PHSP.L vs. COPA.L
PHSP.L (WisdomTree Physical Silver) and COPA.L (WisdomTree Copper) are both exchange-traded funds - PHSP.L is a Silver fund tracking the LBMA Silver Price, while COPA.L is a Metals fund tracking the Bloomberg Copper Subindex. Both are passively managed. Over the past 10 years, PHSP.L returned 16.46%/yr vs 11.12%/yr for COPA.L. At a 0.36 correlation, their price movements are largely independent. Both charge a 0.49% expense ratio.
Performance
PHSP.L vs. COPA.L - Performance Comparison
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Different Trading Currencies
PHSP.L is traded in GBp, while COPA.L is traded in USD. To make them comparable, the COPA.L values have been converted to GBp using the latest available exchange rates.
Returns By Period
In the year-to-date period, PHSP.L achieves a 2.97% return, which is significantly lower than COPA.L's 14.05% return. Over the past 10 years, PHSP.L has outperformed COPA.L with an annualized return of 16.46%, while COPA.L has yielded a comparatively lower 11.12% annualized return.
PHSP.L
- 1D
- 0.46%
- 1M
- 1.03%
- YTD
- 2.97%
- 6M
- 28.18%
- 1Y
- 115.25%
- 3Y*
- 41.79%
- 5Y*
- 22.23%
- 10Y*
- 16.46%
COPA.L
- 1D
- 0.00%
- 1M
- 9.70%
- YTD
- 14.05%
- 6M
- 19.87%
- 1Y
- 31.14%
- 3Y*
- 15.98%
- 5Y*
- 8.15%
- 10Y*
- 11.12%
PHSP.L vs. COPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PHSP.L WisdomTree Physical Silver | 2.97% | 129.68% | 22.85% | -6.51% | 15.50% | -12.11% | 40.85% | 12.57% | -3.55% | -5.67% |
COPA.L WisdomTree Copper | 14.05% | 26.65% | 6.64% | -2.47% | -3.31% | 25.53% | 17.85% | 0.91% | -15.65% | 15.87% |
Correlation
The correlation between PHSP.L and COPA.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 | 0.48 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.42 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Nov 6, 2007 | 0.36 |
The correlation between PHSP.L and COPA.L shifts across timeframes, from 0.36 (all time) to 0.56 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
PHSP.L vs. COPA.L — Risk / Return Rank
PHSP.L
COPA.L
PHSP.L vs. COPA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Physical Silver (PHSP.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.
| PHSP.L | COPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.16 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.24 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.96 | 1.30 | +1.66 |
| Martin ratioReturn relative to average drawdown | 6.48 | 2.87 | +3.61 |
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
| PHSP.L | COPA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | 0.96 | +1.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.67 | 0.33 | +0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.49 | +0.07 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.14 | +0.23 |
Drawdowns
PHSP.L vs. COPA.L - Drawdown Comparison
The maximum PHSP.L drawdown since its inception was -70.01%, which is greater than COPA.L's maximum drawdown of -58.32%. Use the drawdown chart below to compare losses from any high point for PHSP.L and COPA.L.
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Drawdown Indicators
| PHSP.L | COPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -70.01% | -58.32% | -11.69% |
Max Drawdown (1Y)Largest decline over 1 year | -38.75% | -23.82% | -14.93% |
Max Drawdown (3Y)Largest decline over 3 years | -38.75% | -23.82% | -14.93% |
Max Drawdown (5Y)Largest decline over 5 years | -38.75% | -26.80% | -11.95% |
Max Drawdown (10Y)Largest decline over 10 years | -38.75% | -31.28% | -7.47% |
Current DrawdownCurrent decline from peak | -33.72% | -2.27% | -31.45% |
Average DrawdownAverage peak-to-trough decline | -40.07% | -25.46% | -14.61% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.73% | 10.84% | +6.89% |
Volatility
PHSP.L vs. COPA.L - Volatility Comparison
WisdomTree Physical Silver (PHSP.L) has a higher volatility of 16.28% compared to WisdomTree Copper (COPA.L) at 8.17%. This indicates that PHSP.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
| PHSP.L | COPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.28% | 8.17% | +8.11% |
Volatility (6M)Calculated over the trailing 6-month period | 51.17% | 17.79% | +33.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 54.02% | 32.35% | +21.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 32.98% | 24.65% | +8.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.24% | 22.69% | +6.55% |
PHSP.L vs. COPA.L - Expense Ratio Comparison
Both PHSP.L and COPA.L have an expense ratio of 0.49%.
Dividends
PHSP.L vs. COPA.L - Dividend Comparison
Neither PHSP.L nor COPA.L has paid dividends to shareholders.
Frequently Asked Questions
PHSP.L and COPA.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.
Both ETFs have the same 0.49% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
PHSP.L and COPA.L have the same expense ratio: 0.49% per year.
PHSP.L is categorized as Silver, while COPA.L is Metals. PHSP.L tracks LBMA Silver Price, while COPA.L tracks Bloomberg Copper Subindex.
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