SCOP vs. BWET

Last updated Jul 18, 2026

SCOP (Sprott Physical Copper Trust) and BWET (Breakwave Tanker Shipping ETF) are both exchange-traded funds - SCOP is a Copper fund actively managed by Sprott, while BWET is a Commodities fund tracking the Breakwave Wet Freight Futures Index. SCOP is actively managed, while BWET is passively managed. At a 0.22 correlation, their price movements are largely independent. SCOP charges 1.30%/yr vs 3.50%/yr for BWET.

Performance

SCOP vs. BWET - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Physical Copper Trust (SCOP) and Breakwave Tanker Shipping ETF (BWET). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SCOP

• 1D: -1.66%
• 1M: -13.74%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

BWET

• 1D: -0.72%
• 1M: 7.39%
• 6M: 596.97%
• YTD: 1,081.60%
• 1Y: 1,877.81%
• 3Y*: 126.17%
• 5Y*: —
• 10Y*: —

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

SCOP vs. BWET - Yearly Performance Comparison

	2026 (YTD)
SCOP Sprott Physical Copper Trust	-13.67%
BWET Breakwave Tanker Shipping ETF	30.69%

Correlation

The correlation between SCOP and BWET is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 4, 2026	0.22

Return for Risk

SCOP vs. BWET — Risk / Return Rank

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

SCOP

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

BWET

BWET Risk / Return Rank: 99
BWET Sharpe Ratio Rank: 100
BWET Sortino Ratio Rank: 98
BWET Omega Ratio Rank: 97
BWET Calmar Ratio Rank: 99
BWET Martin Ratio Rank: 99

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.

SCOP vs. BWET - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Copper Trust (SCOP) and Breakwave Tanker Shipping ETF (BWET). 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.

	SCOP	BWET	Difference
Sharpe ratio: Return per unit of total volatility	—	17.90	—
Sortino ratio: Return per unit of downside risk	—	6.15	—
Omega ratio: Gain probability vs. loss probability	—	1.89	—
Calmar ratio: Return relative to maximum drawdown	—	46.66	—
Martin ratio: Return relative to average drawdown	—	175.79	—

Drawdowns

SCOP vs. BWET - Drawdown Comparison

The maximum SCOP drawdown since its inception was -21.04%, smaller than the maximum BWET drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for SCOP and BWET.

Drawdown Indicators

	SCOP	BWET	Difference
Max Drawdown Largest peak-to-trough decline	-21.04%	-56.90%	+35.86%
Max Drawdown (1Y) Largest decline over 1 year	—	-41.22%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-56.81%	—
Current Drawdown Current decline from peak	-20.73%	-11.55%	-9.18%
Average Drawdown Average peak-to-trough decline	-9.30%	-23.64%	+14.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	10.92%	—

Volatility

Volatility by Period

	SCOP	BWET	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	48.55%	—
Volatility (6M) Calculated over the trailing 6-month period	—	96.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	37.99%	107.44%	-69.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.99%	74.60%	-36.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.99%	74.60%	-36.61%

SCOP vs. BWET - Expense Ratio Comparison

SCOP has a 1.30% expense ratio, which is lower than BWET's 3.50% expense ratio.

Dividends

SCOP vs. BWET - Dividend Comparison

Neither SCOP nor BWET has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SCOP and BWET in my portfolio?

SCOP and BWET have a correlation of 0.22, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SCOP or BWET?

On fees, SCOP is cheaper at 1.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SCOP or BWET?

SCOP is cheaper with a 1.30% expense ratio, compared with 3.50% for BWET.

Which ETF pays a higher dividend yield, SCOP or BWET?

SCOP and BWET have nearly identical dividend yields, around 0.00%.

What is the main difference between SCOP and BWET?

SCOP is categorized as Copper, while BWET is Commodities. They also come from different issuers: Sprott and Amplify. Their fees differ too: 1.30% for SCOP and 3.50% for BWET.