ICOP vs SPY
iShares Copper and Metals Mining ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. ICOP delivered stronger 1-year returns. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | ICOP | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.47% | 0.09% | |
| AUM | $425M | $789.1B | |
| Dividend Yield | 1.81% | 1.01% | |
| Holdings | 60 | 505 | |
| YTD Return | +20.23% | +14.47% | |
| 1Y Return | +72.93% | +21.96% | |
| 3Y Return (annualized) | +34.17% | +21.70% | |
| 5Y Return (annualized) | - | +13.30% | |
| Volatility (annualized) | 28.5% | 15.3% | |
| Max Drawdown | -37.6% | -56.5% | |
| Fund Family | iShares by BlackRock (US) | State Street Investment Management | |
| Category | Equity | Equity | |
| Inception | Jun 21, 2023 | Jan 22, 1993 |
ICOP vs SPY Performance
iShares Copper and Metals Mining ETF (ICOP) is a ETF from iShares by BlackRock (US) and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year ICOP returned +72.93% while SPY returned +21.96%. Year to date, ICOP is up 20.23% versus a gain of 14.47% for SPY.
Over three years, ICOP compounded at +34.17% per year against +21.70% for SPY. Across the full 3-year window we track, ICOP has the edge at +32.82% annualized vs +8.87%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
ICOP has been the more volatile fund, with annualized monthly volatility of 28.5% compared with 15.3% for SPY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -37.6% for ICOP and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.42. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
ICOP charges 0.47% per year while SPY charges 0.09%. On a $10,000 position that is $47 vs $9 annually, a gap of $38 per year that compounds over a long holding period. On income, ICOP currently yields 1.81% against 1.01% for SPY.
Holdings Overlap
ICOP and SPY share 1 holdings out of 548 unique holdings combined, representing a 0.2% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Top Shared Holdings
| Stock | Weight in ICOP | Weight in SPY | Difference |
|---|---|---|---|
| NEM | 3.42% | 0.16% | 3.26% |
Frequently Asked Questions
Which is cheaper, ICOP or SPY?
ICOP has an expense ratio of 0.47% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $38 per year of difference.
Which performed better, ICOP or SPY?
Over the past year ICOP returned +72.93% vs +21.96% for SPY, so ICOP leads on 1-year performance. Over the longest common window we track (3 years), ICOP annualized +32.82% vs +8.87% for SPY. Past performance does not guarantee future results.
Which is riskier, ICOP or SPY?
ICOP has been the more volatile fund at 28.5% annualized versus 15.3% for SPY. Worst drawdown: ICOP -37.6% vs SPY -56.5%.
Should I hold both ICOP and SPY?
ICOP and SPY have a monthly-return correlation of 0.42, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between ICOP and SPY?
ICOP and SPY share 1 common holdings with a 0.2% weight overlap. Combined, they hold 548 unique securities.
Which pays a higher dividend, ICOP or SPY?
ICOP yields 1.81% while SPY yields 1.01%, so ICOP currently pays the higher dividend yield.
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