SCOP vs. COPA
SCOP (Sprott Physical Copper Trust) and COPA (Themes Copper Miners ETF) are both Copper funds. SCOP is actively managed, while COPA is passively managed. At a 0.43 correlation, their price movements are largely independent. SCOP charges 1.30%/yr vs 0.35%/yr for COPA.
Performance
SCOP vs. COPA - Performance Comparison
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Returns By Period
SCOP
- 1D
- 1.93%
- 1M
- -3.01%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
COPA
- 1D
- -0.03%
- 1M
- -9.55%
- YTD
- 10.45%
- 6M
- 8.07%
- 1Y
- 83.09%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
SCOP vs. COPA - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
SCOP Sprott Physical Copper Trust | -3.17% |
COPA Themes Copper Miners ETF | 1.91% |
Correlation
The correlation between SCOP and COPA is 0.43, 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 | 0.43 |
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Return for Risk
SCOP vs. COPA — Risk / Return Rank
SCOP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
COPA
SCOP vs. COPA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Copper Trust (SCOP) and Themes Copper Miners ETF (COPA). 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 | COPA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.31 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.91 | — |
| Martin ratioReturn relative to average drawdown | — | 9.27 | — |
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Drawdowns
SCOP vs. COPA - Drawdown Comparison
The maximum SCOP drawdown since its inception was -13.22%, smaller than the maximum COPA drawdown of -34.72%. Use the drawdown chart below to compare losses from any high point for SCOP and COPA.
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Drawdown Indicators
| SCOP | COPA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.22% | -34.72% | +21.50% |
Max Drawdown (1Y)Largest decline over 1 year | — | -28.05% | — |
Current DrawdownCurrent decline from peak | -11.09% | -14.49% | +3.40% |
Average DrawdownAverage peak-to-trough decline | -6.54% | -9.58% | +3.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 8.78% | — |
Volatility
SCOP vs. COPA - Volatility Comparison
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Volatility by Period
| SCOP | COPA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 17.49% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 36.25% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 40.87% | 41.92% | -1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 40.87% | 39.29% | +1.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.87% | 39.29% | +1.58% |
SCOP vs. COPA - Expense Ratio Comparison
SCOP has a 1.30% expense ratio, which is higher than COPA's 0.35% expense ratio.
Dividends
SCOP vs. COPA - Dividend Comparison
SCOP has not paid dividends to shareholders, while COPA's dividend yield for the trailing twelve months is around 3.86%.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
COPA Themes Copper Miners ETF | 3.86% | 4.26% | 1.33% |
SCOP Sprott Physical Copper Trust | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
SCOP and COPA have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, COPA is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
COPA is cheaper with a 0.35% expense ratio, compared with 1.30% for SCOP.
COPA has the higher dividend yield at 3.86%, compared with 0.00% for SCOP.
They also come from different issuers: Sprott and Themes. Their fees differ too: 1.30% for SCOP and 0.35% for COPA.
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