Data as of .
CPXR vs UCOP: which held to its multiple?
Over the days both have traded, CPXR finished 1.4 points from its stated multiple and UCOP 5.0.
ETFIQ Decay Resistance Score: CPXR scores higher
Did it keep up with its own daily multiple, compounded day by day?
A percentile among the 391 leveraged ETFs, long, over three months. It is a position in a set, not a rating, and neither end of it is a recommendation. All leveraged ETFs ranked by it · How it is computed
Performance, window by window
| Window | Total return | Multiple would give | Difference | |||
|---|---|---|---|---|---|---|
| CPXR | UCOP | CPXR | UCOP | CPXR | UCOP | |
| 1 month | −4.7% | −6.0% | −4.2% | −4.2% | −0.5 pts | −1.8 pts |
| 3 months | −3.3% | −6.9% | −1.9% | −1.9% | −1.4 pts | −5.0 pts |
| 6 months | +20.5% | not published | +25.0% | not published | −4.6 pts | not published |
| 1 year | +65.6% | not published | +72.1% | not published | −6.5 pts | not published |
| Since launch | +58.9% | +4.1% | +90.2% | +14.3% | −31.3 pts | −10.2 pts |
| CPXR USCF Daily Target 2X Copper Index ETF Aims to return twice the daily move of copper (CPER) | UCOP ProShares Ultra Copper K-1 Free ETF Aims to return twice the daily move of copper (CPER) | |
|---|---|---|
| Issuer | not established | ProShares |
| Sets out to return | +2x | +2x |
| On | CPER | CPER |
| Segment | commodity | commodity |
| Fund returned, 3 months | −3.3% | −6.9% |
| Underlying returned, 3 months | −0.9% | −0.9% |
| What the stated multiple implies, 3 months | −1.9% | −1.9% |
| Difference from stated, 3 months | −1.4 pts | −5.0 pts |
| Fund returned, 1 year or since launch | +65.6% | +4.1% |
| Difference from stated, over that window | −6.5 pts | −10.2 pts |
| Underlying volatility | 24% | 24% |
| Difference over the days both have traded | −1.4 pts | −5.0 pts |
| Expense ratio | 1.22% | 0.95% |
| Launched | Jan 22, 2025 | Apr 21, 2026 |
CPXR in plain words
Three months to Sep 11, 2026: CPXR returned −3.3% where its own daily promise gave −3.2%, 0.0 points short. Read the multiple against the whole window instead and +2 times CPER's −0.9% implies −1.9%, which makes CPXR look 1.4 points short. 1.4 of that is daily compounding, which happens to any +2 times fund over the same path, and the rest is the fund. CPXR aims to return +2 times CPER's move each day, then resets. Over one day it does that. Over longer, the daily results compound, so the total is not +2 times the period's move: in a market that falls and comes back it is reliably less, and in a steady run it can be more. CPER moved at 24% annualized over that window. That is what decides how far the two figures separate: the same fund on a calm underlying and a violent one is a different product.
UCOP in plain words
Three months to Sep 11, 2026: UCOP returned −6.9% where its own daily promise gave −3.2%, 3.6 points short. Read the multiple against the whole window instead and +2 times CPER's −0.9% implies −1.9%, which makes UCOP look 5.0 points short. UCOP aims to return +2 times CPER's move each day, then resets.
Questions people ask
- Which came closer to its stated multiple, CPXR or UCOP?
- Over the window to Sep 11, 2026, CPXR finished 1.4 points from what its multiple implies and UCOP finished 5.0 points from its own, so CPXR came closer. Neither figure predicts the next window: it depends on how much the underlying moves about.
- Are CPXR and UCOP levered on the same thing?
- Yes. Both are levered on copper, CPXR at +2 times and UCOP at +2 times the daily move.
- Which one decays faster, CPXR or UCOP?
- Decay follows how much the underlying moves about. Over this window CPXR’s moved at 24% annualized and UCOP’s at 24%, so CPXR has the rougher ride and, at the same multiple, loses more to compounding.
- Can I hold CPXR or UCOP for a year?
- Both reset every day, so the multiple in the name applies to a single day and the daily results compound. Over a year the total is not the multiple times the year’s move, and in a market that falls and comes back it is reliably less. ETFIQ makes no recommendation either way.
- Which is cheaper, CPXR or UCOP?
- CPXR charges 1.22% a year and UCOP charges 0.95%, so UCOP is cheaper. Fees come from each fund's prospectus.
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, CPXR against UCOP, data as of Sep 11, 2026. https://etfiq.com/compare/leverage/CPXR-UCOP Free to use with attribution; the underlying files are at Open data.