CPXR vs. COPP

Last updated Jun 23, 2026

CPXR (USCF Daily Target 2X Copper Index ETF) and COPP (Sprott Copper Miners ETF) are both Copper funds - CPXR tracks the SummerHaven Copper Index while COPP tracks the Nasdaq Sprott Copper Miners Index. Both are passively managed. Over the past year, CPXR returned 33.95% vs 97.45% for COPP. A 0.74 correlation means they provide meaningful diversification when combined. CPXR charges 1.20%/yr vs 0.65%/yr for COPP.

Performance

CPXR vs. COPP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USCF Daily Target 2X Copper Index ETF (CPXR) and Sprott Copper Miners ETF (COPP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPXR achieves a 16.38% return, which is significantly lower than COPP's 19.28% return.

CPXR

• 1D: -0.73%
• 1M: -1.52%
• YTD: 16.38%
• 6M: 23.89%
• 1Y: 33.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

COPP

• 1D: -1.28%
• 1M: 4.93%
• YTD: 19.28%
• 6M: 21.19%
• 1Y: 97.45%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CPXR vs. COPP - Yearly Performance Comparison

	2026 (YTD)	2025
CPXR USCF Daily Target 2X Copper Index ETF	16.38%	35.65%
COPP Sprott Copper Miners ETF	19.28%	66.24%

Correlation

The correlation between CPXR and COPP is 0.77, 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	0.77
Correlation (All Time) Calculated using the full available price history since Jan 22, 2025	0.74

The correlation between CPXR and COPP has been stable across timeframes, ranging from 0.74 to 0.77 - a consistent structural relationship.

Return for Risk

CPXR vs. COPP — Risk / Return Rank

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

CPXR

CPXR Risk / Return Rank: 19
CPXR Sharpe Ratio Rank: 16
CPXR Sortino Ratio Rank: 19
CPXR Omega Ratio Rank: 26
CPXR Calmar Ratio Rank: 17
CPXR Martin Ratio Rank: 15

COPP

COPP Risk / Return Rank: 63
COPP Sharpe Ratio Rank: 70
COPP Sortino Ratio Rank: 56
COPP Omega Ratio Rank: 56
COPP Calmar Ratio Rank: 70
COPP Martin Ratio Rank: 64

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.

CPXR vs. COPP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USCF Daily Target 2X Copper Index ETF (CPXR) and Sprott Copper Miners ETF (COPP). 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.

	CPXR	COPP	Difference
Sharpe ratio: Return per unit of total volatility	0.49	2.19	-1.69
Sortino ratio: Return per unit of downside risk	1.05	2.58	-1.54
Omega ratio: Gain probability vs. loss probability	1.17	1.34	-0.16
Calmar ratio: Return relative to maximum drawdown	0.71	3.39	-2.68
Martin ratio: Return relative to average drawdown	1.31	11.35	-10.04

CPXR vs. COPP - Sharpe Ratio Comparison

The current CPXR Sharpe Ratio is 0.49, which is lower than the COPP Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of CPXR and COPP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CPXR vs. COPP - Drawdown Comparison

The maximum CPXR drawdown since its inception was -47.87%, which is greater than COPP's maximum drawdown of -44.37%. Use the drawdown chart below to compare losses from any high point for CPXR and COPP.

Drawdown Indicators

	CPXR	COPP	Difference
Max Drawdown Largest peak-to-trough decline	-47.87%	-44.37%	-3.50%
Max Drawdown (1Y) Largest decline over 1 year	-47.87%	-28.91%	-18.96%
Current Drawdown Current decline from peak	-9.18%	-9.15%	-0.03%
Average Drawdown Average peak-to-trough decline	-19.43%	-13.89%	-5.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	26.00%	8.61%	+17.39%

Volatility

CPXR vs. COPP - Volatility Comparison

The current volatility for USCF Daily Target 2X Copper Index ETF (CPXR) is 16.01%, while Sprott Copper Miners ETF (COPP) has a volatility of 17.34%. This indicates that CPXR experiences smaller price fluctuations and is considered to be less risky than COPP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPXR	COPP	Difference
Volatility (1M) Calculated over the trailing 1-month period	16.01%	17.34%	-1.33%
Volatility (6M) Calculated over the trailing 6-month period	45.81%	38.75%	+7.06%
Volatility (1Y) Calculated over the trailing 1-year period	69.49%	44.90%	+24.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.18%	41.44%	+26.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.18%	41.44%	+26.74%

CPXR vs. COPP - Expense Ratio Comparison

CPXR has a 1.20% expense ratio, which is higher than COPP's 0.65% expense ratio.

Dividends

CPXR vs. COPP - Dividend Comparison

CPXR's dividend yield for the trailing twelve months is around 0.60%, less than COPP's 1.98% yield.

Position	TTM	2025	2024
COPP Sprott Copper Miners ETF	1.98%	2.37%	2.59%
CPXR USCF Daily Target 2X Copper Index ETF	0.60%	0.70%	0.00%

Frequently Asked Questions

Can I hold both CPXR and COPP in my portfolio?

CPXR and COPP have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPXR or COPP?

COPP has higher volatility (17.34%) compared to CPXR (16.01%). In terms of maximum drawdown, CPXR dropped -47.87% vs COPP's -44.37%.

Which ETF is better, CPXR or COPP?

On 1-year performance, COPP leads with 97.45% vs 33.95% for CPXR. On fees, COPP is cheaper at 0.65% per year. On volatility, CPXR has been the lower-risk option at 16.01%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CPXR or COPP?

Over the 1-year period, COPP has performed better with a 97.45% return vs 33.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CPXR or COPP?

COPP is cheaper with a 0.65% expense ratio, compared with 1.20% for CPXR.

Which ETF pays a higher dividend yield, CPXR or COPP?

COPP has the higher dividend yield at 1.98%, compared with 0.60% for CPXR.

What is the main difference between CPXR and COPP?

CPXR tracks SummerHaven Copper Index, while COPP tracks Nasdaq Sprott Copper Miners Index. They also come from different issuers: USCF and Sprott. Their fees differ too: 1.20% for CPXR and 0.65% for COPP.

Which has better risk-adjusted returns?

COPP currently has the higher Sharpe Ratio (2.19 vs 0.49), 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.