CPXR vs. COPX

Last updated Jun 4, 2026

CPXR (USCF Daily Target 2X Copper Index ETF) and COPX (Global X Copper Miners ETF) are both exchange-traded funds - CPXR is a Leveraged Commodities fund tracking the SummerHaven Copper Index, while COPX is a Materials fund tracking the Solactive Global Copper Miners Index. Both are passively managed. Over the past year, CPXR returned 37.97% vs 120.82% for COPX. A 0.76 correlation means they provide meaningful diversification when combined. 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 21.61% return, which is significantly lower than COPX's 25.71% return.

CPXR

• 1D: -5.10%
• 1M: 21.98%
• YTD: 21.61%
• 6M: 34.31%
• 1Y: 37.97%
• 3Y*: —
• 5Y*: —
• 10Y*: —

COPX

• 1D: -3.64%
• 1M: 17.74%
• YTD: 25.71%
• 6M: 36.90%
• 1Y: 120.82%
• 3Y*: 37.36%
• 5Y*: 19.87%
• 10Y*: 21.95%

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

CPXR vs. COPX - Yearly Performance Comparison

	2026 (YTD)	2025
CPXR USCF Daily Target 2X Copper Index ETF	21.61%	36.03%
COPX Global X Copper Miners ETF	25.71%	88.42%

Correlation

The correlation between CPXR and COPX is 0.78, 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	0.78
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025	0.76

The correlation between CPXR and COPX has been stable across timeframes, ranging from 0.76 to 0.78 - a consistent structural relationship.

Return for Risk

CPXR vs. COPX — Risk / Return Rank

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

CPXR

CPXR Risk / Return Rank: 20
CPXR Sharpe Ratio Rank: 18
CPXR Sortino Ratio Rank: 21
CPXR Omega Ratio Rank: 27
CPXR Calmar Ratio Rank: 19
CPXR Martin Ratio Rank: 16

COPX

COPX Risk / Return Rank: 75
COPX Sharpe Ratio Rank: 86
COPX Sortino Ratio Rank: 67
COPX Omega Ratio Rank: 67
COPX Calmar Ratio Rank: 82
COPX Martin Ratio Rank: 73

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. 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.

	CPXR	COPX	Difference
Sharpe ratio: Return per unit of total volatility	0.55	2.93	-2.38
Sortino ratio: Return per unit of downside risk	1.11	3.17	-2.06
Omega ratio: Gain probability vs. loss probability	1.18	1.42	-0.23
Calmar ratio: Return relative to maximum drawdown	0.80	4.37	-3.57
Martin ratio: Return relative to average drawdown	1.47	14.00	-12.54
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CPXR vs. COPX - Sharpe Ratio Comparison

The current CPXR Sharpe Ratio is 0.55, which is lower than the COPX Sharpe Ratio of 2.93. 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.

Sharpe Ratios by Period

	CPXR	COPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.55	2.93	-2.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.55	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.62	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.19	+0.47

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	-47.87%	-27.82%	-20.05%
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	-5.10%	-5.69%	+0.59%
Average Drawdown Average peak-to-trough decline	-19.88%	-39.30%	+19.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	25.94%	8.66%	+17.28%

Volatility

CPXR vs. COPX - Volatility Comparison

USCF Daily Target 2X Copper Index ETF (CPXR) has a higher volatility of 18.75% compared to Global X Copper Miners ETF (COPX) at 15.38%. This indicates that CPXR's price experiences larger fluctuations and is considered to be riskier 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	18.75%	15.38%	+3.37%
Volatility (6M) Calculated over the trailing 6-month period	45.26%	35.68%	+9.58%
Volatility (1Y) Calculated over the trailing 1-year period	68.77%	41.41%	+27.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	68.61%	36.51%	+32.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	68.61%	35.55%	+33.06%

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 2.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
COPX Global X Copper Miners ETF	2.13%	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 0.78, 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?

CPXR has higher volatility (18.75%) compared to COPX (15.38%). 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 120.82% vs 37.97% for CPXR. On fees, COPX is cheaper at 0.65% per year. On volatility, COPX has been the lower-risk option at 15.38%. 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 120.82% return vs 37.97%. 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 2.13%, compared with 0.58% for CPXR.

What is the main difference between CPXR and COPX?

CPXR is categorized as Leveraged Commodities, while COPX is Materials. CPXR tracks SummerHaven Copper Index, while COPX tracks Solactive Global Copper Miners 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 (2.93 vs 0.55), 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.