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CPXR

GradeDNew York Stock Exchange Arca

USCF Daily Target 2X Copper Index ETF

Leveraged · Leveraged & Inverse · USCF · Inception 2025-01-21

This fund multiplies its index's move each day and resets that multiple daily. Because daily returns compound, its long-run return can differ from the headline multiple.

$32.92−1.55 (−4.50%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Jan 21, 2025.
Intraday session: down, 56 prints from 34.47 to 32.92. Range 32.71 to 33.40. Use the arrow keys to read each point.$32.80$33.20$33.4010 AM12 PM2 PM4 PM
Expense ratio
1.20%
Fund size
$14M
1Y return
+87.0%
Yield · Last 12 months
Data unavailable
Volume · 30D
0M sh
NAV per share
$32.30
52W range
low $18.45high $34.91

The ETF.net CPXR Grade

D

39/ 100

Rank 67 of 99 in Leveraged Long (2x & Other)⁠

Confidence Medium

Six-pillar profile for CPXR. Scores out of 100: Cost 30, Risk 55, Mission not scored, Tradability 42, Holdings not scored, Durability 49. Strongest: Risk (55). Weakest: Cost (30). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 39 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 30
    Category rank70/99 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 55
    Category rank42/94 · top 45%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 42
    Category rank61/99 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 49
    Category rank54/99 · mid-pack

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on CPXR

ETF.net Research

DCopper, geared. CPXR targets twice the daily move of the SummerHaven Copper Index through copper futures, so it tracks the metal itself rather than the miners. The daily reset makes it a short-hold instrument by design.

Stated mandate

The fund is presented as a daily leveraged vehicle seeking twice the daily movement of a copper index.

Why people hold it

  1. 01Rare thing in the copper aisle: leverage on the metal. It aims for 2x the daily move of the SummerHaven Copper Index, the same futures benchmark behind the plain-vanilla copper ETF.sec.gov
  2. 02Built from cash-settled copper futures plus collateral, so the exposure is the copper price itself. No mine strikes, permit fights, or company earnings in the mix.money.usnews.com
  3. 03Trades like a stock: geared copper exposure from a brokerage account, with no futures account or margin maintenance.money.usnews.com

Worth knowing

  1. 01Charges 1.20% a year, above what the big equity-based geared funds run (QLD at 0.98%, FAS at 0.92%). Leverage on a niche commodity carries a niche price tag.
  2. 02Leverage resets daily. Hold longer than a day and compounding takes over: results can diverge from 2x the index move over that stretch, and choppy markets widen the gap.
  3. 03Small and thinly traded since its 2025 launch, so spreads can run wider than the household names of the leveraged aisle, and the track record is short.

CPXR Holdings

As of Sep 20, 2026, 6:39 AM
Asset class
Other
Holdings
—
Top-10 weight
100%
Largest holding
First American Government Obligations Fund 12/01/203125.6%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—First American Government Obligations Fund 12/01/203125.59%10,674,284$11M625
002—COPPER FUTURE May2720.87%51$9M1
003—COPPER FUTURE Mar2720.67%51$9M1
004—COPPER FUTURE Dec2620.36%51$8M3
005—Cash & Other7.77%3,242,680$3M674
006—MICRO COPPER Dec261.84%46$766K3
007—MICRO COPPER Mar271.54%38$642K1
008—MICRO COPPER May271.35%33$563K1

Showing 1–8 of 8 holdings

CPXR Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

CPXR$18,697
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. CPXR $18,697. SPY $11,723. Use the arrow keys to read each point.$8,798$14,114$19,431Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for CPXR. Periods over one year show the average yearly return.
PeriodCPXR
Year to date+30.2%
1 month+6.7%
3 months+11.9%
1 year+87.0%
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for CPXR
YearReturn barCPXR
2026 YTD+30.2%
2025+33.3%

Since listing, Jan 21, 2025

CPXR in the news

CPXR Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.19 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 23, 2025 $0.19. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Dec 23, 2025Dec 24, 2025$0.19

CPXR Risk

This fund targets a multiple of the daily move of its index and resets daily. Hold it longer than one reset and compounding makes the return diverge from that target. In choppy markets it can lose value even when the index ends flat.

How much the fund’s monthly returns vary, scaled to a year.
46.3%
Annualised · 19 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
0.88
vs 3-month T-bills · 19 months to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−47.9%
20 months · trough Aug 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.61
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

CPXR Cost

Expense ratio1.20%
  • The middle half of Leveraged Long (2x & Other) funds
  • Median 0.99%

68 of the 93 Leveraged Long (2x & Other) funds charge less.

CPXR costs $120.00 a year on $10,000. The median Leveraged Long (2x & Other) fund costs $99.00.