Copper ETFs

Global X Copper Miners ETF

The Global X Copper Miners ETF (COPX) is the largest and most liquid US-listed copper ETF, tracking the Solactive Global Copper Miners Total Return Index. The fund invests in a diversified basket of global copper mining companies, with holdings spanning major producers in the Americas, Europe, Australia, and Asia.

COPX offers broad equity exposure to copper miners, and its scale and daily trading volume make it easy to trade in size. The fund’s holdings are heavily concentrated in the materials sector (over 96%), but the basket includes diversified miners whose revenues are only partly tied to copper — so this is copper-mining equity exposure rather than pure-play copper.

United States Copper Index Fund

The United States Copper Index Fund (CPER) is the primary US-listed ETF offering direct, unleveraged exposure to copper commodity prices through futures contracts. (CPXR, also on this list, is a 2x daily-leveraged version of the same index for short-term traders.) The fund tracks the SummerHaven Copper Index Total Return, which reflects the performance of copper futures on the COMEX exchange. The index is rebalanced monthly based on observable price signals to select one to three eligible copper futures contracts.

CPER is structured as a commodity pool regulated by the CFTC, meaning it issues a Schedule K-1 tax form rather than a standard 1099. This makes CPER distinct from equity-based copper ETFs — it provides purer commodity price exposure without company-specific risk, but investors should be aware of futures roll costs and the added tax filing complexity. The holdings table shows each contract as a share of the fund's copper exposure; the collateral backing those contracts, held in Treasury bills and cash equivalents, is not listed.

iShares Copper and Metals Mining ETF

The iShares Copper and Metals Mining ETF (ICOP) tracks the STOXX Global Copper and Metals Mining Index, a market-capitalization-weighted index of global companies primarily engaged in copper and metal ore mining. The fund offers broad diversified exposure to both major and mid-tier copper producers, including diversified miners with significant copper operations.

ICOP charges a 0.47% expense ratio — among the lower-cost of the larger copper funds, though the much smaller COPA is cheaper at 0.35%. The fund launched in June 2023. Its broader “copper and metals mining” mandate means ICOP holds some diversified miners like BHP, Newmont, and Anglo American that derive meaningful but not exclusive revenue from copper — giving the fund a slightly wider footprint than pure-play copper miners ETFs.

Sprott Copper Miners ETF

The Sprott Copper Miners ETF (COPP) tracks the Nasdaq Sprott Copper Miners Index, providing pure-play exposure to global copper producers, developers, and explorers. The fund is distinguished by its concentrated portfolio, with Freeport-McMoRan at roughly a quarter of the fund on the August 2026 holdings snapshot — the largest single-stock weighting among US-listed copper ETFs.

COPP also includes a unique allocation to the Sprott Physical Copper Trust, giving the fund a small element of physical copper exposure alongside its equity holdings. The index is rebalanced semi-annually in June and December. Launched in March 2024, COPP is Sprott’s concentrated copper miners fund focused on the largest copper producers.

Sprott Junior Copper Miners ETF

The Sprott Junior Copper Miners ETF (COPJ) is the only US-listed ETF focused exclusively on small and mid-cap copper mining companies. The fund tracks the Nasdaq Sprott Junior Copper Miners Index, which selects companies based on their potential for significant revenue and asset growth in the copper space. With around 70 holdings, COPJ provides diversified exposure to the emerging end of the copper mining industry.

COPJ targets the higher-growth, higher-risk segment of the copper market — junior miners, developers, and explorers working to bring new copper supply online. Many of these companies are developing greenfield projects or expanding existing operations, so their value depends on permitting, financing and construction progress as well as on the copper price. The fund carries higher risk than the large-cap miners funds and is more sensitive to copper prices through smaller companies.

Kurv Copper & Mining Enhanced Income ETF

The Kurv Copper & Mining Enhanced Income ETF (KCOP) is an actively managed fund that builds synthetic exposure to copper and copper-mining equities (notably the COPX ETF) through options and forwards held against a Treasury bill collateral base, with derivative exposure permitted up to 200% of net assets. It sells options on copper and copper-related products to generate monthly income distributions.

KCOP is an options-income product, not a plain copper equity index fund: its yield and return mechanics are not comparable to the buy-and-hold miners funds on this list, and its holdings are dominated by Treasury bills and option positions. It launched in February 2026.

USCF Daily Target 2X Copper Index ETF

The USCF Daily Target 2X Copper Index ETF (CPXR) seeks 200% of the single-day return of the SummerHaven Copper Index, the same benchmark CPER tracks at 1x. Launched in January 2025, CPXR is a registered investment company (1099 tax reporting) rather than a commodity pool, despite its futures-based strategy.

CPXR is a short-term trading tool, not a buy-and-hold copper investment. Its daily-reset structure means returns compound daily: over periods longer than one day, its performance will very likely diverge — sometimes sharply, and potentially in the opposite direction — from 2x the underlying index return, especially in volatile markets. The fund itself warns investors could lose their full principal in a single day. It is built for single-day tactical use, not the buy-and-hold exposure the unleveraged equity and futures funds provide.

The holdings table shows each futures contract as a share of the fund's copper exposure. Because the fund is a 2x product, the futures book is roughly twice net assets, backed by government money-market and cash collateral that is not listed.

Themes Copper Miners ETF

The Themes Copper Miners ETF (COPA) tracks the BITA Global Copper Mining Select Index, a basket of companies engaged in copper mining, exploration and refining. Holdings span major diversified producers such as Freeport-McMoRan, Glencore and BHP alongside mid-cap pure plays across the US, UK, Canada, Australia and China.

Its 0.35% expense ratio was among the lowest of US-listed copper miner equity ETFs as of July 2026, though it remains one of the smallest funds on this list by assets.

Defiance Daily Target 2X Long Copper Miners ETF

The Defiance Daily Target 2X Long Copper Miners ETF (COPZ) seeks 200% of the single-day price performance of the Global X Copper Miners ETF (COPX), before fees and expenses, using total-return swap agreements held against cash collateral.

COPZ is a short-term trading tool, not a buy-and-hold copper investment. Its daily-reset structure means returns compound daily: over periods longer than one day its performance can diverge substantially, and potentially in the opposite direction, from 2x the underlying return. Like CPXR, it is built for single-day tactical use, not the buy-and-hold exposure the equity and futures funds provide. It launched in February 2026. The holdings table shows each swap counterparty as a share of the fund's total exposure: the swap book is roughly twice net assets and is backed by Treasury bills and cash held as collateral, which are not listed.