CPER vs. UMI
CPER (United States Copper Index Fund) and UMI (USCF Midstream Energy Income Fund ETF) are both exchange-traded funds - CPER is a Copper fund tracking the SummerHaven Copper Index Total Return, while UMI is a Energy Equities fund actively managed by USCF. CPER is passively managed, while UMI is actively managed. Over the past 5 years, CPER returned 7.64%/yr vs 22.50%/yr for UMI. Their 0.28 correlation means their historical movements had little consistent relationship. CPER charges 1.06%/yr vs 0.85%/yr for UMI.
Performance
CPER vs. UMI - Performance Comparison
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Returns By Period
In the year-to-date period, CPER achieves a 13.16% return, which is significantly lower than UMI's 26.70% return.
CPER
- 1D
- 0.56%
- 1M
- 6.09%
- 6M
- 8.59%
- YTD
- 13.16%
- 1Y
- 43.49%
- 3Y*
- 17.80%
- 5Y*
- 7.64%
- 10Y*
- 10.57%
- ALL TIME*
- 3.14%
UMI
- 1D
- 0.50%
- 1M
- 3.72%
- 6M
- 18.07%
- YTD
- 26.70%
- 1Y
- 28.25%
- 3Y*
- 26.23%
- 5Y*
- 22.50%
- 10Y*
- —
- ALL TIME*
- 14.58%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $16.98M | $14.74M | $24.58M | |
| $1.28M | $1.03M | $1.15M |
CPER vs. UMI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CPER United States Copper Index Fund | 13.16% | 38.95% | 4.23% | 4.55% | -15.14% | 25.21% | 23.90% | 6.66% | -21.91% | 7.39% |
UMI USCF Midstream Energy Income Fund ETF | 26.70% | 5.11% | 42.97% | 14.60% | 20.78% | 20.97% | -8.25% | 21.06% | -10.64% | 2.76% |
Correlation
The correlation between CPER and UMI is 0.04, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.04 |
Correlation (3Y) Balances recent behavior with more history. | 0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.30 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2017 | 0.28 |
Over the past year, the correlation between CPER and UMI has dropped to 0.04 - well below their long-term average of 0.28, suggesting their price drivers have been diverging.
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Return for Risk
CPER vs. UMI — Risk / Return Rank
CPER
UMI
CPER vs. UMI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Copper Index Fund (CPER) and USCF Midstream Energy Income Fund ETF (UMI). 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.
| CPER | UMI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.37 | ||
| Sortino ratioReturn per unit of downside risk | -0.55 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.34 | -0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.70 | 3.79 | -1.09 |
| Martin ratioReturn relative to average drawdown | 8.40 | 9.51 | -1.10 |
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Drawdowns
CPER vs. UMI - Drawdown Comparison
The maximum CPER drawdown since its inception was -54.04%, which is greater than UMI's maximum drawdown of -48.08%. Use the drawdown chart below to compare losses from any high point for CPER and UMI.
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Drawdown Indicators
| CPER | UMI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.04% | -48.08% | -5.96% |
Max Drawdown (1Y)Largest decline over 1 year | -16.43% | -7.50% | -8.93% |
Max Drawdown (3Y)Largest decline over 3 years | -24.77% | -17.08% | -7.69% |
Max Drawdown (5Y)Largest decline over 5 years | -34.75% | -20.05% | -14.70% |
Max Drawdown (10Y)Largest decline over 10 years | -38.42% | — | — |
Current DrawdownCurrent decline from peak | -2.56% | -2.00% | -0.56% |
Average DrawdownAverage peak-to-trough decline | -25.19% | -6.53% | -18.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.26% | 2.98% | +2.28% |
Volatility
CPER vs. UMI - Volatility Comparison
United States Copper Index Fund (CPER) has a higher volatility of 6.29% compared to USCF Midstream Energy Income Fund ETF (UMI) at 5.19%. This indicates that CPER's price experiences larger fluctuations and is considered to be riskier than UMI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CPER | UMI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.29% | 5.19% | +1.10% |
Volatility (6M)Calculated over the trailing 6-month period | 21.59% | 11.67% | +9.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.15% | 14.59% | +13.56% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.08% | 19.35% | +7.73% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.11% | 23.10% | +1.01% |
CPER vs. UMI - Expense Ratio Comparison
CPER has a 1.06% expense ratio, which is higher than UMI's 0.85% expense ratio.
Dividends
CPER vs. UMI - Dividend Comparison
CPER has not paid dividends to shareholders, while UMI's dividend yield for the trailing twelve months is around 5.80%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
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% |
UMI USCF Midstream Energy Income Fund ETF | 5.80% | 6.23% | 4.39% | 4.67% | 4.36% | 3.00% | 2.18% | 2.47% | 2.48% | 0.15% |
Frequently Asked Questions
CPER and UMI have a correlation of 0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CPER has higher volatility (6.29%) compared to UMI (5.19%). In terms of maximum drawdown, CPER dropped -54.04% vs UMI's -48.08%.
On 5-year performance, UMI leads with 22.50% vs 7.64% for CPER. On fees, UMI is cheaper at 0.85% per year. On volatility, UMI has been the lower-risk option at 5.19%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, UMI has performed better with a 22.50% return vs 7.64%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
UMI is cheaper with a 0.85% expense ratio, compared with 1.06% for CPER.
UMI has the higher dividend yield at 5.80%, compared with 0.00% for CPER.
CPER is categorized as Copper, while UMI is Energy Equities. Their fees differ too: 1.06% for CPER and 0.85% for UMI.
UMI currently has the higher Sharpe Ratio (1.95 vs 1.58), 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.
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