CPXR vs. COPX

Last updated Aug 4, 2026

CPXR (USCF Daily Target 2X Copper Index ETF) and COPX (Global X Copper Miners ETF) are both Copper funds - CPXR tracks the SummerHaven Copper Index while COPX tracks the Solactive Global Copper Miners Total Return Index. Both are passively managed. Over the past year, CPXR returned 84.43% vs 90.64% for COPX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. CPXR charges 1.20%/yr vs 0.65%/yr for COPX.

Performance

CPXR vs. COPX - Performance Comparison

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

Returns By Period

In the year-to-date period, CPXR achieves a 20.70% return, which is significantly higher than COPX's 10.92% return.

CPXR

• 1D: 0.41%
• 1M: 12.40%
• 6M: 16.06%
• YTD: 20.70%
• 1Y: 84.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 38.09%

COPX

• 1D: 0.63%
• 1M: 3.54%
• 6M: -6.54%
• YTD: 10.92%
• 1Y: 90.64%
• 3Y*: 28.12%
• 5Y*: 19.06%
• 10Y*: 19.03%
• ALL TIME*: 5.80%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
COPX Global X Copper Miners ETF	$198.30M	$195.15M	$298.86M
CPXR USCF Daily Target 2X Copper Index ETF	$387.13K	$344.43K	$735.78K

CPXR vs. COPX - Yearly Performance Comparison

	2026 (YTD)	2025
CPXR USCF Daily Target 2X Copper Index ETF	20.70%	35.65%
COPX Global X Copper Miners ETF	10.92%	83.14%

Correlation

The correlation between CPXR and COPX is 0.81, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.81
Correlation (All Time) Calculated using the full available price history since Jan 22, 2025	0.76

The correlation between CPXR and COPX has been stable across timeframes, ranging from 0.76 to 0.81 - a consistent structural relationship.

Return for Risk

CPXR vs. COPX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CPXR

CPXR Risk / Return Rank: 60
CPXR Sharpe Ratio Rank: 60
CPXR Sortino Ratio Rank: 55
CPXR Omega Ratio Rank: 56
CPXR Calmar Ratio Rank: 71
CPXR Martin Ratio Rank: 60

COPX

COPX Risk / Return Rank: 76
COPX Sharpe Ratio Rank: 84
COPX Sortino Ratio Rank: 72
COPX Omega Ratio Rank: 72
COPX Calmar Ratio Rank: 85
COPX Martin Ratio Rank: 66

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CPXR vs. COPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USCF Daily Target 2X Copper Index ETF (CPXR) and Global X Copper Miners ETF (COPX). 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	COPX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.99	-0.46
Sortino ratio: Return per unit of downside risk	2.06	2.37	-0.31
Omega ratio: Gain probability vs. loss probability	1.27	1.31	-0.04
Calmar ratio: Return relative to maximum drawdown	2.68	3.28	-0.59
Martin ratio: Return relative to average drawdown	7.77	8.15	-0.38

CPXR vs. COPX - Sharpe Ratio Comparison

The current CPXR Sharpe Ratio is 1.54, which is comparable to the COPX Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of CPXR and COPX, 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. COPX - Drawdown Comparison

The maximum CPXR drawdown since its inception was -47.87%, smaller than the maximum COPX drawdown of -83.16%. Use the drawdown chart below to compare losses from any high point for CPXR and COPX.

Drawdown Indicators

	CPXR	COPX	Difference
Max Drawdown Largest peak-to-trough decline	-47.87%	-83.16%	+35.29%
Max Drawdown (1Y) Largest decline over 1 year	-31.64%	-27.82%	-3.82%
Max Drawdown (3Y) Largest decline over 3 years	—	-39.72%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-42.12%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-65.41%	—
Current Drawdown Current decline from peak	-5.81%	-16.79%	+10.98%
Average Drawdown Average peak-to-trough decline	-18.93%	-39.11%	+20.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.90%	11.16%	-0.26%

Volatility

CPXR vs. COPX - Volatility Comparison

The current volatility for USCF Daily Target 2X Copper Index ETF (CPXR) is 12.08%, while Global X Copper Miners ETF (COPX) has a volatility of 13.49%. This indicates that CPXR experiences smaller price fluctuations and is considered to be less risky than COPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPXR	COPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.08%	13.49%	-1.41%
Volatility (6M) Calculated over the trailing 6-month period	40.11%	38.34%	+1.77%
Volatility (1Y) Calculated over the trailing 1-year period	55.37%	45.85%	+9.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.83%	37.29%	+29.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	66.83%	35.89%	+30.94%

CPXR vs. COPX - Expense Ratio Comparison

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

Dividends

CPXR vs. COPX - Dividend Comparison

CPXR's dividend yield for the trailing twelve months is around 0.58%, less than COPX's 2.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COPX Global X Copper Miners ETF	2.43%	2.68%	1.80%	2.39%	3.14%	1.48%	1.30%	1.37%	2.59%	1.57%	0.60%	1.20%
CPXR USCF Daily Target 2X Copper Index ETF	0.58%	0.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CPXR and COPX in my portfolio?

CPXR and COPX have a correlation of 0.81, 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 COPX?

COPX has higher volatility (13.49%) compared to CPXR (12.08%). In terms of maximum drawdown, CPXR dropped -47.87% vs COPX's -83.16%.

Which ETF is better, CPXR or COPX?

On 1-year performance, COPX leads with 90.64% vs 84.43% for CPXR. On fees, COPX is cheaper at 0.65% per year. On volatility, CPXR has been the lower-risk option at 12.08%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CPXR or COPX?

Over the 1-year period, COPX has performed better with a 90.64% return vs 84.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CPXR or COPX?

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

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

COPX has the higher dividend yield at 2.43%, compared with 0.58% for CPXR.

What is the main difference between CPXR and COPX?

CPXR tracks SummerHaven Copper Index, while COPX tracks Solactive Global Copper Miners Total Return Index. They also come from different issuers: USCF and Global X. Their fees differ too: 1.20% for CPXR and 0.65% for COPX.

Which has better risk-adjusted returns?

COPX currently has the higher Sharpe Ratio (1.99 vs 1.54), 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.