CPER vs. WMT

Last updated Jun 9, 2026

CPER (United States Copper Index Fund) is Metals fund tracking the SummerHaven Copper Index Total Return, while WMT (Walmart Inc.) is a stock. Over the past 10 years, CPER returned 11.08%/yr vs 19.62%/yr for WMT. At a 0.09 correlation, their price movements are largely independent.

Performance

CPER vs. WMT - Performance Comparison

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

Returns By Period

In the year-to-date period, CPER achieves a 10.27% return, which is significantly higher than WMT's 7.98% return. Over the past 10 years, CPER has underperformed WMT with an annualized return of 11.08%, while WMT has yielded a comparatively higher 19.62% 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%

WMT

• 1D: 0.80%
• 1M: -8.13%
• YTD: 7.98%
• 6M: 6.15%
• 1Y: 23.97%
• 3Y*: 34.37%
• 5Y*: 22.47%
• 10Y*: 19.62%

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

CPER vs. WMT - 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%
WMT Walmart Inc.	7.98%	24.49%	73.99%	12.88%	-0.46%	1.97%	23.32%	30.16%	-3.43%	46.56%

Correlation

The correlation between CPER and WMT is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.04
Correlation (3Y) Calculated over the trailing 3-year period	0.04
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.10
Correlation (All Time) Calculated using the full available price history since Nov 16, 2011	0.09

The correlation between CPER and WMT shifts across timeframes, from -0.04 (1 year) to 0.10 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

CPER vs. WMT — Risk / Return Rank

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

CPER

CPER Risk / Return Rank: 25
CPER Sharpe Ratio Rank: 25
CPER Sortino Ratio Rank: 23
CPER Omega Ratio Rank: 31
CPER Calmar Ratio Rank: 26
CPER Martin Ratio Rank: 21

WMT

WMT Risk / Return Rank: 71
WMT Sharpe Ratio Rank: 73
WMT Sortino Ratio Rank: 67
WMT Omega Ratio Rank: 67
WMT Calmar Ratio Rank: 70
WMT Martin Ratio Rank: 76

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. WMT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for United States Copper Index Fund (CPER) and Walmart Inc. (WMT). 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	WMT	Difference
Sharpe ratio: Return per unit of total volatility	0.80	1.02	-0.22
Sortino ratio: Return per unit of downside risk	1.15	1.54	-0.40
Omega ratio: Gain probability vs. loss probability	1.19	1.20	-0.01
Calmar ratio: Return relative to maximum drawdown	1.12	1.53	-0.41
Martin ratio: Return relative to average drawdown	2.31	5.02	-2.71
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. WMT - Sharpe Ratio Comparison

The current CPER Sharpe Ratio is 0.80, which is comparable to the WMT Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of CPER and WMT, 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	WMT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	1.02	-0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	1.04	-0.79
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.46	0.91	-0.44
Sharpe Ratio (All Time) Calculated using the full available price history	0.13	0.64	-0.51

Drawdowns

CPER vs. WMT - Drawdown Comparison

The maximum CPER drawdown since its inception was -54.04%, smaller than the maximum WMT drawdown of -77.14%. Use the drawdown chart below to compare losses from any high point for CPER and WMT.

Drawdown Indicators

	CPER	WMT	Difference
Max Drawdown Largest peak-to-trough decline	-54.04%	-77.14%	+23.10%
Max Drawdown (1Y) Largest decline over 1 year	-24.77%	-15.75%	-9.02%
Max Drawdown (3Y) Largest decline over 3 years	-24.77%	-21.93%	-2.84%
Max Drawdown (5Y) Largest decline over 5 years	-34.75%	-25.74%	-9.01%
Max Drawdown (10Y) Largest decline over 10 years	-38.42%	-25.74%	-12.68%
Current Drawdown Current decline from peak	-5.05%	-10.71%	+5.66%
Average Drawdown Average peak-to-trough decline	-25.39%	-14.63%	-10.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.94%	4.79%	+7.15%

Volatility

CPER vs. WMT - Volatility Comparison

United States Copper Index Fund (CPER) and Walmart Inc. (WMT) have volatilities of 10.22% and 10.26%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPER	WMT	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.22%	10.26%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	23.14%	18.59%	+4.55%
Volatility (1Y) Calculated over the trailing 1-year period	34.78%	23.72%	+11.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.04%	21.68%	+5.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	24.07%	21.73%	+2.34%

Dividends

CPER vs. WMT - Dividend Comparison

CPER has not paid dividends to shareholders, while WMT's dividend yield for the trailing twelve months is around 0.81%.

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%
WMT Walmart Inc.	0.81%	0.84%	0.92%	1.45%	1.58%	1.52%	1.50%	1.78%	2.23%	2.07%	2.89%	3.20%

Frequently Asked Questions

Can I hold both CPER and WMT in my portfolio?

CPER and WMT 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.

Which is riskier, CPER or WMT?

WMT has higher volatility (10.26%) compared to CPER (10.22%). In terms of maximum drawdown, CPER dropped -54.04% vs WMT's -77.14%.

Which has better risk-adjusted returns?

WMT currently has the higher Sharpe Ratio (1.02 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.