COPX vs. PICK

Last updated Jun 4, 2026

COPX (Global X Copper Miners ETF) and PICK (iShares MSCI Global Select Metals & Mining Producers ETF) are both Materials funds - COPX tracks the Solactive Global Copper Miners Total Return Index while PICK tracks the MSCI ACWI Select Metals & Mining Producers Ex Gold & Silver Investable Market Index. Both are passively managed. Over the past 10 years, COPX returned 21.95%/yr vs 17.67%/yr for PICK. Their correlation of 0.87 suggests significant overlap in exposure. COPX charges 0.65%/yr vs 0.39%/yr for PICK.

Performance

COPX vs. PICK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Copper Miners ETF (COPX) and iShares MSCI Global Select Metals & Mining Producers ETF (PICK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COPX achieves a 25.71% return, which is significantly lower than PICK's 30.58% return. Over the past 10 years, COPX has outperformed PICK with an annualized return of 21.95%, while PICK has yielded a comparatively lower 17.67% annualized return.

COPX

• 1D: -3.64%
• 1M: 17.74%
• YTD: 25.71%
• 6M: 36.90%
• 1Y: 120.82%
• 3Y*: 37.36%
• 5Y*: 19.87%
• 10Y*: 21.95%

PICK

• 1D: -2.74%
• 1M: 11.27%
• YTD: 30.58%
• 6M: 38.84%
• 1Y: 88.13%
• 3Y*: 22.92%
• 5Y*: 11.78%
• 10Y*: 17.67%

*Multi-year figures are annualized to reflect compound growth (CAGR)

COPX vs. PICK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
COPX Global X Copper Miners ETF	25.71%	93.50%	3.57%	8.38%	-0.76%	23.39%	51.66%	12.48%	-31.31%	38.92%
PICK iShares MSCI Global Select Metals & Mining Producers ETF	30.58%	51.89%	-16.37%	9.69%	2.54%	22.61%	27.46%	16.47%	-18.65%	38.42%

Correlation

The correlation between COPX and PICK is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Feb 3, 2012	0.87

The correlation between COPX and PICK has been stable across timeframes, ranging from 0.87 to 0.92 - a consistent structural relationship.

COPX vs. PICK - Sectors Allocation Comparison

Sectors	COPX	PICK
Basic Materials	96.3%	96.6%
Industrials	3.7%	1.1%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	0.1%
Energy	-	0.6%
Financial Services	-	0.1%
Healthcare	-	-
Real Estate	-	-
Technology	-	1.0%
Utilities	-	-

Return for Risk

COPX vs. PICK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

COPX

COPX Risk / Return Rank: 75
COPX Sharpe Ratio Rank: 86
COPX Sortino Ratio Rank: 67
COPX Omega Ratio Rank: 67
COPX Calmar Ratio Rank: 82
COPX Martin Ratio Rank: 73

PICK

PICK Risk / Return Rank: 84
PICK Sharpe Ratio Rank: 90
PICK Sortino Ratio Rank: 79
PICK Omega Ratio Rank: 83
PICK Calmar Ratio Rank: 83
PICK Martin Ratio Rank: 85

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.

COPX vs. PICK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Copper Miners ETF (COPX) and iShares MSCI Global Select Metals & Mining Producers ETF (PICK). 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.

	COPX	PICK	Difference
Sharpe ratio: Return per unit of total volatility	2.93	3.16	-0.22
Sortino ratio: Return per unit of downside risk	3.17	3.63	-0.47
Omega ratio: Gain probability vs. loss probability	1.42	1.51	-0.09
Calmar ratio: Return relative to maximum drawdown	4.37	4.53	-0.17
Martin ratio: Return relative to average drawdown	14.00	18.20	-4.20
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

COPX vs. PICK - Sharpe Ratio Comparison

The current COPX Sharpe Ratio is 2.93, which is comparable to the PICK Sharpe Ratio of 3.16. The chart below compares the historical Sharpe Ratios of COPX and PICK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	COPX	PICK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.93	3.16	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.43	+0.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.62	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.19	0.21	-0.02

Drawdowns

COPX vs. PICK - Drawdown Comparison

The maximum COPX drawdown since its inception was -83.16%, which is greater than PICK's maximum drawdown of -68.87%. Use the drawdown chart below to compare losses from any high point for COPX and PICK.

