^SPNY vs. CPER
^SPNY (S&P 500 Energy Index) is an index, while CPER (United States Copper Index Fund) is Copper fund tracking the SummerHaven Copper Index Total Return. Over the past 10 years, ^SPNY returned 6.08%/yr vs 10.21%/yr for CPER. At a 0.30 correlation, their price movements are largely independent.
Performance
^SPNY vs. CPER - Performance Comparison
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Returns By Period
In the year-to-date period, ^SPNY achieves a 29.71% return, which is significantly higher than CPER's 5.78% return. Over the past 10 years, ^SPNY has underperformed CPER with an annualized return of 6.08%, while CPER has yielded a comparatively higher 10.21% annualized return.
^SPNY
- 1D
- 1.38%
- 1M
- -1.38%
- YTD
- 29.71%
- 6M
- 30.87%
- 1Y
- 37.29%
- 3Y*
- 13.46%
- 5Y*
- 16.48%
- 10Y*
- 6.08%
CPER
- 1D
- 1.85%
- 1M
- -5.25%
- YTD
- 5.78%
- 6M
- 8.13%
- 1Y
- 19.83%
- 3Y*
- 16.51%
- 5Y*
- 6.99%
- 10Y*
- 10.21%
^SPNY vs. CPER - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
^SPNY S&P 500 Energy Index | 29.71% | 4.96% | 2.31% | -4.80% | 59.04% | 47.74% | -37.31% | 7.64% | -20.50% | -3.80% |
CPER United States Copper Index Fund | 5.78% | 38.95% | 4.23% | 4.55% | -15.14% | 25.21% | 23.90% | 6.66% | -21.91% | 28.80% |
Correlation
The correlation between ^SPNY and CPER is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.28 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.30 |
Correlation (All Time) Calculated using the full available price history since Nov 15, 2011 | 0.30 |
The correlation between ^SPNY and CPER shifts across timeframes, from 0.12 (1 year) to 0.30 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
^SPNY vs. CPER — Risk / Return Rank
^SPNY
CPER
^SPNY vs. CPER - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for S&P 500 Energy Index (^SPNY) and United States Copper Index Fund (CPER). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| ^SPNY | CPER | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.41 | ||
| Sortino ratioReturn per unit of downside risk | +1.68 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 1.15 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 3.30 | 0.80 | +2.50 |
| Martin ratioReturn relative to average drawdown | 9.31 | 1.66 | +7.65 |
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Drawdowns
^SPNY vs. CPER - Drawdown Comparison
The maximum ^SPNY drawdown since its inception was -75.59%, which is greater than CPER's maximum drawdown of -54.04%. Use the drawdown chart below to compare losses from any high point for ^SPNY and CPER.
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Drawdown Indicators
| ^SPNY | CPER | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.59% | -54.04% | -21.55% |
Max Drawdown (1Y)Largest decline over 1 year | -12.40% | -24.77% | +12.37% |
Max Drawdown (3Y)Largest decline over 3 years | -21.58% | -24.77% | +3.19% |
Max Drawdown (5Y)Largest decline over 5 years | -26.33% | -34.75% | +8.42% |
Max Drawdown (10Y)Largest decline over 10 years | -68.94% | -38.42% | -30.52% |
Current DrawdownCurrent decline from peak | -7.35% | -8.92% | +1.57% |
Average DrawdownAverage peak-to-trough decline | -16.77% | -25.32% | +8.55% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.39% | 12.00% | -7.61% |
Volatility
^SPNY vs. CPER - Volatility Comparison
The current volatility for S&P 500 Energy Index (^SPNY) is 8.20%, while United States Copper Index Fund (CPER) has a volatility of 9.84%. This indicates that ^SPNY experiences smaller price fluctuations and is considered to be less risky than CPER based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| ^SPNY | CPER | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.20% | 9.84% | -1.64% |
Volatility (6M)Calculated over the trailing 6-month period | 16.79% | 23.83% | -7.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.70% | 35.21% | -14.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.02% | 27.10% | -1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 29.57% | 24.12% | +5.45% |
Frequently Asked Questions
^SPNY and CPER have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CPER has higher volatility (9.84%) compared to ^SPNY (8.20%). In terms of maximum drawdown, ^SPNY dropped -75.59% vs CPER's -54.04%.
^SPNY currently has the higher Sharpe Ratio (1.98 vs 0.57), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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