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  5. COP.UN: Market price and NAV seem to have only vague relation to the spot price for copper. [Sprott Physical Copper Trust]
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Q: Market price and NAV seem to have only vague relation to the spot price for copper. Does this have something to do with the fact it is a closed end trust?
Are there any other ETFs that track the spot price of the metal closer?
Asked by Jeff on February 02, 2026
5i Research Answer:

Currently COP.U is the only vehicle for physical copper. The price does vary, and the structure can limit its correlation a bit. However, right now it is at less than a 0.5% discount to its net asset value. 

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