CPER vs COPX Stock Comparison: AI Score, Valuation, Performance and Upside
CPER and COPX sit in related but distinct corners of the ETF landscape — CPER centers on direct futures-based exposure to copper prices, while COPX focuses on equity exposure to copper mining companies worldwide. Investors choosing between them should weigh how each fund's strategy lines up with their own goals rather than assuming they're interchangeable.
Choosing between CPER and COPX comes down to which specific exposure — direct futures-based exposure to copper prices or equity exposure to copper mining companies worldwide — better matches the role you want this holding to play in a diversified portfolio.
COPX holds the edge across 3 of 5 key metrics in this comparison. CPER has delivered stronger 1-year price return (+23.50% vs +18.98% for COPX).
- want direct futures-based exposure to copper prices
- prefer USCF's approach and fund lineup
- value direct commodity exposure to copper's role in electrification and EVs
- are comfortable with futures-based structure still carries some contango risk
- want equity exposure to copper mining companies worldwide
- prefer Global X's approach and fund lineup
- value equity leverage can amplify gains during copper bull markets
- are comfortable with equity exposure adds company-specific and operational risk beyond copper prices alone
| Metric | CPER | COPX |
|---|---|---|
| ETF scorei | 27.3 | 27.6 |
| Latest closei | $38.99 | $71.96 |
| 1M returni | -1.99% | -15.04% |
| 3M returni | -1.44% | -8.75% |
| 6M returni | +7.62% | -8.66% |
| 1Y returni | +23.50% | +18.98% |
The ETF score weights long-term returns and risk-adjusted performance most heavily, but still rewards low expense ratios, larger fund size, and broader diversification — so it can favor low-cost, broad, mega-cap funds over smaller thematic or actively-managed funds even when the latter have delivered stronger returns.
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | CPER | COPX |
|---|---|---|
| 1Y ago | $12.35K (+23.5%) started 2025-10-30 | $12.21K (+22.1%) started 2025-10-30 |
| 5Y ago | $14.52K (+45.2%) started 2021-11-01 | $24.38K (+143.8%) started 2021-11-01 |
| 10Y ago | $26.98K (+169.8%) started 2016-10-31 | $61.95K (+519.5%) started 2016-10-31 |
Hypothetical — past performance does not guarantee future results.
| Metric | CPER | COPX |
|---|---|---|
| Expense ratioi | 0.88% | 0.65% |
| Total assets (AUM)i | $713.38M | $7.25B |
| Dividend yieldi | 0.00% | 2.27% |
| Trailing P/Ei | 4.56 | 13.56 |
| Betai | 0.46 | 1.14 |
| 52-week change | 23.50% | 18.98% |
| Metric | CPER | COPX |
|---|---|---|
| 1Y returni | +23.50% | +18.98% |
| 6M returni | +7.62% | -8.66% |
| 3M returni | -1.44% | -8.75% |
| 1M returni | -1.99% | -15.04% |
| 1Y Sharpe ratio | 0.73 | 0.51 |
| Betai | 0.46 | 1.14 |
| Dividend yieldi | 0.00% | 2.27% |
| 5Y CAGR | +7.75% | +16.62% |
Over the past year, CPER and COPX have moved strongly in the same direction (correlation of 0.82), based on daily returns.
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
| Period | Metric | CPER | COPX |
|---|---|---|---|
| 1Y | Growthi | +23.50% | +18.98% |
| CAGRi | +23.52% | +18.99% | |
| Volatilityi | 28.12% | 47.57% | |
| Sharpe ratioi | 0.73 | 0.51 | |
| Sortino ratioi | 1.04 | 0.72 | |
| Max drawdowni | 16.43% | 27.82% | |
| Current drawdowni | 5.89% | 25.39% | |
| Avg drawdowni | 4.36% | 10.16% | |
| Ulcer Indexi | 5.45% | 12.64% | |
| Max daily dropi | 5.89% | 10.62% | |
| Max wkly dropi | 8.96% | 16.46% | |
| 5Y | Growthi | +45.16% | +115.50% |
| CAGRi | +7.75% | +16.62% | |
| Volatilityi | 26.84% | 37.59% | |
| Sharpe ratioi | 0.25 | 0.48 | |
| Sortino ratioi | 0.34 | 0.69 | |
| Max drawdowni | 34.75% | 42.12% | |
| Current drawdowni | 5.89% | 25.39% | |
| Avg drawdowni | 13.77% | 15.25% | |
| Ulcer Indexi | 16.29% | 18.14% | |
| Max daily dropi | 19.31% | 10.62% | |
| Max wkly dropi | 24.11% | 20.59% | |
| 10Y | Growthi | +169.83% | +399.41% |
| CAGRi | +10.44% | +17.46% | |
| Volatilityi | 24.23% | 36.23% | |
| Sharpe ratioi | 0.35 | 0.50 | |
| Sortino ratioi | 0.48 | 0.72 | |
| Max drawdowni | 38.42% | 65.41% | |
| Current drawdowni | 5.89% | 25.39% | |
| Avg drawdowni | 13.12% | 18.13% | |
| Ulcer Indexi | 15.61% | 21.80% | |
| Max daily dropi | 19.31% | 17.44% | |
| Max wkly dropi | 24.11% | 25.82% |
| Category | CPER | COPX |
|---|---|---|
| Fund name | United States Copper Index Fund, LP | Global X Copper Miners ETF |
| Type | ETF | ETF |
| Expense ratioi | 0.88% | 0.65% |
| Total assets (AUM)i | $713.38M | $7.25B |
| Dividend yieldi | 0.00% | 2.27% |
- Direct commodity exposure to copper's role in electrification and EVs
- Index methodology aims to reduce futures-roll cost versus naive futures funds
- No mining-company operational or balance-sheet risk
- Equity leverage can amplify gains during copper bull markets
- Global diversification across mining jurisdictions
- Benefits from long-term electrification and grid-buildout demand for copper
- Futures-based structure still carries some contango risk
- Copper prices are highly sensitive to Chinese demand and global growth
- More volatile than diversified broad-commodity funds
- Equity exposure adds company-specific and operational risk beyond copper prices alone
- Mining company earnings can lag or lead copper prices unpredictably
- Concentrated in a relatively small number of global copper miners
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