iShares Copper and Metals Mining ETF (ICOP US) – Portfolio Construction Methodology

The underlying STOXX Global Copper and Metals Mining Index offers targeted exposure to global copper miners by selecting companies from the STOXX Global Copper Universe index with significant copper-mining exposure. Starting from developed and emerging-market stocks linked to copper ore via RBICS Focus or revenue data, the review applies investability filters: minimum free-float market cap of 100 million USD, 3-month ADTV of at least 1 million USD, foreign-ownership adjustments and a 0.2 multiplier for China A shares, while excluding Indian listings. Selection proceeds in tiers: Tier 1 includes companies classified in the Copper Ore Mining focus; Tier 2 adds firms with 25–50% of revenue from copper ore, ranked by exposure until at least 50 names; Tier 3 then adds high market-share copper producers based on dollar revenues. Constituents are free-float-cap-weighted subject to a Tier 3 aggregate cap of 20%, issuer caps of 8%, and a 4.5%/45% bucket limit, with annual September reviews and quarterly rebalances.

To explore ICOP in more depth, visit our ETF analytics platform for institutional-grade insights — including performance and risk metrics, correlations, sensitivities, and factor exposure: https://www.etfstrategy.com/etf/ICOP_US