ICOP Outshines Copper Futures with 29.3% YTD Gain

Copper's price has been on an upward trend, supported by robust technical and fundamental trends. The iShares Copper and Metals Mining ETF (ICOP) has outperformed copper futures in 2026, rising 29.3% YTD compared to copper's 16-18% gains.

This performance can be attributed to mining companies' expanding profit margins, as well as supply-demand deficits, green energy growth, AI data center expansion, and stagnant production underpinning copper's bullish outlook. China's demand is a key variable in this trend.

The author of the article recommends accumulating ICOP on pullbacks, citing volatility and macro/geopolitical risks that may trigger corrections despite the strong long-term thesis.