ICOP vs. COPJ

Last updated Jun 23, 2026

ICOP (iShares Copper and Metals Mining ETF) and COPJ (Sprott Junior Copper Miners ETF) are both Copper funds - ICOP tracks the STOXX Global Copper and Metals Mining Index while COPJ tracks the Nasdaq Sprott Junior Copper Miners Index. Both are passively managed. Over the past 3 years, ICOP returned 32.78%/yr vs 41.38%/yr for COPJ. Their correlation of 0.84 suggests significant overlap in exposure. ICOP charges 0.47%/yr vs 0.78%/yr for COPJ.

Performance

ICOP vs. COPJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Copper and Metals Mining ETF (ICOP) and Sprott Junior Copper Miners ETF (COPJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICOP achieves a 20.35% return, which is significantly higher than COPJ's 5.68% return.

ICOP

• 1D: -1.49%
• 1M: 2.28%
• YTD: 20.35%
• 6M: 20.43%
• 1Y: 94.43%
• 3Y*: 32.78%
• 5Y*: —
• 10Y*: —

COPJ

• 1D: -2.31%
• 1M: -1.05%
• YTD: 5.68%
• 6M: 8.15%
• 1Y: 91.57%
• 3Y*: 41.38%
• 5Y*: —
• 10Y*: —

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

ICOP vs. COPJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
ICOP iShares Copper and Metals Mining ETF	20.35%	78.01%	1.10%	8.08%
COPJ Sprott Junior Copper Miners ETF	5.68%	140.63%	11.07%	-1.76%

Correlation

The correlation between ICOP and COPJ is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023	0.84

The correlation between ICOP and COPJ has been stable across timeframes, ranging from 0.84 to 0.84 - a consistent structural relationship.

ICOP vs. COPJ - Sectors Allocation Comparison

Sectors	ICOP	COPJ
Basic Materials	100.0%	100.0%
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Financial Services	-	-
Healthcare	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	3.6%
Utilities	-	-

Return for Risk

ICOP vs. COPJ — Risk / Return Rank

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

ICOP

ICOP Risk / Return Rank: 70
ICOP Sharpe Ratio Rank: 79
ICOP Sortino Ratio Rank: 61
ICOP Omega Ratio Rank: 65
ICOP Calmar Ratio Rank: 74
ICOP Martin Ratio Rank: 71

COPJ

COPJ Risk / Return Rank: 56
COPJ Sharpe Ratio Rank: 64
COPJ Sortino Ratio Rank: 51
COPJ Omega Ratio Rank: 55
COPJ Calmar Ratio Rank: 59
COPJ Martin Ratio Rank: 48

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.

ICOP vs. COPJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Copper and Metals Mining ETF (ICOP) and Sprott Junior Copper Miners ETF (COPJ). 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.

	ICOP	COPJ	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.05	+0.36
Sortino ratio: Return per unit of downside risk	2.78	2.41	+0.36
Omega ratio: Gain probability vs. loss probability	1.37	1.33	+0.04
Calmar ratio: Return relative to maximum drawdown	3.63	2.85	+0.78
Martin ratio: Return relative to average drawdown	12.87	7.83	+5.04

ICOP vs. COPJ - Sharpe Ratio Comparison

The current ICOP Sharpe Ratio is 2.42, which is comparable to the COPJ Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of ICOP and COPJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ICOP vs. COPJ - Drawdown Comparison

The maximum ICOP drawdown since its inception was -38.67%, which is greater than COPJ's maximum drawdown of -32.28%. Use the drawdown chart below to compare losses from any high point for ICOP and COPJ.

Drawdown Indicators

	ICOP	COPJ	Difference
Max Drawdown Largest peak-to-trough decline	-38.67%	-32.28%	-6.39%
Max Drawdown (1Y) Largest decline over 1 year	-26.13%	-32.28%	+6.15%
Max Drawdown (3Y) Largest decline over 3 years	-38.67%	-32.28%	-6.39%
Current Drawdown Current decline from peak	-8.56%	-19.22%	+10.66%
Average Drawdown Average peak-to-trough decline	-11.60%	-11.99%	+0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.36%	11.74%	-4.38%

Volatility

ICOP vs. COPJ - Volatility Comparison

The current volatility for iShares Copper and Metals Mining ETF (ICOP) is 15.37%, while Sprott Junior Copper Miners ETF (COPJ) has a volatility of 18.92%. This indicates that ICOP experiences smaller price fluctuations and is considered to be less risky than COPJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ICOP	COPJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	15.37%	18.92%	-3.55%
Volatility (6M) Calculated over the trailing 6-month period	34.55%	38.53%	-3.98%
Volatility (1Y) Calculated over the trailing 1-year period	39.35%	44.93%	-5.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.32%	35.58%	-1.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.32%	35.58%	-1.26%

ICOP vs. COPJ - Expense Ratio Comparison

ICOP has a 0.47% expense ratio, which is lower than COPJ's 0.78% expense ratio.

Dividends

ICOP vs. COPJ - Dividend Comparison

ICOP's dividend yield for the trailing twelve months is around 1.68%, less than COPJ's 10.95% yield.

Position	TTM	2025	2024	2023
COPJ Sprott Junior Copper Miners ETF	10.95%	11.57%	11.64%	2.48%
ICOP iShares Copper and Metals Mining ETF	1.68%	2.08%	1.87%	2.15%

Frequently Asked Questions

Can I hold both ICOP and COPJ in my portfolio?

ICOP and COPJ have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ICOP or COPJ?

COPJ has higher volatility (18.92%) compared to ICOP (15.37%). In terms of maximum drawdown, ICOP dropped -38.67% vs COPJ's -32.28%.

Which ETF is better, ICOP or COPJ?

On 3-year performance, COPJ leads with 41.38% vs 32.78% for ICOP. On fees, ICOP is cheaper at 0.47% per year. On volatility, ICOP has been the lower-risk option at 15.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ICOP or COPJ?

Over the 3-year period, COPJ has performed better with a 41.38% return vs 32.78%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ICOP or COPJ?

ICOP is cheaper with a 0.47% expense ratio, compared with 0.78% for COPJ.

Which ETF pays a higher dividend yield, ICOP or COPJ?

COPJ has the higher dividend yield at 10.95%, compared with 1.68% for ICOP.

What is the main difference between ICOP and COPJ?

ICOP tracks STOXX Global Copper and Metals Mining Index, while COPJ tracks Nasdaq Sprott Junior Copper Miners Index. They also come from different issuers: iShares and Sprott. Their fees differ too: 0.47% for ICOP and 0.78% for COPJ.

Which has better risk-adjusted returns?

ICOP currently has the higher Sharpe Ratio (2.42 vs 2.05), 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.