ZINC.L vs. COPA.L
ZINC.L (WisdomTree Zinc) and COPA.L (WisdomTree Copper) are both Metals funds from WisdomTree - ZINC.L tracks the Bloomberg Zinc while COPA.L tracks the Bloomberg Copper Subindex. Both are passively managed. Over the past 10 years, ZINC.L returned 7.37%/yr vs 10.33%/yr for COPA.L. A 0.56 correlation means they provide meaningful diversification when combined. Both charge a 0.49% expense ratio.
Performance
ZINC.L vs. COPA.L - Performance Comparison
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Returns By Period
In the year-to-date period, ZINC.L achieves a 15.82% return, which is significantly higher than COPA.L's 13.93% return. Over the past 10 years, ZINC.L has underperformed COPA.L with an annualized return of 7.37%, while COPA.L has yielded a comparatively higher 10.33% annualized return.
ZINC.L
- 1D
- -0.57%
- 1M
- 6.40%
- YTD
- 15.82%
- 6M
- 17.29%
- 1Y
- 38.82%
- 3Y*
- 17.84%
- 5Y*
- 5.86%
- 10Y*
- 7.37%
COPA.L
- 1D
- 0.27%
- 1M
- 9.03%
- YTD
- 13.93%
- 6M
- 21.07%
- 1Y
- 30.28%
- 3Y*
- 19.08%
- 5Y*
- 7.06%
- 10Y*
- 10.33%
ZINC.L vs. COPA.L - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ZINC.L WisdomTree Zinc | 15.82% | 6.70% | 13.11% | -9.01% | -11.08% | 26.65% | 15.73% | -0.07% | -22.41% | 27.77% |
COPA.L WisdomTree Copper | 13.93% | 36.37% | 4.81% | 2.66% | -13.58% | 24.36% | 21.41% | 4.90% | -20.37% | 26.83% |
Correlation
The correlation between ZINC.L and COPA.L is 0.58, 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 | 0.58 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.57 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.59 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Mar 19, 2007 | 0.57 |
The correlation between ZINC.L and COPA.L has been stable across timeframes, ranging from 0.56 to 0.59 - a consistent structural relationship.
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Return for Risk
ZINC.L vs. COPA.L — Risk / Return Rank
ZINC.L
COPA.L
ZINC.L vs. COPA.L - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for WisdomTree Zinc (ZINC.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.
| ZINC.L | COPA.L | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.21 | ||
| Sortino ratioReturn per unit of downside risk | +1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.22 | +0.12 |
| Calmar ratioReturn relative to maximum drawdown | 3.60 | 1.19 | +2.40 |
| Martin ratioReturn relative to average drawdown | 13.28 | 2.57 | +10.71 |
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
| ZINC.L | COPA.L | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.12 | 0.91 | +1.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.27 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.31 | 0.44 | -0.14 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.03 | 0.09 | -0.12 |
Drawdowns
ZINC.L vs. COPA.L - Drawdown Comparison
The maximum ZINC.L drawdown since its inception was -77.49%, 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 ZINC.L and COPA.L.
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Drawdown Indicators
| ZINC.L | COPA.L | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.49% | -67.44% | -10.05% |
Max Drawdown (1Y)Largest decline over 1 year | -10.74% | -25.25% | +14.51% |
Max Drawdown (3Y)Largest decline over 3 years | -19.66% | -25.25% | +5.59% |
Max Drawdown (5Y)Largest decline over 5 years | -47.04% | -34.64% | -12.40% |
Max Drawdown (10Y)Largest decline over 10 years | -47.04% | -38.75% | -8.29% |
Current DrawdownCurrent decline from peak | -36.98% | -2.26% | -34.72% |
Average DrawdownAverage peak-to-trough decline | -56.38% | -33.24% | -23.14% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.90% | 11.73% | -8.83% |
Volatility
ZINC.L vs. COPA.L - Volatility Comparison
The current volatility for WisdomTree Zinc (ZINC.L) is 4.90%, while WisdomTree Copper (COPA.L) has a volatility of 8.83%. This indicates that ZINC.L experiences smaller price fluctuations and is considered to be less risky 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
| ZINC.L | COPA.L | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.90% | 8.83% | -3.93% |
Volatility (6M)Calculated over the trailing 6-month period | 14.12% | 18.91% | -4.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.26% | 33.17% | -14.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.18% | 26.20% | -1.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.98% | 23.28% | +0.70% |
ZINC.L vs. COPA.L - Expense Ratio Comparison
Both ZINC.L and COPA.L have an expense ratio of 0.49%.
Dividends
ZINC.L vs. COPA.L - Dividend Comparison
Neither ZINC.L nor COPA.L has paid dividends to shareholders.
Frequently Asked Questions
ZINC.L and COPA.L have a correlation of 0.58, 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.
ZINC.L and COPA.L have the same expense ratio: 0.49% per year.
ZINC.L tracks Bloomberg Zinc, while COPA.L tracks Bloomberg Copper Subindex.
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