At a glance
COPX charges 0.65% a year, above the 0.52% average of the 6 funds most like it (the 5th cheapest of 7). It has $7.34B in assets, the largest of that group; it paid 2.52% of its price in distributions over the past 12 months, semiannual. Over the past year it returned +29.0% with distributions reinvested (S&P 500: +11.5%), 4th of those 7 funds; over three years it returned +34.1% a year. At its worst it fell 47.4% in the 2020 crash (S&P 500: 33.7%) and 42.1% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 3 months and 21 months after the lows. Its ten largest positions make up 50.3% of the fund, out of 48 in all.
The short version
Global X Copper Miners ETF (COPX) is an index fund that tracks the Solactive Global Copper Miners Total Return Index. As of July 31, 2026, it held 48 copper mining companies worldwide. With $7.3 billion in net assets, it is the largest of seven similar funds compared, but its 0.65% expense ratio is higher than their 0.52% average. Its swings can be extreme: it once fell 83% and did not recover until 2024.
Price history
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COPX +29.0% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| COPX official prospectus, to Dec 31, 2025 | — | +93.00% | — | +21.82% | +22.17% | — |
| MSCI ACWI Index (net) (USD) (Index returns reflect invested dividends net of withholding taxes, but reflect no deduction for fees, expenses, or other taxes) index, same period | — | +22.34% | — | +11.19% | +11.72% | — |
| COPX price data to Oct 27, 2026 | +7.2% | +29.0% | +34.1% | +18.3% | +18.4% | +5.5% |
- Over the year to Oct 27, 2026, COPX returned +29.0%, 4th of 7 among similar funds.
- Its 5-year annualized return was +18.3% and its 10-year +18.4%.
- In the 2020 COVID crash it fell 47.4% and regained its old high 3.4 months after the low.
- Its worst full calendar year was 2015 (-46.4%); its best was 2025 (+93.4%).
- The deepest fall in its price history was 83.3% (Apr 6, 2011 to Jan 20, 2016), recovered by Apr 26, 2024.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +7.2% | — |
| 2025 | +93.4% | +93.00% |
| 2024 | +3.6% | +3.27% |
| 2023 | +8.4% | +9.30% |
| 2022 | -0.7% | -0.69% |
| 2021 | +23.4% | +24.01% |
| 2020 | +51.6% | +50.95% |
| 2019 | +12.5% | +11.68% |
| 2018 | -31.3% | -30.66% |
| 2017 | +38.9% | +36.75% |
| 2016 | +70.4% | +72.66% |
| 2015 | -46.4% | — |
| 2014 | -19.6% | — |
| 2013 | -27.5% | — |
| 2012 | +4.8% | — |
| 2011 | -30.8% | — |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 47.4% over that stretch · deepest drop along the way 47.4%, back to its old high 3.4 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 21% over that stretch · deepest drop along the way 42.1%, back to its old high 20.7 months after the low |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2026 (to date) | $0.2600 | |
| 2025 | $1.9200 | +178.3% |
| 2024 | $0.6900 | -22.5% |
| 2023 | $0.8900 | -20.5% |
| 2022 | $1.1200 | +103.6% |
| 2021 | $0.5500 | +41.0% |
| 2020 | $0.3900 | +39.3% |
| 2019 | $0.2800 | -40.4% |
| 2018 | $0.4700 | +9.3% |
| 2017 | $0.4300 | +258.3% |
| 2016 | $0.1200 | -14.3% |
| 2015 | $0.1400 | -72.8% |
| 2014 | $0.5152 | +142.9% |
| 2013 | $0.2121 | -83.7% |
| 2012 | $1.3030 | -52.7% |
| 2011 | $2.7576 |
What's inside
As of Jul 31, 2026, the fund held 48 securities; the ten largest made up 50.34% of assets.
| Holding | Weight | |
|---|---|---|
| BHP GROUP LIMITED | 5.48% | |
| Teck Resources Limited | 5.39% | |
| Hudbay Minerals Inc. | 5.26% | |
| SOUTHERN COPPER CORPORATION | 5.08% | |
| FIRST QUANTUM MINERALS LTD. | 5.05% | |
| GLENCORE PLC | 5.02% | |
| ANTOFAGASTA PLC | 5.00% | |
| KGHM POLSKA MIEDZ SPOLKA AKCYJNA | 4.76% | |
| FREEPORT-MCMORAN INC. | 4.76% | |
| Zijin Mining Group Company Limited | 4.54% | |
| Boliden AB | 4.35% | |
| Lundin Mining Corporation | 4.29% | |
| Sumitomo Metal Mining Co., Ltd. | 3.84% | |
| CAPSTONE COPPER CORP. | 3.58% | |
| SANDFIRE RESOURCES LIMITED | 3.54% |
By country
Canada 33.27%Hong Kong 14.94%United States 14.47%United Kingdom 10.83%Australia 10.04%By asset type
Stocks 99.87%RA 2.59%What changed recently
- Over the three months to Jul 31, 2026, investors added a net $126.4M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +2.67%, -12.39%, +11.19%.
How it works
COPX tracks the Solactive Global Copper Miners Total Return Index. Solactive AG designed the index to measure global companies in copper mining and in closely related work such as exploration and refining. Solactive is independent of the fund's adviser, Global X Management Company LLC, and it sets the index weights. As of December 31, 2025, the index had 41 companies, and 37 of them were foreign. The fund keeps at least 80% of its assets in index stocks or their depositary receipts, which are certificates that represent foreign shares.
