ICOP vs. TURF

Last updated Jun 4, 2026

ICOP (iShares Copper and Metals Mining ETF) and TURF (T. Rowe Price Natural Resources ETF) are both Commodity Producers Equities funds. A 0.71 correlation means they provide meaningful diversification when combined. ICOP charges 0.47%/yr vs 0.44%/yr for TURF.

Performance

ICOP vs. TURF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares Copper and Metals Mining ETF (ICOP) and T. Rowe Price Natural Resources ETF (TURF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICOP achieves a 27.29% return, which is significantly higher than TURF's 19.55% return.

ICOP

• 1D: -3.29%
• 1M: 17.09%
• YTD: 27.29%
• 6M: 37.08%
• 1Y: 102.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

TURF

• 1D: -0.82%
• 1M: 0.33%
• YTD: 19.55%
• 6M: 22.12%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ICOP vs. TURF - Yearly Performance Comparison

	2026 (YTD)	2025
ICOP iShares Copper and Metals Mining ETF	27.29%	55.57%
TURF T. Rowe Price Natural Resources ETF	19.55%	17.05%

Correlation

The correlation between ICOP and TURF is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 13, 2025	0.71

ICOP vs. TURF - Sectors Allocation Comparison

Sectors	ICOP	TURF
Basic Materials	100.0%	33.9%
Communication Services	-	3.8%
Consumer Cyclical	-	-
Consumer Defensive	-	8.5%
Energy	-	29.2%
Financial Services	-	2.3%
Healthcare	-	-
Industrials	-	1.6%
Real Estate	-	-
Technology	-	0.4%
Utilities	-	0.3%

Return for Risk

ICOP vs. TURF — Risk / Return Rank

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

ICOP

ICOP Risk / Return Rank: 74
ICOP Sharpe Ratio Rank: 83
ICOP Sortino Ratio Rank: 66
ICOP Omega Ratio Rank: 68
ICOP Calmar Ratio Rank: 77
ICOP Martin Ratio Rank: 75

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. TURF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares Copper and Metals Mining ETF (ICOP) and T. Rowe Price Natural Resources ETF (TURF). 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.

	ICOP	TURF	Difference
Sharpe ratio: Return per unit of total volatility	2.77	—	—
Sortino ratio: Return per unit of downside risk	3.11	—	—
Omega ratio: Gain probability vs. loss probability	1.42	—	—
Calmar ratio: Return relative to maximum drawdown	3.95	—	—
Martin ratio: Return relative to average drawdown	14.50	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ICOP	TURF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.77	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	2.52	-1.44

Drawdowns

ICOP vs. TURF - Drawdown Comparison

The maximum ICOP drawdown since its inception was -38.67%, which is greater than TURF's maximum drawdown of -6.84%. Use the drawdown chart below to compare losses from any high point for ICOP and TURF.

Drawdown Indicators

	ICOP	TURF	Difference
Max Drawdown Largest peak-to-trough decline	-38.67%	-6.84%	-31.83%
Max Drawdown (1Y) Largest decline over 1 year	-26.13%	—	—
Current Drawdown Current decline from peak	-3.29%	-2.54%	-0.75%
Average Drawdown Average peak-to-trough decline	-11.67%	-1.53%	-10.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.10%	—	—

Volatility

Volatility by Period

	ICOP	TURF	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.69%	—	—
Volatility (6M) Calculated over the trailing 6-month period	32.28%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	37.29%	16.50%	+20.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	33.77%	16.50%	+17.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.77%	16.50%	+17.27%

ICOP vs. TURF - Expense Ratio Comparison

ICOP has a 0.47% expense ratio, which is higher than TURF's 0.44% expense ratio.

Dividends

ICOP vs. TURF - Dividend Comparison

ICOP's dividend yield for the trailing twelve months is around 1.63%, more than TURF's 1.25% yield.

Position	TTM	2025	2024	2023
ICOP iShares Copper and Metals Mining ETF	1.63%	2.08%	1.87%	2.15%
TURF T. Rowe Price Natural Resources ETF	1.25%	1.49%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ICOP and TURF in my portfolio?

ICOP and TURF have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ICOP or TURF?

On fees, TURF is cheaper at 0.44% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ICOP or TURF?

TURF is cheaper with a 0.44% expense ratio, compared with 0.47% for ICOP.

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

ICOP has the higher dividend yield at 1.63%, compared with 1.25% for TURF.

What is the main difference between ICOP and TURF?

They also come from different issuers: iShares and T. Rowe Price. Their fees differ too: 0.47% for ICOP and 0.44% for TURF.