Compare/Updated Oct 26, 2026, refreshed every trading day
ICOP vs COPX
iShares Copper and Metals Mining ETF against Global X - Copper Miners ETF: 3 years of returns, risk and today’s technical read, from Kavout’s own data.
ICOP and COPX delivered nearly identical gains over the period: $1,000 grew to $2,075 in ICOP versus $2,069 in COPX, a difference of 0.6 percentage points. ICOP did better overall and also led over the past year, YTD, and recent one-, three-, and six-month periods. COPX nevertheless had the stronger three-year return, 124.8% versus 120.0%, and won 22 of the last 40 months. ICOP’s edge came with lower risk: 42.5% versus 47.2% volatility, a -38.7% versus -39.7% worst drawdown, and a 0.47% versus 0.65% expense ratio. The ETFs were highly correlated, at 0.975 over the full comparison and 0.983 recently, so the choice primarily reflects ICOP’s slightly better recent results and lower costs and risk, versus COPX’s stronger longer-term return.
- Price is below its 200-day average ($52); 50-day at $55.
- RSI 28, oversold. Supertrend says sell. ADX 21, so the trend is developing.
- Price is below its 200-day average ($83); 50-day at $87.
- RSI 25, oversold. Supertrend says sell. ADX 19, so the trend is weak.
Head to head
Which has returned more, ICOP or COPX?
ICOP beat COPX in 18 of the last 40 months; COPX won the other 22. The typical monthly gap was 0.75 points.
Total return by period
Which is riskier?
Both: May 20, 2024 to Apr 8, 2025
- 0.975
- correlation of daily moves, 3 years
- 0.89
- ICOP move per 1% in COPX
- 0.983
- correlation, last 12 months
Month by month
Of the last 40 months. The typical gap was 0.75 points.
When did they diverge?
| Month | ICOP | COPX | Gap |
|---|---|---|---|
| August 2025 | +11.1% | +15.7% | -4.61 pts |
| September 2025 | +16.1% | +20.1% | -3.93 pts |
| April 2025 | +0.6% | -3.2% | +3.78 pts |
| March 2026 | -16.8% | -20.2% | +3.46 pts |
Where the numbers come from. 837 daily adjusted closes per fund from the Kavout market-data API, dividends included. Signals and indicators are Kavout’s own, refreshed nightly. Every figure is calculated from those adjusted closes.
Holdings and fees
What do you actually own with ICOP and COPX?
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