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COPX vs IYM
Which ETF would AI Choose? Global X Copper Miners ETF (COPX) vs. iShares U.S. Basic Materials ETF (IYM)
Key Takeaways
- Different scopes: COPX is a single-commodity, globally diversified copper miners strategy, while IYM is a broad U.S. basic materials fund spanning industrial gases, gold, chemicals, steel, and copper.
- Cost difference: IYM carries a lower expense ratio (approximately 0.37%) than COPX (0.65%).
- Concentration profile: Both funds hold roughly 40 positions, but IYM is top-heavy, with Linde plc representing close to 20% of assets, whereas COPX spreads weight more evenly across global copper producers.
- Risk exposure: COPX is a materially higher-volatility vehicle with elevated beta relative to the S&P 500, while IYM behaves more like a diversified sector fund.
- Geography matters: COPX is predominantly international (Canada, Australia, Chile, China, and other markets), while IYM is concentrated in U.S.-listed companies.
Introduction
Copper has emerged as one of the most closely watched commodities of the current market cycle, driven by electrification, grid investment, and data-center energy demand. That backdrop makes COPX and IYM a natural pairing to compare, yet the two funds are not direct substitutes. COPX isolates exposure to copper mining companies worldwide, while IYM offers diversified access to the entire U.S. basic materials sector. Investors weighing a targeted commodity theme against a broad sector allocation will find this ETF comparison useful for understanding how sector exposure, cost, and relative positioning differ between the two products.
Global X Copper Miners ETF (COPX) Overview
COPX is a passively managed fund that seeks to track the Solactive Global Copper Miners Index. It provides concentrated, pure-play exposure to companies engaged in copper ore mining and related activities. The fund holds roughly 40 equity positions, supplemented by a small cash and repurchase-agreement sleeve.
Top holdings include Hudbay Minerals, Teck Resources, Southern Copper Corporation (SCCO), BHP Group, Freeport-McMoRan Inc. (FCX), Antofagasta, Glencore, KGHM Polska Miedz, First Quantum Minerals, and Boliden. Sector allocation is overwhelmingly tilted to Materials, which accounts for roughly 97% of the portfolio, with a small Industrials residual. Geographic exposure is heavily international, led by Canada, Australia, Chile, and China, with a modest U.S. component.
The fund charges an expense ratio of 0.65% and launched in 2010. Because it is a single-commodity strategy, its structural profile includes elevated beta relative to the broader U.S. equity market and higher standard deviation, reflecting sensitivity to copper prices, mining margins, and global industrial demand.
iShares U.S. Basic Materials ETF (IYM) Overview
IYM is a passively managed fund that seeks to track the Russell 1000 Basic Materials RIC 22.5/45 Capped Index, a benchmark composed of U.S. equities in the basic materials sector. It is a broad sector vehicle rather than a commodity-specific strategy, holding roughly 40 positions.
The portfolio is dominated by Linde plc (LIN) at close to 20% of assets, followed by Newmont Corporation (NEM), Freeport-McMoRan Inc. (FCX), Ecolab Inc. (ECL), Air Products and Chemicals, Inc. (APD), Fastenal Company (FAST), Nucor Corporation (NUE), and AngloGold Ashanti plc (AU). Industry exposure spans industrial gases, gold, specialty chemicals, copper, and steel, producing a far more diversified revenue mix than a pure copper fund.
IYM carries a lower expense ratio of approximately 0.37% and has a longer operating history, launching in 2000. Its lower equity beta and standard deviation reflect a more balanced, less commodity-sensitive risk profile.
Industry and Thematic Backdrop
Both funds operate within the materials complex, but they respond to different drivers. COPX is tightly linked to the copper supply-demand balance, which has tightened amid growing electrification, renewable-energy buildout, and rising power demand from artificial intelligence (AI) data centers. Mine supply constraints in regions such as Chile, Peru, and parts of Africa have reinforced a structurally supportive price environment, though copper remains sensitive to Chinese manufacturing activity and global industrial cycles.
IYM, by contrast, reflects a broader industrial-materials narrative. Its holdings in industrial gases and specialty chemicals are tied to global manufacturing and energy investment, while its gold exposure is influenced by interest-rate expectations and safe-haven demand. Steel and copper components connect IYM to infrastructure spending and construction. This diversity means IYM can be less volatile than COPX during sharp commodity swings but also offers diluted exposure to any single theme.
Performance and Positioning Comparison
In recent market cycles, COPX has exhibited stronger momentum during copper rallies, reflecting its concentrated, high-beta exposure to miners whose earnings are directly leveraged to the metal's price. Its recent performance has been supported by the structural copper narrative and steady inflows into commodity-linked strategies. This same leverage, however, amplifies drawdowns when copper softens.
