CPER vs. DODIX

Last updated Jun 4, 2026

CPER (United States Copper Index Fund) and DODIX (Dodge & Cox Income Fund) are both funds - CPER is a Metals fund tracking the SummerHaven Copper Index Total Return, while DODIX is a Total Bond Market fund managed by Dodge & Cox. Over the past 10 years, CPER returned 10.91%/yr vs 2.93%/yr for DODIX. At a 0.02 correlation, their price movements are largely independent. CPER charges 1.06%/yr vs 0.41%/yr for DODIX.

Performance

CPER vs. DODIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in United States Copper Index Fund (CPER) and Dodge & Cox Income Fund (DODIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPER achieves a 12.76% return, which is significantly higher than DODIX's 0.51% return. Over the past 10 years, CPER has outperformed DODIX with an annualized return of 10.91%, while DODIX has yielded a comparatively lower 2.93% annualized return.

CPER

• 1D: -2.91%
• 1M: 10.79%
• YTD: 12.76%
• 6M: 19.35%
• 1Y: 29.71%
• 3Y*: 19.71%
• 5Y*: 7.21%
• 10Y*: 10.91%

DODIX

• 1D: 0.08%
• 1M: 0.55%
• YTD: 0.51%
• 6M: 0.47%
• 1Y: 6.43%
• 3Y*: 5.26%
• 5Y*: 1.31%
• 10Y*: 2.93%

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

CPER vs. DODIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CPER United States Copper Index Fund	12.76%	38.95%	4.23%	4.55%	-15.14%	25.21%	23.90%	6.66%	-21.91%	28.80%
DODIX Dodge & Cox Income Fund	0.51%	8.32%	2.25%	7.69%	-11.42%	-0.92%	9.46%	9.73%	-0.31%	4.36%

Correlation

The correlation between CPER and DODIX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.12
Correlation (10Y) Calculated over the trailing 10-year period	0.06
Correlation (All Time) Calculated using the full available price history since Nov 16, 2011	0.02

Over the past year, CPER and DODIX have become more correlated (0.23) than their long-term average of 0.02, meaning their price movements have been converging.

Return for Risk

CPER vs. DODIX — Risk / Return Rank

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

CPER

CPER Risk / Return Rank: 24
CPER Sharpe Ratio Rank: 24
CPER Sortino Ratio Rank: 22
CPER Omega Ratio Rank: 30
CPER Calmar Ratio Rank: 25
CPER Martin Ratio Rank: 21

DODIX

DODIX Risk / Return Rank: 29
DODIX Sharpe Ratio Rank: 30
DODIX Sortino Ratio Rank: 32
DODIX Omega Ratio Rank: 30
DODIX Calmar Ratio Rank: 30
DODIX Martin Ratio Rank: 25

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.

CPER vs. DODIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for United States Copper Index Fund (CPER) and Dodge & Cox Income Fund (DODIX). 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.

	CPER	DODIX	Difference
Sharpe ratio: Return per unit of total volatility	0.87	1.57	-0.71
Sortino ratio: Return per unit of downside risk	1.22	2.33	-1.12
Omega ratio: Gain probability vs. loss probability	1.20	1.29	-0.08
Calmar ratio: Return relative to maximum drawdown	1.20	2.04	-0.83
Martin ratio: Return relative to average drawdown	2.50	6.23	-3.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CPER vs. DODIX - Sharpe Ratio Comparison

The current CPER Sharpe Ratio is 0.87, which is lower than the DODIX Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of CPER and DODIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CPER	DODIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.87	1.57	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.24	+0.03
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.66	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	1.47	-1.34

Drawdowns

CPER vs. DODIX - Drawdown Comparison

The maximum CPER drawdown since its inception was -54.04%, which is greater than DODIX's maximum drawdown of -16.89%. Use the drawdown chart below to compare losses from any high point for CPER and DODIX.

Drawdown Indicators

	CPER	DODIX	Difference
Max Drawdown Largest peak-to-trough decline	-54.04%	-16.89%	-37.15%
Max Drawdown (1Y) Largest decline over 1 year	-24.77%	-3.17%	-21.60%
Max Drawdown (3Y) Largest decline over 3 years	-24.77%	-5.68%	-19.09%
Max Drawdown (5Y) Largest decline over 5 years	-34.75%	-16.89%	-17.86%
Max Drawdown (10Y) Largest decline over 10 years	-38.42%	-16.89%	-21.53%
Current Drawdown Current decline from peak	-2.91%	-1.63%	-1.28%
Average Drawdown Average peak-to-trough decline	-25.41%	-1.50%	-23.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.93%	1.04%	+10.89%

Volatility

CPER vs. DODIX - Volatility Comparison

United States Copper Index Fund (CPER) has a higher volatility of 9.73% compared to Dodge & Cox Income Fund (DODIX) at 1.43%. This indicates that CPER's price experiences larger fluctuations and is considered to be riskier than DODIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPER	DODIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.73%	1.43%	+8.30%
Volatility (6M) Calculated over the trailing 6-month period	22.85%	3.00%	+19.85%
Volatility (1Y) Calculated over the trailing 1-year period	34.48%	4.11%	+30.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.97%	5.56%	+21.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.04%	4.45%	+19.59%

CPER vs. DODIX - Expense Ratio Comparison

CPER has a 1.06% expense ratio, which is higher than DODIX's 0.41% expense ratio.

Dividends

CPER vs. DODIX - Dividend Comparison

CPER has not paid dividends to shareholders, while DODIX's dividend yield for the trailing twelve months is around 4.26%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPER United States Copper Index Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DODIX Dodge & Cox Income Fund	4.26%	4.23%	4.24%	3.86%	2.19%	3.23%	4.66%	3.63%	3.43%	3.03%	3.25%	3.09%

Frequently Asked Questions

Can I hold both CPER and DODIX in my portfolio?

CPER and DODIX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPER or DODIX?

CPER has higher volatility (9.73%) compared to DODIX (1.43%). In terms of maximum drawdown, CPER dropped -54.04% vs DODIX's -16.89%.

Which has better risk-adjusted returns?

DODIX currently has the higher Sharpe Ratio (1.57 vs 0.87), 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.