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CPER vs. MELI
Performance
Return for Risk
Drawdowns
Volatility
Dividends

CPER vs. MELI

Last updated Jul 21, 2026
Documentation

CPER (United States Copper Index Fund) is Copper fund tracking the SummerHaven Copper Index Total Return, while MELI (MercadoLibre, Inc.) is a stock. Over the past 10 years, CPER returned 10.14%/yr vs 28.13%/yr for MELI. At a 0.21 correlation, their price movements are largely independent.

Performance

CPER vs. MELI - Performance Comparison

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

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Returns By Period

In the year-to-date period, CPER achieves a 9.90% return, which is significantly higher than MELI's -9.03% return. Over the past 10 years, CPER has underperformed MELI with an annualized return of 10.14%, while MELI has yielded a comparatively higher 28.13% annualized return.

CPER

1D
1.32%
1M
-1.13%
6M
6.90%
YTD
9.90%
1Y
10.85%
3Y*
17.70%
5Y*
7.97%
10Y*
10.14%
ALL TIME*
2.94%

MELI

1D
1.02%
1M
12.06%
6M
-11.69%
YTD
-9.03%
1Y
-24.08%
3Y*
14.49%
5Y*
3.40%
10Y*
28.13%
ALL TIME*
26.51%
*Multi-year figures are annualized to reflect compound growth (CAGR)

CPER vs. MELI - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
CPER
United States Copper Index Fund		9.90%38.95%4.23%4.55%-15.14%25.21%23.90%6.66%-21.91%28.80%
MELI
MercadoLibre, Inc.		-9.03%18.46%8.20%85.71%-37.24%-19.51%192.90%95.30%-6.93%101.99%

Correlation

The correlation between CPER and MELI is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.24

Correlation (3Y)
Calculated over the trailing 3-year period

0.19

Correlation (5Y)
Calculated over the trailing 5-year period

0.22

Correlation (10Y)
Calculated over the trailing 10-year period

0.22

Correlation (All Time)
Calculated using the full available price history since Nov 15, 2011

0.21

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

United States Copper Index Fund

MercadoLibre, Inc.

Often compared with CPER:
CPER vs. COPXCPER vs. COPPCPER vs. ICOPCPER vs. GLDCPER vs. COPA.LCPER vs. COPJCPER vs. SPY
Often compared with MELI:
MELI vs. AMZNMELI vs. CPNGMELI vs. VOOMELI vs. DISMELI vs. QQQMELI vs. PDDMELI vs. LLY

Return for Risk

CPER vs. MELI — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
CPER
CPER Risk / Return Rank: 1717
Overall Rank
CPER Sharpe Ratio Rank: 1616
Sharpe Ratio Rank
CPER Sortino Ratio Rank: 1616
Sortino Ratio Rank
CPER Omega Ratio Rank: 1919
Omega Ratio Rank
CPER Calmar Ratio Rank: 1616
Calmar Ratio Rank
CPER Martin Ratio Rank: 1616
Martin Ratio Rank
MELI
MELI Risk / Return Rank: 2020
Overall Rank
MELI Sharpe Ratio Rank: 1717
Sharpe Ratio Rank
MELI Sortino Ratio Rank: 2020
Sortino Ratio Rank
MELI Omega Ratio Rank: 1919
Omega Ratio Rank
MELI Calmar Ratio Rank: 2121
Calmar Ratio Rank
MELI Martin Ratio Rank: 2222
Martin Ratio Rank
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. MELI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for United States Copper Index Fund (CPER) and MercadoLibre, Inc. (MELI). 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.

CPERMELIDifference
Sharpe ratioReturn per unit of total volatility
0.32
-0.61

+0.93

Sortino ratioReturn per unit of downside risk
0.60
-0.64

+1.24

Omega ratioGain probability vs. loss probability

1.10

0.92

+0.18

Calmar ratioReturn relative to maximum drawdown

0.44

-0.63

+1.07

Martin ratioReturn relative to average drawdown

0.90

-1.06

+1.96

CPER vs. MELI - Sharpe Ratio Comparison

The current CPER Sharpe Ratio is 0.32, which is higher than the MELI Sharpe Ratio of -0.61. The chart below compares the historical Sharpe Ratios of CPER and MELI, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

CPER vs. MELI - Drawdown Comparison

The maximum CPER drawdown since its inception was -54.04%, smaller than the maximum MELI drawdown of -89.49%. Use the drawdown chart below to compare losses from any high point for CPER and MELI.

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Drawdown Indicators

CPERMELIDifference

Max Drawdown

Largest peak-to-trough decline

-54.04%

-89.49%

+35.45%

Max Drawdown (1Y)

Largest decline over 1 year

-24.77%

-38.40%

+13.63%

Max Drawdown (3Y)

Largest decline over 3 years

-24.77%

-40.82%

+16.05%

Max Drawdown (5Y)

Largest decline over 5 years

-34.75%

-68.64%

+33.89%

Max Drawdown (10Y)

Largest decline over 10 years

-38.42%

-69.12%

+30.70%

Current Drawdown

Current decline from peak

-5.37%

-29.89%

+24.52%

Average Drawdown

Average peak-to-trough decline

-25.24%

-23.63%

-1.61%

Ulcer Index

Depth and duration of drawdowns from previous peaks

12.13%

22.69%

-10.56%

Volatility

CPER vs. MELI - Volatility Comparison

The current volatility for United States Copper Index Fund (CPER) is 6.94%, while MercadoLibre, Inc. (MELI) has a volatility of 8.75%. This indicates that CPER experiences smaller price fluctuations and is considered to be less risky than MELI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

CPERMELIDifference

Volatility (1M)

Calculated over the trailing 1-month period

6.94%

8.75%

-1.81%

Volatility (6M)

Calculated over the trailing 6-month period

21.89%

29.45%

-7.56%

Volatility (1Y)

Calculated over the trailing 1-year period

34.16%

39.82%

-5.66%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

27.10%

49.77%

-22.67%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

24.08%

48.89%

-24.81%

Dividends

CPER vs. MELI - Dividend Comparison

Neither CPER nor MELI has paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
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%
MELI
MercadoLibre, Inc.		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.19%0.38%0.36%

Frequently Asked Questions

CPER and MELI have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MELI has higher volatility (8.75%) compared to CPER (6.94%). In terms of maximum drawdown, CPER dropped -54.04% vs MELI's -89.49%.

CPER currently has the higher Sharpe Ratio (0.32 vs -0.61), 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.

Portfolio Optimizer

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