ICOP
iShares Copper and Metals Mining ETF
ICOP tracks a market-capitalization weighted index composed of stocks of copper and metal ore mining companies globally. Stocks are quantitatively screened to identify stocks with significant revenue tied to this space.
Global
EQUITY
Passive
MANAGEMENT STYLE
35.1 M
ASSETS UNDER MGMT
47 bp
EXPENSES
Fund Basics
| Fund sponsor | iShares |
| Category | Global |
| Asset class | Equity |
| Website | link... |
| Inception date | Jun 21, 2023 |
| Assets (mns) | $35 |
| Expense ratio | 47 bp |
| Currency | USD |
Sector Breakdown
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Quarterly |
| Taxation | 1099 |
| Stock selection | |
| Weighting | |
| Holdings Transparency | Full |
| Derivatives-based | No |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Top 10 Holdings
Complete list +
| FREEPORT-MCMORAN COPPER | 8.4 % |
| BHP BILLITON LTD | 7.9 % |
| GRUPO MEXICO S.A.B. DE C.V. CLASS B | 7.7 % |
| SOUTHERN COPPER CORP | 6.2 % |
| ANTOFAGASTA PLC | 5.7 % |
| LUNDIN MINING CORP | 4.8 % |
| EVOLUTION MINING LTD | 4.7 % |
| IVANHOE MINES LTD. CLASS A | 4.6 % |
| FIRST QUANTUM MINERALS LTD | 4.3 % |
| NEWMONT MINING CORP | 4.1 % |
Constituent Breakdown
| Number of holdings | 42 |
| Herfindahl-Hirschman Index | 451 |
| Wgt avg mkt cap (mns) | $42,784 |
| Large cap (>$10bn) | 65.1% |
| Mid cap ($2-10bn) | 27.8% |
| Small cap (<$2bn) | 2.8% |
| Developed mkts. | 81.1% |
| Emerging mkts. | 17.9% |
Country Exposure
 |
CANADA | 21.4 % |
 |
UNITED STATES | 18.7 % |
 |
AUSTRALIA | 15.3 % |
 |
BRITAIN | 12.7 % |
 |
MEXICO | 7.7 % |
 |
POLAND | 3.8 % |
 |
SWITZERLAND | 2.9 % |
 |
BRAZIL | 2.7 % |
 |
HONG KONG | 1.0 % |
 |
CHINA | 1.0 % |
Historical Performance
Standardized Performance (as of 09/30/2024)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | Incep. | |
|---|---|---|---|---|---|---|---|
| Total Returns | 11.8% | -- | -- | -- | -- | -- | 11.8% | Volatility | 30.9% | 29.2% | -- | -- | -- | -- | -- |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.00 | 0% |
| MSCI EAFE | 0.00 | 0% |
| MSCI Emg Mkts | 0.00 | 0% |
Liquidity Measures
| Avg. volume (000) | 25 |
| Turnover | 2.2% |
| Avg. Bid/Ask (% of price) | 0.00% |
| ADV of underlying (mns) | $5,252 |
Technical Indicators
| Recent close | $30.55 |
| 30d moving avg. | $28.85 |
| Annualized volatility | 0.0% |
| Relative strength (RSI) | 39 |
| Short interest (ETF) | 1.0% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
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Comparable ETFs Based on Overlap
| Ticker | Fund Name | Overlap vs. ICOP |
Expenses vs. ICOP |
ALTAR Score™ vs. ICOP |
|---|---|---|---|---|
| COPX | Global X Copper Miners ETF | 50.5% | +18 bp | -1.6% |
| GMET | VanEck Green Metals ETF | 37.9% | +16 bp | +1.0% |
| PICK | iShares MSCI Global Metals & Mining Producers ETF | 33.3% | -8 bp | +3.3% |
| DMAT | Global X Disruptive Materials ETF | 25.6% | +12 bp | +1.0% |
| CRIT | Optica Rare Earths & Critical Materials ETF Optica Rare Eart | 24.0% | +38 bp | -1.3% |
| SETM | Sprott Energy Transition Materials ETF | 18.0% | +18 bp | -3.8% |
| MXI | iShares Global Materials ETF | 17.8% | -6 bp | -2.6% |
| GNR | SPDR S&P Global Natural Resources ETF | 17.6% | -7 bp | +0.2% |
| GUNR | FlexShares Morningstar Global Upstream Natural Resources Ind | 16.9% | -1 bp | -0.2% |
| EV | Mast Global Battery Recycling & Production ETF | 15.0% | +18 bp | +2.6% |
Risk and Returns: ICOP vs. Comps (1 YR)
Notes: Top 10 overlapping ETFs. Funds with insufficient history not shown. Some funds may overlap. Hover over data point for ticker symbol.
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Results & Estimates
| 2019 | 2020 | 2021 | 2022 | 2023 | 2024E | 2025E | ||
|---|---|---|---|---|---|---|---|---|
| Sales per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Earnings per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Dividends per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- | |
| Book value per share | -- | -- | -- | -- | -- | -- | -- | |
| change (%) | -- | -- | -- | -- | -- | -- | -- |
Return on Equity
Net Margins
EPS Revision Activity (6 mo. ago = 100%)
Compound Annual Growth Rates
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Valuation Metrics
| 2023 | 2024E | Fwd Est | 2025E | |
| Price-to-sales | --x | --x | --x | --x |
| Price-to-earnings | --x | --x | --x | --x |
| Price-to-cash flow | --x | --x | --x | --x |
| Price-to-growth | --x | --x | --x | --x |
| Price-to-book value | --x | --x | --x | --x |
| Yield | --% | --% | --x | --% |
Based on closing prices from 10/23/2024
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Price-to-Earnings
Price-to-Sales
Price-to-Book Value
Price-to-Cash Flow
Price-to-Growth
Dividend Yield
Historical Valuation Trends Sample data. Subscribe for access.
SHOWING:
Price-to-Earnings
Price-to-Earnings
ICOP
Notes: Based on adjusted historical results for current fund constituents. May differ from results achieved by past fund constituents. Max P/E of 100x.
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ETF Research Center Rating
SPECULATIVE
Deeply undervalued but risky. A rating of SPECULATIVE is assigned to ETFs with ALTAR Scores in the top quintile (the top 20%) of their category, indicating exceptional appreciation potential. However, often these are narrowly-focused funds or in industries with structural issues, which may also make them very risky. Nonetheless they may still be useful as part of a well-diversified portfolio.
ALTAR Score™
ICOP
9.5%
Cat. Avg
4.1%
ALTAR Score™ Calculation
Category Overview
There are 361 funds in the Global Equity category, with an average ALTAR Score™
of 4.1% and a standard deviation of
4.7%. ICOP's ALTAR Score™ is approximately
1.2 standard deviations
above
the category average. This places ICOP in the 87th percentile among funds in the category.
Sell Side Consensus Rating
Sell-side recommendations on the ETF's individual constituents
ICOPSELL
U/W
HOLD
O/W
BUY
Expense Analysis
| Peer Group | Passive Global Equity ETFs |
| # of ETFs | 53 |
| Avg. Expense Ratio | 50.8 bp |
| Std. Deviation | 22.4 bp |
| ICOP (47 bp) Percentile rank | 43 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| ICOP | 47.0 | 0.0 | 47 |
| Peer Avg. | 57.0 | 39.6 | 96.5 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .