# CPXR (USCF Daily Target 2X Copper Index ETF)

USCF · Leveraged ETFs · data as of Sep 30, 2026

Three months to Sep 30, 2026: CPXR returned +12.0% where its own daily promise gave +12.8%, 0.8 points short.

## Key facts

- CPXR, what CPER did: +6.9%, as of Sep 30, 2026.
- CPXR, what 2 times a day gives: +12.8%, as of Sep 30, 2026.
- CPXR, what the fund returned: +12.0%, as of Sep 30, 2026.
- CPXR, the fund itself cost: −0.8 pts, as of Sep 30, 2026.
- CPXR, net assets: $13m (SEC N-PORT, whole fund, as filed for Jun 30, 2026).
- CPXR, expense ratio: 1.22% (485BPOS XBRL, Apr 27, 2026).

## CPXR over each window to Sep 30, 2026

| Window | Fund | CPER | +2x the move | Difference | CPER moved about |
| --- | --- | --- | --- | --- | --- |
| 1 month | −2.3% | −0.6% | −1.1% | −1.2 pts | 28% |
| 3 months | +12.0% | +6.9% | +13.8% | −1.9 pts | 23% |
| 6 months | +27.3% | +15.8% | +31.7% | −4.4 pts | 26% |
| 1 year | +55.8% | +32.6% | +65.2% | −9.4 pts | 29% |
| Since launch | +62.5% | +47.3% | +94.7% | −32.1 pts | 33% |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Sets out to return | +2 times the daily move of CPER, reset daily | ETFIQ |
| Multiple a holder actually got over the window | +1.73 times, against +2 stated | ETFIQ |
| Underlying | CPER | ETFIQ |
| Segment | asset class, commodity | ETFIQ |
| Net assets | $13m | SEC N-PORT, whole fund, as filed for Jun 30, 2026 |
| Expense ratio | 1.22% | 485BPOS XBRL, Apr 27, 2026 |
| Launched | Jan 22, 2025 | ETFIQ |
| Underlying volatility over the window | 23% annualized | ETFIQ |

## Questions

### Did CPXR return +2 times CPER?

Over the window to Sep 30, 2026, CPER moved +6.9% and CPXR returned +12.0%. 2 times that move is +13.8%, so the fund came out 1.9 points short of it.

### Why does CPXR not return +2 times over a year?

Because it resets daily. CPXR aims at +2 times each day's move, and daily results compound. Over a run where the underlying falls and comes back, compounding a levered daily return leaves a holder behind what +2 times the period move would suggest; over a steady run in one direction it can leave them ahead. The longer the holding, and the more the underlying moves about, the further apart the two figures get.

### Which +2x CPER ETF tracked its stated multiple most closely?

2 issuers sell one. Over the days all of them have been trading, the table on this page ranks them by how far each finished from 2 times the underlying's move. ETFIQ does not rate funds; the order is the figure itself.


## Cite this page

ETFIQ, CPXR, data as of Sep 30, 2026. https://etfiq.com/funds/cpxr
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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