ERO vs. ICOP
ERO (Ero Copper Corp) is a stock, while ICOP (iShares Copper and Metals Mining ETF) is Copper fund tracking the STOXX Global Copper and Metals Mining Index. Over the past 3 years, ERO returned 15.10%/yr vs 32.78%/yr for ICOP. A 0.80 correlation means they provide meaningful diversification when combined.
Performance
ERO vs. ICOP - Performance Comparison
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Returns By Period
In the year-to-date period, ERO achieves a 7.64% return, which is significantly lower than ICOP's 20.35% return.
ERO
- 1D
- 2.35%
- 1M
- 12.86%
- YTD
- 7.64%
- 6M
- 13.49%
- 1Y
- 99.80%
- 3Y*
- 15.10%
- 5Y*
- 7.76%
- 10Y*
- —
ICOP
- 1D
- -1.49%
- 1M
- 2.28%
- YTD
- 20.35%
- 6M
- 20.43%
- 1Y
- 94.43%
- 3Y*
- 32.78%
- 5Y*
- —
- 10Y*
- —
ERO vs. ICOP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ERO Ero Copper Corp | 7.64% | 109.87% | -14.63% | -22.10% |
ICOP iShares Copper and Metals Mining ETF | 20.35% | 78.01% | 1.10% | 8.08% |
Correlation
The correlation between ERO and ICOP is 0.78, 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 | 0.78 |
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 | 0.80 |
The correlation between ERO and ICOP has been stable across timeframes, ranging from 0.78 to 0.80 - a consistent structural relationship.
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Return for Risk
ERO vs. ICOP — Risk / Return Rank
ERO
ICOP
ERO vs. ICOP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ero Copper Corp (ERO) 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.
| ERO | ICOP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.68 | ||
| Sortino ratioReturn per unit of downside risk | -0.64 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.37 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.64 | 3.63 | -0.99 |
| Martin ratioReturn relative to average drawdown | 5.57 | 12.87 | -7.30 |
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Drawdowns
ERO vs. ICOP - Drawdown Comparison
The maximum ERO drawdown since its inception was -67.17%, which is greater than ICOP's maximum drawdown of -38.67%. Use the drawdown chart below to compare losses from any high point for ERO and ICOP.
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Drawdown Indicators
| ERO | ICOP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -67.17% | -38.67% | -28.50% |
Max Drawdown (1Y)Largest decline over 1 year | -37.97% | -26.13% | -11.84% |
Max Drawdown (3Y)Largest decline over 3 years | -59.84% | -38.67% | -21.17% |
Max Drawdown (5Y)Largest decline over 5 years | -61.02% | — | — |
Current DrawdownCurrent decline from peak | -19.93% | -8.56% | -11.37% |
Average DrawdownAverage peak-to-trough decline | -27.02% | -11.60% | -15.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 17.98% | 7.36% | +10.62% |
Volatility
ERO vs. ICOP - Volatility Comparison
Ero Copper Corp (ERO) has a higher volatility of 24.57% compared to iShares Copper and Metals Mining ETF (ICOP) at 15.37%. This indicates that ERO's price experiences larger fluctuations and is considered to be riskier 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
| ERO | ICOP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.57% | 15.37% | +9.20% |
Volatility (6M)Calculated over the trailing 6-month period | 47.54% | 34.55% | +12.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.85% | 39.35% | +18.50% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 54.84% | 34.32% | +20.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 59.35% | 34.32% | +25.03% |
Dividends
ERO vs. ICOP - Dividend Comparison
ERO has not paid dividends to shareholders, while ICOP's dividend yield for the trailing twelve months is around 1.68%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
ERO Ero Copper Corp | 0.00% | 0.00% | 0.00% | 0.00% |
ICOP iShares Copper and Metals Mining ETF | 1.68% | 2.08% | 1.87% | 2.15% |
Frequently Asked Questions
ERO and ICOP have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ERO has higher volatility (24.57%) compared to ICOP (15.37%). In terms of maximum drawdown, ERO dropped -67.17% vs ICOP's -38.67%.
ICOP currently has the higher Sharpe Ratio (2.42 vs 1.74), 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.
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