The United States Copper Index Fund (CPER) is an exchange-traded commodity pool designed to track the performance of the copper market through futures contracts. The fund is managed by United States Commodity Funds (USCF) and trades under the ticker CPER on the NYSE Arca.

Classified as a commodities fund, CPER provides exposure to copper prices without requiring investors to own or store the physical metal. Its strategy uses exchange-traded copper futures contracts, offering access to one of the world's most important industrial metals.

The fund follows a futures-based strategy and seeks to track the performance of the SummerHaven Copper Index Total Return, a benchmark designed to measure copper futures returns while attempting to mitigate the negative effects of futures roll yield through a rules-based contract selection methodology.

Diversification and sector exposure

CPER provides exposure primarily associated with:

• Copper.

• Commodities.

• Industrial metals.

• Futures contracts.

• Infrastructure.

• Construction.

• Energy.

• Energy transition.

The portfolio primarily consists of copper futures contracts and may also hold cash, U.S. Treasury securities, and other short-term instruments to meet operational and margin requirements.

The fund's performance generally reflects movements in the global copper market but may differ from spot copper prices because of futures roll costs and the characteristics of the futures market.

Structure and costs

CPER shares trade on the secondary market on the NYSE Arca during regular trading hours. Share creation and redemption occur through authorized participants, a mechanism intended to help align the fund's market price with its net asset value (NAV).

The fund uses exchange-traded copper futures contracts and maintains part of its assets in highly liquid instruments to support its investment strategy. The fund charges a management fee as outlined in its prospectus and does not apply a performance fee.

History and evolution of the ETF

The United States Copper Index Fund was launched in 2011 to provide investors with exchange-traded exposure to the global copper market. Since inception, the fund has reflected developments in the international copper market, including changes in industrial activity, infrastructure demand, and global economic growth.

In recent years, the expansion of electrification, renewable energy generation, electric vehicle production, and investments in power grid infrastructure have further increased copper's strategic importance, continuing to influence the fund's performance.

Additional Information

United States Copper Index Fund (United States) is an exchange-traded fund (ETF), with assets under management totaling $752.30 million.

Over the past 12 months, United States Copper Index Fund recorded a return of 43.68%, with its price trading between $27.57 and $40.85 during the same period.

The ETF is traded under the ticker CPER.