CPER — United States Copper Index Fund, LP
Commodities Ranked #419 of 458 tracked ETFs · Issued by USCF Investments
CPER Price Performance — Growth of $10,000
Value of a $10,000 investment in CPER over time, compared with SPY. Both lines are rebased to $10,000 on the first shared date. Based on total returns — prices are adjusted for dividends and splits, so this assumes distributions were reinvested. Hover or tap the chart for exact values.
CPER Drawdown
The "underwater" chart: CPER's decline from its highest prior value at each point in time. It shows how deep past losses ran and how long the fund took to recover to break-even.
What If You'd Invested in CPER?
See what a lump sum in CPER would have grown to, with the option to add a regular monthly contribution on top. Figures use total returns — dividends are assumed reinvested.
Past performance doesn't predict future results. Assumes contributions on the first trading day of each month, no trading costs or taxes, and reinvested distributions. History is limited to the range published in the site's daily return data.
Overview
The United States Copper Index Fund, LP (CPER) is a commodity-focused fund issued by USCF Investments that currently holds $738 million in assets under management. Tracked within a category of 22 ETFs, the fund carries an overall rank of #419 out of 458 tracked ETFs across all categories and has received an ETFValuer grade of D with a score of 40.1 out of 100. Investors face an annual expense ratio of 0.88% while the fund offers a dividend yield of 0.00%, indicating no current income distribution. The current share price stands at $38.35, and the asset size suggests a moderate level of investor adoption relative to the broader market. Despite the substantial asset base, the low overall ranking and grade reflect challenges in meeting broader performance or efficiency benchmarks. The fund's position as a copper-focused vehicle places it in a specific niche within the 22-fund commodity category. Its cost structure and lack of yield are key factors for investors evaluating the total cost of holding this specific index fund.
Over the most recent trading day, the fund posted a gain of +0.05%, followed by a weekly decline of -2.29% that reversed into a monthly increase of +3.01%. The three-month return accelerated to +5.82%, while the six-month period showed a slightly lower gain of +4.84%. Year-to-date performance has been robust at +9.63%, contributing to a one-year return of +10.23%. The long-term trajectory is significantly stronger, with a three-year return reaching +59.13%. This pattern indicates a divergence where short-term fluctuations have been overshadowed by substantial long-term appreciation. The fund has demonstrated a general upward trend over the one-year and three-year horizons despite the volatility seen in the weekly and six-month periods.
The fund is assigned a Very High volatility label, which aligns with a beta of 0.52 relative to the broader market. A Sharpe ratio of 0.15 suggests that the risk-adjusted returns have been relatively low compared to the volatility incurred. The maximum drawdown recorded for the fund is -24.77%, indicating significant potential for capital loss during market downturns. This combination of high volatility and a deep maximum drawdown implies that the fund experiences sharp price swings in both directions. The low beta of 0.52 suggests the fund's price movements may be less sensitive to broad market moves than the average asset, yet the high volatility label indicates independent price instability. Investors should expect that the fund's behavior involves substantial risk of decline alongside its periods of growth.
AI-generated summary based on the data on this page.
Market Backdrop
10-Year Treasury Yield: 4.61% (as of 2026-07-28) — The yield on 10-year US Treasury bonds — the standard "risk-free rate" benchmark used to contextualize this fund’s Sharpe ratio and returns.
CBOE Volatility Index (VIX): 18.21 (as of 2026-07-28) — A real-time gauge of expected S&P 500 volatility over the next 30 days — useful context for this fund’s own volatility label.
Federal Funds Rate: 3.63% (as of 2026-06-01) — The Federal Reserve’s target policy rate, which anchors short-term borrowing costs across the economy.
What CPER's Fees Cost You
CPER charges an expense ratio of 0.88% a year, deducted automatically from the fund's value. Small percentages compound into real money — adjust the figures below to see the impact on your own numbers.
Assumes a constant gross return and no additional contributions — a simplification, but it isolates exactly what the expense ratio costs. Try the full fee calculator to model contributions and compare any two funds.
