COPX
Price
$90.66
Change
-$0.59 (-0.65%)
Updated
Sep 4 closing price
Net Assets
8.12B
Intraday BUY SELL Signals
SLX
Price
$110.99
Change
+$0.14 (+0.13%)
Updated
Sep 4 closing price
Net Assets
174.36M
Intraday BUY SELL Signals
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COPX vs SLX

COPX vs SLX Comparison Chart in %
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A.I.Advisor
Sep 01, 2026

Which ETF would AI Choose? Global X Copper Miners ETF (COPX) vs. VanEck Steel ETF (SLX)

Key Takeaways

  • Global X Copper Miners ETF (COPX) offers targeted exposure to global copper mining companies, while VanEck Steel ETF (SLX) focuses on the broader steel production and iron ore supply chain.
  • Both ETFs are passively managed and concentrated in the materials sector, but COPX emphasizes copper-specific miners with approximately 40 holdings, whereas SLX tracks steel-related firms with around 42 holdings.
  • COPX carries a higher expense ratio of 0.65% compared to SLX’s net expense ratio of 0.55%, reflecting differences in index complexity and liquidity profiles.
  • Top holdings in both funds include overlapping names such as BHP Group Ltd, yet COPX prioritizes pure-play copper producers while SLX includes integrated steelmakers and iron ore miners.
  • COPX provides thematic exposure to electrification and renewable energy demand, whereas SLX aligns with industrial production, construction, and infrastructure cycles.
  • Structural differences in commodity focus create distinct risk profiles, with COPX more sensitive to copper price volatility and SLX tied to steel demand and iron ore trends.

Introduction

Investors seeking materials-sector exposure often evaluate specialized commodity ETFs to capture distinct supply-chain segments. Global X Copper Miners ETF (COPX) and VanEck Steel ETF (SLX) do not compete directly but provide alternative pathways within the same broad sector. COPX targets copper mining equities, while SLX covers steel producers and related upstream activities. These funds appeal to investors with differing views on industrial metals demand driven by energy transition versus traditional manufacturing and construction cycles.

Global X Copper Miners ETF (COPX) Overview

The Global X Copper Miners ETF (COPX) is a passively managed fund that seeks to track the Solactive Global Copper Miners Total Return Index. It holds approximately 40 securities focused on companies engaged in copper mining and related activities. The fund maintains a market-capitalization-weighted approach with periodic rebalancing to reflect index changes. Top holdings typically include BHP Group Ltd, Teck Resources Ltd, Hudbay Minerals Inc, Southern Copper Corp, and First Quantum Minerals Ltd, each representing roughly 5% of assets. Allocations concentrate in the materials sector, with geographic exposure spanning Canada, Australia, the United States, and emerging markets. The expense ratio stands at 0.65%. As a thematic equity ETF, COPX delivers concentrated access to the copper value chain without leverage or active management.

VanEck Steel ETF (SLX) Overview

The VanEck Steel ETF (SLX) is a passively managed vehicle designed to replicate the MarketVector Global Steel Index. It contains approximately 42 holdings spanning steel production, fabrication, iron ore mining, and related services. The index employs a modified market-capitalization weighting with float adjustment and undergoes regular rebalancing. Prominent positions often feature BHP Group Ltd, Rio Tinto PLC, Vale SA, Nucor Corp, and Steel Dynamics Inc. The portfolio remains heavily weighted toward materials, with additional exposure to industrials in some cases. Geographic diversification includes Australia, the United States, Japan, Brazil, and Europe. SLX carries a net expense ratio of 0.55%. The fund offers straightforward equity exposure to the global steel ecosystem through a rules-based methodology.

Industry and Thematic Backdrop

Both ETFs operate within the materials sector, where demand for industrial metals responds to global economic growth, infrastructure spending, and manufacturing activity. Copper benefits from structural tailwinds in electric vehicles, renewable energy infrastructure, and data centers, while steel demand ties more closely to construction, automotive production, and heavy industry. Macro drivers include capital expenditure cycles, trade policies, and commodity price fluctuations. Regulatory developments around mining permits and environmental standards influence both segments. Sector risks encompass supply disruptions, geopolitical tensions in key producing regions, and shifts in Chinese industrial output. Capital flows into metals equities tend to accelerate during periods of sustained economic expansion or energy-transition investment.

Performance and Positioning Comparison

In recent market cycles, COPX has exhibited sensitivity to copper price movements and electrification narratives, resulting in distinct volatility patterns compared with broader equity benchmarks. SLX has shown responsiveness to steel demand indicators and iron ore trends, often aligning with industrial production data. Relative positioning highlights COPX’s higher concentration in copper-specific names, which can amplify moves during commodity rallies tied to green energy themes. SLX maintains broader steel-industry diversification, potentially offering different exposure during traditional economic recoveries. Both funds demonstrate correlations with global growth expectations, yet their commodity emphases create differentiated behavior across interest-rate and inventory cycles.

