SGDM vs. COPJ

Last updated Jun 5, 2026

SGDM (Sprott Gold Miners ETF) and COPJ (Sprott Junior Copper Miners ETF) are both exchange-traded funds - SGDM is a Materials fund tracking the Solactive Gold Miners Custom Factors Index, while COPJ is a Commodity Producers Equities fund tracking the Nasdaq Sprott Junior Copper Miners Index. Both are passively managed. Over the past 3 years, SGDM returned 39.67%/yr vs 46.22%/yr for COPJ. A 0.58 correlation means they provide meaningful diversification when combined. SGDM charges 0.50%/yr vs 0.78%/yr for COPJ.

Performance

SGDM vs. COPJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Sprott Gold Miners ETF (SGDM) and Sprott Junior Copper Miners ETF (COPJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SGDM achieves a 3.12% return, which is significantly lower than COPJ's 15.47% return.

SGDM

• 1D: 1.69%
• 1M: 1.80%
• YTD: 3.12%
• 6M: 8.86%
• 1Y: 59.22%
• 3Y*: 39.67%
• 5Y*: 19.03%
• 10Y*: 12.76%

COPJ

• 1D: 0.22%
• 1M: 14.83%
• YTD: 15.47%
• 6M: 29.69%
• 1Y: 121.26%
• 3Y*: 46.22%
• 5Y*: —
• 10Y*: —

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

SGDM vs. COPJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SGDM Sprott Gold Miners ETF	3.12%	153.46%	12.14%	-7.62%
COPJ Sprott Junior Copper Miners ETF	15.47%	140.63%	11.07%	-5.30%

Correlation

The correlation between SGDM and COPJ is 0.58, 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	0.58
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (All Time) Calculated using the full available price history since Feb 3, 2023	0.58

The correlation between SGDM and COPJ has been stable across timeframes, ranging from 0.58 to 0.59 - a consistent structural relationship.

SGDM vs. COPJ - Sectors Allocation Comparison

Sectors	SGDM	COPJ
Basic Materials	100.0%	100.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	3.6%
Utilities	-	-

Return for Risk

SGDM vs. COPJ — Risk / Return Rank

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

SGDM

SGDM Risk / Return Rank: 37
SGDM Sharpe Ratio Rank: 38
SGDM Sortino Ratio Rank: 32
SGDM Omega Ratio Rank: 38
SGDM Calmar Ratio Rank: 41
SGDM Martin Ratio Rank: 34

COPJ

COPJ Risk / Return Rank: 74
COPJ Sharpe Ratio Rank: 88
COPJ Sortino Ratio Rank: 69
COPJ Omega Ratio Rank: 74
COPJ Calmar Ratio Rank: 76
COPJ Martin Ratio Rank: 62

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.

SGDM vs. COPJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Sprott Gold Miners ETF (SGDM) and Sprott Junior Copper Miners ETF (COPJ). 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.

	SGDM	COPJ	Difference
Sharpe ratio: Return per unit of total volatility	1.33	2.89	-1.57
Sortino ratio: Return per unit of downside risk	1.71	3.10	-1.39
Omega ratio: Gain probability vs. loss probability	1.24	1.43	-0.19
Calmar ratio: Return relative to maximum drawdown	1.98	3.78	-1.80
Martin ratio: Return relative to average drawdown	4.98	11.02	-6.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SGDM vs. COPJ - Sharpe Ratio Comparison

The current SGDM Sharpe Ratio is 1.33, which is lower than the COPJ Sharpe Ratio of 2.89. The chart below compares the historical Sharpe Ratios of SGDM and COPJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	SGDM	COPJ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.33	2.89	-1.57
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.35	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.27	1.10	-0.83

Drawdowns

SGDM vs. COPJ - Drawdown Comparison

The maximum SGDM drawdown since its inception was -54.95%, which is greater than COPJ's maximum drawdown of -32.28%. Use the drawdown chart below to compare losses from any high point for SGDM and COPJ.

Drawdown Indicators

	SGDM	COPJ	Difference
Max Drawdown Largest peak-to-trough decline	-54.95%	-32.28%	-22.67%
Max Drawdown (1Y) Largest decline over 1 year	-30.04%	-32.28%	+2.24%
Max Drawdown (3Y) Largest decline over 3 years	-30.04%	-32.28%	+2.24%
Max Drawdown (5Y) Largest decline over 5 years	-45.06%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-49.69%	—	—
Current Drawdown Current decline from peak	-24.68%	-11.73%	-12.95%
Average Drawdown Average peak-to-trough decline	-25.46%	-11.86%	-13.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.94%	11.05%	+0.89%

Volatility

SGDM vs. COPJ - Volatility Comparison

The current volatility for Sprott Gold Miners ETF (SGDM) is 14.53%, while Sprott Junior Copper Miners ETF (COPJ) has a volatility of 15.38%. This indicates that SGDM experiences smaller price fluctuations and is considered to be less risky than COPJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGDM	COPJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.53%	15.38%	-0.85%
Volatility (6M) Calculated over the trailing 6-month period	36.91%	35.19%	+1.72%
Volatility (1Y) Calculated over the trailing 1-year period	44.86%	42.15%	+2.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	35.78%	34.76%	+1.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	36.81%	34.76%	+2.05%

SGDM vs. COPJ - Expense Ratio Comparison

SGDM has a 0.50% expense ratio, which is lower than COPJ's 0.78% expense ratio.

Dividends

SGDM vs. COPJ - Dividend Comparison

SGDM's dividend yield for the trailing twelve months is around 1.01%, less than COPJ's 10.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COPJ Sprott Junior Copper Miners ETF	10.02%	11.57%	11.64%	2.48%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SGDM Sprott Gold Miners ETF	1.01%	1.04%	1.04%	1.39%	1.42%	1.33%	0.30%	0.25%	0.50%	0.58%	0.02%	1.47%

Frequently Asked Questions

Can I hold both SGDM and COPJ in my portfolio?

SGDM and COPJ have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGDM or COPJ?

COPJ has higher volatility (15.38%) compared to SGDM (14.53%). In terms of maximum drawdown, SGDM dropped -54.95% vs COPJ's -32.28%.

Which ETF is better, SGDM or COPJ?

On 3-year performance, COPJ leads with 46.22% vs 39.67% for SGDM. On fees, SGDM is cheaper at 0.50% per year. On volatility, SGDM has been the lower-risk option at 14.53%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SGDM or COPJ?

Over the 3-year period, COPJ has performed better with a 46.22% return vs 39.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SGDM or COPJ?

SGDM is cheaper with a 0.50% expense ratio, compared with 0.78% for COPJ.

Which ETF pays a higher dividend yield, SGDM or COPJ?

COPJ has the higher dividend yield at 10.02%, compared with 1.01% for SGDM.

What is the main difference between SGDM and COPJ?

SGDM is categorized as Materials, while COPJ is Commodity Producers Equities. SGDM tracks Solactive Gold Miners Custom Factors Index, while COPJ tracks Nasdaq Sprott Junior Copper Miners Index. Their fees differ too: 0.50% for SGDM and 0.78% for COPJ.

Which has better risk-adjusted returns?

COPJ currently has the higher Sharpe Ratio (2.89 vs 1.33), 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.