What do the expense ratios tell us about ICOP and PICK?

Expense ratios indicate annual operating costs charged to investors. ICOP has a 0.47% expense ratio, while PICK charges 0.39%. A lower expense ratio can benefit long-term investors by preserving returns, though other factors like performance and risk matter too. Both fees are considered moderate for niche sector ETFs. Understanding these costs helps compare funds, but it's essential to look at the complete picture before making investment decisions.

How do dividend yields work for ETFs like ICOP and PICK?

Dividend yields represent the annual dividends distributed to investors relative to the ETF's current market price, expressed as a percentage. ICOP has a 1.63% yield, while PICK offers 2.14%. These yields can fluctuate based on the underlying companies' dividends and market price changes. Dividends from ETFs are typically distributed quarterly. They provide income but aren't guaranteed. A yield alone doesn't indicate future income or growth potential.

Why are tracking errors mentioned for these ETFs?

Tracking error measures how closely an ETF follows its benchmark index. For both ICOP and PICK, the specific index tracked is listed as 'not available'. Without this information, it's difficult to assess their tracking accuracy. In general, a low tracking error indicates the ETF is mirroring its index well. Higher errors might suggest greater deviation, potentially due to costs, sampling, or liquidity issues. Investors should seek more clarity on the benchmark before evaluating tracking performance.

Which fund has a longer track record and a bigger asset base?

PICK was launched on January 31, 2012, and manages $2.5 billion in net assets. ICOP is significantly younger, with an inception date of June 21, 2023, and manages $480 million. Generally, a longer track record and larger assets can indicate more experience and potentially better liquidity. However, the size of a fund does not guarantee performance or suitability for every investor.

How similar are the top holdings of ICOP and PICK?

ICOP and PICK share two holdings in their top ten: Freeport-McMoRan (FCX) and Southern Copper Corporation (SCCO). FCX accounts for 8.22% in ICOP versus 6.26% in PICK. SCCO is 4.64% in ICOP compared to just 1.11% in PICK. While these overlapping holdings indicate some common exposure to copper mining, the weights differ substantially. This suggests ICOP is more concentrated in these specific names relative to PICK, implying potentially different risk and return profiles despite some shared holdings.

What is concentration risk in the context of these ETFs?

Concentration risk refers to the potential for an investment to be heavily influenced by a small number of holdings. Both ICOP and PICK list FCX as a significant position, making up 8.22% of ICOP's assets and 6.26% of PICK's. A higher weight in any single stock can cause the fund to behave more like that stock, leading to more volatility than a broadly diversified ETF. While FCX is the largest position in both funds, the overall portfolio structure and the rest of their holdings differ.

How do the expense ratio and yield differences affect returns?

PICK's expense ratio is 0.08 percentage points lower than ICOP's (0.39% vs. 0.47%). Over time, this can modestly favour PICK's gross return. However, ICOP and PICK also differ in their dividend yields, with PICK's 2.14% exceeding ICOP's 1.63%. A higher yield may provide more current income, though it can sometimes signal different market expectations or portfolio composition. Investors should consider both costs and yields in relation to their return goals. Neither factor alone indicates superior performance, as the underlying index components and overall portfolio strategies are also critical.

What kind of metals mining exposure does each fund offer?

ICOP is described as offering access to a copper-focused sector, with FCX, a major copper producer, as its top holding. PICK covers a broader range of metals and mining producers, as indicated by its holdings which include steel producers like New United States (NUE), Steel Dynamics (STLD), and RS. While both provide mining sector exposure, their focus differs. ICOP appears more targeted towards specific metals like copper, whereas PICK seems to encompass a wider array of basic industrial metals, leading to varying degrees of sector diversification.

How might sector weights influence investment decisions?

Sector weights show how a fund divides its assets across different industries or sub-sectors. For ICOP and PICK, this specific data is listed as 'not available' in the provided fund data. Without this information, it is challenging to directly compare the sector diversification between the two. However, the individual top holdings can offer clues: ICOP's heavier weighting in copper producers like FCX and SCCO suggests a leaner sector, whereas PICK's inclusion of steel names indicates a broader allocation within mining. Investors seeking sector clarity often look at these weights to understand underlying risk and concentration factors.

