URAN vs. COPP

Last updated Jun 4, 2026

URAN (Themes Uranium & Nuclear ETF) and COPP (Sprott Copper Miners ETF) are both Commodity Producers Equities funds - URAN tracks the BITA Global Uranium and Nuclear Select Index while COPP tracks the Nasdaq Sprott Copper Miners Index. Both are passively managed. Over the past year, URAN returned 28.74% vs 111.49% for COPP. A 0.54 correlation means they provide meaningful diversification when combined. URAN charges 0.35%/yr vs 0.65%/yr for COPP.

Performance

URAN vs. COPP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Uranium & Nuclear ETF (URAN) 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, URAN achieves a 5.17% return, which is significantly lower than COPP's 26.69% return.

URAN

• 1D: -3.96%
• 1M: -5.96%
• YTD: 5.17%
• 6M: 2.21%
• 1Y: 28.74%
• 3Y*: —
• 5Y*: —
• 10Y*: —

COPP

• 1D: -3.50%
• 1M: 22.98%
• YTD: 26.69%
• 6M: 39.51%
• 1Y: 111.49%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

URAN vs. COPP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
URAN Themes Uranium & Nuclear ETF	5.17%	49.05%	4.09%
COPP Sprott Copper Miners ETF	26.69%	74.02%	-18.97%

Correlation

The correlation between URAN and COPP is 0.53, 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	0.53
Correlation (All Time) Calculated using the full available price history since Sep 25, 2024	0.54

The correlation between URAN and COPP has been stable across timeframes, ranging from 0.53 to 0.54 - a consistent structural relationship.

Return for Risk

URAN vs. COPP — Risk / Return Rank

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

URAN

URAN Risk / Return Rank: 22
URAN Sharpe Ratio Rank: 21
URAN Sortino Ratio Rank: 23
URAN Omega Ratio Rank: 21
URAN Calmar Ratio Rank: 24
URAN Martin Ratio Rank: 20

COPP

COPP Risk / Return Rank: 70
COPP Sharpe Ratio Rank: 79
COPP Sortino Ratio Rank: 62
COPP Omega Ratio Rank: 61
COPP Calmar Ratio Rank: 76
COPP Martin Ratio Rank: 70

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.

URAN vs. COPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Uranium & Nuclear ETF (URAN) 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.

	URAN	COPP	Difference
Sharpe ratio: Return per unit of total volatility	0.73	2.62	-1.88
Sortino ratio: Return per unit of downside risk	1.25	2.98	-1.73
Omega ratio: Gain probability vs. loss probability	1.15	1.38	-0.23
Calmar ratio: Return relative to maximum drawdown	1.14	3.88	-2.74
Martin ratio: Return relative to average drawdown	2.27	13.39	-11.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

URAN vs. COPP - Sharpe Ratio Comparison

The current URAN Sharpe Ratio is 0.73, which is lower than the COPP Sharpe Ratio of 2.62. The chart below compares the historical Sharpe Ratios of URAN 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

	URAN	COPP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.73	2.62	-1.88
Sharpe Ratio (All Time) Calculated using the full available price history	0.87	1.11	-0.24

Drawdowns

URAN vs. COPP - Drawdown Comparison

The maximum URAN drawdown since its inception was -31.96%, smaller than the maximum COPP drawdown of -44.37%. Use the drawdown chart below to compare losses from any high point for URAN and COPP.

Drawdown Indicators

	URAN	COPP	Difference
Max Drawdown Largest peak-to-trough decline	-31.96%	-44.37%	+12.41%
Max Drawdown (1Y) Largest decline over 1 year	-25.31%	-28.91%	+3.60%
Current Drawdown Current decline from peak	-20.16%	-3.50%	-16.66%
Average Drawdown Average peak-to-trough decline	-10.75%	-14.02%	+3.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.71%	8.35%	+4.36%

Volatility

URAN vs. COPP - Volatility Comparison

The current volatility for Themes Uranium & Nuclear ETF (URAN) is 12.29%, while Sprott Copper Miners ETF (COPP) has a volatility of 15.22%. This indicates that URAN experiences smaller price fluctuations and is considered to be less risky than COPP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	URAN	COPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.29%	15.22%	-2.93%
Volatility (6M) Calculated over the trailing 6-month period	29.33%	36.30%	-6.97%
Volatility (1Y) Calculated over the trailing 1-year period	39.47%	42.84%	-3.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.13%	40.80%	-1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.13%	40.80%	-1.67%

URAN vs. COPP - Expense Ratio Comparison

URAN has a 0.35% expense ratio, which is lower than COPP's 0.65% expense ratio.

Dividends

URAN vs. COPP - Dividend Comparison

URAN's dividend yield for the trailing twelve months is around 2.44%, more than COPP's 1.87% yield.

Position	TTM	2025	2024
COPP Sprott Copper Miners ETF	1.87%	2.37%	2.59%
URAN Themes Uranium & Nuclear ETF	2.44%	2.56%	0.21%

Frequently Asked Questions

Can I hold both URAN and COPP in my portfolio?

URAN and COPP have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, URAN or COPP?

COPP has higher volatility (15.22%) compared to URAN (12.29%). In terms of maximum drawdown, URAN dropped -31.96% vs COPP's -44.37%.

Which ETF is better, URAN or COPP?

On 1-year performance, COPP leads with 111.49% vs 28.74% for URAN. On fees, URAN is cheaper at 0.35% per year. On volatility, URAN has been the lower-risk option at 12.29%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, URAN or COPP?

Over the 1-year period, COPP has performed better with a 111.49% return vs 28.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, URAN or COPP?

URAN is cheaper with a 0.35% expense ratio, compared with 0.65% for COPP.

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

URAN has the higher dividend yield at 2.44%, compared with 1.87% for COPP.

What is the main difference between URAN and COPP?

URAN tracks BITA Global Uranium and Nuclear Select Index, while COPP tracks Nasdaq Sprott Copper Miners Index. They also come from different issuers: Themes and Sprott. Their fees differ too: 0.35% for URAN and 0.65% for COPP.

Which has better risk-adjusted returns?

COPP currently has the higher Sharpe Ratio (2.62 vs 0.73), 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.