SCOP vs. CMDY

Last updated Jun 8, 2026

SCOP (Sprott Physical Copper Trust) and CMDY (iShares Bloomberg Roll Select Commodity Strategy ETF) are both Commodities funds. SCOP is actively managed, while CMDY is passively managed. At a 0.39 correlation, their price movements are largely independent. SCOP charges 1.30%/yr vs 0.28%/yr for CMDY.

Performance

SCOP vs. CMDY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Physical Copper Trust (SCOP) and iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SCOP

• 1D: -6.13%
• 1M: -3.20%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

CMDY

• 1D: -2.20%
• 1M: -3.36%
• YTD: 21.44%
• 6M: 19.87%
• 1Y: 31.30%
• 3Y*: 14.15%
• 5Y*: 10.00%
• 10Y*: —

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

SCOP vs. CMDY - Yearly Performance Comparison

	2026 (YTD)
SCOP Sprott Physical Copper Trust	2.27%
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF	-5.63%

Correlation

The correlation between SCOP and CMDY is 0.39, 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 5, 2026	0.39

Return for Risk

SCOP vs. CMDY — Risk / Return Rank

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

CMDY

CMDY Risk / Return Rank: 65
CMDY Sharpe Ratio Rank: 61
CMDY Sortino Ratio Rank: 55
CMDY Omega Ratio Rank: 61
CMDY Calmar Ratio Rank: 82
CMDY Martin Ratio Rank: 69

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. CMDY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Copper Trust (SCOP) and iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY). 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.

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

Sharpe Ratios by Period

	SCOP	CMDY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.99	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.53	+0.10

Drawdowns

SCOP vs. CMDY - Drawdown Comparison

The maximum SCOP drawdown since its inception was -11.09%, smaller than the maximum CMDY drawdown of -31.19%. Use the drawdown chart below to compare losses from any high point for SCOP and CMDY.

Drawdown Indicators

	SCOP	CMDY	Difference
Max Drawdown Largest peak-to-trough decline	-11.09%	-31.19%	+20.10%
Max Drawdown (1Y) Largest decline over 1 year	—	-7.73%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-10.08%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-26.56%	—
Current Drawdown Current decline from peak	-9.72%	-7.04%	-2.68%
Average Drawdown Average peak-to-trough decline	-4.48%	-13.14%	+8.66%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.62%	—

Volatility

Volatility by Period

	SCOP	CMDY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	5.11%	—
Volatility (6M) Calculated over the trailing 6-month period	—	14.44%	—
Volatility (1Y) Calculated over the trailing 1-year period	45.24%	16.26%	+28.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.24%	15.83%	+29.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	45.24%	14.65%	+30.59%

SCOP vs. CMDY - Expense Ratio Comparison

SCOP has a 1.30% expense ratio, which is higher than CMDY's 0.28% expense ratio.

Dividends

SCOP vs. CMDY - Dividend Comparison

SCOP has not paid dividends to shareholders, while CMDY's dividend yield for the trailing twelve months is around 10.62%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
CMDY iShares Bloomberg Roll Select Commodity Strategy ETF	10.62%	12.89%	4.23%	5.10%	3.98%	16.09%	0.15%	2.21%	1.73%
SCOP Sprott Physical Copper Trust	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SCOP and CMDY in my portfolio?

SCOP and CMDY have a correlation of 0.39, 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 CMDY?

On fees, CMDY is cheaper at 0.28% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SCOP or CMDY?

CMDY is cheaper with a 0.28% expense ratio, compared with 1.30% for SCOP.

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

CMDY has the higher dividend yield at 10.62%, compared with 0.00% for SCOP.

What is the main difference between SCOP and CMDY?

They also come from different issuers: Sprott and iShares. Their fees differ too: 1.30% for SCOP and 0.28% for CMDY.