Copper exchange-traded funds (ETFs) offer a simple way to invest in one of the world’s most important industrial metals. These funds typically hold shares of copper mining companies or track copper prices through futures contracts, giving investors broad exposure without picking individual stocks.
Copper’s role in the global economy is only growing. It’s a top-tier conductor of electricity and a critical input for power grids, wind energy, electric vehicles, and other technologies tied to electrification and emissions reduction. As more of the economy shifts toward electricity, demand for copper is expected to rise.
For investors looking to tap into that trend with diversification built in, copper-focused ETFs can be an accessible option.
Types of copper ETFs
Not all copper ETFs work the same way. Broadly, they fall into two categories:
- Copper miners ETFs: These funds hold shares of companies that mine copper, often alongside other metals and minerals.
- Copper futures ETFs: These funds aim to track the price of copper by investing in futures contracts linked to copper prices.
Mining ETFs tend to suit long-term investors, while futures ETFs are typically used for short-term price exposure.
Three top copper ETFs
A few ETFs provide investors with direct exposure to the copper market. Here are three top copper-focused ETFs to consider:
Copper ETF | Ticker symbol | Assets under management | Focus |
|---|---|---|---|
Global X Copper Miners ETF | $5.2 billion | Copper miners | |
United States Copper Index ETF | $523.0 million | Copper futures | |
iShares Copper and Metals Mining ETF | $232.9 million | Copper and metals mining companies |
Data source: ETF Database. Data as of Jan. 13, 2026.
1. Global X Copper Miners ETF
NYSEMKT: COPX
Key Data Points
The Global X Copper Miners ETF (COPX +2.09%) provides investors with access to a range of copper mining companies. The ETF held more than 40 copper stocks in early 2026, led by the following five:
- KGHM Polska Miedz: 5.8% of the fund's assets.
- Lundin Mining (LUNMF +3.20%): 5.7%.
- Boliden: 5.2%
- Freeport-McMoRan (FCX +0.85%): 5.1%.
- Southern Copper (SCCO -1.18%): 4.9%.
The ETF gives investors targeted exposure to the entire copper mining industry. It allows investors to hold a broad basket of copper mining stocks for a modest ETF expense ratio of 0.65%.
One drawback to investing in copper mining stocks is that they can underperform the price of copper due to cost overruns, mismanagement, or other issues. Many also produce other metals such as iron ore, aluminum, and gold, which can dilute the impact of higher copper prices.
However, copper mining stocks can also potentially outperform copper if they can expand production amid rising copper prices. They also offer the potential to collect dividend income.
2. United States Copper Index ETF
NYSEMKT: CPER
Key Data Points
NASDAQ: ICOP
Key Data Points
The iShares Copper and Metals Mining ETF (ICOP +1.87%) aims to provide investors with exposure to global copper and metal ore miners that should benefit from rising demand for the metal.
The copper ETF held shares of almost 50 mining companies in early 2026, led by:
- Freeport-McMoRan: 8.5% of the fund's holdings.
- Anglo American (NGLOY +5.10%): 7.8%.
- Grupo México: 7.7%.
- BHP Group (BHP +1.90%): 7.2%.
- Newmont (NEM -0.03%): 5.9%.
The iShares Copper and Metals Mining ETF had a 0.47% expense ratio.
Pros and cons of investing in copper ETFs
Investing in copper ETFs has its benefits and drawbacks.
Pros
- Broad exposure: Mining ETFs provide diversified access to the copper sector.
- Income potential: Many copper miners pay dividends, which mining ETFs pass along to investors.
- Leverage to demand growth: Rising copper demand can support higher prices and stronger company performance.
Cons
- Not pure plays: Most miners produce multiple metals, diluting direct exposure to copper.
- Tracking differences: Mining ETFs may lag copper prices, while futures ETFs can underperform due to contract roll costs.
- Volatility: Copper prices can swing sharply with economic conditions and supply changes.
How to use copper ETFs in a portfolio
Copper ETFs are best viewed as a way to express a long-term view on electrification, infrastructure spending, and global industrial growth. However, they aren’t perfect proxies for copper prices.
Between the two approaches, mining-focused ETFs generally offer a better risk–reward profile for many long-term investors, as company earnings and dividends can add returns beyond commodity price moves. Futures-based ETFs are typically better suited for shorter-term positioning.
Future outlook for copper ETFs
Most forecasters expect copper demand to rise over the coming decade. Under Wood Mackenzie’s base-case scenario, global copper demand could increase 24% by 2035, driven by economic growth and the accelerating shift toward electrification.
If that demand materializes, higher copper prices should support both mining profits and copper-focused ETFs over the long run, making them a compelling, though volatile, way to gain exposure to this critical metal.
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