CPER — United States Copper Index Fund, LP
Commodities Ranked #424 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 #424 out of 458 ETFs across all categories and has received an ETFValuer grade of D with a score of 39.1 out of 100. Investors face an expense ratio of 0.88% while the fund offers a dividend yield of 0.00%. The current share price stands at $38.35, reflecting the fund's position in the market relative to its asset size. This combination of a low grade and a ranking near the bottom of the tracked universe suggests limited investor adoption compared to higher-ranked peers. The absence of dividend income further defines the fund's income profile as purely reliant on price appreciation.
Over the last day, the fund posted a return of +0.29%, followed by a weekly gain of +1.13% and a monthly increase of +5.62%. The three-month return stands at +3.76%, indicating a deceleration in gains compared to the one-month period, while the six-month return accelerated to +7.54%. Year-to-date performance shows a return of +9.63%, and the one-year return is recorded at +6.23%. A significant long-term trend is visible in the three-year return, which reached +54.51%, suggesting strong cumulative growth over that extended horizon. This pattern highlights a divergence where short-term volatility exists alongside substantial multi-year appreciation.
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 0.04 indicates that the risk-adjusted returns have been minimal relative to the volatility experienced. The maximum drawdown of -24.77% demonstrates the potential for significant capital erosion during market downturns. This combination of very high volatility and a low Sharpe ratio suggests the fund delivers returns that do not adequately compensate for the substantial risk taken. The negative drawdown figure further confirms that the fund is susceptible to sharp declines even if the long-term trend has been positive. Consequently, the fund exhibits behavior characterized by large price swings with limited efficiency in generating risk-adjusted gains.
AI-generated summary based on the data on this page.
Market Backdrop
10-Year Treasury Yield: 4.71% (as of 2026-07-23) — 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): 18.70 (as of 2026-07-23) — 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 1.11% and average daily volume is 649K/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 | +0.29% |
| 1-Week | +1.13% |
| 1-Month | +5.62% |
| 3-Month | +3.76% |
| 6-Month | +7.54% |
| YTD | +9.63% |
| 1-Year | +6.23% |
| 3-Year | +54.51% |
How CPER Compares to Other Commodities ETFs
| Rank | Grade | Ticker | Name | 1-Year | Exp. Ratio | AUM |
|---|---|---|---|---|---|---|
| #57 | B |
BCI | abrdn Bloomberg All Commodity Strategy K-1 Free ETF | +33.99% | 0.26% | $2.28B |
| #93 | B |
PDBC | Invesco Optimum Yield Diversified Commodity Strategy No K-1 ETF | +39.47% | 0.59% | $5.33B |
| #134 | B |
DJP | iPath Bloomberg Commodity Index Total Return(SM) ETN | +38.66% | 0.7% | $850M |
| #154 | B |
DBC | Invesco DB Commodity Index Tracking Fund | +39.02% | 0.85% | $1.58B |
| #155 | B |
COMT | iShares GSCI Commodity Dynamic Roll Strategy ETF | +35.19% | 0.48% | $1.11B |
| #161 | B |
GSG | iShares S&P GSCI Commodity-Indexed Trust | +45.00% | 0.75% | $839M |
| #185 | C |
USO | United States Oil Fund, LP | +81.58% | 0.86% | $1.88B |
| #199 | C |
GLDM | SPDR Gold MiniShares | +19.45% | 0.1% | $27.3B |
| #206 | C |
SLV | iShares Silver Trust | +47.35% | 0.5% | $28.2B |
| #207 | C |
DBB | Invesco DB Base Metals Fund | +28.03% | 0.75% | $355M |
| #213 | C |
IAU | iShares Gold Trust | +19.28% | 0.25% | $60.1B |
| #233 | C |
GLD | SPDR Gold Shares | +19.13% | 0.4% | $130B |
| #236 | C |
IAUM | iShares Gold Trust Micro | +19.50% | 0.09% | $6.31B |
| #253 | C |
SGOL | abrdn Physical Gold Shares ETF | +19.40% | 0.17% | $6.74B |
| #303 | C |
OUNZ | VanEck Merk Gold Trust | +19.28% | 0.25% | $2.50B |
| #304 | C |
BAR | GraniteShares Gold Trust | +19.41% | 0.1749% | $1.33B |
| #346 | C |
DBA | Invesco DB Agriculture Fund | +11.67% | 0.85% | $1.15B |
| #411 | D |
PPLT | abrdn Physical Platinum Shares ETF | +12.03% | 0.6% | $1.77B |
| #424 | D |
CPER | United States Copper Index Fund, LP | +6.23% | 0.88% | $738M |
| #447 | F |
WEAT | Teucrium Wheat Fund | +12.84% | 1% | $269M |
| #453 | F |
PALL | abrdn Physical Palladium Shares ETF | -3.61% | 0.6% | $591M |
| #457 | F |
UNG | United States Natural Gas Fund, LP | -23.05% | 1.17% | $419M |