ICOP is trading 4.2% higher today, moving in line with a broad risk-on rally in U.S. equities and significant strength in the materials and metals mining sectors.
- The advance is supported by solid earnings sentiment and easing Middle East tensions relative to last week’s worst-case projections.
- Renewed concerns regarding the Strait of Hormuz are providing a tailwind for commodity-related plays and inflation hedges.
- The ETF, which tracks global copper and metals mining companies, is benefiting from a wider market rotation back into risk assets.