IYM has delivered steadier relative positioning, benefiting from broad materials strength while its gold and industrial-gas holdings provide diversification. Its lower volatility and heavier large-cap weight, led by Linde, make it more resilient in risk-off environments but less explosive in pure copper upswings. For investors focused on fund performance and relative positioning, the trade-off is clear: COPX offers higher upside capture in a copper bull market, while IYM provides smoother, diversified sector exposure.
AI Screener
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Tickeron AI Verdict
Based on observable structural factors, Tickeron's AI would likely favor COPX for investors seeking targeted exposure to a high-conviction copper theme, given its pure-play concentration and leverage to a supportive commodity backdrop. However, on a risk-adjusted basis, the AI would likely recognize IYM's advantages in cost efficiency, diversification, and lower volatility, making it the more balanced choice for a core materials allocation. The appropriate selection ultimately depends on whether the investor prioritizes thematic momentum or diversified, lower-cost sector exposure.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
To compare these two companies we present long-term analysis, their fundamental ratings and make comparative short-term technical analysis which are presented below. The conclusion is COPX is a Hold and IYM is a Hold.
COPX's RSI Indicator ascends from oversold territory
The RSI Indicator for COPX moved out of oversold territory on November 04, 2026. This could be a sign that the stock is shifting from a downward trend to an upward trend. Traders may want to buy the stock or call options. The A.I.dvisor looked at 22 similar instances when the indicator left oversold territory. In 20 of the 22 cases the stock moved higher. This puts the odds of a move higher at 90%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Stochastic Oscillator is in the oversold zone. Keep an eye out for a move up in the foreseeable future.
The Moving Average Convergence Divergence (MACD) for COPX just turned positive on November 09, 2026. Looking at past instances where COPX's MACD turned positive, the stock continued to rise in 40 of 43 cases over the following month. The odds of a continued upward trend are 90%.
Following a +7.15% 3-day Advance, the price is estimated to grow further. Considering data from situations where COPX advanced for three days, in 293 of 321 cases, the price rose further within the following month. The odds of a continued upward trend are 90%.
COPX may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options.
Bearish Trend Analysis
The Momentum Indicator moved below the 0 level on November 10, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on COPX as a result. In 79 of 88 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 90%.
The 50-day moving average for COPX moved below the 200-day moving average on November 09, 2026. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where COPX declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 89%.
The Aroon Indicator for COPX entered a downward trend on November 13, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
IYM in downward trend: price may drop because broke its higher Bollinger Band on November 09, 2026
IYM broke above its upper Bollinger Band on November 09, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options. The A.I.dvisor looked at 43 similar instances where the stock broke above the upper band. In 37 of the 43 cases the stock fell afterwards. This puts the odds of success at 86%.
Technical Analysis (Indicators)
Bearish Trend Analysis
The Stochastic Oscillator may be shifting from an upward trend to a downward trend. In 52 of 65 cases where IYM's Stochastic Oscillator exited the overbought zone, the price fell further within the following month. The odds of a continued downward trend are 80%.
IYM moved below its 50-day moving average on November 12, 2026 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where IYM declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 84%.
The Aroon Indicator for IYM entered a downward trend on October 12, 2026. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on November 13, 2026. You may want to consider a long position or call options on IYM as a result. In 64 of 76 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 84%.
The Moving Average Convergence Divergence (MACD) for IYM just turned positive on October 27, 2026. Looking at past instances where IYM's MACD turned positive, the stock continued to rise in 35 of 44 cases over the following month. The odds of a continued upward trend are 80%.
Following a +3.30% 3-day Advance, the price is estimated to grow further. Considering data from situations where IYM advanced for three days, in 305 of 350 cases, the price rose further within the following month. The odds of a continued upward trend are 87%.
| COPX | IYM | |
|---|---|---|
| RSI ODDS (%) | 3 days ago 90% | N/A |
| Stochastic ODDS (%) | 3 days ago 89% | 3 days ago 80% |
| Momentum ODDS (%) | 3 days ago 90% | 3 days ago 84% |
| MACD ODDS (%) | 3 days ago 90% | 3 days ago 80% |
| TrendWeek ODDS (%) | 3 days ago 87% | 3 days ago 86% |
| TrendMonth ODDS (%) | 3 days ago 86% | 3 days ago 83% |
| Advances ODDS (%) | 7 days ago 90% | 7 days ago 87% |
| Declines ODDS (%) | 3 days ago 89% | 3 days ago 84% |
| BollingerBands ODDS (%) | 3 days ago 90% | 3 days ago 86% |
| Aroon ODDS (%) | 3 days ago 87% | 5 days ago 73% |
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IYM and
Correlation & Price change
A.I.dvisor indicates that over the last year, IYM has been closely correlated with NEM. These tickers have moved in lockstep 79% of the time. This A.I.-generated data suggests there is a high statistical probability that if IYM jumps, then NEM could also see price increases.