CPER Liquidity, Domicile & Tax Treatment
Liquidity: Quoted bid/ask spread is 0.08% and average daily volume is 642K/day. Tighter spreads and higher volume mean lower round-trip trading costs; this is a live-market snapshot and can widen during volatile sessions. AUM of $738M provides ample scale, supporting tight spreads and issuer commitment to keep the fund open.
Domicile & tax treatment: CPER is a US-domiciled, SEC-registered ('40 Act) exchange-traded fund. Dividends and capital gains distributions are reported to US investors on Form 1099-DIV, and the fund is not subject to the PFIC reporting or UCITS-specific rules that apply to Irish- or Luxembourg-domiciled funds. Non-US investors should note that US-domiciled ETFs are generally subject to 30% US withholding tax on dividends (unless reduced by treaty) and to US estate tax exposure on the position — Irish-domiciled UCITS ETFs tracking the same index often avoid both, which is why non-US residents frequently prefer the UCITS equivalent where one exists. This is general information, not tax advice — consult a tax professional for your situation.
CPER Performance History
| Period | Return |
|---|---|
| 1-Day | +0.05% |
| 1-Week | -2.29% |
| 1-Month | +3.01% |
| 3-Month | +5.82% |
| 6-Month | +4.84% |
| YTD | +9.63% |
| 1-Year | +10.23% |
| 3-Year | +59.13% |
How CPER Compares to Other Commodities ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #55 | B |
BCI | abrdn Bloomberg All Commodity Strategy K-1 Free ETF | +32.59% | 0.26% | $2.28B |
| #107 | B |
PDBC | Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | +36.62% | 0.59% | $5.33B |
| #138 | B |
DJP | iPath Bloomberg Commodity Index Total Return(SM) ETN | +36.99% | 0.7% | $850M |
| #162 | B |
DBC | Invesco DB Commodity Index Tracking Fund | +35.76% | 0.85% | $1.58B |
| #163 | B |
COMT | iShares GSCI Commodity Dynamic Roll Strategy ETF | +33.21% | 0.48% | $1.11B |
| #170 | C |
GSG | iShares S&P GSCI Commodity-Indexed Trust | +41.48% | 0.75% | $839M |
| #175 | C |
GLDM | SPDR Gold MiniShares | +21.81% | 0.1% | $27.3B |
| #183 | C |
DBB | Invesco DB Base Metals Fund | +29.83% | 0.75% | $355M |
| #186 | C |
IAU | iShares Gold Trust | +21.63% | 0.25% | $60.1B |
| #196 | C |
SLV | iShares Silver Trust | +49.45% | 0.5% | $28.2B |
| #202 | C |
GLD | SPDR Gold Shares | +21.50% | 0.4% | $130B |
| #203 | C |
IAUM | iShares Gold Trust Micro | +21.89% | 0.09% | $6.31B |
| #220 | C |
USO | United States Oil Fund, LP | +67.57% | 0.86% | $1.88B |
| #230 | C |
SGOL | abrdn Physical Gold Shares ETF | +21.71% | 0.17% | $6.74B |
| #281 | C |
OUNZ | VanEck Merk Gold Trust | +21.66% | 0.25% | $2.50B |
| #283 | C |
BAR | GraniteShares Gold Trust | +21.76% | 0.1749% | $1.33B |
| #379 | C |
DBA | Invesco DB Agriculture Fund | +8.58% | 0.85% | $1.15B |
| #400 | D |
PPLT | abrdn Physical Platinum Shares ETF | +16.00% | 0.6% | $1.77B |
| #419 | D |
CPER | United States Copper Index Fund, LP | +10.23% | 0.88% | $738M |
| #451 | F |
WEAT | Teucrium Wheat Fund | +10.11% | 1% | $269M |
| #452 | F |
PALL | abrdn Physical Palladium Shares ETF | +1.72% | 0.6% | $591M |
| #457 | F |
UNG | United States Natural Gas Fund, LP | -27.36% | 1.17% | $419M |