# United States Copper Index Fund, LP (CPER)

> Source: Nexqual · https://nexqual.com/CPER · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, United States Copper Index Fund, LP (CPER), nexqual.com/CPER" · informational, not investment advice.

**Price:** USD 39.06 (+1.53% on the day) · last close of Oct 23, 2026; US market after hours, not a live price. Prev close 38.47 · day 38.82–39.26 · 52w 30.49–41.52 · market cap null · PCX

## Key facts
- Total return with dividends: 1Y +23.6% vs S&P 500 +13.4%; 5Y +45.5% vs S&P 500 +76.9%.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $34.1M | -$68.9M | -$4.2M | -$16.6M | — | — |
| Net income | $28.6M | -$74.9M | -$8.1M | -$18.1M | $75.3M | $150M |
| Net margin | 84.0% | 108.8% | 192.0% | 109.6% | — | — |
| Revenue growth | +469.1% | -302.2% | +93.8% | -290.4% | — | — |
| Cash + short-term investments | $476M | $439M | $170M | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Mar 31, 2022)


## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | +23.6% | +45.5% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | +23.7% | +7.8% |
| Volatility (annualized) | 28.2% | 26.1% |
| Max drawdown | -16.4% (Jan 2026→Mar 2026) | -34.8% (Feb 2022→Jul 2022) |

## Peers
COPX (Global X Copper Miners ETF) USD 73.09 -0.05% · PPLT (abrdn Physical Platinum Shares ) USD 14.05 -1.06% · PALL (abrdn Physical Palladium Shares) USD 18.94 -0.94% · WEAT (Teucrium Wheat Fund ETV) USD 22.83 -0.04% · CORN (Teucrium Corn Fund ETV) USD 17.68 -0.56%

## More
Full page: https://nexqual.com/CPER · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Options: expected move (Cboe, 15-min delayed)

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 21.6% | ±5.0% |
| 2026-12-18 | 56 | 22.6% | ±7.2% |
| 2027-01-15 | 84 | 22.7% | ±8.8% |
| 2027-04-16 | 175 | 23.5% | ±13.2% |
| 2027-06-17 | 237 | 23.6% | ±15.5% |
| 2027-07-16 | 266 | 24.5% | ±17.0% |
| 2027-08-20 | 301 | 27.7% | ±20.5% |