SCOP vs. METL

Last updated Jun 27, 2026

SCOP (Sprott Physical Copper Trust) and METL (Sprott Active Metals & Miners ETF) are both exchange-traded funds - SCOP is a Copper fund actively managed by Sprott, while METL is a Natural Resources fund actively managed by Sprott. Both are actively managed. At a 0.38 correlation, their price movements are largely independent. SCOP charges 1.30%/yr vs 0.89%/yr for METL.

Performance

SCOP vs. METL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Physical Copper Trust (SCOP) and Sprott Active Metals & Miners ETF (METL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SCOP

• 1D: 1.93%
• 1M: -3.01%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

METL

• 1D: -0.09%
• 1M: -13.66%
• YTD: 1.98%
• 6M: -2.67%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SCOP vs. METL - Yearly Performance Comparison

	2026 (YTD)
SCOP Sprott Physical Copper Trust	-3.17%
METL Sprott Active Metals & Miners ETF	-10.65%

Correlation

The correlation between SCOP and METL is 0.38, 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	0.38

Return for Risk

SCOP vs. METL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Physical Copper Trust (SCOP) and Sprott Active Metals & Miners ETF (METL). 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.

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

Drawdowns

SCOP vs. METL - Drawdown Comparison

The maximum SCOP drawdown since its inception was -13.22%, smaller than the maximum METL drawdown of -27.39%. Use the drawdown chart below to compare losses from any high point for SCOP and METL.

Drawdown Indicators

	SCOP	METL	Difference
Max Drawdown Largest peak-to-trough decline	-13.22%	-27.39%	+14.17%
Current Drawdown Current decline from peak	-11.09%	-22.67%	+11.58%
Average Drawdown Average peak-to-trough decline	-6.54%	-8.85%	+2.31%

Volatility

Volatility by Period

	SCOP	METL	Difference
Volatility (1Y) Calculated over the trailing 1-year period	40.87%	44.89%	-4.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.87%	44.89%	-4.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	40.87%	44.89%	-4.02%

SCOP vs. METL - Expense Ratio Comparison

SCOP has a 1.30% expense ratio, which is higher than METL's 0.89% expense ratio.

Dividends

SCOP vs. METL - Dividend Comparison

SCOP has not paid dividends to shareholders, while METL's dividend yield for the trailing twelve months is around 0.97%.

Position	TTM	2025
METL Sprott Active Metals & Miners ETF	0.97%	0.99%
SCOP Sprott Physical Copper Trust	0.00%	0.00%

Frequently Asked Questions

Can I hold both SCOP and METL in my portfolio?

SCOP and METL have a correlation of 0.38, 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 METL?

On fees, METL is cheaper at 0.89% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SCOP or METL?

METL is cheaper with a 0.89% expense ratio, compared with 1.30% for SCOP.

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

METL has the higher dividend yield at 0.97%, compared with 0.00% for SCOP.

What is the main difference between SCOP and METL?

SCOP is categorized as Copper, while METL is Natural Resources. Their fees differ too: 1.30% for SCOP and 0.89% for METL.