What information is missing that could affect my understanding of these funds?

The provided fund data highlights several key areas of uncertainty for both ICOP and PICK. The specific index each fund tracks is listed as 'not available', which hinders assessment of how they aim to replicate market performance and potential tracking error. Furthermore, sector weights, which show fund concentration across industries, are also unavailable. Understanding a fund's benchmark, tracking accuracy, and sector breakdown is crucial for making informed investment decisions. Without these details, it's difficult to fully compare ICOP and PICK or assess their alignment with specific investment strategies.

How should beginners approach evaluating ICOP and PICK?

Start by identifying your primary investment goal, such as long-term growth or income generation, and consider if each fund aligns with that objective. Review factors like cost, income, and holdings carefully. Note that the specific index tracked by both funds is not available, which means comparing performance against a benchmark is difficult. Beginners should also be cautious about missing data, like sector weights, and consider consulting additional resources or a professional to understand the funds fully.

What is the main educational purpose of an ETF comparison page?

The main purpose is to help investors understand how to interpret key data points for comparing ETFs, such as costs, yields, and holdings. This page demonstrates the differences and similarities between ICOP and PICK without offering any recommendation or advice. It highlights where information might be missing and clarifies how to analyse the available data.

ICOP vs PICK

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

This page compares ICOP and PICK, examining fees, holdings, dividends and how each fund tracks its market. ICOP has a 0.47% expense ratio and $480m net assets, while PICK charges 0.39% with $2.5bn net assets. Both offer exposure to metals mining. Educational content, not financial advice.

This page compares ICOP and PICK, examining fees, holdings, dividends and how each fund tracks its market. ICOP has a 0.47% expense ratio and $480m net assets, while PICK charges 0.39% with $2.5bn net...

Fund Snapshot

Key Fund Metrics

ICOP

Metric

PICK

0.47%

Expense Ratio

0.39%

1.63%

Dividend Yield

2.14%

$480.19M

Net Assets

$2.50B

100

Holdings

279

Jun 21, 2023

Inception Date

Jan 31, 2012

–

Index Tracked

–

Natural Resources

Fund Category

Natural Resources

PICK costs about $8.00 less per year for every $10,000 invested.

Shared Top Holdings

Holding	ICOP	PICK
FCXFreeport-McMoRan Inc.	8.22%	6.26%
SCCOSouthern Copper Corporation	4.64%	1.11%

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Investment Analysis

ICOP

Pros

This fund has a recent inception date of June 21, 2023.
It holds a 1.63 per cent dividend yield.
It offers access to a copper-focused sector, with a holding in FCX at 8.22 per cent.

Considerations

It has a higher expense ratio of 0.47 per cent compared to other funds.
It is a smaller fund, with net assets of only $480 million.
Tracking error may be a concern as the index tracked is not available.

PICK

Pros

It has a lower expense ratio of 0.39 per cent.
It has a longer inception date of January 31, 2012, indicating more stability.
It has a larger fund size with $2.5 billion in net assets.

Considerations

It has a lower dividend yield of 2.14 per cent compared to some other funds.
The fund's top holdings, such as FCX, may lead to concentration risk.
Tracking error may be a concern as the index tracked is not available.

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About ICOP and PICK

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.

PICK (PICK)

iShares MSCI Global Metals & Mining Producers ETF (PICK) is an exchange-traded fund offering investors company-level exposure to listed metals and mining producers worldwide. It aims to track an MSCI index that focuses on firms engaged in metal extraction and mining-related activities. PICK provides diversified access across regions and companies, making it a way to gain exposure to miners without buying individual shares. Performance tends to be closely linked to commodity prices and global economic cycles, so returns can be volatile. Investors should consider company-specific risks (operational, regulatory and geopolitical), currency moves, and sector concentration. Fees, dividend policies and liquidity vary by share class and market; check the fund’s factsheet for up-to-date details. This is general educational information, not personal advice — values can fall as well as rise and past performance is not a reliable indicator of future results. Assess suitability for your goals and speak to a financial professional if unsure.

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ICOP vs PICK

Fund Snapshot

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Investment Analysis

ICOP

Pros

Considerations

PICK

Pros

Considerations

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Fund Snapshot

About ICOP and PICK

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