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COPM.AS vs. ICLN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

COPM.AS vs. ICLN

Last updated Jun 24, 2026

COPM.AS (iShares Copper Miners UCITS ETF) and ICLN (iShares Global Clean Energy ETF) are both exchange-traded funds - COPM.AS is a Copper fund tracking the STOXX Global Copper Miners Index, while ICLN is a Alternative Energy Equities fund tracking the S&P Global Clean Energy Index. Both are passively managed. Over the past 3 years, COPM.AS returned 32.38%/yr vs 6.74%/yr for ICLN. At a 0.42 correlation, their price movements are largely independent. COPM.AS charges 0.55%/yr vs 0.39%/yr for ICLN.

Performance

COPM.AS vs. ICLN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Copper Miners UCITS ETF (COPM.AS) and iShares Global Clean Energy ETF (ICLN). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, COPM.AS achieves a 19.91% return, which is significantly lower than ICLN's 26.14% return.

COPM.AS

1D
0.00%
1M
2.17%
YTD
19.91%
6M
19.83%
1Y
98.53%
3Y*
32.38%
5Y*
—
10Y*
—

ICLN

1D
-4.44%
1M
-7.52%
YTD
26.14%
6M
25.31%
1Y
64.46%
3Y*
6.74%
5Y*
-0.79%
10Y*
11.38%
*Multi-year figures are annualized to reflect compound growth (CAGR)

COPM.AS vs. ICLN - Yearly Performance Comparison

2026 (YTD)202520242023
COPM.AS
iShares Copper Miners UCITS ETF		19.91%82.17%0.45%2.49%
ICLN
iShares Global Clean Energy ETF		26.14%47.05%-25.72%-14.57%

Correlation

The correlation between COPM.AS and ICLN is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.43

Correlation (3Y)
Calculated over the trailing 3-year period

0.41

Correlation (All Time)
Calculated using the full available price history since Jun 21, 2023

0.42

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

iShares Copper Miners UCITS ETF

iShares Global Clean Energy ETF

Often compared with COPM.AS:
COPM.AS vs. CNDX.ASCOPM.AS vs. COPXCOPM.AS vs. ICOPCOPM.AS vs. AMEL.DECOPM.AS vs. IWDA.ASCOPM.AS vs. EUEA.ASCOPM.AS vs. BRNT.L
Often compared with ICLN:
ICLN vs. TANICLN vs. QCLNICLN vs. GRIDICLN vs. INRG.LICLN vs. PBWICLN vs. CNRGICLN vs. LIT

Return for Risk

COPM.AS vs. ICLN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
COPM.AS
COPM.AS Risk / Return Rank: 7777
Overall Rank
COPM.AS Sharpe Ratio Rank: 8585
Sharpe Ratio Rank
COPM.AS Sortino Ratio Rank: 7575
Sortino Ratio Rank
COPM.AS Omega Ratio Rank: 6868
Omega Ratio Rank
COPM.AS Calmar Ratio Rank: 8181
Calmar Ratio Rank
COPM.AS Martin Ratio Rank: 7777
Martin Ratio Rank
ICLN
ICLN Risk / Return Rank: 7070
Overall Rank
ICLN Sharpe Ratio Rank: 7474
Sharpe Ratio Rank
ICLN Sortino Ratio Rank: 6464
Sortino Ratio Rank
ICLN Omega Ratio Rank: 6060
Omega Ratio Rank
ICLN Calmar Ratio Rank: 7979
Calmar Ratio Rank
ICLN Martin Ratio Rank: 7575
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

COPM.AS vs. ICLN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Copper Miners UCITS ETF (COPM.AS) and iShares Global Clean Energy ETF (ICLN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

COPM.ASICLNDifference
Sharpe ratioReturn per unit of total volatility
2.50
2.27

+0.23

Sortino ratioReturn per unit of downside risk
3.05
2.84

+0.22

Omega ratioGain probability vs. loss probability

1.37

1.36

+0.02

Calmar ratioReturn relative to maximum drawdown

3.87

3.96

-0.09

Martin ratioReturn relative to average drawdown

13.44

13.73

-0.29

COPM.AS vs. ICLN - Sharpe Ratio Comparison

The current COPM.AS Sharpe Ratio is 2.50, which is comparable to the ICLN Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of COPM.AS and ICLN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

COPM.AS vs. ICLN - Drawdown Comparison

The maximum COPM.AS drawdown since its inception was -37.12%, smaller than the maximum ICLN drawdown of -87.15%. Use the drawdown chart below to compare losses from any high point for COPM.AS and ICLN.

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Drawdown Indicators

COPM.ASICLNDifference

Max Drawdown

Largest peak-to-trough decline

-37.12%

-87.15%

+50.03%

Max Drawdown (1Y)

Largest decline over 1 year

-25.05%

-16.38%

-8.67%

Max Drawdown (3Y)

Largest decline over 3 years

-37.12%

-43.18%

+6.06%

Max Drawdown (5Y)

Largest decline over 5 years

—

-57.16%

—

Max Drawdown (10Y)

Largest decline over 10 years

—

-66.75%

—

Current Drawdown

Current decline from peak

-8.46%

-43.56%

+35.10%

Average Drawdown

Average peak-to-trough decline

-11.49%

-66.53%

+55.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

7.26%

4.71%

+2.55%

Volatility

COPM.AS vs. ICLN - Volatility Comparison

iShares Copper Miners UCITS ETF (COPM.AS) and iShares Global Clean Energy ETF (ICLN) have volatilities of 13.35% and 13.47%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

COPM.ASICLNDifference

Volatility (1M)

Calculated over the trailing 1-month period

13.35%

13.47%

-0.12%

Volatility (6M)

Calculated over the trailing 6-month period

33.27%

23.14%

+10.13%

Volatility (1Y)

Calculated over the trailing 1-year period

38.76%

28.52%

+10.24%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

33.50%

27.69%

+5.81%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

33.50%

27.33%

+6.17%

COPM.AS vs. ICLN - Expense Ratio Comparison

COPM.AS has a 0.55% expense ratio, which is higher than ICLN's 0.39% expense ratio.

Dividends

COPM.AS vs. ICLN - Dividend Comparison

COPM.AS has not paid dividends to shareholders, while ICLN's dividend yield for the trailing twelve months is around 0.89%.

PositionTTM20252024202320222021202020192018201720162015
COPM.AS
iShares Copper Miners UCITS ETF		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
ICLN
iShares Global Clean Energy ETF		0.89%1.63%1.85%1.59%0.89%1.18%0.34%1.36%2.77%2.49%3.88%2.36%

Frequently Asked Questions

COPM.AS and ICLN have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, ICLN is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

ICLN is cheaper with a 0.39% expense ratio, compared with 0.55% for COPM.AS.

COPM.AS is categorized as Copper, while ICLN is Alternative Energy Equities. COPM.AS tracks STOXX Global Copper Miners Index, while ICLN tracks S&P Global Clean Energy Index. Their fees differ too: 0.55% for COPM.AS and 0.39% for ICLN.

Portfolio Optimizer

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