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ISIN
US9117181043
CUSIP
911718104
Issuer
USCF
Inception Date
Nov 15, 2011
Category
Metals
Leveraged
1x (No leverage)
Index Tracked
SummerHaven Copper Index Total Return
Domicile
United States
Distribution Policy
Accumulating
Asset Class
Commodity
Assets Under Management
$343M

Share Price Chart


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Performance

CPER Performance Chart

United States Copper Index Fund (CPER) is up 10.4% since the beginning of the year. CPER is currently trading at $39 per share. Investors who bought $1,000 worth of CPER shares 5 years ago would now be looking at an investment worth $1,395.


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S&P 500 Index

Returns By Period

United States Copper Index Fund (CPER) has returned 10.41% so far this year and 25.81% over the past 12 months. Over the last ten years, CPER has returned 11.09% per year, falling short of the S&P 500 Index benchmark, which averaged 13.42% annually.


United States Copper Index Fund

1D
0.13%
1M
0.86%
YTD
10.41%
6M
18.22%
1Y
25.81%
3Y*
18.36%
5Y*
6.89%
10Y*
11.09%

Benchmark (S&P 500 Index)

1D
-0.26%
1M
-0.17%
YTD
7.91%
6M
7.98%
1Y
22.99%
3Y*
19.77%
5Y*
11.75%
10Y*
13.42%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CPER Monthly Returns History

Based on dividend-adjusted daily data since Nov 15, 2011, CPER's average daily return is +0.02%, while the average monthly return is +0.41%. At this rate, an investment would double in approximately 14.1 years.

Historically, 53% of months were positive and 47% were negative. The best month was Nov 2016 with a return of +16.9%, while the worst month was Jun 2022 at -14.4%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 7 months.

On a daily basis, CPER closed higher 46% of trading days. The best single day was Jan 19, 2016 with a return of +11.0%, while the worst single day was Jul 30, 2025 at -19.3%.


JanFebMarAprMayJunJulAugSepOctNovDecTotal
20264.20%1.24%-6.64%6.10%6.38%-0.67%10.41%
20256.72%5.70%11.35%-9.68%2.87%7.77%-13.24%2.48%6.65%5.10%2.38%8.30%38.95%
20240.21%-1.24%5.15%12.70%0.39%-4.26%-3.64%0.34%7.75%-3.49%-5.70%-2.48%4.23%
202311.04%-3.12%0.40%-4.37%-5.16%2.56%6.98%-5.16%-2.21%-1.39%4.85%1.43%4.55%
2022-2.61%3.40%4.78%-7.87%-1.81%-14.44%-2.34%-2.63%-3.22%-0.49%12.14%1.18%-15.14%
20210.82%14.56%-1.91%11.41%5.18%-9.08%4.38%-2.48%-6.18%7.15%-2.35%3.82%25.21%

Benchmark Metrics

United States Copper Index Fund has an annualized alpha of -0.74%, beta of 0.48, and R2 of 0.11 versus S&P 500 Index. Calculated based on daily prices since November 15, 2011.

  • This ETF participated in 75.16% of S&P 500 Index downside but only 44.21% of its upside - more exposed to losses than it benefited from rallies.
  • Beta of 0.48 may look defensive, but with R2 of 0.11 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
  • R2 of 0.11 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

Alpha
-0.74%
Beta
0.48
0.11
Upside Capture
44.21%
Downside Capture
75.16%

Expense Ratio

CPER has a high expense ratio of 1.06%, indicating above-average management fees.


Return for Risk

Risk / Return Rank

CPER ranks 24 for risk / return — below 24% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.


CPER Risk / Return Rank: 2424
Overall Rank
CPER Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
CPER Sortino Ratio Rank: 2222
Sortino Ratio Rank
CPER Omega Ratio Rank: 3030
Omega Ratio Rank
CPER Calmar Ratio Rank: 2525
Calmar Ratio Rank
CPER Martin Ratio Rank: 2121
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below present risk-adjusted performance metrics for United States Copper Index Fund (CPER) and compare them to S&P 500 Index.


CPERBenchmarkDifference
Sharpe ratioReturn per unit of total volatility

-1.15

Sortino ratioReturn per unit of downside risk

-1.49

Omega ratioGain probability vs. loss probability

1.18

1.35

-0.16

Calmar ratioReturn relative to maximum drawdown

1.05

2.54

-1.49

Martin ratioReturn relative to average drawdown

2.17

11.58

-9.41

Dividends

Dividend History


United States Copper Index Fund doesn't pay dividends

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.


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Worst Drawdowns

The table below displays the maximum drawdowns of the United States Copper Index Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the United States Copper Index Fund was 54.04%, occurring on Jan 15, 2016. Recovery took 1335 trading sessions.

The current United States Copper Index Fund drawdown is 4.93%.


Related event

Drawdown

Fall

Recovery

Underwater

2016 bear market2016
-54.04%Jan 2016
3y 11mo5y 3mo
9y 2moFeb 2012 - May 2021
Bear market2022
-34.75%Jul 2022
4mo 9d1y 10mo
2y 2moMar 2022 - May 2024
2025 bear market2025
-24.77%Aug 2025
11d5mo 3d
5mo 14dJul 2025 - Jan 2026
2025 selloff2025
-21.47%Apr 2025
12d3mo 1d
3mo 13dMar 2025 - Jul 2025
2024 bear market2024
-21.26%Aug 2024
2mo 17d7mo 14d
10mo 1dMay 2024 - Mar 2025

Drawdown Indicators


CPERBenchmarkDifference

Max Drawdown

Largest peak-to-trough decline

-54.04%

-56.78%

+2.74%

Max Drawdown (1Y)

Largest decline over 1 year

-24.77%

-9.10%

-15.67%

Max Drawdown (3Y)

Largest decline over 3 years

-24.77%

-18.90%

-5.87%

Max Drawdown (5Y)

Largest decline over 5 years

-34.75%

-25.43%

-9.32%

Max Drawdown (10Y)

Largest decline over 10 years

-38.42%

-33.92%

-4.50%

Current Drawdown

Current decline from peak

-4.93%

-2.93%

-2.00%

Average Drawdown

Average peak-to-trough decline

-25.38%

-10.72%

-14.66%

Ulcer Index

Depth and duration of drawdowns from previous peaks

11.94%

1.99%

+9.95%

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.


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Portfolio Analyzer

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