URA vs. COPA
URA (Global X Uranium ETF) and COPA (Themes Copper Miners ETF) are both Commodity Producers Equities funds - URA tracks the Solactive Global Uranium & Nuclear Components Total Return Index while COPA tracks the BITA Global Copper Mining Select Index. Both are passively managed. Over the past year, URA returned 61.26% vs 125.91% for COPA. A 0.53 correlation means they provide meaningful diversification when combined. URA charges 0.69%/yr vs 0.35%/yr for COPA.
Performance
URA vs. COPA - Performance Comparison
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Returns By Period
In the year-to-date period, URA achieves a 17.93% return, which is significantly lower than COPA's 25.73% return.
URA
- 1D
- -5.67%
- 1M
- -8.00%
- YTD
- 17.93%
- 6M
- 13.25%
- 1Y
- 61.26%
- 3Y*
- 39.27%
- 5Y*
- 21.39%
- 10Y*
- 17.12%
COPA
- 1D
- -2.67%
- 1M
- 19.35%
- YTD
- 25.73%
- 6M
- 38.86%
- 1Y
- 125.91%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
URA vs. COPA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
URA Global X Uranium ETF | 17.93% | 67.18% | -4.59% |
COPA Themes Copper Miners ETF | 25.73% | 100.86% | -14.59% |
Correlation
The correlation between URA and COPA is 0.54, 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 | 0.54 |
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024 | 0.53 |
The correlation between URA and COPA has been stable across timeframes, ranging from 0.53 to 0.54 - a consistent structural relationship.
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Return for Risk
URA vs. COPA — Risk / Return Rank
URA
COPA
URA vs. COPA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Global X Uranium ETF (URA) and Themes Copper Miners ETF (COPA). 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.
| URA | COPA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.02 | ||
| Sortino ratioReturn per unit of downside risk | -1.62 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.46 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | 4.52 | -2.35 |
| Martin ratioReturn relative to average drawdown | 4.58 | 15.06 | -10.47 |
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
| URA | COPA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.23 | 3.25 | -2.02 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.49 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.05 | 1.53 | -1.57 |
Drawdowns
URA vs. COPA - Drawdown Comparison
The maximum URA drawdown since its inception was -93.54%, which is greater than COPA's maximum drawdown of -34.72%. Use the drawdown chart below to compare losses from any high point for URA and COPA.
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Drawdown Indicators
| URA | COPA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.54% | -34.72% | -58.82% |
Max Drawdown (1Y)Largest decline over 1 year | -28.43% | -28.05% | -0.38% |
Max Drawdown (3Y)Largest decline over 3 years | -37.81% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -37.90% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -61.45% | — | — |
Current DrawdownCurrent decline from peak | -42.81% | -2.67% | -40.14% |
Average DrawdownAverage peak-to-trough decline | -75.01% | -9.62% | -65.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.40% | 8.39% | +5.01% |
Volatility
URA vs. COPA - Volatility Comparison
Global X Uranium ETF (URA) has a higher volatility of 15.94% compared to Themes Copper Miners ETF (COPA) at 14.11%. This indicates that URA's price experiences larger fluctuations and is considered to be riskier than COPA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| URA | COPA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.94% | 14.11% | +1.83% |
Volatility (6M)Calculated over the trailing 6-month period | 38.29% | 33.12% | +5.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 50.19% | 38.98% | +11.21% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 43.62% | 38.12% | +5.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 37.73% | 38.12% | -0.39% |
URA vs. COPA - Expense Ratio Comparison
URA has a 0.69% expense ratio, which is higher than COPA's 0.35% expense ratio.
Dividends
URA vs. COPA - Dividend Comparison
URA's dividend yield for the trailing twelve months is around 4.14%, more than COPA's 3.39% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
COPA Themes Copper Miners ETF | 3.39% | 4.26% | 1.33% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
URA Global X Uranium ETF | 4.14% | 4.88% | 2.86% | 6.07% | 0.76% | 5.84% | 1.69% | 1.66% | 0.44% | 2.03% | 7.28% | 1.96% |
Frequently Asked Questions
URA and COPA have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
URA has higher volatility (15.94%) compared to COPA (14.11%). In terms of maximum drawdown, URA dropped -93.54% vs COPA's -34.72%.
On 1-year performance, COPA leads with 125.91% vs 61.26% for URA. On fees, COPA is cheaper at 0.35% per year. On volatility, COPA has been the lower-risk option at 14.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, COPA has performed better with a 125.91% return vs 61.26%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
COPA is cheaper with a 0.35% expense ratio, compared with 0.69% for URA.
URA has the higher dividend yield at 4.14%, compared with 3.39% for COPA.
URA tracks Solactive Global Uranium & Nuclear Components Total Return Index, while COPA tracks BITA Global Copper Mining Select Index. They also come from different issuers: Global X and Themes. Their fees differ too: 0.69% for URA and 0.35% for COPA.
COPA currently has the higher Sharpe Ratio (3.25 vs 1.23), 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.
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