Do COPX and SMH 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.

Which is more different from the S&P 500, COPX or SMH?

COPX has 5% of its weight in S&P 500 names and SMH has 79%, so COPX differs more from the index.

Which is cheaper, COPX or SMH?

COPX charges 0.65% a year and SMH charges 0.35%, so SMH is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Thematic ETFs

COPX vs SMH: Holdings Overlap & Returns

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Over the year to Oct 28, 2026, COPX returned +27.5% to SMH's +56.8%; 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 $71.1bn on Oct 27, 2026 for VanEck Semiconductor ETF.

COPX on its own →SMH on its own →

At a glance

4.8%

COPX in the S&P 500

79.3%

SMH in the S&P 500

+27.5%

COPX total return, 1 year

+56.8%

SMH total return, 1 year

COPX · 1 year to Oct 28, 2026 95% of its weight is outside the S&P 500

5% of COPX's weight is in S&P 500 companies and 95% is outside the index. Holdings as of Jul 31, 2026.

SMH · 1 year to Oct 28, 2026 21% of its weight is outside the S&P 500

79% of SMH's weight is in S&P 500 companies and 21% is outside the index. Holdings as of Oct 22, 2026.

Pair scorecard

SMH costs 0.30 points a year less; their one-year returns differ by 29.3 points; SMH is 9.8 times larger.

Points (pts) are percentage points.

COPX vs SMH: Holdings Overlap & Returns
Measure	COPX	SMH
Return
Measure	COPX	SMH
Total return, 1 year	+27.5%	+56.8%
Drawdown
Measure	COPX	SMH
Below its all-time high	20.3%, high on Aug 27, 2026	15.1%, high on Jun 22, 2026
Against its benchmark
Measure	COPX	SMH
What it tracks	Copper	Semiconductors
Its benchmark, total return, 1 year	+13.4%	+13.4%
Against its benchmark, 1 year	ahead by 14.1 pts	ahead by 43.4 pts
Cost and size
Measure	COPX	SMH
Expense ratio	0.65%	0.35%
Net assets, as of Oct 12, 2026	$7.3bn	$71.2bn
Holdings
Measure	COPX	SMH
Holdings in common	0%

Holdings in common uses holdings dated Jul 31, 2026 and Oct 27, 2026. Method

Risk and return

Dec 30, 2011 to Oct 23, 2026 · 773 weekly returns · each against ACWI

COPX SMH

Return

Total return edge SMH +149.0% +3,977.0%

Annualized edge SMH +6.3% +28.3%

Price return edge SMH +89.7% +3,365.0%

Risk

Volatility edge SMH 36.2% 26.9%

Max drawdown edge SMH −79.1% −44.2%

Downside capture 137.3% 117.1%

Beta 1.58 1.40

Risk-adjusted

Sharpe edge SMH 0.30 1.00

Sortino edge SMH 0.45 1.53

Treynor 0.069 0.192

Calmar edge SMH 0.08 0.64

Against the benchmark

Alpha −5.2% a year +12.6% a year

Alpha t-stat −0.74 2.95

Information ratio 0.02 0.96

Tracking error 28.4% 17.4%

Reading

SMH returned more: +3,977.0% to +149.0%. SMH swung less: 26.9% to 36.2%. SMH fell less at its worst: −44.2% to −79.1%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: COPX vs SMH: Holdings Overlap & Returns
Measure	COPX	SMH	ACWI	Edge	How it is measured
Return
Total return	+149.0%	+3,977.0%		SMH	Price change plus distributions, reinvested.
Annualized	+6.3%	+28.3%		SMH	Total return as a yearly rate.
Price return	+89.7%	+3,365.0%		SMH	Price change alone, distributions left out.
Risk
Volatility	36.2%	26.9%		SMH	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	24.2%	17.5%		SMH	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−79.1%	−44.2%		SMH	Deepest fall from a high to the low after it.
Upside capture	188.6%	197.3%	100.0%	SMH (slight)	Share of its benchmark's rise caught in the weeks it rose.
Downside capture	137.3%	117.1%	100.0%	SMH	Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	1.58	1.40	1.00	SMH lower	How far it moves for each 1% its benchmark moves.
R squared	0.44	0.63	1.00	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.30	1.00		SMH	Return above Treasury bills per unit of volatility.
Sortino	0.45	1.53		SMH	Return above Treasury bills per unit of downside deviation.
Treynor	0.069	0.192	0.102	SMH	Return above Treasury bills per unit of beta.
Calmar	0.08	0.64		SMH	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	ACWI	ACWI	ACWI		The ETF each fund is measured against.
Alpha	−5.2% a year	+12.6% a year	0.0%	SMH significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−0.74	2.95		Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−19.0% to +8.6%	+4.2% to +20.9%		COPX's includes zero	The 95% range for the yearly alpha.
Information ratio	0.02	0.96		SMH	Return against its benchmark per unit of tracking error.
Tracking error	28.4%	17.4%	0.0%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 773 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, COPX and SMH hold 0% of their money in the same securities at the same weight. Holdings dated Jul 31, 2026 and Oct 27, 2026.

