COPM.AS vs. ICOP
COPM.AS (iShares Copper Miners UCITS ETF) and ICOP (iShares Copper and Metals Mining ETF) are both Copper funds from iShares - COPM.AS tracks the STOXX Global Copper Miners Index while ICOP tracks the STOXX Global Copper and Metals Mining Index. Both are passively managed. Over the past 3 years, COPM.AS returned 32.38%/yr vs 30.39%/yr for ICOP. A 0.79 correlation means they provide meaningful diversification when combined. COPM.AS charges 0.55%/yr vs 0.47%/yr for ICOP.
Performance
COPM.AS vs. ICOP - Performance Comparison
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Returns By Period
In the year-to-date period, COPM.AS achieves a 19.91% return, which is significantly higher than ICOP's 13.96% return.
COPM.AS
- 1D
- 0.00%
- 1M
- 2.17%
- YTD
- 19.91%
- 6M
- 19.83%
- 1Y
- 98.53%
- 3Y*
- 32.38%
- 5Y*
- —
- 10Y*
- —
ICOP
- 1D
- -5.31%
- 1M
- -3.15%
- YTD
- 13.96%
- 6M
- 12.44%
- 1Y
- 82.41%
- 3Y*
- 30.39%
- 5Y*
- —
- 10Y*
- —
COPM.AS vs. ICOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
COPM.AS iShares Copper Miners UCITS ETF | 19.91% | 82.17% | 0.45% | 3.12% |
ICOP iShares Copper and Metals Mining ETF | 13.96% | 78.01% | 1.10% | 8.08% |
Correlation
The correlation between COPM.AS and ICOP is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.80 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023 | 0.79 |
The correlation between COPM.AS and ICOP has been stable across timeframes, ranging from 0.79 to 0.80 - a consistent structural relationship.
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Return for Risk
COPM.AS vs. ICOP — Risk / Return Rank
COPM.AS
ICOP
COPM.AS vs. ICOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Copper Miners UCITS ETF (COPM.AS) and iShares Copper and Metals Mining ETF (ICOP). 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.AS | ICOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.41 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.33 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 3.87 | 3.17 | +0.70 |
| Martin ratioReturn relative to average drawdown | 13.44 | 11.16 | +2.28 |
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Drawdowns
COPM.AS vs. ICOP - Drawdown Comparison
The maximum COPM.AS drawdown since its inception was -37.12%, roughly equal to the maximum ICOP drawdown of -38.67%. Use the drawdown chart below to compare losses from any high point for COPM.AS and ICOP.
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Drawdown Indicators
| COPM.AS | ICOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -37.12% | -38.67% | +1.55% |
Max Drawdown (1Y)Largest decline over 1 year | -25.05% | -26.13% | +1.08% |
Max Drawdown (3Y)Largest decline over 3 years | -37.12% | -38.67% | +1.55% |
Current DrawdownCurrent decline from peak | -8.46% | -13.41% | +4.95% |
Average DrawdownAverage peak-to-trough decline | -11.49% | -11.61% | +0.12% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.26% | 7.41% | -0.15% |
Volatility
COPM.AS vs. ICOP - Volatility Comparison
The current volatility for iShares Copper Miners UCITS ETF (COPM.AS) is 13.35%, while iShares Copper and Metals Mining ETF (ICOP) has a volatility of 16.27%. This indicates that COPM.AS experiences smaller price fluctuations and is considered to be less risky than ICOP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| COPM.AS | ICOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.35% | 16.27% | -2.92% |
Volatility (6M)Calculated over the trailing 6-month period | 33.27% | 35.00% | -1.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 38.76% | 39.67% | -0.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.50% | 34.44% | -0.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 33.50% | 34.44% | -0.94% |
COPM.AS vs. ICOP - Expense Ratio Comparison
COPM.AS has a 0.55% expense ratio, which is higher than ICOP's 0.47% expense ratio.
Dividends
COPM.AS vs. ICOP - Dividend Comparison
COPM.AS has not paid dividends to shareholders, while ICOP's dividend yield for the trailing twelve months is around 1.78%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
COPM.AS iShares Copper Miners UCITS ETF | 0.00% | 0.00% | 0.00% | 0.00% |
ICOP iShares Copper and Metals Mining ETF | 1.78% | 2.08% | 1.87% | 2.15% |
Frequently Asked Questions
COPM.AS and ICOP have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ICOP is cheaper at 0.47% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ICOP is cheaper with a 0.47% expense ratio, compared with 0.55% for COPM.AS.
COPM.AS tracks STOXX Global Copper Miners Index, while ICOP tracks STOXX Global Copper and Metals Mining Index. Their fees differ too: 0.55% for COPM.AS and 0.47% for ICOP.
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