$COPX vs $ICOP: Weighing Two Copper Mining ETFs for Thematic Exposure COPX tracks a copper miners-specific index with approximately 40 holdings, emphasizing pure-play copper producers, while ICOP follows a broader copper and metals mining index with around 46-65 holdings that include diversified miners. ICOP offers a lower expense ratio of 0.47% compared to COPX’s 0.65%, potentially improving net returns for long-term investors in similar thematic exposure. Both ETFs provide passive exposure to the copper sector but differ in concentration: COPX tends toward higher weighting in mid-sized pure copper miners, whereas ICOP allocates more to larger, diversified metals companies.