Overview
| Ticker | |
|---|---|
| Intraday Indicative Value | CPER.IV |
| CUSIP | |
| ISIN | UUS9117181043 |
| Minimum Trade | 1 share |
| Marginable | YES |
| Options Traded | YES |
| Total Expense Ratio | |
|---|---|
| Trading Increment | $0.01 |
| Administrator | The Bank of New York Mellon |
| Distributor | ALPS Distributors, Inc. |
| Sponsor | United States Commodity Funds, LLC |
| Index Provider | SummerHaven Index Management |
Fund Summary
The United States Copper Index Fund (CPER) is an exchange-traded security. CPER is listed on the NYSE Arca.
The investment objective of CPER is for the daily changes in percentage terms of its shares' per share net asset value (NAV) to reflect the daily changes in percentage terms of the SummerHaven Copper Index Total ReturnSM, less CPER's expenses.
The SummerHaven Copper Index Total ReturnSM (“SCITR”) is an index designed to reflect the performance of the investment returns from a portfolio of copper futures contracts on the COMEX exchange. The SCITR is comprised of either one or three Eligible Copper Futures Contracts that are selected on a monthly basis based on quantitative formulas relating to the prices of the Eligible Copper Futures Contracts developed by SummerHaven Index Management LLC. The SCITR is owned and maintained by SummerHaven Index Management LLC and calculated and published by the NYSE Arca.
The SCITR is rules-based and is rebalanced monthly based on observable price signals. CPER is rebalanced each month to reflect these changes to the index.
The portfolio consists of copper futures contracts and, to a lesser extent, in order to comply with regulatory requirements, risk mitigation measures (including those that may be taken by CPER, CPER's futures commission merchants, counterparties or other market participants), liquidity requirements, or in view of market conditions, other copper-related forwards and swap contracts. These investments will be collateralized by cash, cash equivalents and US government obligations with remaining maturities of two years or less.
Copper is a metal that has global and widespread uses across multiple industries. Copper futures contracts are one of the most actively traded of the metals futures contracts and serve as the single commodity in the SCITR.
Below are the eligible commodities that may comprise the Index on a monthly basis:
CPER
For the month of August, the Benchmark Component Futures Contracts are:
COPPER FUTURE Dec25
COPPER FUTURE Mar26
COPPER FUTURE May26
Key Facts
| NAV | |
|---|---|
| NAV Change | |
| 4PM Bid/Ask Midpoint | |
| Last Trade Price |
| Premium Discount (%) | |
|---|---|
| Shares Outstanding | |
| Total Net Assets |
Performance
Historical NAV Performance download is not available at this time.
The performance data quoted above represents past performance. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted.
The Fund's NAV is calculated by dividing the value of the Fund's total assets less total liabilities by the number of shares outstanding. Share price returns are based on closing prices for the Fund and do not represent the returns an investor would receive if shares were traded at other times.
Beginning with the commodity selection process that commenced 12/31/2020, the SCITR was revised to be comprised of one or three Eligible Copper Futures Contracts, to reduce the number of Futures Contracts that are Eligible Copper Futures Contracts and to make certain other changes as described in CPER’s prospectus.
† CPER commenced operations on 11/15/2011.
Growth of $10,000 Investment
This chart shows how a hypothetical investment of $10,000 in the Fund at its inception would have performed versus the performance of the Fund’s benchmark. The values indicate what $10,000 would have grown to over the time period indicated. The hypothetical example does not represent the returns of any particular investment. You cannot invest directly in an index.
This chart shows how a hypothetical investment of $10,000 in the Fund at its inception would have performed versus an investment in the Fund’s benchmark futures contract(s). The values indicate what $10,000 would have grown to over the time period indicated. The hypothetical example does not represent the returns of any particular investment.
The performance data quoted above represents past performance. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted.
Average Daily Returns
The performance data quoted above represents past performance. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. Investment return and value of the Fund shares will fluctuate so that an investor's shares, when sold, may be worth more or less than their original cost. Performance may be lower or higher than performance data quoted.
Creation & Redemption
Authorized Purchasers pay a $350 fee for each order to create or redeem one or more Creation Baskets or Redemption Baskets consisting of 50,000 units. Authorized Purchasers are not required to sell any specific number or dollar amount of shares. The per share price of shares offered in Creation Baskets on any day after the effective date of the registration statement is the total NAV of CPER calculated as of the close of the core trading session on the NYSE Arca on that day divided by the number of issued and outstanding shares.
CPER receives or pays the proceeds from shares sold or redeemed within three business days after the trade date of the purchase or redemption. The amounts due from Authorized Purchasers are reflected in CPER's condensed statement of financial condition as receivable for shares sold, and amounts payable to Authorized Purchasers upon redemption are reflected as payable for shares redeemed.
