CPXR vs. CPER
CPXR (USCF Daily Target 2X Copper Index ETF) and CPER (United States Copper Index Fund) are both exchange-traded funds - CPXR is a Leveraged Commodities fund tracking the SummerHaven Copper Index, while CPER is a Metals fund tracking the SummerHaven Copper Index Total Return. Both are passively managed. Over the past year, CPXR returned 37.97% vs 29.71% for CPER. With a 0.99 correlation, they move nearly in lockstep. CPXR charges 1.20%/yr vs 1.06%/yr for CPER.
Performance
CPXR vs. CPER - Performance Comparison
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Returns By Period
In the year-to-date period, CPXR achieves a 21.61% return, which is significantly higher than CPER's 12.76% return.
CPXR
- 1D
- -5.10%
- 1M
- 21.98%
- YTD
- 21.61%
- 6M
- 34.31%
- 1Y
- 37.97%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CPER
- 1D
- -2.91%
- 1M
- 10.79%
- YTD
- 12.76%
- 6M
- 19.35%
- 1Y
- 29.71%
- 3Y*
- 19.71%
- 5Y*
- 7.21%
- 10Y*
- 10.91%
CPXR vs. CPER - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
CPXR USCF Daily Target 2X Copper Index ETF | 21.61% | 36.03% |
CPER United States Copper Index Fund | 12.76% | 29.48% |
Correlation
The correlation between CPXR and CPER is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jan 23, 2025 | 0.99 |
The correlation between CPXR and CPER has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.
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Return for Risk
CPXR vs. CPER — Risk / Return Rank
CPXR
CPER
CPXR vs. CPER - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USCF Daily Target 2X Copper Index ETF (CPXR) and United States Copper Index Fund (CPER). 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 | CPER | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.31 | ||
| Sortino ratioReturn per unit of downside risk | -0.11 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.20 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.80 | 1.20 | -0.41 |
| Martin ratioReturn relative to average drawdown | 1.47 | 2.50 | -1.03 |
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
| CPXR | CPER | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.55 | 0.87 | -0.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.27 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.46 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.13 | +0.52 |
Drawdowns
CPXR vs. CPER - Drawdown Comparison
The maximum CPXR drawdown since its inception was -47.87%, smaller than the maximum CPER drawdown of -54.04%. Use the drawdown chart below to compare losses from any high point for CPXR and CPER.
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Drawdown Indicators
| CPXR | CPER | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.87% | -54.04% | +6.17% |
Max Drawdown (1Y)Largest decline over 1 year | -47.87% | -24.77% | -23.10% |
Max Drawdown (3Y)Largest decline over 3 years | — | -24.77% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -34.75% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.42% | — |
Current DrawdownCurrent decline from peak | -5.10% | -2.91% | -2.19% |
Average DrawdownAverage peak-to-trough decline | -19.88% | -25.41% | +5.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.94% | 11.93% | +14.01% |
Volatility
CPXR vs. CPER - Volatility Comparison
USCF Daily Target 2X Copper Index ETF (CPXR) has a higher volatility of 18.75% compared to United States Copper Index Fund (CPER) at 9.73%. This indicates that CPXR's price experiences larger fluctuations and is considered to be riskier than CPER based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CPXR | CPER | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 18.75% | 9.73% | +9.02% |
Volatility (6M)Calculated over the trailing 6-month period | 45.26% | 22.85% | +22.41% |
Volatility (1Y)Calculated over the trailing 1-year period | 68.77% | 34.48% | +34.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 68.61% | 26.97% | +41.64% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 68.61% | 24.04% | +44.57% |
CPXR vs. CPER - Expense Ratio Comparison
CPXR has a 1.20% expense ratio, which is higher than CPER's 1.06% expense ratio.
Dividends
CPXR vs. CPER - Dividend Comparison
CPXR's dividend yield for the trailing twelve months is around 0.58%, while CPER has not paid dividends to shareholders.
| Position | TTM | 2025 |
|---|---|---|
CPER United States Copper Index Fund | 0.00% | 0.00% |
CPXR USCF Daily Target 2X Copper Index ETF | 0.58% | 0.70% |
Frequently Asked Questions
With a correlation of 0.99, CPXR and CPER move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
CPXR has higher volatility (18.75%) compared to CPER (9.73%). In terms of maximum drawdown, CPXR dropped -47.87% vs CPER's -54.04%.
On 1-year performance, CPXR leads with 37.97% vs 29.71% for CPER. On fees, CPER is cheaper at 1.06% per year. On volatility, CPER has been the lower-risk option at 9.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, CPXR has performed better with a 37.97% return vs 29.71%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
CPER is cheaper with a 1.06% expense ratio, compared with 1.20% for CPXR.
CPXR has the higher dividend yield at 0.58%, compared with 0.00% for CPER.
CPXR is categorized as Leveraged Commodities, while CPER is Metals. CPXR tracks SummerHaven Copper Index, while CPER tracks SummerHaven Copper Index Total Return. Their fees differ too: 1.20% for CPXR and 1.06% for CPER.
CPER currently has the higher Sharpe Ratio (0.87 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.
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