The fund generally uses replication, which means it buys the index stocks in about the same proportions as the index. When some shares are hard or costly to buy, it may hold a representative sample instead. Before fees, the adviser expects the fund to track the index with more than 95% correlation. The fund does not try to beat the index, and it does not move to cash when markets fall. The prospectus filed February 26, 2026 reports portfolio turnover of 21.67%.
The fund is non-diversified, meaning it can put more money in fewer companies, and it is concentrated in metals and mining. As of July 31, 2026, its top ten holdings made up about 50% of assets, led by BHP Group, Teck Resources and Hudbay Minerals. Canadian companies were 33% of the fund. Because it owns mining stocks rather than copper, it can lag or beat the metal's price. It may also lend out up to one-third of its assets.
What it really costs
- COPX charges 0.65% a year, versus an average of 0.52% for the similar funds below (5th of 7, cheapest first).
- Using the prospectus's standard example, $10,000 invested would cost about $66 in the first year and $810 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| COPX | $66 | $208 | $362 | $810 |
In a retirement portfolio
Its 47.2% one-year volatility and 2.35 beta as of October 27, 2026, plus a historical drop of 83.3%, point to a small add-on rather than a foundation.
COPX adds concentrated exposure to copper miners, which gained 93% in 2025, but its swings are severe. The fund launched in April 2010, so it has no record from the 2008 crisis. In the 2020 COVID crash it fell 47.4% and recovered in about 3.4 months. In 2022 it dropped 42.1% between April and July and took 20.7 months to recover. Its worst calendar year was 2015, when it lost 46.4%. Its deepest drop was 83.3%, from April 2011 to January 2016, and it did not fully recover until April 2024. Anyone forced to sell shares in a slump could lock in steep losses.
Income is modest. The trailing yield was 2.52% as of October 27, 2026, paid twice a year. At 0.65%, its cost is above the average of similar funds. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors who want a small global slice of copper miners such as BHP Group, Teck Resources and Freeport-McMoRan alongside a broad core portfolio.
- Those who value fund size: with $7.3 billion in net assets as of July 31, 2026, it is the largest of seven similar funds compared.
- Long-term holders who can sit through long slumps, like the 83.3% drop from 2011 to 2016 that took until April 2024 to recover.
Look elsewhere if
- Cost-focused investors: Themes Copper Miners ETF (COPA) charges 0.35% and iShares Copper and Metals Mining ETF (ICOP) 0.47%, compared with 0.65% for COPX.
- Retirees who may need to sell during downturns. COPX fell 47.4% in early 2020 and lost 46.4% in calendar year 2015.
- Investors seeking direct exposure to copper prices. COPX holds mining stocks, which can beat or lag the metal itself for long periods.
Close alternatives
Matched by holdings overlap from the latest N-PORT reports.
| Fund | Overlap | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|---|
| COPX this fund | — | 0.65% | $7.34B | +29.0% | +34.1% |
| COPA Themes Copper Miners ETF | 57% | 0.35% | $13.0M | +32.4% | — |
| COPP Sprott Copper Miners ETF | 55% | 0.65% | $285.7M | +36.3% | — |
| ICOP iShares Copper and Metals Mining ETF | 55% | 0.47% | $428.8M | +34.1% | +33.4% |
| EMET VanEck Copper and Electrification Metals ETF | 45% | 0.66% | $34.2M | +18.9% | +20.5% |
| PICK iShares MSCI Global Metals & Mining Produce… | 30% | 0.39% | $2.58B | +26.0% | +18.5% |
| EART Global X Rare Earth & Critical Materials ETF | 26% | 0.59% | $38.8M | +4.5% | +21.5% |
Questions investors ask
Does COPX pay dividends?
Yes. COPX pays dividends twice a year. Its trailing 12-month yield was 2.52% as of October 27, 2026, or about $1.93 per share. The payouts come from the dividends paid by the mining companies it holds, such as BHP Group, Glencore and Southern Copper. Those dividends depend on company profits, so they can rise or fall from year to year. COPX is not designed as an income fund.
What's the difference between COPX and COPA?
Both funds hold copper mining stocks, and about 57% of their holdings overlap, based on the latest N-PORT reports. The main differences are cost and size. Themes Copper Miners ETF (COPA) charges 0.35% a year, compared with 0.65% for COPX. COPX is far larger: it had $7.3 billion in net assets as of July 31, 2026, against about $13 million for COPA as of June 30, 2026. For the year to October 27, 2026, COPA returned 32.4% and COPX 29%.
Does COPX track the price of copper?
No. COPX owns shares of copper mining companies, not copper itself. Miner stocks often move with copper prices, but they also reflect each company's costs, debts, management and operating risks. The prospectus warns that these stocks may do better or worse than copper over both short and long periods. It also notes that mining companies may earn a large share of their profits from other business activities, which adds exposure beyond the metal.
What are COPX's top holdings?
As of July 31, 2026, COPX's largest holdings were BHP Group (5.5%), Teck Resources (5.4%), Hudbay Minerals (5.3%), Southern Copper (5.1%), First Quantum Minerals (5.0%), Glencore (5.0%) and Antofagasta (5.0%). KGHM Polska Miedz, Freeport-McMoRan and Zijin Mining came next. Together, the top ten made up about 50% of assets. By country, Canada led at 33%, followed by Hong Kong at 15% and the US at 14%.
Is COPX a good long-term investment?
It has rewarded patient holders at times, but with extreme risk. In the 10 years through December 31, 2025, COPX returned 22.17% a year, compared with 11.72% for the MSCI ACWI Index, a broad global stock benchmark. That period began near the low point of an 83.3% drop from 2011 to 2016, and the fund did not fully recover until April 2024. It also lost 30.66% in 2018. Whether it fits depends on how much volatility a portfolio can absorb.