UGLD vs. COPZ

Last updated Jul 17, 2026

UGLD (Direxion Daily Gold Bull 2X ETF) and COPZ (Defiance Daily Target 2X Long Copper ETF) are both exchange-traded funds - UGLD is a Leveraged Commodities fund actively managed by Direxion, while COPZ is a Copper fund actively managed by Defiance. Both are actively managed. A 0.75 correlation means they provide meaningful diversification when combined. UGLD charges 1.07%/yr vs 0.95%/yr for COPZ.

Performance

UGLD vs. COPZ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Direxion Daily Gold Bull 2X ETF (UGLD) and Defiance Daily Target 2X Long Copper ETF (COPZ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

UGLD

• 1D: -3.49%
• 1M: -16.56%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

COPZ

• 1D: -6.77%
• 1M: -32.86%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UGLD vs. COPZ - Yearly Performance Comparison

	2026 (YTD)
UGLD Direxion Daily Gold Bull 2X ETF	-21.26%
COPZ Defiance Daily Target 2X Long Copper ETF	-29.25%

Correlation

The correlation between UGLD and COPZ is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.75

Return for Risk

UGLD vs. COPZ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Direxion Daily Gold Bull 2X ETF (UGLD) and Defiance Daily Target 2X Long Copper ETF (COPZ). 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

UGLD vs. COPZ - Drawdown Comparison

The maximum UGLD drawdown since its inception was -24.99%, smaller than the maximum COPZ drawdown of -51.36%. Use the drawdown chart below to compare losses from any high point for UGLD and COPZ.

Drawdown Indicators

	UGLD	COPZ	Difference
Max Drawdown Largest peak-to-trough decline	-24.99%	-51.36%	+26.37%
Current Drawdown Current decline from peak	-24.99%	-49.26%	+24.27%
Average Drawdown Average peak-to-trough decline	-15.55%	-31.69%	+16.14%

Volatility

Volatility by Period

	UGLD	COPZ	Difference
Volatility (1Y) Calculated over the trailing 1-year period	53.50%	108.90%	-55.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.50%	108.90%	-55.40%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	53.50%	108.90%	-55.40%

UGLD vs. COPZ - Expense Ratio Comparison

UGLD has a 1.07% expense ratio, which is higher than COPZ's 0.95% expense ratio.

Dividends

UGLD vs. COPZ - Dividend Comparison

UGLD's dividend yield for the trailing twelve months is around 0.24%, while COPZ has not paid dividends to shareholders.

Position	TTM
COPZ Defiance Daily Target 2X Long Copper ETF	0.00%
UGLD Direxion Daily Gold Bull 2X ETF	0.24%

Frequently Asked Questions

Can I hold both UGLD and COPZ in my portfolio?

UGLD and COPZ have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UGLD or COPZ?

On fees, COPZ is cheaper at 0.95% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UGLD or COPZ?

COPZ is cheaper with a 0.95% expense ratio, compared with 1.07% for UGLD.

Which ETF pays a higher dividend yield, UGLD or COPZ?

UGLD has the higher dividend yield at 0.24%, compared with 0.00% for COPZ.

What is the main difference between UGLD and COPZ?

UGLD is categorized as Leveraged Commodities, while COPZ is Copper. They also come from different issuers: Direxion and Defiance. Their fees differ too: 1.07% for UGLD and 0.95% for COPZ.