Investing in copper: How EVs, renewables and infra are reshaping the metal’s future - 3 top ETFs

Copper is rapidly being redefined in global markets, evolving from a cyclical industrial metal into a strategic asset at the heart of two of the 21st century’s biggest shifts: digitalisation and the energy transition. Once closely tied to construction and manufacturing cycles, copper is now essential for electric vehicles, renewable power, data centres and power grids. With prices frequently crossing $13,000 per tonne and analysts projecting a structural supply deficit by 2026, the narrative has moved decisively from oversupply risk to long-term scarcity.

This changing dynamic has drawn growing interest from investors looking to capitalise on copper’s expanding role in the global economy. Wealth expert Advait Arora, Founder of Wealth Enrich, says copper should now be viewed alongside traditional strategic assets. “If you are interested in copper, think EVs, renewables, infrastructure and the new gold,” he said, pointing to the metal’s rising importance in future-facing industries.

For investors seeking exposure, Arora highlights three exchange-traded funds as potential routes into the theme. These include the Global X Copper Miners ETF (COPX), the United States Copper Index Fund (CPER) and the iShares Copper and Metals Mining ETF (ICOP), each offering a different way to participate in the copper story.

Let's look at copper ETFs suggested by Arora:

Global X Copper Miners ETF (COPX)

Among these, COPX is the largest and most established option. With net assets of about $5.83 billion and an expense ratio of 0.65 per cent, the fund holds stakes in around 40 copper mining companies worldwide. Its portfolio includes major producers such as Lundin Mining, KGHM Polska Miedz, Southern Copper, Freeport-McMoRan and Glencore. As of mid-January 2026, the fund’s net asset value stood at $81.94. Strong performance has underlined investor enthusiasm, with the ETF delivering nearly 67 per cent returns over the past year, reflecting the surge in copper prices and mining equities.

United States Copper Index Fund (CPER)

For those seeking more direct exposure to copper prices rather than mining stocks, CPER offers a different approach. The fund tracks copper futures and provides investors with a closer link to movements in the commodity itself. With net assets of about $456 million, CPER has posted a one-year return of nearly 38 per cent, driven by rising futures prices. However, its higher expense ratio of just over 1 per cent and the inherent volatility of futures-based products make it better suited to investors with a higher risk appetite.

iShares Copper and Metals Mining ETF 

Meanwhile, ICOP targets a broader metals mining universe, tracking the STOXX Global Copper and Metals Mining Index. Launched in 2023, the fund has quickly gained traction, with holdings in global mining majors such as Anglo American, BHP Group, Freeport-McMoRan and Grupo México. The ETF delivered close to 78 per cent returns in 2025, reflecting strong momentum across the mining sector.

Access to global ETFs

For Indian investors, access to these global ETFs is possible through platforms that enable overseas investing under the Liberalised Remittance Scheme. While this opens the door to international diversification, investors must factor in currency risk, expense ratios and LRS limits. It is also important to note that most such funds provide exposure to mining companies rather than to spot copper prices.

Despite its long-term promise, copper remains a cyclical commodity and not a traditional safe haven like gold. Demand can weaken sharply during economic slowdowns, while prices remain sensitive to geopolitical developments and policy shifts in major producing nations. At the same time, supply constraints persist, with new mines often taking more than a decade to develop. This combination of rising structural demand and slow-moving supply suggests that copper’s investment case is compelling, but one that comes with significant volatility alongside opportunity.