SLVR.L vs. COPA.L
SLVR.L (WisdomTree Silver) and COPA.L (WisdomTree Copper) are both exchange-traded funds - SLVR.L is a Silver fund tracking the Bloomberg Silver Subindex, while COPA.L is a Metals fund tracking the Bloomberg Copper Subindex. Both are passively managed. Over the past 10 years, SLVR.L returned 13.51%/yr vs 10.40%/yr for COPA.L. At a 0.44 correlation, their price movements are largely independent. Both charge a 0.49% expense ratio.
Performance
SLVR.L vs. COPA.L - Performance Comparison
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Returns By Period
In the year-to-date period, SLVR.L achieves a 3.18% return, which is significantly lower than COPA.L's 13.63% return. Over the past 10 years, SLVR.L has outperformed COPA.L with an annualized return of 13.51%, while COPA.L has yielded a comparatively lower 10.40% annualized return.
SLVR.L
- 1D
- -3.39%
- 1M
- -3.55%
- YTD
- 3.18%
- 6M
- 24.16%
- 1Y
- 108.17%
- 3Y*
- 42.86%
- 5Y*
- 19.09%
- 10Y*
- 13.51%
COPA.L
- 1D
- -2.52%
- 1M
- 8.92%
- YTD
- 13.63%
- 6M
- 19.65%
- 1Y
- 30.77%
- 3Y*
- 19.39%
- 5Y*
- 7.00%
- 10Y*
- 10.40%
SLVR.L vs. COPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SLVR.L WisdomTree Silver | 3.18% | 136.72% | 20.15% | -2.57% | 2.25% | -14.66% | 40.61% | 13.97% | -10.13% | 1.46% |
COPA.L WisdomTree Copper | 13.63% | 36.37% | 4.81% | 2.66% | -13.58% | 24.36% | 21.41% | 4.90% | -20.37% | 26.83% |
Correlation
The correlation between SLVR.L and COPA.L is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.51 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.43 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2007 | 0.44 |
The correlation between SLVR.L and COPA.L shifts across timeframes, from 0.43 (10 years) to 0.61 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SLVR.L vs. COPA.L — Risk / Return Rank
SLVR.L
COPA.L
SLVR.L vs. COPA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Silver (SLVR.L) and WisdomTree Copper (COPA.L). 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.
| SLVR.L | COPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.23 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | 1.21 | +1.43 |
| Martin ratioReturn relative to average drawdown | 5.79 | 2.61 | +3.18 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SLVR.L | COPA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.83 | 0.92 | +0.91 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.52 | 0.27 | +0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 0.45 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.22 | 0.09 | +0.13 |
Drawdowns
SLVR.L vs. COPA.L - Drawdown Comparison
The maximum SLVR.L drawdown since its inception was -79.93%, which is greater than COPA.L's maximum drawdown of -67.44%. Use the drawdown chart below to compare losses from any high point for SLVR.L and COPA.L.
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Drawdown Indicators
| SLVR.L | COPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -79.93% | -67.44% | -12.49% |
Max Drawdown (1Y)Largest decline over 1 year | -40.74% | -25.25% | -15.49% |
Max Drawdown (3Y)Largest decline over 3 years | -40.74% | -25.25% | -15.49% |
Max Drawdown (5Y)Largest decline over 5 years | -40.74% | -34.64% | -6.10% |
Max Drawdown (10Y)Largest decline over 10 years | -46.90% | -38.75% | -8.15% |
Current DrawdownCurrent decline from peak | -35.69% | -2.52% | -33.17% |
Average DrawdownAverage peak-to-trough decline | -49.44% | -33.25% | -16.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.61% | 11.74% | +6.87% |
Volatility
SLVR.L vs. COPA.L - Volatility Comparison
WisdomTree Silver (SLVR.L) has a higher volatility of 17.95% compared to WisdomTree Copper (COPA.L) at 8.83%. This indicates that SLVR.L's price experiences larger fluctuations and is considered to be riskier than COPA.L based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SLVR.L | COPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 17.95% | 8.83% | +9.12% |
Volatility (6M)Calculated over the trailing 6-month period | 56.26% | 18.91% | +37.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 58.81% | 33.19% | +25.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 36.81% | 26.21% | +10.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 31.96% | 23.29% | +8.67% |
SLVR.L vs. COPA.L - Expense Ratio Comparison
Both SLVR.L and COPA.L have an expense ratio of 0.49%.
Dividends
SLVR.L vs. COPA.L - Dividend Comparison
Neither SLVR.L nor COPA.L has paid dividends to shareholders.
Frequently Asked Questions
SLVR.L and COPA.L have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.49% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
SLVR.L and COPA.L have the same expense ratio: 0.49% per year.
SLVR.L is categorized as Silver, while COPA.L is Metals. SLVR.L tracks Bloomberg Silver Subindex, while COPA.L tracks Bloomberg Copper Subindex.
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