Drawdown Indicators

	COPX	PICK	Difference
Max Drawdown Largest peak-to-trough decline	-83.16%	-68.87%	-14.29%
Max Drawdown (1Y) Largest decline over 1 year	-27.82%	-19.54%	-8.28%
Max Drawdown (3Y) Largest decline over 3 years	-39.72%	-32.52%	-7.20%
Max Drawdown (5Y) Largest decline over 5 years	-42.12%	-36.37%	-5.75%
Max Drawdown (10Y) Largest decline over 10 years	-65.41%	-52.72%	-12.69%
Current Drawdown Current decline from peak	-5.69%	-2.74%	-2.95%
Average Drawdown Average peak-to-trough decline	-39.30%	-24.12%	-15.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	8.66%	4.86%	+3.80%

Volatility

COPX vs. PICK - Volatility Comparison

Global X Copper Miners ETF (COPX) has a higher volatility of 15.38% compared to iShares MSCI Global Select Metals & Mining Producers ETF (PICK) at 10.99%. This indicates that COPX's price experiences larger fluctuations and is considered to be riskier than PICK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPX	PICK	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.38%	10.99%	+4.39%
Volatility (6M) Calculated over the trailing 6-month period	35.68%	24.11%	+11.57%
Volatility (1Y) Calculated over the trailing 1-year period	41.41%	28.10%	+13.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.51%	27.78%	+8.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.55%	28.37%	+7.18%

COPX vs. PICK - Expense Ratio Comparison

COPX has a 0.65% expense ratio, which is higher than PICK's 0.39% expense ratio.

Dividends

COPX vs. PICK - Dividend Comparison

COPX's dividend yield for the trailing twelve months is around 2.13%, less than PICK's 2.20% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COPX Global X Copper Miners ETF	2.13%	2.68%	1.80%	2.39%	3.14%	1.48%	1.30%	1.37%	2.59%	1.57%	0.60%	1.20%
PICK iShares MSCI Global Select Metals & Mining Producers ETF	2.20%	2.88%	3.26%	4.19%	6.93%	5.89%	2.27%	5.51%	4.77%	2.41%	1.15%	15.77%

Frequently Asked Questions

Can I hold both COPX and PICK in my portfolio?

With a correlation of 0.92, COPX and PICK move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, COPX or PICK?

COPX has higher volatility (15.38%) compared to PICK (10.99%). In terms of maximum drawdown, COPX dropped -83.16% vs PICK's -68.87%.

Which ETF is better, COPX or PICK?

On 10-year performance, COPX leads with 21.95% vs 17.67% for PICK. On fees, PICK is cheaper at 0.39% per year. On volatility, PICK has been the lower-risk option at 10.99%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COPX or PICK?

Over the 10-year period, COPX has performed better with a 21.95% return vs 17.67%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPX or PICK?

PICK is cheaper with a 0.39% expense ratio, compared with 0.65% for COPX.

Which ETF pays a higher dividend yield, COPX or PICK?

PICK has the higher dividend yield at 2.20%, compared with 2.13% for COPX.

What is the main difference between COPX and PICK?

COPX tracks Solactive Global Copper Miners Total Return Index, while PICK tracks MSCI ACWI Select Metals & Mining Producers Ex Gold & Silver Investable Market Index. They also come from different issuers: Global X and iShares. Their fees differ too: 0.65% for COPX and 0.39% for PICK.

Which has better risk-adjusted returns?

PICK currently has the higher Sharpe Ratio (3.15 vs 2.93), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.