Data as of Oct 28, 2026.
COPX vs IDEF: Holdings Overlap & Returns
Over the year to Oct 28, 2026, COPX returned +27.5% to IDEF's −5.7%; 0% of their weight is in the same names.
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Net assets: $7.3bn on Oct 12, 2026 for Global X Copper Miners ETF, and $3.7bn on Oct 28, 2026 for iShares Defense Industrials and Tech Active ETF.
5% of COPX's weight is in S&P 500 companies and 95% is outside the index. Holdings as of Jul 31, 2026.
43% of IDEF's weight is in S&P 500 companies and 58% is outside the index. Holdings as of Oct 27, 2026.
Pair scorecard
IDEF costs 0.10 points a year less; their one-year returns differ by 33.2 points; COPX is 2.0 times larger.
Points (pts) are percentage points.
| Measure | COPX | IDEF |
|---|---|---|
| Return | ||
| Total return, 1 year | +27.5% | −5.7% |
| Drawdown | ||
| Below its all-time high | 20.3%, high on Aug 27, 2026 | 17.0%, high on Mar 2, 2026 |
| Against its benchmark | ||
| What it tracks | Copper | Defense |
| Its benchmark, total return, 1 year | +13.4% | |
| Against its benchmark, 1 year | ahead by 14.1 pts | |
| Cost and size | ||
| Expense ratio | 0.65% | 0.55% |
| Net assets, as of Oct 12, 2026 | $7.3bn | $3.7bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated Jul 31, 2026 and Oct 27, 2026. Method
Risk and return
May 30, 2025 to Oct 23, 2026 · 73 weekly returnsCOPX returned more: +83.6% to +14.9%. IDEF swung less: 22.4% to 39.2%. IDEF fell less at its worst: −17.1% to −27.8%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | COPX | IDEF | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +83.6% | +14.9% | COPX | Price change plus distributions, reinvested. |
| Annualized | +54.1% | +10.4% | COPX | Total return as a yearly rate. |
| Price return | +77.8% | +14.5% | COPX | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 39.2% | 22.4% | IDEF | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 25.3% | 14.7% | IDEF | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −27.8% | −17.1% | IDEF | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 1.21 | 0.38 | COPX | Return above Treasury bills per unit of volatility. |
| Sortino | 1.86 | 0.58 | COPX | Return above Treasury bills per unit of downside deviation. |
| Calmar | 1.95 | 0.61 | COPX | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 73 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, COPX and IDEF hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 27, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | COPX | IDEF | COPX | IDEF |
| 3 months | +0.9% | −3.0% | −3.5 pts vs ACWI | not measured |
| 6 months | −0.8% | −5.8% | −8.2 pts vs ACWI | not measured |
| 1 year | +27.5% | −5.7% | +14.1 pts vs ACWI | not measured |
| 3 years | +141.8% | – | +52.9 pts vs ACWI | – |
| Since launchNot the same days: COPX Apr 2010 · IDEF May 2025 | +146.6% | +22.1% | −248.6 pts vs ACWI | not measured |
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Side by side
As of Oct 28, 2026. Source: ETFIQ.
0% of the two portfolios are the same securities at the same weight.
COPX and IDEF are built for the same job. How do they differ in cost, holdings and results?
- Theme. COPX covers Copper and IDEF covers Defense.
- Concentration. The top ten holdings are 50.3% of COPX and 37.3% of IDEF, a gap of 13.0 points.
- What each follows. COPX follows Copper and IDEF follows Defense.
Data as of Oct 28, 2026.
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COPX
By weight, 5% of COPX'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 50% of the fund across 40 positions, as filed for Jul 31, 2026. Over the year to Oct 28, 2026 the fund returned +27.5% with distributions reinvested against +13.4% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 14.1 pts. It sits 20.3% below its all-time high of Aug 27, 2026.
IDEF
By weight, 42% of IDEF's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 92%. The top ten holdings are 37% of the fund across 155 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned −5.7% with distributions reinvested. It sits 17.0% below its all-time high of Mar 2, 2026.
Questions people ask
- Do COPX and IDEF hold the same stocks?
- By their latest filings, 0% of their books are the same securities at the same weight. Overlap is the sum of the smaller weight of every security they share.
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
Overlap adds up the smaller of the two weights for each security both funds hold.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, COPX against IDEF, data as of Oct 28, 2026. https://etfiq.com/compare/themes/copx-vs-idef
ETFIQ. (Oct 28, 2026). COPX against IDEF. Retrieved from https://etfiq.com/compare/themes/copx-vs-idef
[COPX against IDEF (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/themes/copx-vs-idef)
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