CPER vs. VWO
CPER (United States Copper Index Fund) and VWO (Vanguard FTSE Emerging Markets ETF) are both exchange-traded funds - CPER is a Metals fund tracking the SummerHaven Copper Index Total Return, while VWO is a Emerging Markets Equities fund tracking the FTSE Emerging Index. Both are passively managed. Over the past 10 years, CPER returned 11.08%/yr vs 8.60%/yr for VWO. At a 0.41 correlation, their price movements are largely independent. CPER charges 1.06%/yr vs 0.08%/yr for VWO.
Performance
CPER vs. VWO - Performance Comparison
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Returns By Period
In the year-to-date period, CPER achieves a 10.27% return, which is significantly higher than VWO's 8.50% return. Over the past 10 years, CPER has outperformed VWO with an annualized return of 11.08%, while VWO has yielded a comparatively lower 8.60% annualized return.
CPER
- 1D
- 1.23%
- 1M
- 0.73%
- YTD
- 10.27%
- 6M
- 15.97%
- 1Y
- 27.52%
- 3Y*
- 18.31%
- 5Y*
- 6.72%
- 10Y*
- 11.08%
VWO
- 1D
- 0.52%
- 1M
- -3.65%
- YTD
- 8.50%
- 6M
- 9.73%
- 1Y
- 24.29%
- 3Y*
- 16.22%
- 5Y*
- 4.65%
- 10Y*
- 8.60%
CPER vs. VWO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CPER United States Copper Index Fund | 10.27% | 38.95% | 4.23% | 4.55% | -15.14% | 25.21% | 23.90% | 6.66% | -21.91% | 28.80% |
VWO Vanguard FTSE Emerging Markets ETF | 8.50% | 25.60% | 10.59% | 9.25% | -17.98% | 1.26% | 15.17% | 20.75% | -14.76% | 31.49% |
Correlation
The correlation between CPER and VWO is 0.57, 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 | 0.57 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.49 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Nov 16, 2011 | 0.41 |
The correlation between CPER and VWO shifts across timeframes, from 0.41 (all time) to 0.57 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CPER vs. VWO — Risk / Return Rank
CPER
VWO
CPER vs. VWO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for United States Copper Index Fund (CPER) and Vanguard FTSE Emerging Markets ETF (VWO). 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 | VWO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.70 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.28 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.12 | 2.18 | -1.07 |
| Martin ratioReturn relative to average drawdown | 2.31 | 7.79 | -5.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CPER | VWO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.80 | 1.49 | -0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.25 | 0.27 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | 0.45 | +0.01 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.13 | 0.26 | -0.14 |
Drawdowns
CPER vs. VWO - Drawdown Comparison
The maximum CPER drawdown since its inception was -54.04%, smaller than the maximum VWO drawdown of -67.68%. Use the drawdown chart below to compare losses from any high point for CPER and VWO.
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Drawdown Indicators
| CPER | VWO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -54.04% | -67.68% | +13.64% |
Max Drawdown (1Y)Largest decline over 1 year | -24.77% | -11.17% | -13.60% |
Max Drawdown (3Y)Largest decline over 3 years | -24.77% | -17.37% | -7.40% |
Max Drawdown (5Y)Largest decline over 5 years | -34.75% | -32.60% | -2.15% |
Max Drawdown (10Y)Largest decline over 10 years | -38.42% | -36.39% | -2.03% |
Current DrawdownCurrent decline from peak | -5.05% | -4.67% | -0.38% |
Average DrawdownAverage peak-to-trough decline | -25.39% | -15.81% | -9.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.94% | 3.12% | +8.82% |
Volatility
CPER vs. VWO - Volatility Comparison
United States Copper Index Fund (CPER) has a higher volatility of 10.22% compared to Vanguard FTSE Emerging Markets ETF (VWO) at 6.29%. This indicates that CPER's price experiences larger fluctuations and is considered to be riskier than VWO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CPER | VWO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.22% | 6.29% | +3.93% |
Volatility (6M)Calculated over the trailing 6-month period | 23.14% | 13.80% | +9.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 34.78% | 16.37% | +18.41% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 27.04% | 17.45% | +9.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.07% | 19.23% | +4.84% |
CPER vs. VWO - Expense Ratio Comparison
CPER has a 1.06% expense ratio, which is higher than VWO's 0.08% expense ratio.
Dividends
CPER vs. VWO - Dividend Comparison
CPER has not paid dividends to shareholders, while VWO's dividend yield for the trailing twelve months is around 2.49%.
| 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% |
VWO Vanguard FTSE Emerging Markets ETF | 2.49% | 2.79% | 3.20% | 3.52% | 4.11% | 2.63% | 1.91% | 3.23% | 2.88% | 2.30% | 2.52% | 3.26% |
Frequently Asked Questions
CPER and VWO have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CPER has higher volatility (10.22%) compared to VWO (6.29%). In terms of maximum drawdown, CPER dropped -54.04% vs VWO's -67.68%.
On 10-year performance, CPER leads with 11.08% vs 8.60% for VWO. On fees, VWO is cheaper at 0.08% per year. On volatility, VWO has been the lower-risk option at 6.29%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, CPER has performed better with a 11.08% return vs 8.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VWO is cheaper with a 0.08% expense ratio, compared with 1.06% for CPER.
VWO has the higher dividend yield at 2.49%, compared with 0.00% for CPER.
CPER is categorized as Metals, while VWO is Emerging Markets Equities. CPER tracks SummerHaven Copper Index Total Return, while VWO tracks FTSE Emerging Index. They also come from different issuers: USCF and Vanguard. Their fees differ too: 1.06% for CPER and 0.08% for VWO.
VWO currently has the higher Sharpe Ratio (1.49 vs 0.80), 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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