Y)Largest decline over 3 years | -70.31% | -25.25% | -45.06% |
Max Drawdown (5Y)Largest decline over 5 years | -93.13% | -34.64% | -58.49% |
Max Drawdown (10Y)Largest decline over 10 years | -94.91% | -38.75% | -56.16% |
Current DrawdownCurrent decline from peak | -99.91% | -2.52% | -97.39% |
Average DrawdownAverage peak-to-trough decline | -89.09% | -33.25% | -55.84% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.25% | 11.74% | +21.51% |
Volatility
NGAS.L vs. COPA.L - Volatility Comparison
WisdomTree Natural Gas ETF (NGAS.L) has a higher volatility of 11.19% compared to WisdomTree Copper (COPA.L) at 8.83%. This indicates that NGAS.L's price experiences larger fluctuations and is considered to be riskier than COPA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| NGAS.L | COPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.19% | 8.83% | +2.36% |
Volatility (6M)Calculated over the trailing 6-month period | 47.23% | 18.91% | +28.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.38% | 33.19% | +22.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 59.00% | 26.21% | +32.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 50.65% | 23.29% | +27.36% |
NGAS.L vs. COPA.L - Expense Ratio Comparison
Both NGAS.L and COPA.L have an expense ratio of 0.49%.
Dividends
NGAS.L vs. COPA.L - Dividend Comparison
Neither NGAS.L nor COPA.L has paid dividends to shareholders.
Frequently Asked Questions
NGAS.L and COPA.L have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.49% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
NGAS.L and COPA.L have the same expense ratio: 0.49% per year.
NGAS.L is categorized as Commodities, while COPA.L is Metals. NGAS.L tracks Bloomberg Natural Gas Sub Total Return Index, while COPA.L tracks Bloomberg Copper Subindex.
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