CPER vs. HG=F

Last updated Apr 2, 2026

Compare and contrast key facts about United States Copper Index Fund (CPER) and Copper (HG=F).

CPER is a passively managed fund by Concierge Technologies that tracks the performance of the SummerHaven Copper Index Total Return. It was launched on Nov 15, 2011.

Performance

CPER vs. HG=F - Performance Comparison

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

CPER vs. HG=F - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CPER United States Copper Index Fund	-1.77%	38.95%	4.23%	4.55%	-15.14%	25.21%	23.90%	6.66%	-21.91%	28.80%
HG=F Copper	-0.22%	39.82%	3.50%	2.10%	-14.63%	26.84%	25.81%	6.31%	-20.28%	31.73%

Returns By Period

In the year-to-date period, CPER achieves a -1.77% return, which is significantly lower than HG=F's -0.22% return. Over the past 10 years, CPER has underperformed HG=F with an annualized return of 9.08%, while HG=F has yielded a comparatively higher 9.99% annualized return.

CPER

• 1D: -0.26%
• 1M: -5.63%
• YTD: -1.77%
• 6M: 13.90%
• 1Y: 8.95%
• 3Y*: 11.25%
• 5Y*: 6.76%
• 10Y*: 9.08%

HG=F

• 1D: 0.54%
• 1M: -4.70%
• YTD: -0.22%
• 6M: 16.29%
• 1Y: 11.57%
• 3Y*: 11.08%
• 5Y*: 7.06%
• 10Y*: 9.99%

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

Return for Risk

CPER vs. HG=F — Risk / Return Rank

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

CPER

CPER Risk / Return Rank: 19
CPER Sharpe Ratio Rank: 18
CPER Sortino Ratio Rank: 19
CPER Omega Ratio Rank: 22
CPER Calmar Ratio Rank: 19
CPER Martin Ratio Rank: 17

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. HG=F - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for United States Copper Index Fund (CPER) and Copper (HG=F). 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	HG=F	Difference
Sharpe ratio Return per unit of total volatility	0.24	0.27	-0.03
Sortino ratio Return per unit of downside risk	0.54	0.58	-0.04
Omega ratio Gain probability vs. loss probability	1.09	1.10	-0.01
Calmar ratio Return relative to maximum drawdown	0.35	0.89	-0.54
Martin ratio Return relative to average drawdown	0.71	1.85	-1.14
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. HG=F - Sharpe Ratio Comparison

The current CPER Sharpe Ratio is 0.24, which is comparable to the HG=F Sharpe Ratio of 0.27. The chart below compares the historical Sharpe Ratios of CPER and HG=F, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CPER	HG=F	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.24	0.27	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	0.25	+0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.38	0.41	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.09	0.00	+0.09

Correlation

The correlation between CPER and HG=F is 0.85, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

CPER vs. HG=F - Drawdown Comparison

The maximum CPER drawdown since its inception was -54.04%, smaller than the maximum HG=F drawdown of -99.27%. Use the drawdown chart below to compare losses from any high point for CPER and HG=F.

Drawdown Indicators

	CPER	HG=F	Difference
Max Drawdown Largest peak-to-trough decline	-54.04%	-99.27%	+45.23%
Max Drawdown (1Y) Largest decline over 1 year	-24.77%	-25.17%	+0.40%
Max Drawdown (5Y) Largest decline over 5 years	-34.75%	-34.96%	+0.21%
Max Drawdown (10Y) Largest decline over 10 years	-38.42%	-36.54%	-1.88%
Current Drawdown Current decline from peak	-11.29%	-9.04%	-2.25%
Average Drawdown Average peak-to-trough decline	-25.65%	-29.73%	+4.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.19%	12.05%	+0.14%

Volatility

CPER vs. HG=F - Volatility Comparison

United States Copper Index Fund (CPER) has a higher volatility of 9.07% compared to Copper (HG=F) at 7.03%. This indicates that CPER's price experiences larger fluctuations and is considered to be riskier than HG=F based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPER	HG=F	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.07%	7.03%	+2.04%
Volatility (6M) Calculated over the trailing 6-month period	21.93%	20.76%	+1.17%
Volatility (1Y) Calculated over the trailing 1-year period	36.82%	36.91%	-0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.85%	26.75%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.86%	23.53%	+0.33%