COPZ vs. ICOP
COPZ (Defiance Daily Target 2X Long Copper ETF) and ICOP (iShares Copper and Metals Mining ETF) are both Copper funds. COPZ is actively managed, while ICOP is passively managed. With a 0.97 correlation, they move nearly in lockstep. COPZ charges 0.95%/yr vs 0.47%/yr for ICOP.
Performance
COPZ vs. ICOP - Performance Comparison
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Returns By Period
COPZ
- 1D
- -2.52%
- 1M
- 2.06%
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ICOP
- 1D
- -1.34%
- 1M
- 3.52%
- YTD
- 22.16%
- 6M
- 25.91%
- 1Y
- 97.36%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
COPZ vs. ICOP - Yearly Performance Comparison
| 2026 (YTD) | |
|---|---|
COPZ Defiance Daily Target 2X Long Copper ETF | -17.41% |
ICOP iShares Copper and Metals Mining ETF | 4.48% |
Correlation
The correlation between COPZ and ICOP is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Feb 18, 2026 | 0.97 |
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Return for Risk
COPZ vs. ICOP — Risk / Return Rank
COPZ
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ICOP
COPZ vs. ICOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Defiance Daily Target 2X Long Copper ETF (COPZ) 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.
| COPZ | ICOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 3.54 | — |
| Martin ratioReturn relative to average drawdown | — | 12.58 | — |
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Drawdowns
COPZ vs. ICOP - Drawdown Comparison
The maximum COPZ drawdown since its inception was -49.79%, which is greater than ICOP's maximum drawdown of -38.67%. Use the drawdown chart below to compare losses from any high point for COPZ and ICOP.
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Drawdown Indicators
| COPZ | ICOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.79% | -38.67% | -11.12% |
Max Drawdown (1Y)Largest decline over 1 year | — | -26.13% | — |
Current DrawdownCurrent decline from peak | -31.76% | -7.18% | -24.58% |
Average DrawdownAverage peak-to-trough decline | -28.67% | -11.61% | -17.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 7.34% | — |
Volatility
COPZ vs. ICOP - Volatility Comparison
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Volatility by Period
| COPZ | ICOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 15.52% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 34.51% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 110.12% | 39.35% | +70.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 110.12% | 34.33% | +75.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 110.12% | 34.33% | +75.79% |
COPZ vs. ICOP - Expense Ratio Comparison
COPZ has a 0.95% expense ratio, which is higher than ICOP's 0.47% expense ratio.
Dividends
COPZ vs. ICOP - Dividend Comparison
COPZ has not paid dividends to shareholders, while ICOP's dividend yield for the trailing twelve months is around 1.66%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
COPZ Defiance Daily Target 2X Long Copper ETF | 0.00% | 0.00% | 0.00% | 0.00% |
ICOP iShares Copper and Metals Mining ETF | 1.66% | 2.08% | 1.87% | 2.15% |
Frequently Asked Questions
With a correlation of 0.97, COPZ and ICOP 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.
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 0.95% for COPZ.
ICOP has the higher dividend yield at 1.66%, compared with 0.00% for COPZ.
They also come from different issuers: Defiance and iShares. Their fees differ too: 0.95% for COPZ and 0.47% for ICOP.
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