PSLV vs. COPP
PSLV (Sprott Physical Silver Trust) and COPP (Sprott Copper Miners ETF) are both exchange-traded funds - PSLV is a Silver fund tracking the No Index (Physical Silver), while COPP is a Commodity Producers Equities fund tracking the Nasdaq Sprott Copper Miners Index. Both are passively managed. Over the past year, PSLV returned 102.24% vs 106.38% for COPP. A 0.61 correlation means they provide meaningful diversification when combined. PSLV charges 0.51%/yr vs 0.65%/yr for COPP.
Performance
PSLV vs. COPP - Performance Comparison
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Returns By Period
In the year-to-date period, PSLV achieves a -0.89% return, which is significantly lower than COPP's 26.17% return.
PSLV
- 1D
- 0.90%
- 1M
- -0.64%
- YTD
- -0.89%
- 6M
- 23.11%
- 1Y
- 102.24%
- 3Y*
- 42.33%
- 5Y*
- 18.65%
- 10Y*
- 14.02%
COPP
- 1D
- -0.41%
- 1M
- 20.00%
- YTD
- 26.17%
- 6M
- 39.41%
- 1Y
- 106.38%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PSLV vs. COPP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
PSLV Sprott Physical Silver Trust | -0.89% | 145.08% | 19.73% |
COPP Sprott Copper Miners ETF | 26.17% | 74.02% | 4.18% |
Correlation
The correlation between PSLV and COPP is 0.63, 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 | 0.63 |
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024 | 0.61 |
The correlation between PSLV and COPP has been stable across timeframes, ranging from 0.61 to 0.63 - a consistent structural relationship.
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Return for Risk
PSLV vs. COPP — Risk / Return Rank
PSLV
COPP
PSLV vs. COPP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Silver Trust (PSLV) and Sprott Copper Miners ETF (COPP). 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.
| PSLV | COPP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -0.90 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.37 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 3.70 | -1.17 |
| Martin ratioReturn relative to average drawdown | 5.58 | 12.77 | -7.19 |
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
| PSLV | COPP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.76 | 2.50 | -0.74 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.45 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.17 | 1.10 | -0.93 |
Drawdowns
PSLV vs. COPP - Drawdown Comparison
The maximum PSLV drawdown since its inception was -79.38%, which is greater than COPP's maximum drawdown of -44.37%. Use the drawdown chart below to compare losses from any high point for PSLV and COPP.
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Drawdown Indicators
| PSLV | COPP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.38% | -44.37% | -35.01% |
Max Drawdown (1Y)Largest decline over 1 year | -40.65% | -28.91% | -11.74% |
Max Drawdown (3Y)Largest decline over 3 years | -40.65% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -40.65% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -42.79% | — | — |
Current DrawdownCurrent decline from peak | -35.53% | -3.89% | -31.64% |
Average DrawdownAverage peak-to-trough decline | -58.15% | -14.00% | -44.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.38% | 8.36% | +10.02% |
Volatility
PSLV vs. COPP - Volatility Comparison
Sprott Physical Silver Trust (PSLV) has a higher volatility of 16.60% compared to Sprott Copper Miners ETF (COPP) at 15.24%. This indicates that PSLV's price experiences larger fluctuations and is considered to be riskier than COPP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PSLV | COPP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.60% | 15.24% | +1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 57.34% | 36.29% | +21.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.49% | 42.84% | +15.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.64% | 40.77% | -5.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.14% | 40.77% | -9.63% |
PSLV vs. COPP - Expense Ratio Comparison
PSLV has a 0.51% expense ratio, which is lower than COPP's 0.65% expense ratio.
Dividends
PSLV vs. COPP - Dividend Comparison
PSLV has not paid dividends to shareholders, while COPP's dividend yield for the trailing twelve months is around 1.88%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
COPP Sprott Copper Miners ETF | 1.88% | 2.37% | 2.59% |
PSLV Sprott Physical Silver Trust | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
PSLV and COPP have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PSLV has higher volatility (16.60%) compared to COPP (15.24%). In terms of maximum drawdown, PSLV dropped -79.38% vs COPP's -44.37%.
On 1-year performance, COPP leads with 106.38% vs 102.24% for PSLV. On fees, PSLV is cheaper at 0.51% per year. On volatility, COPP has been the lower-risk option at 15.24%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, COPP has performed better with a 106.38% return vs 102.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
PSLV is cheaper with a 0.51% expense ratio, compared with 0.65% for COPP.
COPP has the higher dividend yield at 1.88%, compared with 0.00% for PSLV.
PSLV is categorized as Silver, while COPP is Commodity Producers Equities. PSLV tracks No Index (Physical Silver), while COPP tracks Nasdaq Sprott Copper Miners Index. Their fees differ too: 0.51% for PSLV and 0.65% for COPP.
COPP currently has the higher Sharpe Ratio (2.50 vs 1.76), 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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