SEMI.AS vs. COPX

Last updated Jul 21, 2026

SEMI.AS (iShares MSCI Global Semiconductors UCITS ETF USD Acc) and COPX (Global X Copper Miners ETF) are both exchange-traded funds - SEMI.AS is a Semiconductors fund tracking the MSCI ACWI IMI Semiconductors & Semiconductor Equipment ESG Screened Select Capped Index, while COPX is a Copper fund tracking the Solactive Global Copper Miners Total Return Index. Both are passively managed. Over the past 3 years, SEMI.AS returned 52.51%/yr vs 26.21%/yr for COPX. At a 0.43 correlation, their price movements are largely independent. SEMI.AS charges 0.35%/yr vs 0.65%/yr for COPX.

Performance

SEMI.AS vs. COPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares MSCI Global Semiconductors UCITS ETF USD Acc (SEMI.AS) and Global X Copper Miners ETF (COPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEMI.AS achieves a 77.21% return, which is significantly higher than COPX's 3.23% return.

SEMI.AS

• 1D: 2.15%
• 1M: -16.85%
• 6M: 57.97%
• YTD: 77.21%
• 1Y: 133.42%
• 3Y*: 52.51%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 31.00%

COPX

• 1D: 0.70%
• 1M: -13.30%
• 6M: -8.24%
• YTD: 3.23%
• 1Y: 72.90%
• 3Y*: 26.21%
• 5Y*: 18.50%
• 10Y*: 18.38%
• ALL TIME*: 5.35%

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

SEMI.AS vs. COPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
SEMI.AS iShares MSCI Global Semiconductors UCITS ETF USD Acc	77.21%	52.80%	15.12%	65.80%	-35.80%	14.91%
COPX Global X Copper Miners ETF	3.23%	93.50%	3.57%	8.38%	-0.76%	0.07%

Correlation

The correlation between SEMI.AS and COPX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (All Time) Calculated using the full available price history since Aug 5, 2021	0.43

Return for Risk

SEMI.AS vs. COPX — Risk / Return Rank

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

SEMI.AS

SEMI.AS Risk / Return Rank: 95
SEMI.AS Sharpe Ratio Rank: 97
SEMI.AS Sortino Ratio Rank: 93
SEMI.AS Omega Ratio Rank: 92
SEMI.AS Calmar Ratio Rank: 96
SEMI.AS Martin Ratio Rank: 96

COPX

COPX Risk / Return Rank: 61
COPX Sharpe Ratio Rank: 66
COPX Sortino Ratio Rank: 56
COPX Omega Ratio Rank: 56
COPX Calmar Ratio Rank: 71
COPX Martin Ratio Rank: 54

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.

SEMI.AS vs. COPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares MSCI Global Semiconductors UCITS ETF USD Acc (SEMI.AS) and Global X Copper Miners ETF (COPX). 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.

	SEMI.AS	COPX	Difference
Sharpe ratio: Return per unit of total volatility	3.41	1.61	+1.79
Sortino ratio: Return per unit of downside risk	3.68	2.05	+1.63
Omega ratio: Gain probability vs. loss probability	1.48	1.26	+0.21
Calmar ratio: Return relative to maximum drawdown	6.43	2.63	+3.79
Martin ratio: Return relative to average drawdown	24.70	6.88	+17.82

SEMI.AS vs. COPX - Sharpe Ratio Comparison

The current SEMI.AS Sharpe Ratio is 3.41, which is higher than the COPX Sharpe Ratio of 1.61. The chart below compares the historical Sharpe Ratios of SEMI.AS and COPX, 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

SEMI.AS vs. COPX - Drawdown Comparison

The maximum SEMI.AS drawdown since its inception was -45.27%, smaller than the maximum COPX drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for SEMI.AS and COPX.

Drawdown Indicators

	SEMI.AS	COPX	Difference
Max Drawdown Largest peak-to-trough decline	-45.27%	-83.16%	+37.89%
Max Drawdown (1Y) Largest decline over 1 year	-20.40%	-27.82%	+7.42%
Max Drawdown (3Y) Largest decline over 3 years	-38.23%	-39.72%	+1.49%
Max Drawdown (5Y) Largest decline over 5 years	—	-42.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-65.41%	—
Current Drawdown Current decline from peak	-18.69%	-22.56%	+3.87%
Average Drawdown Average peak-to-trough decline	-13.22%	-39.16%	+25.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.31%	10.63%	-5.32%

Volatility

SEMI.AS vs. COPX - Volatility Comparison

iShares MSCI Global Semiconductors UCITS ETF USD Acc (SEMI.AS) has a higher volatility of 18.20% compared to Global X Copper Miners ETF (COPX) at 13.65%. This indicates that SEMI.AS's price experiences larger fluctuations and is considered to be riskier than COPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SEMI.AS	COPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	18.20%	13.65%	+4.55%
Volatility (6M) Calculated over the trailing 6-month period	32.75%	39.63%	-6.88%
Volatility (1Y) Calculated over the trailing 1-year period	38.54%	45.47%	-6.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.65%	37.21%	-4.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.65%	35.81%	-3.16%

SEMI.AS vs. COPX - Expense Ratio Comparison

SEMI.AS has a 0.35% expense ratio, which is lower than COPX's 0.65% expense ratio.

Dividends

SEMI.AS vs. COPX - Dividend Comparison

SEMI.AS has not paid dividends to shareholders, while COPX's dividend yield for the trailing twelve months is around 2.61%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COPX Global X Copper Miners ETF	2.61%	2.68%	1.80%	2.39%	3.14%	1.48%	1.30%	1.37%	2.59%	1.57%	0.60%	1.20%
SEMI.AS iShares MSCI Global Semiconductors UCITS ETF USD Acc	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SEMI.AS and COPX in my portfolio?

SEMI.AS and COPX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SEMI.AS or COPX?

On fees, SEMI.AS is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SEMI.AS or COPX?

SEMI.AS is cheaper with a 0.35% expense ratio, compared with 0.65% for COPX.

What is the main difference between SEMI.AS and COPX?

SEMI.AS is categorized as Semiconductors, while COPX is Copper. SEMI.AS tracks MSCI ACWI IMI Semiconductors & Semiconductor Equipment ESG Screened Select Capped Index, while COPX tracks Solactive Global Copper Miners Total Return Index. They also come from different issuers: iShares and Global X. Their fees differ too: 0.35% for SEMI.AS and 0.65% for COPX.