50%

0 half 100%

half

0% in common

Positions both hold · largest shared weight first COPX SMH

Only in one fund ↓

Only in COPX

BHP GROUP LIMITED 5.48%

Teck Resources Limited 5.39%

Hudbay Minerals Inc. 5.26%

SOUTHERN COPPER CORPORATION 5.08%

FIRST QUANTUM MINERALS LTD. 5.04%

GLENCORE PLC 5.02%

ANTOFAGASTA PLC 5.00%

KGHM POLSKA MIEDZ SPOLKA AKCYJNA 4.76%

Only in SMH

Nvidia Corp 20.15%

Taiwan Semiconductor Manufacturing Co L 9.65%

Advanced Micro Devices Inc 5.56%

Broadcom Inc 5.52%

Texas Instruments Inc 5.48%

Analog Devices Inc 4.73%

Micron Technology Inc 4.67%

Marvell Technology Inc 4.49%

Check overlap with more funds →

Window by window

Window by window: COPX vs SMH: Holdings Overlap & Returns
	Total return		vs its benchmark
Window	COPX	SMH	COPX	SMH
3 months	+0.9%	+12.6%	−3.5 pts vs ACWI	+8.2 pts vs ACWI
6 months	−0.8%	+13.6%	−8.2 pts vs ACWI	+6.2 pts vs ACWI
1 year	+27.5%	+56.8%	+14.1 pts vs ACWI	+43.4 pts vs ACWI
3 years	+141.8%	+316.0%	+52.9 pts vs ACWI	+227.1 pts vs ACWI
Since launchNot the same days: COPX Apr 2010 · SMH Dec 2011	+146.6%	+4,348.4%	−248.6 pts vs ACWI	+3,938.6 pts vs ACWI

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Side by side

COPX Global X Copper Miners ETF · Holds 40 stocks in copper, 5% of its weight in S&P 500 companies SMH VanEck Semiconductor ETF · Holds 25 stocks in semiconductors, 79% of its weight in S&P 500 companies

Issuer Global X VanEck

Theme Copper Semiconductors

In the S&P 500 4.8% 79.3%

Active share vs the S&P 500 99.9% 80.7%

In the Nasdaq-100 0.0% 83.1%

Holdings 40 25

Top ten, share of the fund 50.3% 69.0%

Expense ratio 0.65% 0.35%

Fee for the differing part 0.65% 0.43%

Total return, 1 year +27.5% +56.8%

vs its benchmark +14.1 pts vs ACWI +43.4 pts vs ACWI

Below its high −20.3% −15.1%

Net assets, COPX as of Oct 12, 2026 and SMH as of Oct 27, 2026 $7.3bn $71.1bn

As of Oct 28, 2026. Source: ETFIQ.

0% of the two portfolios are the same securities at the same weight.

Client brief · page 1 of 2 Report BR-60B663BE09

COPX and SMH are built for the same job. How do they differ in cost, holdings and results?

Theme. COPX covers Copper and SMH covers Semiconductors.
Concentration. The top ten holdings are 50.3% of COPX and 69.0% of SMH, a gap of 18.7 points.
What each follows. COPX follows Copper and SMH follows Semiconductors.

Data as of Oct 28, 2026.

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About each fund

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.

SMH

By weight, 79% of SMH's portfolio is stocks that are also in the S&P 500; its active share against the S&P 500 is 81%. The top ten holdings are 69% of the fund across 25 positions, as published by its issuer for Oct 27, 2026. Over the year to Oct 28, 2026 the fund returned +56.8% with distributions reinvested against +13.4% for its benchmark, the MSCI ACWI Index, so a holder was ahead by 43.4 pts. It sits 15.1% below its all-time high of Jun 22, 2026.

Questions people ask

Do COPX and SMH 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.
Which is more different from the S&P 500, COPX or SMH?: COPX has 5% of its weight in S&P 500 names and SMH has 79%, so COPX differs more from the index.
Which is cheaper, COPX or SMH?: COPX charges 0.65% a year and SMH charges 0.35%, so SMH is cheaper. Fees come from each fund's prospectus.

Other comparisons

COPX vs SOXX COPX vs GDX COPX vs DRAM COPX vs IGV SMH vs IFRA SMH vs XME SMH vs IDEF SMH vs BOTZ

Where to next

All thematic ETFs ranked by the S&P 500 Difference Score →How the scores are computed →COPX on its own →SMH on its own →COPX dividend history →COPX holdings →SMH dividend history →SMH holdings →Method →Standards and sources →

Sources and dates

COPX filings on SEC EDGAR ↗

COPX prospectus with the expense ratio (SEC) ↗

Global X page for COPX ↗

SMH filings on SEC EDGAR ↗

SMH prospectus with the expense ratio (SEC) ↗

VanEck website ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, COPX against SMH, data as of Oct 28, 2026. https://etfiq.com/compare/themes/copx-vs-smh

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.