Data as of Oct 28, 2026.
COPX vs SHLD: Holdings Overlap & Returns
Over the year to Oct 28, 2026, COPX returned +27.5% to SHLD's −6.5%; 0% of their weight is in the same names.
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Net assets on Oct 12, 2026: $7.3bn for Global X Copper Miners ETF and $6.3bn for Global X Defense Tech ETF.
5% of COPX's weight is in S&P 500 companies and 95% is outside the index. Holdings as of Jul 31, 2026.
45% of SHLD's weight is in S&P 500 companies and 55% is outside the index. Holdings as of May 31, 2026.
Pair scorecard
SHLD costs 0.15 points a year less; their one-year returns differ by 34.0 points; COPX is 1.2 times larger.
Points (pts) are percentage points.
| Measure | COPX | SHLD |
|---|---|---|
| Return | ||
| Total return, 1 year | +27.5% | −6.5% |
| Drawdown | ||
| Below its all-time high | 20.3%, high on Aug 27, 2026 | 18.6%, high on Mar 9, 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% | 0.50% |
| Net assets, as of Oct 12, 2026 | $7.3bn | $6.3bn |
| Holdings | ||
| Holdings in common | 0% | |
Holdings in common uses holdings dated May 31, 2026 and Jul 31, 2026. Method
Risk and return
Sep 22, 2023 to Oct 23, 2026 · 161 weekly returnsSHLD returned more: +161.2% to +112.8%. SHLD swung less: 24.0% to 35.9%. SHLD fell less at its worst: −25.1% to −35.7%.
Full scorecard
9 measures, with how each is measured Open ↓
| Measure | COPX | SHLD | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +112.8% | +161.2% | SHLD | Price change plus distributions, reinvested. |
| Annualized | +27.6% | +36.4% | SHLD | Total return as a yearly rate. |
| Price return | +100.5% | +156.8% | SHLD | Price change alone, distributions left out. |
| Risk | ||||
| Volatility | 35.9% | 24.0% | SHLD | Spread of weekly returns, annualized. Lower is steadier. |
| Downside deviation | 24.5% | 13.5% | SHLD | Like volatility, counting only weeks below the Treasury bill rate. |
| Max drawdown | −35.7% | −25.1% | SHLD | Deepest fall from a high to the low after it. |
| Risk-adjusted | ||||
| Sharpe | 0.74 | 1.23 | SHLD | Return above Treasury bills per unit of volatility. |
| Sortino | 1.08 | 2.17 | SHLD | Return above Treasury bills per unit of downside deviation. |
| Calmar | 0.77 | 1.45 | SHLD | Annualized return divided by the max drawdown. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 161 weekly returns. Cash rate: the 13-week Treasury bill.
What they share
By the books each fund has filed, COPX and SHLD hold 0% of their money in the same securities at the same weight. Holdings dated May 31, 2026 and Jul 31, 2026.
half
0% in common
Only in one fund ↓
Window by window
| Total return | vs its benchmark | |||
|---|---|---|---|---|
| Window | COPX | SHLD | COPX | SHLD |
| 3 months | +0.9% | +2.0% | −3.5 pts vs ACWI | not measured |
| 6 months | −0.8% | −4.7% | −8.2 pts vs ACWI | not measured |
| 1 year | +27.5% | −6.5% | +14.1 pts vs ACWI | not measured |
| 3 years | +141.8% | +156.5% | +52.9 pts vs ACWI | not measured |
| Since launchNot the same days: COPX Apr 2010 · SHLD Sep 2023 | +146.6% | +160.2% | −248.6 pts vs ACWI | not measured |
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 SHLD are built for the same job. How do they differ in cost, holdings and results?
- Theme. COPX covers Copper and SHLD covers Defense.
- What each follows. COPX follows Copper and SHLD follows Defense.
- Holdings in common. 0% of the weight is in the same securities (holdings dated Jul 31, 2026 and May 31, 2026).
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.
SHLD
By weight, 45% of SHLD's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 99%. The top ten holdings are 59% of the fund across 48 positions, as filed for May 31, 2026. Over the year to Oct 28, 2026 the fund returned −6.5% with distributions reinvested. It sits 18.6% below its all-time high of Mar 9, 2026.
Questions people ask
- Do COPX and SHLD 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 SHLD, data as of Oct 28, 2026. https://etfiq.com/compare/themes/copx-vs-shld
ETFIQ. (Oct 28, 2026). COPX against SHLD. Retrieved from https://etfiq.com/compare/themes/copx-vs-shld
[COPX against SHLD (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/themes/copx-vs-shld)
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