ICOP
iShares Copper and Metals Mining ETF
ICOP tracks a market-capitalization weighted index composed of stocks of copper and metal ore mining companies globally. Stocks are quantitatively screened to identify stocks with significant revenue tied to this space.
Global
EQUITY
Passive
MANAGEMENT STYLE
$ 382.0 M
ASSETS UNDER MGMT
47 bp
EXPENSES
Fund Basics
| Inception date | Jun 21, 2023 |
| Regulation | Open-Ended Fund |
| Fund Website | link... |
| Distributions | Quarterly |
| Currency | USD |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| FREEPORT-MCMORAN COPPER | 8.5 % |
| BHP BILLITON LTD | 8.4 % |
| GRUPO MEXICO S.A.B. DE C.V. CLASS B | 7.9 % |
| ANGLO AMERICAN PLC | 7.7 % |
| NEWMONT MINING CORP | 5.9 % |
| LUNDIN MINING CORP | 5.2 % |
| TECK RESOURCES LTD-CLS B | 5.1 % |
| ANTOFAGASTA PLC | 4.7 % |
| EVOLUTION MINING LTD | 4.7 % |
| SOUTHERN COPPER CORP | 4.5 % |
Constituent Breakdown
| Number of holdings | 46 |
| Herfindahl-Hirschman Index | 498 |
| Wgt avg mkt cap (mns) | $51,075 |
| Large cap (>$10bn) | 74.2% |
| Mid cap ($2-10bn) | 5.8% |
| Small cap (<$2bn) | 2.7% |
| Developed mkts. | 67.9% |
| Emerging mkts. | 15.0% |
Sector Breakdown
Country Exposure
 |
CANADA | 20.6 % |
 |
UNITED STATES | 18.9 % |
 |
AUSTRALIA | 15.6 % |
 |
BRITAIN | 8.4 % |
 |
MEXICO | 7.9 % |
 |
SWITZERLAND | 3.6 % |
 |
POLAND | 3.0 % |
 |
BRAZIL | 3.0 % |
 |
HONG KONG | 1.2 % |
 |
CHINA | 0.6 % |
Historical Performance
Standardized Performance (as of 02/28/2026)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | 29.0% | 124.9% | 52.9% | -- | -- | -- | -- | 37.5% |
| Dividend Yield | 0.0% | 5.7% | 3.3% | -- | -- | -- | -- | 1.2% |
| Total Returns | 29.0% | 130.6% | 56.1% | -- | -- | -- | -- | 38.7% | Ann. Volatility | 47.1% | 35.8% | 33.6% | -- | -- | -- | -- | 32.0% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 1.11 | 36% |
| MSCI EAFE | 1.50 | 48% |
| MSCI Emg Mkts | 1.46 | 54% |
Liquidity Measures
| Avg. volume (000) | 242 |
| ADV traded (mns) | $11 |
| Turnover | 2.8% |
| Avg. Bid/Ask (% of price) | 0.15% |
Technical Indicators
| 30d moving avg. (EMA) | $51.63 |
| Relative strength (RSI) | 45 |
| MACD/Signal | -0.91/0.06 |
| Bollinger Bands (Upper/Lower) | $58.88/$46.73 |
| Short interest (% of AUM) | 0.3% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. ICOP |
Expenses vs. ICOP |
ALTAR Score™ vs. ICOP |
|---|---|---|---|---|
| COPX | Global X Copper Miners ETF | 48.8% | +18 bp | -1.6% |
| COPA | Themes Copper Miners ETF | 44.7% | -12 bp | -2.8% |
| GMET | VanEck Green Metals ETF | 37.5% | +16 bp | -5.8% |
| PICK | iShares MSCI Global Metals & Mining Producers ETF | 30.0% | -8 bp | +1.9% |
| BATT | Amplify Lithium & Battery Technology ETF | 26.6% | +12 bp | -4.0% |
| EV | Mast Global Battery Recycling & Production ETF | 23.0% | +18 bp | -0.5% |
| MXI | iShares Global Materials ETF | 21.8% | -6 bp | -0.2% |
| EART | Global X Rare Earth & Critical Materials ETF | 19.8% | +12 bp | -1.2% |
| SETM | Sprott Energy Transition Materials ETF | 17.5% | +18 bp | -4.4% |
| JIVE | JPMorgan International Value ETF | 16.3% | +8 bp | +3.3% |
Risk and Returns: ICOP vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates (USD)
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | ||
|---|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- | ||
| Book value per share | -- | -- | -- | -- | -- | -- | -- | ||
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
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Valuation Metrics
| Fwd Est | 2025 | 2026 | 2027 | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 3/20/2026
Peer Group Comparison Sample data. Subscribe for access.
Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
6.2%
ALTAR SCORE™
72nd
PERCENTILE
OVERWEIGHT
ETFRC RATING
There are 567 funds in the Global Equity category with an average
ALTAR Score™ of 4.7% and a standard deviation
of 2.7%. ICOP's ALTAR Score™ is approximately 0.6 standard
deviations above the category average. This places ICOP in the 72nd percentile
among funds in the category.
Sell-Side Consensus
$52.52
PRICE TARGET
+18.9%
UPSIDE