US Copper Index Fund

No one takes delivery of the copper in CPER; the fund tracks the price of a metal that wires the economy through futures instead. It holds a rules-based basket of COMEX copper futures selected by SummerHaven's model, which reads the shape of the futures curve to decide which contract months to own and cut the drag from rolling expiring positions. It follows the SummerHaven Copper Index Total Return, backed by Treasury bills that earn interest on the collateral. Because it uses futures rather than physical metal or mining shares, buyers get exposure to the copper price itself, a common proxy for industrial demand, electrification and construction activity. The trade-off is a 0.97 percent expense ratio and the usual quirks of holding commodity futures. USCF launched it in 2011 for investors who want copper in a brokerage account.

On MyRWA, CPER trades tokenized across 1 on-chain venue - see the listings below.