SLVP vs. COPP

Last updated Jun 3, 2026

SLVP (iShares MSCI Global Silver and Metals Miners ETF) and COPP (Sprott Copper Miners ETF) are both exchange-traded funds - SLVP is a Silver fund tracking the MSCI ACWI Select Silver Miners Investable Market Index, while COPP is a Commodity Producers Equities fund tracking the Nasdaq Sprott Copper Miners Index. Both are passively managed. Over the past year, SLVP returned 126.39% vs 118.85% for COPP. A 0.64 correlation means they provide meaningful diversification when combined. SLVP charges 0.39%/yr vs 0.65%/yr for COPP.

Performance

SLVP vs. COPP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Global Silver and Metals Miners ETF (SLVP) and Sprott Copper Miners ETF (COPP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLVP achieves a 7.79% return, which is significantly lower than COPP's 31.28% return.

SLVP

• 1D: 1.74%
• 1M: 4.23%
• YTD: 7.79%
• 6M: 18.02%
• 1Y: 126.39%
• 3Y*: 54.77%
• 5Y*: 17.51%
• 10Y*: 14.27%

COPP

• 1D: 4.74%
• 1M: 23.51%
• YTD: 31.28%
• 6M: 51.12%
• 1Y: 118.85%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SLVP vs. COPP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SLVP iShares MSCI Global Silver and Metals Miners ETF	7.79%	202.84%	30.35%
COPP Sprott Copper Miners ETF	31.28%	74.02%	4.18%

Correlation

The correlation between SLVP and COPP is 0.67, 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	0.67
Correlation (All Time) Calculated using the full available price history since Mar 7, 2024	0.64

The correlation between SLVP and COPP has been stable across timeframes, ranging from 0.64 to 0.67 - a consistent structural relationship.

SLVP vs. COPP - Sectors Allocation Comparison

Sectors	SLVP	COPP
Basic Materials	100.0%	92.0%
Communication Services	-	0.1%
Consumer Cyclical	-	0.1%
Consumer Defensive	-	0.1%
Energy	-	0.1%
Financial Services	-	0.9%
Healthcare	-	0.1%
Industrials	-	0.1%
Real Estate	-	0.0%
Technology	-	0.1%
Utilities	-	0.1%

Return for Risk

SLVP vs. COPP — Risk / Return Rank

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

SLVP

SLVP Risk / Return Rank: 65
SLVP Sharpe Ratio Rank: 73
SLVP Sortino Ratio Rank: 53
SLVP Omega Ratio Rank: 58
SLVP Calmar Ratio Rank: 80
SLVP Martin Ratio Rank: 60

COPP

COPP Risk / Return Rank: 75
COPP Sharpe Ratio Rank: 84
COPP Sortino Ratio Rank: 67
COPP Omega Ratio Rank: 66
COPP Calmar Ratio Rank: 81
COPP Martin Ratio Rank: 76

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.

SLVP vs. COPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Silver and Metals Miners ETF (SLVP) and Sprott Copper Miners ETF (COPP). 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.

	SLVP	COPP	Difference
Sharpe ratio Return per unit of total volatility	2.41	2.80	-0.39
Sortino ratio Return per unit of downside risk	2.60	3.12	-0.52
Omega ratio Gain probability vs. loss probability	1.36	1.40	-0.05
Calmar ratio Return relative to maximum drawdown	4.19	4.28	-0.09
Martin ratio Return relative to average drawdown	10.75	14.81	-4.06
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SLVP vs. COPP - Sharpe Ratio Comparison

The current SLVP Sharpe Ratio is 2.41, which is comparable to the COPP Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of SLVP and COPP, 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

	SLVP	COPP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.41	2.80	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	1.17	-1.07

Drawdowns

SLVP vs. COPP - Drawdown Comparison

The maximum SLVP drawdown since its inception was -80.47%, which is greater than COPP's maximum drawdown of -44.37%. Use the drawdown chart below to compare losses from any high point for SLVP and COPP.

Drawdown Indicators

	SLVP	COPP	Difference
Max Drawdown Largest peak-to-trough decline	-80.47%	-44.37%	-36.10%
Max Drawdown (1Y) Largest decline over 1 year	-33.57%	-28.91%	-4.66%
Max Drawdown (3Y) Largest decline over 3 years	-33.57%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-54.78%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-62.03%	—	—
Current Drawdown Current decline from peak	-22.25%	0.00%	-22.25%
Average Drawdown Average peak-to-trough decline	-46.82%	-14.04%	-32.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.08%	8.35%	+4.73%

Volatility

SLVP vs. COPP - Volatility Comparison

iShares MSCI Global Silver and Metals Miners ETF (SLVP) has a higher volatility of 16.92% compared to Sprott Copper Miners ETF (COPP) at 15.09%. This indicates that SLVP's price experiences larger fluctuations and is considered to be riskier than COPP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLVP	COPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.92%	15.09%	+1.83%
Volatility (6M) Calculated over the trailing 6-month period	42.90%	36.09%	+6.81%
Volatility (1Y) Calculated over the trailing 1-year period	53.09%	42.70%	+10.39%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	42.73%	40.76%	+1.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	42.22%	40.76%	+1.46%

SLVP vs. COPP - Expense Ratio Comparison

SLVP has a 0.39% expense ratio, which is lower than COPP's 0.65% expense ratio.

Dividends

SLVP vs. COPP - Dividend Comparison

SLVP's dividend yield for the trailing twelve months is around 1.65%, less than COPP's 1.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COPP Sprott Copper Miners ETF	1.80%	2.37%	2.59%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SLVP iShares MSCI Global Silver and Metals Miners ETF	1.65%	1.78%	1.05%	0.88%	0.63%	1.63%	2.39%	2.03%	1.28%	0.85%	2.32%	0.72%

Frequently Asked Questions

Can I hold both SLVP and COPP in my portfolio?

SLVP and COPP have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLVP or COPP?

SLVP has higher volatility (16.92%) compared to COPP (15.09%). In terms of maximum drawdown, SLVP dropped -80.47% vs COPP's -44.37%.

Which ETF is better, SLVP or COPP?

On 1-year performance, SLVP leads with 126.39% vs 118.85% for COPP. On fees, SLVP is cheaper at 0.39% per year. On volatility, COPP has been the lower-risk option at 15.09%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SLVP or COPP?

Over the 1-year period, SLVP has performed better with a 126.39% return vs 118.85%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SLVP or COPP?

SLVP is cheaper with a 0.39% expense ratio, compared with 0.65% for COPP.

Which ETF pays a higher dividend yield, SLVP or COPP?

COPP has the higher dividend yield at 1.80%, compared with 1.65% for SLVP.

What is the main difference between SLVP and COPP?

SLVP is categorized as Silver, while COPP is Commodity Producers Equities. SLVP tracks MSCI ACWI Select Silver Miners Investable Market Index, while COPP tracks Nasdaq Sprott Copper Miners Index. They also come from different issuers: iShares and Sprott. Their fees differ too: 0.39% for SLVP and 0.65% for COPP.

Which has better risk-adjusted returns?

COPP currently has the higher Sharpe Ratio (2.80 vs 2.41), 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.