COPX vs. CPXR

Last updated Jun 23, 2026

COPX (Global X Copper Miners ETF) and CPXR (USCF Daily Target 2X Copper Index ETF) are both Copper funds - COPX tracks the Solactive Global Copper Miners Total Return Index while CPXR tracks the SummerHaven Copper Index. Both are passively managed. Over the past year, COPX returned 108.10% vs 33.95% for CPXR. A 0.76 correlation means they provide meaningful diversification when combined. COPX charges 0.65%/yr vs 1.20%/yr for CPXR.

Performance

COPX vs. CPXR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Global X Copper Miners ETF (COPX) and USCF Daily Target 2X Copper Index ETF (CPXR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, COPX achieves a 18.25% return, which is significantly higher than CPXR's 16.38% return.

COPX

• 1D: -0.69%
• 1M: 1.85%
• YTD: 18.25%
• 6M: 19.75%
• 1Y: 108.10%
• 3Y*: 34.51%
• 5Y*: 20.78%
• 10Y*: 21.61%

CPXR

• 1D: -0.73%
• 1M: -1.52%
• YTD: 16.38%
• 6M: 23.89%
• 1Y: 33.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

COPX vs. CPXR - Yearly Performance Comparison

	2026 (YTD)	2025
COPX Global X Copper Miners ETF	18.25%	83.14%
CPXR USCF Daily Target 2X Copper Index ETF	16.38%	35.65%

Correlation

The correlation between COPX and CPXR is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jan 22, 2025	0.76

The correlation between COPX and CPXR has been stable across timeframes, ranging from 0.76 to 0.78 - a consistent structural relationship.

Return for Risk

COPX vs. CPXR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

COPX

COPX Risk / Return Rank: 70
COPX Sharpe Ratio Rank: 81
COPX Sortino Ratio Rank: 61
COPX Omega Ratio Rank: 63
COPX Calmar Ratio Rank: 78
COPX Martin Ratio Rank: 67

CPXR

CPXR Risk / Return Rank: 19
CPXR Sharpe Ratio Rank: 16
CPXR Sortino Ratio Rank: 19
CPXR Omega Ratio Rank: 26
CPXR Calmar Ratio Rank: 17
CPXR Martin Ratio Rank: 15

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.

COPX vs. CPXR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Global X Copper Miners ETF (COPX) and USCF Daily Target 2X Copper Index ETF (CPXR). 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.

	COPX	CPXR	Difference
Sharpe ratio: Return per unit of total volatility	2.48	0.49	+1.98
Sortino ratio: Return per unit of downside risk	2.77	1.05	+1.72
Omega ratio: Gain probability vs. loss probability	1.37	1.17	+0.19
Calmar ratio: Return relative to maximum drawdown	3.91	0.71	+3.20
Martin ratio: Return relative to average drawdown	11.97	1.31	+10.67

COPX vs. CPXR - Sharpe Ratio Comparison

The current COPX Sharpe Ratio is 2.48, which is higher than the CPXR Sharpe Ratio of 0.49. The chart below compares the historical Sharpe Ratios of COPX and CPXR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

COPX vs. CPXR - Drawdown Comparison

The maximum COPX drawdown since its inception was -83.16%, which is greater than CPXR's maximum drawdown of -47.87%. Use the drawdown chart below to compare losses from any high point for COPX and CPXR.

Drawdown Indicators

	COPX	CPXR	Difference
Max Drawdown Largest peak-to-trough decline	-83.16%	-47.87%	-35.29%
Max Drawdown (1Y) Largest decline over 1 year	-27.82%	-47.87%	+20.05%
Max Drawdown (3Y) Largest decline over 3 years	-39.72%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-42.12%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-65.41%	—	—
Current Drawdown Current decline from peak	-11.30%	-9.18%	-2.12%
Average Drawdown Average peak-to-trough decline	-39.24%	-19.43%	-19.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.06%	26.00%	-16.94%

Volatility

COPX vs. CPXR - Volatility Comparison

Global X Copper Miners ETF (COPX) has a higher volatility of 17.85% compared to USCF Daily Target 2X Copper Index ETF (CPXR) at 16.01%. This indicates that COPX's price experiences larger fluctuations and is considered to be riskier than CPXR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	COPX	CPXR	Difference
Volatility (1M) Calculated over the trailing 1-month period	17.85%	16.01%	+1.84%
Volatility (6M) Calculated over the trailing 6-month period	38.53%	45.81%	-7.28%
Volatility (1Y) Calculated over the trailing 1-year period	44.00%	69.49%	-25.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.93%	68.18%	-31.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.76%	68.18%	-32.42%

COPX vs. CPXR - Expense Ratio Comparison

COPX has a 0.65% expense ratio, which is lower than CPXR's 1.20% expense ratio.

Dividends

COPX vs. CPXR - Dividend Comparison

COPX's dividend yield for the trailing twelve months is around 2.26%, more than CPXR's 0.60% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COPX Global X Copper Miners ETF	2.26%	2.68%	1.80%	2.39%	3.14%	1.48%	1.30%	1.37%	2.59%	1.57%	0.60%	1.20%
CPXR USCF Daily Target 2X Copper Index ETF	0.60%	0.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both COPX and CPXR in my portfolio?

COPX and CPXR have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, COPX or CPXR?

COPX has higher volatility (17.85%) compared to CPXR (16.01%). In terms of maximum drawdown, COPX dropped -83.16% vs CPXR's -47.87%.

Which ETF is better, COPX or CPXR?

On 1-year performance, COPX leads with 108.10% vs 33.95% for CPXR. On fees, COPX is cheaper at 0.65% per year. On volatility, CPXR has been the lower-risk option at 16.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, COPX or CPXR?

Over the 1-year period, COPX has performed better with a 108.10% return vs 33.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, COPX or CPXR?

COPX is cheaper with a 0.65% expense ratio, compared with 1.20% for CPXR.

Which ETF pays a higher dividend yield, COPX or CPXR?

COPX has the higher dividend yield at 2.26%, compared with 0.60% for CPXR.

What is the main difference between COPX and CPXR?

COPX tracks Solactive Global Copper Miners Total Return Index, while CPXR tracks SummerHaven Copper Index. They also come from different issuers: Global X and USCF. Their fees differ too: 0.65% for COPX and 1.20% for CPXR.

Which has better risk-adjusted returns?

COPX currently has the higher Sharpe Ratio (2.48 vs 0.49), 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.