AI Screener

Tickeron’s AI Screener is an AI-powered stock and ETF discovery tool that helps traders and investors filter the market based on technical patterns, fundamentals, trends, volatility, and AI-driven signals. Users can scan thousands of stocks and ETFs using customizable filters such as industry, market capitalization, technical indicators, price patterns, and performance metrics. The screener helps identify trade ideas, trending stocks, breakout candidates, and market opportunities more efficiently than manual screening. Investors seeking data-driven insights into funds like COPX and SLX may find the platform useful for refining screening criteria.

Tickeron AI Verdict

Based on observable structural factors, Tickeron’s AI would likely assign a modest probabilistic edge to Global X Copper Miners ETF (COPX) in the current environment. The fund’s thematic alignment with electrification and renewable infrastructure provides exposure to durable demand drivers, supported by a diversified yet focused holdings profile. While SLX offers cost efficiency and steel-sector breadth, COPX’s positioning within a high-growth commodity subset and larger liquidity profile contribute to a favorable relative assessment under prevailing sector momentum conditions. This conclusion rests on structural characteristics rather than short-term price action.

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.

Disclaimers and Limitations

VS
COPX vs. SLX commentary
Sep 07, 2026

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 SLX is a Buy.

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SUMMARIES
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FUNDAMENTALS
Fundamentals
COPX has more net assets: 8.12B vs. SLX (174M). SLX has a higher annual dividend yield than COPX: SLX (30.792) vs COPX (26.714). COPX was incepted earlier than SLX: COPX (16 years) vs SLX (20 years). SLX (0.55) has a lower expense ratio than COPX (0.65). SLX has a higher turnover COPX (21.67) vs COPX (21.67).
COPXSLXCOPX / SLX
Gain YTD26.71430.79287%
Net Assets8.12B174M4,667%
Total Expense Ratio0.650.55118%
Turnover21.67107.0020%
Yield2.071.22170%
Fund Existence16 years20 years-
TECHNICAL ANALYSIS
Technical Analysis
COPXSLX
RSI
ODDS (%)
Bearish Trend 4 days ago
80%
Bearish Trend 4 days ago
85%
Stochastic
ODDS (%)
Bullish Trend 4 days ago
90%
Bearish Trend 4 days ago
83%
Momentum
ODDS (%)
Bearish Trend 4 days ago
88%
Bullish Trend 4 days ago
90%
MACD
ODDS (%)
Bearish Trend 4 days ago
84%
Bullish Trend 4 days ago
90%
TrendWeek
ODDS (%)
Bearish Trend 4 days ago
87%
Bullish Trend 4 days ago
89%
TrendMonth
ODDS (%)
Bullish Trend 4 days ago
89%
Bullish Trend 4 days ago
87%
Advances
ODDS (%)
Bullish Trend 5 days ago
90%
Bullish Trend 4 days ago
89%
Declines
ODDS (%)
Bearish Trend 7 days ago
88%
Bearish Trend 8 days ago
81%
BollingerBands
ODDS (%)
Bearish Trend 4 days ago
88%
Bullish Trend 4 days ago
90%
Aroon
ODDS (%)
Bullish Trend 4 days ago
88%
Bullish Trend 4 days ago
89%
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COPX
Daily Signal:
Gain/Loss:
SLX
Daily Signal:
Gain/Loss:
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COPX and

Correlation & Price change

A.I.dvisor indicates that over the last year, COPX has been closely correlated with BHP. These tickers have moved in lockstep 83% of the time. This A.I.-generated data suggests there is a high statistical probability that if COPX jumps, then BHP could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To COPX
1D Price
Change %
COPX100%
-0.65%
BHP - COPX
83%
Closely correlated
-0.34%
WDS - COPX
57%
Loosely correlated
-1.64%
NEXA - COPX
30%
Poorly correlated
-0.36%
TKO - COPX
13%
Poorly correlated
-1.80%
MTAL - COPX
-3%
Poorly correlated
N/A
More

SLX and

Correlation & Price change

A.I.dvisor indicates that over the last year, SLX has been closely correlated with RIO. These tickers have moved in lockstep 81% of the time. This A.I.-generated data suggests there is a high statistical probability that if SLX jumps, then RIO could also see price increases.

1D
1W
1M
1Q
6M
1Y
5Y
Ticker /
NAME
Correlation
To SLX
1D Price
Change %
SLX100%
+0.13%
RIO - SLX
81%
Closely correlated
+0.42%
MT - SLX
80%
Closely correlated
+3.51%
VALE - SLX
73%
Closely correlated
-0.26%
TX - SLX
73%
Closely correlated
+0.03%
CMC - SLX
69%
Closely correlated
+2.23%
More