Skip to content
etf.net

COPZ

GradeCNew York Stock Exchange Arca

Defiance Daily Target 2X Long Copper Miners ETF

Leveraged · Leveraged & Inverse · Defiance · Inception 2026-02-17

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$16.21−1.26 (−7.22%)

As of Sep 23, 2026, 2:03 PM EDT

History starts Feb 17, 2026.History starts Feb 17, 2026.
Intraday session: down, 16 prints from 17.47 to 16.21. Range 16.04 to 17.47. Use the arrow keys to read each point.$16.00$16.50$17.00$17.5010 AM12 PM2 PM4 PM
Expense ratio
0.95%
Fund size
$7M
1Y return
—
Yield · Last 12 months
—
Holdings
8
Volume · 30D
0M sh
NAV per share
$16.46
52W range
low $12.01high $25.86

The ETF.net COPZ Grade

C

47/ 100

Rank 30 of 99 in Leveraged Long (2x & Other)⁠

Confidence High

Six-pillar profile for COPZ. Scores out of 100: Cost 65, Risk 22, Mission 96, Tradability 38, Holdings not scored, Durability 43. Strongest: Mission (96). Weakest: Risk (22). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 47 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    BScore 65
    Category rank31/99 · top 31%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 96
    Category rank2/10 · top 20%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 22
    Category rank83/94 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 38
    Category rank67/99 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 43
    Category rank60/99 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on COPZ

ETF.net Research

CCopper miners, doubled. This fund aims to deliver twice the daily move of a global copper-miner stock basket, resetting each session. Its own documents call it a short-term, actively monitored tool, not a park-it holding.

Stated mandate

The Fund seeks daily investment results equal to twice the daily percentage change in the share price of COPX, before fees and expenses. It is intended for short-term, actively monitored use rather than periods longer than one trading day.

Why people hold it

  1. 01One ticker for a geared copper bet: it aims for 2x the daily move of a global copper-miner basket, no margin account required.defianceetfs.com
  2. 020.95% expense ratio, at the cheaper end of the daily-leveraged shelf rather than the premium end.
  3. 032x, not 3x. Each day's move is amplified less than in the triple-leveraged staples like FAS that dominate this corner.
  4. 04The thing underneath is a listed copper-miner ETF, so you can watch the actual reference basket trade all day instead of guessing at a bespoke index.

Worth knowing

  1. 01The leverage resets every day. Hold longer and returns compound off a new base each session, which can pull results well away from 2x the period move.
  2. 02Copper miners swing hard on their own. Doubling that daily makes for a genuinely volatile ride, and drawdowns can be deep and fast.
  3. 03A 2026 launch that is small and lightly traded, so spreads and limit orders matter more here than with the household-name leveraged funds.

COPZ Holdings

As of Sep 20, 2026, 5:08 AM
Asset class
Other
Holdings
8
Top-10 weight
235%
Largest holding
GLOBAL X COPPER SWAP CLST-L41.8%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—GLOBAL X COPPER SWAP CLST-L41.82%32,972$3M1
002—GLOBAL X COPPER MINERS ETF-SWAP-NBCB-L40.78%32,155$3M1
003—GLOBAL X COPPER SWAP NMRA-L40.23%31,716$3M1
004—GLOBAL X COPPER SWAP MREX-L39.12%30,844$3M1
005—GLOBAL X COPPER SWAP CANT-L38.05%30,000$3M1
006—United States Treasury Bill 11/19/202621.66%1,500,000$1M48
007—First American Government Obligations Fund 12/01/203113.39%921,624$922K625

Showing 1–7 of 7 holdings

COPZ Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

COPZ$10,368
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. COPZ $10,368. SPY $10,415. Use the arrow keys to read each point.$6,865$9,703$12,541Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for COPZ. Periods over one year show the average yearly return.
PeriodCOPZ
Year to dateFund launched this year—
1 month−11.6%
3 months+3.7%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for COPZ
YearReturn barCOPZ
2026 YTD−12.7%

Since listing, Feb 17, 2026

COPZ in the news

ETF.net Research hasn’t filed on COPZ yet — coverage lands here as it’s written.

COPZ Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Feb 2026. No distributions yet.

COPZ Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Feb 2026; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Feb 2026; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Feb 2026; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
3.38
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

COPZ Cost

Expense ratio0.95%
  • The middle half of Leveraged Long (2x & Other) funds
  • Median 0.99%

29 of the 93 Leveraged Long (2x & Other) funds charge less.

COPZ costs $95.00 a year on $10,000. The median Leveraged Long (2x & Other) fund costs $99.00.