How do the fees of COPX and ICOP compare?

COPX charges 0.65% and ICOP charges 0.47%. On a $10,000 investment that is about $65 a year for COPX and $47 for ICOP, a difference of roughly $18. Both fees are typical for niche commodity equity funds but well above what broad stock market ETFs charge.

What index does each fund track?

COPX tracks the Solactive Global Copper Miners index, a basket of 47 companies whose revenue is closely tied to copper mining. ICOP tracks the STOXX Global Copper and Metals Mining Index, which holds 63 companies and includes large diversified miners alongside copper specialists.

How much do COPX and ICOP overlap?

By exact ticker, three top-10 names are shared: FCX, SCCO and Teck (TECK.B.NE). Several other companies appear in both lists under different exchange codes, such as BHP, First Quantum and Antofagasta. So the underlying company overlap is larger than the ticker match suggests, but weights and the remaining holdings differ.

Which fund pays a higher dividend yield?

COPX yields 2.22% and ICOP yields 1.64%. Mining companies often pay variable dividends tied to commodity prices, so both yields can move significantly from year to year. Neither fund is designed as an income product, and payouts depend on the profitability of the miners held.

Which fund suits which goal?

COPX suits investors who want a focused copper miners fund with a long history and the highest assets in the category. ICOP suits investors who want lower ongoing costs and a somewhat broader basket of metals miners, and who are comfortable with a smaller, newer fund.

How do size and liquidity compare?

COPX is far larger at about $7.43 billion in net assets, compared with roughly $480 million for ICOP. COPX launched in April 2010 and ICOP in June 2023. The larger fund typically trades with tighter spreads, so ICOP investors may want to use limit orders on bigger trades.

How concentrated is each fund?

COPX spreads its top 10 fairly evenly, with each between about 4.3% and 5.7%, totaling near 49% of the fund. ICOP's top four, GMEXICO.B, FCX, AAL and BHP, are each around 8%, and its top 10 total about 60%. ICOP has more holdings but heavier top weights.

Can I hold both COPX and ICOP?

Yes, though the two funds hold many of the same companies, so combining them adds limited diversification. Some investors hold both to blend COPX's pure copper focus with ICOP's broader metals exposure. The combination remains a concentrated bet on mining and copper demand.

Are there tax or account differences?

Both are US-listed equity ETFs that hold mostly non-US companies, so dividends may face withholding tax inside the fund before they reach you. Non-US investors may face further withholding on distributions. Check how your country and account type treat US-domiciled ETFs with international holdings.

Why do copper miner ETFs move more than the copper price?

Miners have fixed costs, so a change in the copper price has a larger effect on their profits than on revenue. This operating leverage means funds like COPX and ICOP tend to rise and fall more sharply than copper itself. Company-specific factors such as mine disruptions, debt and politics add further variability.

COPX vs ICOP

Two funds, one decision: we compare cost, performance and what each ETF actually holds in September 2026.

COPX tracks the Solactive Global Copper Miners index with 47 holdings for a 0.65% expense ratio and yields 2.22%, while ICOP tracks the STOXX Global Copper and Metals Mining Index with 63 holdings for 0.47% and yields 1.64%. COPX suits investors who want the largest, longest-running copper miners fund, and ICOP suits those who want a lower fee and a wider metals basket. Educational content, not financial advice.

COPX tracks the Solactive Global Copper Miners index with 47 holdings for a 0.65% expense ratio and yields 2.22%, while ICOP tracks the STOXX Global Copper and Metals Mining Index with 63 holdings for...

Fund Snapshot

Key Fund Metrics

COPX

Metric

ICOP

0.65%

Expense Ratio

0.47%

2.22%

Dividend Yield

1.64%

$7.43B

Net Assets

$480.19M

47

Holdings

63

Apr 19, 2010

Inception Date

Jun 21, 2023

Stuttgart Solactive AG Global Copper Miners

Index Tracked

STOXX Global Copper and Metals Mining Index

Natural Resources

Fund Category

Natural Resources

ICOP costs about $18.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	COPX	ICOP
TECK.B.NETECK RESOURCES LTD-CLS B	5.33%	5.32%
SCCOSouthern Copper Corporation	5.00%	4.62%
FCXFreeport-McMoRan Inc.	4.93%	8.05%

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Investment Analysis

COPX

Pros

Largest copper miners fund at about $7.43 billion, trading since April 2010
Higher dividend yield at 2.22% versus 1.64% for ICOP
Pure copper focus with FCX, SCCO and Teck among its top holdings

Considerations

Higher 0.65% expense ratio, about $18 more per $10,000 each year than ICOP
Only 47 holdings in a single commodity theme, so returns swing with copper
Many holdings trade on Canadian, Australian and European exchanges, adding currency risk

ICOP

Pros

Lower 0.47% expense ratio, about $47 a year per $10,000
Broader 63-stock basket that extends beyond pure copper into other metals
Large weights in FCX, GMEXICO.B, AAL and BHP spread exposure across major diversified miners

Considerations

Small fund at about $480 million with a short record since June 2023
Lower dividend yield at 1.64% compared with 2.22% for COPX
Diversified miners in the basket dilute the direct link to the copper price

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About COPX and ICOP

COPX (COPX)

Global X Copper Miners ETF (COPX) offers investors a focused way to gain exposure to companies involved in the discovery, extraction and production of copper. The fund concentrates on mining firms whose earnings are closely tied to copper prices, so performance tends to track the commodity’s cycles rather than broad equity markets. Copper demand is supported by electrification, electric vehicles, renewable-energy infrastructure and general industrial activity, which can be constructive for miners over time. However, returns can be volatile: miner profits depend on commodity prices, operational risks, capital intensity, and geopolitical or permitting issues in producing regions. COPX may suit investors seeking thematic or tactical exposure to copper rather than a core, diversified holding. Always consider fees, tax treatment and how this commodity-linked ETF fits within your overall risk profile — and remember that past performance is no guarantee of future results. This is educational information, not personalised advice.

ICOP (ICOP)

iShares Copper and Metals Mining ETF (ICOP) is an exchange-traded fund that gives investors targeted exposure to companies involved in copper and other metals mining. Managed by iShares (BlackRock), the ETF typically includes producers, developers and related service companies across global mining hubs. Its performance is closely linked to commodity prices — particularly copper — and broader industrial demand, which means returns can be cyclical and volatile. ICOP can offer a convenient way to gain sector-level exposure without selecting individual miners, but be mindful of concentration risks (large miners can dominate holdings), country and regulatory risks, and currency effects. Fees, index methodology and turnover can affect outcomes, so check the current prospectus and factsheet before investing. This summary is educational and not personal advice; values can fall as well as rise and past performance is not a guide to future results.

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