TDGB.L vs. COPX

Last updated Jun 13, 2026

TDGB.L (VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF) and COPX (Global X Copper Miners ETF) are both exchange-traded funds - TDGB.L is a Global Equities fund tracking the Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index, while COPX is a Materials fund tracking the Solactive Global Copper Miners Total Return Index. Both are passively managed. Over the past 10 years, TDGB.L returned 10.61%/yr vs 22.49%/yr for COPX. At a 0.37 correlation, their price movements are largely independent. TDGB.L charges 0.38%/yr vs 0.65%/yr for COPX.

Performance

TDGB.L vs. COPX - Performance Comparison

The chart below illustrates the hypothetical performance of a £10,000 investment in VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L) and Global X Copper Miners ETF (COPX). The values are adjusted to include any dividend payments, if applicable.

Different Trading Currencies

TDGB.L is traded in GBP, while COPX is traded in USD. To make them comparable, the COPX values have been converted to GBP using the latest available exchange rates.

Returns By Period

In the year-to-date period, TDGB.L achieves a 10.34% return, which is significantly lower than COPX's 20.36% return. Over the past 10 years, TDGB.L has underperformed COPX with an annualized return of 10.61%, while COPX has yielded a comparatively higher 22.49% annualized return.

TDGB.L

• 1D: 0.29%
• 1M: 2.00%
• YTD: 10.34%
• 6M: 11.70%
• 1Y: 29.39%
• 3Y*: 20.39%
• 5Y*: 17.98%
• 10Y*: 10.61%

COPX

• 1D: 3.47%
• 1M: -5.64%
• YTD: 20.36%
• 6M: 28.81%
• 1Y: 106.99%
• 3Y*: 31.26%
• 5Y*: 20.52%
• 10Y*: 22.49%

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

TDGB.L vs. COPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TDGB.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	10.34%	30.90%	10.66%	9.04%	22.49%	19.59%	-5.61%	3.88%	-7.98%	2.87%
COPX Global X Copper Miners ETF	20.36%	79.71%	5.38%	2.96%	11.04%	24.55%	47.20%	8.20%	-27.23%	26.91%

Correlation

The correlation between TDGB.L and COPX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.35
Correlation (10Y) Calculated over the trailing 10-year period	0.37
Correlation (All Time) Calculated using the full available price history since May 23, 2016	0.37

Over the past year, the correlation between TDGB.L and COPX has dropped to 0.13 - well below their long-term average of 0.37, suggesting their price drivers have been diverging.

TDGB.L vs. COPX - Sectors Allocation Comparison

Sectors	TDGB.L	COPX
Financial Services	31.7%	-
Energy	19.7%	-
Healthcare	14.4%	-
Consumer Defensive	10.1%	-
Communication Services	8.7%	-
Utilities	6.2%	-
Industrials	3.9%	3.7%
Consumer Cyclical	3.8%	-
Basic Materials	1.2%	96.3%
Technology	0.3%	-
Real Estate	0.0%	-

Return for Risk

TDGB.L vs. COPX — Risk / Return Rank

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

TDGB.L

TDGB.L Risk / Return Rank: 94
TDGB.L Sharpe Ratio Rank: 94
TDGB.L Sortino Ratio Rank: 94
TDGB.L Omega Ratio Rank: 93
TDGB.L Calmar Ratio Rank: 94
TDGB.L Martin Ratio Rank: 93

COPX

COPX Risk / Return Rank: 76
COPX Sharpe Ratio Rank: 85
COPX Sortino Ratio Rank: 69
COPX Omega Ratio Rank: 70
COPX Calmar Ratio Rank: 81
COPX Martin Ratio Rank: 72

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.

TDGB.L vs. COPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L) and Global X Copper Miners ETF (COPX). 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.

	TDGB.L	COPX	Difference
Sharpe ratio: Return per unit of total volatility	3.14	2.62	+0.52
Sortino ratio: Return per unit of downside risk	4.38	2.88	+1.50
Omega ratio: Gain probability vs. loss probability	1.59	1.39	+0.20
Calmar ratio: Return relative to maximum drawdown	6.28	3.98	+2.30
Martin ratio: Return relative to average drawdown	20.78	12.54	+8.24

TDGB.L vs. COPX - Sharpe Ratio Comparison

The current TDGB.L Sharpe Ratio is 3.14, which is comparable to the COPX Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of TDGB.L and COPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TDGB.L vs. COPX - Drawdown Comparison

The maximum TDGB.L drawdown since its inception was -32.94%, smaller than the maximum COPX drawdown of -81.19%. Use the drawdown chart below to compare losses from any high point for TDGB.L and COPX.

Drawdown Indicators

	TDGB.L	COPX	Difference
Max Drawdown Largest peak-to-trough decline	-32.94%	-81.19%	+48.25%
Max Drawdown (1Y) Largest decline over 1 year	-4.66%	-27.06%	+22.40%
Max Drawdown (3Y) Largest decline over 3 years	-12.42%	-40.03%	+27.61%
Max Drawdown (5Y) Largest decline over 5 years	-12.42%	-40.03%	+27.61%
Max Drawdown (10Y) Largest decline over 10 years	-32.94%	-59.06%	+26.12%
Current Drawdown Current decline from peak	-0.18%	-9.65%	+9.47%
Average Drawdown Average peak-to-trough decline	-4.93%	-34.96%	+30.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.41%	8.56%	-7.15%

Volatility

TDGB.L vs. COPX - Volatility Comparison

The current volatility for VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF (TDGB.L) is 2.06%, while Global X Copper Miners ETF (COPX) has a volatility of 18.35%. This indicates that TDGB.L experiences smaller price fluctuations and is considered to be less risky than COPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TDGB.L	COPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.06%	18.35%	-16.29%
Volatility (6M) Calculated over the trailing 6-month period	7.06%	35.74%	-28.68%
Volatility (1Y) Calculated over the trailing 1-year period	9.31%	41.09%	-31.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.44%	33.61%	-22.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.76%	33.37%	-19.61%

TDGB.L vs. COPX - Expense Ratio Comparison

TDGB.L has a 0.38% expense ratio, which is lower than COPX's 0.65% expense ratio.

Dividends

TDGB.L vs. COPX - Dividend Comparison

TDGB.L's dividend yield for the trailing twelve months is around 3.16%, more than COPX's 2.24% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COPX Global X Copper Miners ETF	2.24%	2.68%	1.80%	2.39%	3.14%	1.48%	1.30%	1.37%	2.59%	1.57%	0.60%	1.20%
TDGB.L VanEck Morningstar Developed Markets Dividend Leaders UCITS ETF	3.16%	3.50%	4.26%	4.93%	4.40%	4.06%	4.16%	4.52%	4.38%	3.48%	0.00%	0.00%

Frequently Asked Questions

Can I hold both TDGB.L and COPX in my portfolio?

TDGB.L and COPX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TDGB.L or COPX?

On fees, TDGB.L is cheaper at 0.38% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TDGB.L or COPX?

TDGB.L is cheaper with a 0.38% expense ratio, compared with 0.65% for COPX.

What is the main difference between TDGB.L and COPX?

TDGB.L is categorized as Global Equities, while COPX is Materials. TDGB.L tracks Morningstar Developed Markets Large Cap Dividend Leaders Screened Select Index, while COPX tracks Solactive Global Copper Miners Total Return Index. They also come from different issuers: VanEck and Global X. Their fees differ too: 0.38% for TDGB.L and 0.65% for COPX.