BNQP.DE vs. CPER
BNQP.DE (BNPP RICI Kupfer (TR) Enhanced ETC) and CPER (United States Copper Index Fund) are both exchange-traded funds - BNQP.DE is a Metals fund tracking the RICI Enhanced Copper, while CPER is a Copper fund tracking the SummerHaven Copper Index Total Return. Both are passively managed. Over the past 5 years, BNQP.DE returned 10.35%/yr vs 8.61%/yr for CPER. A 0.60 correlation means they provide meaningful diversification when combined. BNQP.DE charges 1.00%/yr vs 1.06%/yr for CPER.
Performance
BNQP.DE vs. CPER - Performance Comparison
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Different Trading Currencies
BNQP.DE is traded in EUR, while CPER is traded in USD. To make them comparable, the CPER values have been converted to EUR using the latest available exchange rates.
Returns By Period
As of year-to-date, both investments have demonstrated similar returns, with BNQP.DE at 11.95% and CPER at 11.95%.
BNQP.DE
- 1D
- 0.00%
- 1M
- 0.30%
- 6M
- 5.14%
- YTD
- 11.95%
- 1Y
- 42.15%
- 3Y*
- 17.35%
- 5Y*
- 10.35%
- 10Y*
- —
CPER
- 1D
- 0.13%
- 1M
- -2.54%
- 6M
- 5.40%
- YTD
- 11.95%
- 1Y
- 12.84%
- 3Y*
- 15.62%
- 5Y*
- 8.61%
- 10Y*
- 9.36%
BNQP.DE vs. CPER - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
BNQP.DE BNPP RICI Kupfer (TR) Enhanced ETC | 11.95% | 20.92% | 16.44% | 2.18% | -3.18% | 31.64% | 12.40% | 5.30% | -10.42% | 15.04% |
CPER United States Copper Index Fund | 11.95% | 22.46% | 11.11% | 1.41% | -9.88% | 34.57% | 13.69% | 9.07% | -18.25% | 12.97% |
Correlation
The correlation between BNQP.DE and CPER is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.76 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Oct 17, 2016 | 0.61 |
Over the past year, BNQP.DE and CPER have become more correlated (0.81) than their long-term average of 0.60, meaning their price movements have been converging.
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Return for Risk
BNQP.DE vs. CPER — Risk / Return Rank
BNQP.DE
CPER
BNQP.DE vs. CPER - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BNPP RICI Kupfer (TR) Enhanced ETC (BNQP.DE) 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.
| BNQP.DE | CPER | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.78 | ||
| Sortino ratioReturn per unit of downside risk | +2.34 | ||
| Omega ratioGain probability vs. loss probability | 1.39 | 1.11 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 4.86 | 0.55 | +4.32 |
| Martin ratioReturn relative to average drawdown | 16.38 | 1.14 | +15.24 |
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Drawdowns
BNQP.DE vs. CPER - Drawdown Comparison
The maximum BNQP.DE drawdown since its inception was -25.14%, smaller than the maximum CPER drawdown of -44.89%. Use the drawdown chart below to compare losses from any high point for BNQP.DE and CPER.
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Drawdown Indicators
| BNQP.DE | CPER | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.14% | -44.89% | +19.75% |
Max Drawdown (1Y)Largest decline over 1 year | -8.63% | -23.65% | +15.02% |
Max Drawdown (3Y)Largest decline over 3 years | -17.93% | -23.65% | +5.72% |
Max Drawdown (5Y)Largest decline over 5 years | -25.14% | -29.24% | +4.10% |
Max Drawdown (10Y)Largest decline over 10 years | — | -31.67% | — |
Current DrawdownCurrent decline from peak | -2.02% | -4.55% | +2.53% |
Average DrawdownAverage peak-to-trough decline | -8.19% | -20.11% | +11.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.57% | 11.30% | -8.73% |
Volatility
BNQP.DE vs. CPER - Volatility Comparison
The current volatility for BNPP RICI Kupfer (TR) Enhanced ETC (BNQP.DE) is 4.21%, while United States Copper Index Fund (CPER) has a volatility of 6.99%. This indicates that BNQP.DE 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
| BNQP.DE | CPER | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.21% | 6.99% | -2.78% |
Volatility (6M)Calculated over the trailing 6-month period | 13.78% | 20.27% | -6.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.31% | 32.55% | -13.24% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.95% | 25.51% | -6.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.30% | 23.01% | -5.71% |
BNQP.DE vs. CPER - Expense Ratio Comparison
BNQP.DE has a 1.00% expense ratio, which is lower than CPER's 1.06% expense ratio.
Dividends
BNQP.DE vs. CPER - Dividend Comparison
Neither BNQP.DE nor CPER has paid dividends to shareholders.
Frequently Asked Questions
BNQP.DE and CPER have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, BNQP.DE is cheaper at 1.00% per year. The better choice depends on whether you care most about return, fees, risk, or income.
BNQP.DE is cheaper with a 1.00% expense ratio, compared with 1.06% for CPER.
BNQP.DE is categorized as Metals, while CPER is Copper. BNQP.DE tracks RICI Enhanced Copper, while CPER tracks SummerHaven Copper Index Total Return. They also come from different issuers: BNP Paribas and USCF. Their fees differ too: 1.00% for BNQP.DE and 1.06% for CPER.
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