Do COPA and ICOP hold the same stocks?

By their latest filings, 50% of their books are the same securities at the same weight, which is close to holding one of them twice. Overlap is the sum of the smaller weight of every security they share.

Which is more different from the S&P 500, COPA or ICOP?

COPA has 9% of its weight in S&P 500 names and ICOP has 13%, so COPA differs more from the index.

Which is cheaper, COPA or ICOP?

COPA charges 0.35% a year and ICOP charges 0.47%, so COPA is cheaper. Fees come from each fund's prospectus.

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COPA vs ICOP: which is really different?

COPA and ICOP hold 50% of their weight in the same names, and COPA returned +47.6% over the year. Themes Copper Miners ETF and iShares Copper and Metals Mining ETF.

8.6%

COPA in the S&P 500

13.2%

ICOP in the S&P 500

+47.6%

COPA total return, 1 year

+44.3%

ICOP total return, 1 year

COPA · 1 year to Sep 30, 202691% of its weight is outside the S&P 500

9% of COPA's weight is in S&P 500 companies and 91% is outside the index

ICOP · 1 year to Sep 30, 202687% of its weight is outside the S&P 500

13% of ICOP's weight is in S&P 500 companies and 87% is outside the index

ETFIQ Off-Index Score · COPA scores higherHow much of it is not the index it is sold as an alternative to?

COPA 82.3

ICOP 74.4

0.1, the lowest in this set92.0, the highest

A percentile among the 375 thematic ETFs with a holdings filing. It is a position in a set, not a rating, and neither end of it is a recommendation. All thematic ETFs ranked by it → How it is computed →

What they hold in common

By the books each fund has filed, COPA and ICOP hold 50% of their money in the same securities at the same weight. Above 50%, holding both is close to holding one of them twice. Holdings dated Jun 30, 2026 and Sep 29, 2026.

50%

half

50% in common

Positions both hold, largest shared weight first

Holding COPA ICOP

Freeport-McMoRan Inc 8.57% 8.29%

BHP Group Ltd 4.08% 7.76%

First Quantum Minerals Ltd 3.52% 4.80%

Anglo American PLC 3.50% 8.16%

Lundin Mining Corp 3.37% 4.42%

Hudbay Minerals Inc 4.35% 3.20%

Antofagasta PLC 3.15% 4.43%

Southern Copper Corp 3.10% 4.89%

Glencore PLC 4.46% 2.93%

Sandfire Resources Ltd 2.29% 1.91%

Capstone Copper Corp 2.83% 1.84%

Ivanhoe Mines Ltd 2.74% 1.53%

Only in COPA

Jiujiang Defu Technology Co Lt 3.78%

Teck Resources Ltd 3.29%

TREKOR METALS LTD 2.74%

Jiangxi Copper Co Ltd 2.44%

China Nonferrous Mining Corp L 2.07%

Guangdong Feinan Resources Rec 1.96%

Aurubis AG 1.80%

Boliden AB 1.57%

Only in ICOP

GRUPO MEXICO B 8.11%

TECK RESOURCES SUBORDINATE VOTING 5.68%

NEWMONT 4.93%

KGHM POLSKA MIEDZ SA 3.13%

RIO TINTO ADR REPTG ONE 3.09%

BARRICK MINING 3.01%

VALE ADR REPRESENTING ONE 2.30%

AURA MINERALS INC 0.93%

Weight overlap is an ETFIQ calculation: for every security both funds hold, the smaller of the two weights, summed.

50% of the two portfolios are the same securities at the same weight.

Performance, window by window

	Total return		vs the S&P 500		vs the Nasdaq-100
Window	COPA	ICOP	COPA	ICOP	COPA	ICOP
3 months	+10.3%	+9.6%	+7.8 pts	+7.1 pts	+8.2 pts	+7.5 pts
6 months	+17.5%	+8.9%	+0.6 pts	−8.0 pts	−9.3 pts	−17.9 pts
1 year	+47.6%	+44.3%	+31.9 pts	+28.5 pts	+23.8 pts	+20.5 pts
3 years	not published	+137.4%	not published	+52.4 pts	not published	+27.4 pts
Since launch COPA Sep 2024 · ICOP Jun 2023	+108.5%	+134.9%	+72.0 pts	+51.7 pts	+54.6 pts	+27.1 pts

COPA and ICOP over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

COPA

Themes Copper Miners ETF · Holds 49 stocks in copper, 9% of its weight in S&P 500 companies

ICOP

iShares Copper and Metals Mining ETF · Holds 87 stocks in copper, 13% of its weight in S&P 500 companies

Issuer Themes iShares

Theme Copper Copper

In the S&P 500 8.6% 13.2%

Active share vs the S&P 500 99.9% 99.7%

In the Nasdaq-100 0.0% 0.0%

Holdings 49 87

Top ten, share of the fund 42.1% 61.5%

Expense ratio 0.35% 0.47%

Fee for the differing part 0.35% 0.47%

Total return, 1 year +47.6% +44.3%

vs the S&P 500 +31.9 pts +28.5 pts

vs the Nasdaq-100 +23.8 pts +20.5 pts

Below its high −10.9% −12.6%

Net assets $13m $467m

COPA and ICOP on the same fields, as of Sep 30, 2026. Source: ETFIQ.

COPA in plain words

By weight, 9% of COPA's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 42% of the fund across 49 positions, as filed for Jun 30, 2026. Over the year to Sep 30, 2026 the fund returned +47.6% with distributions reinvested against +15.7% for the S&P 500, so a holder was ahead by 31.9 pts. It sits 10.9% below its all-time high of Aug 27, 2026.

ICOP in plain words

By weight, 13% of ICOP's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 100%. The top ten holdings are 62% of the fund across 87 positions, as published by its issuer for Sep 29, 2026. Over the year to Sep 30, 2026 the fund returned +44.3% with distributions reinvested against +15.7% for the S&P 500, so a holder was ahead by 28.5 pts. It sits 12.6% below its all-time high of Aug 25, 2026.

Questions people ask

Do COPA and ICOP hold the same stocks?: By their latest filings, 50% of their books are the same securities at the same weight, which is close to holding one of them twice. Overlap is the sum of the smaller weight of every security they share.
Which is more different from the S&P 500, COPA or ICOP?: COPA has 9% of its weight in S&P 500 names and ICOP has 13%, so COPA differs more from the index.
Which is cheaper, COPA or ICOP?: COPA charges 0.35% a year and ICOP charges 0.47%, so COPA is cheaper. Fees come from each fund's prospectus.

Other comparisons

COPA vs GRID COPA vs POW COPA vs POWR COPA vs TRFM ICOP vs JOUL ICOP vs POW ICOP vs POWR ICOP vs TRFM

COPA on its own →ICOP on its own →How every figure is computed →Standards and sources →

Where these figures came from

COPA filings on SEC EDGAR ↗COPA prospectus with the expense ratio (SEC) ↗Themes page for COPA ↗ICOP filings on SEC EDGAR ↗ICOP prospectus with the expense ratio (SEC) ↗iShares page for ICOP ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, COPA against ICOP, data as of Sep 30, 2026. https://etfiq.com/compare/themes/copa-vs-icop

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.