The "Copy as Draft" function allows copying a campaign with all basic settings into a pre-filled creation form to easily create a similar campaign without having to paste everything again.
As of now, you have 2 options to choose from for this feature:
Simple Copy
Creates a new campaign with only the user settings of the source campaign pre-filled in the creation form (portfolio, start and end dates, tags, category, targeting including custom settings, ad creative). All settings can be edited before creating the new campaign. Harvested targets, bids and daily budgets are not copied."
Deep Copy
Creates an exact copy of the source campaign, copying both user settings and adjustments made by the Ad Optimizer algorithm (harvested targets, bid adjustments, daily budget limits). With the exception of the targeting type, all user settings can be changed before creating the new campaign.
