ICOP vs. EMET
ICOP (iShares Copper and Metals Mining ETF) and EMET (VanEck Copper and Green Metals ETF) are both Copper funds - ICOP tracks the STOXX Global Copper and Metals Mining Index while EMET tracks the MVIS Global Clean-Tech Metals Index. Both are passively managed. Over the past 3 years, ICOP returned 30.39%/yr vs 18.09%/yr for EMET. Their correlation of 0.93 suggests significant overlap in exposure. ICOP charges 0.47%/yr vs 0.61%/yr for EMET.
Performance
ICOP vs. EMET - Performance Comparison
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Returns By Period
In the year-to-date period, ICOP achieves a 13.96% return, which is significantly higher than EMET's 11.62% return.
ICOP
- 1D
- -5.31%
- 1M
- -3.15%
- YTD
- 13.96%
- 6M
- 12.44%
- 1Y
- 82.41%
- 3Y*
- 30.39%
- 5Y*
- —
- 10Y*
- —
EMET
- 1D
- -5.73%
- 1M
- -5.77%
- YTD
- 11.62%
- 6M
- 11.02%
- 1Y
- 87.54%
- 3Y*
- 18.09%
- 5Y*
- —
- 10Y*
- —
ICOP vs. EMET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ICOP iShares Copper and Metals Mining ETF | 13.96% | 78.01% | 1.10% | 8.08% |
EMET VanEck Copper and Green Metals ETF | 11.62% | 81.22% | -12.81% | -9.02% |
Correlation
The correlation between ICOP and EMET is 0.93, 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 | 0.93 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023 | 0.93 |
The correlation between ICOP and EMET has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.
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Return for Risk
ICOP vs. EMET — Risk / Return Rank
ICOP
EMET
ICOP vs. EMET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Copper and Metals Mining ETF (ICOP) and VanEck Copper and Green Metals ETF (EMET). 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 | EMET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.17 | ||
| Omega ratioGain probability vs. loss probability | 1.33 | 1.36 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.17 | 3.44 | -0.27 |
| Martin ratioReturn relative to average drawdown | 11.16 | 11.10 | +0.06 |
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Drawdowns
ICOP vs. EMET - Drawdown Comparison
The maximum ICOP drawdown since its inception was -38.67%, smaller than the maximum EMET drawdown of -53.05%. Use the drawdown chart below to compare losses from any high point for ICOP and EMET.
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Drawdown Indicators
| ICOP | EMET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.67% | -53.05% | +14.38% |
Max Drawdown (1Y)Largest decline over 1 year | -26.13% | -25.58% | -0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -38.67% | -40.50% | +1.83% |
Current DrawdownCurrent decline from peak | -13.41% | -15.40% | +1.99% |
Average DrawdownAverage peak-to-trough decline | -11.61% | -24.65% | +13.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.41% | 7.91% | -0.50% |
Volatility
ICOP vs. EMET - Volatility Comparison
iShares Copper and Metals Mining ETF (ICOP) and VanEck Copper and Green Metals ETF (EMET) have volatilities of 16.27% and 15.63%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICOP | EMET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.27% | 15.63% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 35.00% | 33.60% | +1.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.67% | 38.24% | +1.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.44% | 33.37% | +1.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.44% | 33.37% | +1.07% |
ICOP vs. EMET - Expense Ratio Comparison
ICOP has a 0.47% expense ratio, which is lower than EMET's 0.61% expense ratio.
Dividends
ICOP vs. EMET - Dividend Comparison
ICOP's dividend yield for the trailing twelve months is around 1.78%, more than EMET's 1.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
EMET VanEck Copper and Green Metals ETF | 1.65% | 1.84% | 1.89% | 2.02% | 2.56% |
ICOP iShares Copper and Metals Mining ETF | 1.78% | 2.08% | 1.87% | 2.15% | 0.00% |
Frequently Asked Questions
With a correlation of 0.93, ICOP and EMET 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.
ICOP has higher volatility (16.27%) compared to EMET (15.63%). In terms of maximum drawdown, ICOP dropped -38.67% vs EMET's -53.05%.
On 3-year performance, ICOP leads with 30.39% vs 18.09% for EMET. On fees, ICOP is cheaper at 0.47% per year. On volatility, EMET has been the lower-risk option at 15.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, ICOP has performed better with a 30.39% return vs 18.09%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ICOP is cheaper with a 0.47% expense ratio, compared with 0.61% for EMET.
ICOP has the higher dividend yield at 1.78%, compared with 1.65% for EMET.
ICOP tracks STOXX Global Copper and Metals Mining Index, while EMET tracks MVIS Global Clean-Tech Metals Index. They also come from different issuers: iShares and VanEck. Their fees differ too: 0.47% for ICOP and 0.61% for EMET.
EMET currently has the higher Sharpe Ratio (2.30 vs 2.09), 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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