ICOP vs. SCCO
ICOP (iShares Copper and Metals Mining ETF) is Copper fund tracking the STOXX Global Copper and Metals Mining Index, while SCCO (Southern Copper Corporation) is a stock. Over the past 3 years, ICOP returned 32.78%/yr vs 45.44%/yr for SCCO. Their correlation of 0.88 suggests significant overlap in exposure.
Performance
ICOP vs. SCCO - Performance Comparison
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Returns By Period
In the year-to-date period, ICOP achieves a 20.35% return, which is significantly lower than SCCO's 36.12% return.
ICOP
- 1D
- -1.49%
- 1M
- 2.28%
- YTD
- 20.35%
- 6M
- 20.43%
- 1Y
- 94.43%
- 3Y*
- 32.78%
- 5Y*
- —
- 10Y*
- —
SCCO
- 1D
- -1.57%
- 1M
- 5.70%
- YTD
- 36.12%
- 6M
- 32.69%
- 1Y
- 115.90%
- 3Y*
- 45.44%
- 5Y*
- 31.42%
- 10Y*
- 27.52%
ICOP vs. SCCO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
ICOP iShares Copper and Metals Mining ETF | 20.35% | 78.01% | 1.10% | 8.08% |
SCCO Southern Copper Corporation | 36.12% | 66.62% | 9.45% | 19.64% |
Correlation
The correlation between ICOP and SCCO is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2023 | 0.88 |
The correlation between ICOP and SCCO has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.
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Return for Risk
ICOP vs. SCCO — Risk / Return Rank
ICOP
SCCO
ICOP vs. SCCO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares Copper and Metals Mining ETF (ICOP) and Southern Copper Corporation (SCCO). 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 | SCCO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.07 | ||
| Sortino ratioReturn per unit of downside risk | +0.03 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.34 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 3.63 | 3.86 | -0.22 |
| Martin ratioReturn relative to average drawdown | 12.87 | 10.88 | +1.99 |
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Drawdowns
ICOP vs. SCCO - Drawdown Comparison
The maximum ICOP drawdown since its inception was -38.67%, smaller than the maximum SCCO drawdown of -78.60%. Use the drawdown chart below to compare losses from any high point for ICOP and SCCO.
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Drawdown Indicators
| ICOP | SCCO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.67% | -78.60% | +39.93% |
Max Drawdown (1Y)Largest decline over 1 year | -26.13% | -30.22% | +4.09% |
Max Drawdown (3Y)Largest decline over 3 years | -38.67% | -39.69% | +1.02% |
Max Drawdown (5Y)Largest decline over 5 years | — | -43.07% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -54.83% | — |
Current DrawdownCurrent decline from peak | -8.56% | -11.90% | +3.34% |
Average DrawdownAverage peak-to-trough decline | -11.60% | -22.03% | +10.43% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.36% | 10.69% | -3.33% |
Volatility
ICOP vs. SCCO - Volatility Comparison
The current volatility for iShares Copper and Metals Mining ETF (ICOP) is 15.37%, while Southern Copper Corporation (SCCO) has a volatility of 18.62%. This indicates that ICOP experiences smaller price fluctuations and is considered to be less risky than SCCO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ICOP | SCCO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 15.37% | 18.62% | -3.25% |
Volatility (6M)Calculated over the trailing 6-month period | 34.55% | 41.41% | -6.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 39.35% | 49.73% | -10.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.32% | 39.86% | -5.54% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.32% | 37.55% | -3.23% |
Dividends
ICOP vs. SCCO - Dividend Comparison
ICOP's dividend yield for the trailing twelve months is around 1.68%, less than SCCO's 1.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICOP iShares Copper and Metals Mining ETF | 1.68% | 2.08% | 1.87% | 2.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SCCO Southern Copper Corporation | 1.92% | 2.13% | 2.29% | 4.65% | 5.80% | 5.19% | 2.30% | 4.81% | 4.55% | 1.24% | 0.56% | 1.30% |
Frequently Asked Questions
ICOP and SCCO have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SCCO has higher volatility (18.62%) compared to ICOP (15.37%). In terms of maximum drawdown, ICOP dropped -38.67% vs SCCO's -78.60%.
ICOP currently has the higher Sharpe Ratio (2.42 vs 2.35), 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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