Copper Miner ETF COPX Surges 92% in a Year, Outpacing USO as Demand Story Shifts

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Summary · why it matters

The Global X Copper Miners ETF, trading under the ticker COPX, delivered a trailing 12-month return of 92.29% through June 23, sharply outperforming the United States Oil Fund, or USO, which was dragged down by contango and a 22.3% drop in West Texas Intermediate crude over the past month. COPX holds 46 copper mining stocks, with top positions Freeport-McMoRan and Southern Copper reporting sharply higher earnings as copper prices rose, a leverage effect that USO cannot replicate. The U.S. added copper to its Critical Minerals list, and demand is projected to rise materially through 2040, driven by grid buildout, electric vehicles, and AI data centers. COPX carries a 0.65% expense ratio on 7.71 billion dollars in assets and pays a trailing dividend of 1.92 dollars, equivalent to a 2.42% yield, while USO pays nothing. The fund’s 52-week range of 41.51 to 99.99 dollars highlights its volatility, and it dropped 11.49% in the past week alone, reflecting mine-level operational risks and jurisdictional exposure in Peru, Chile, and the Democratic Republic of the Congo.

Impact on stocks 3

Critical Materials & Supply Chain▲ · 2 stocks
Freeport-McMoran Copper & Gold Inc
FCX
▲ PositiveDemandrelevance

Copper demand projected to rise materially through 2040 driven by grid buildout, EVs, and AI data centers; Freeport-McMoRan is a top holding in COPX.

Southern Copper Corporation
SCCO
▲ PositiveDemandrelevance

Copper demand projected to rise materially through 2040 driven by grid buildout, EVs, and AI data centers; Southern Copper is a top holding in COPX.

Artificial Intelligence▲ · 1 stocks

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