UCOP is designed to deliver twice the daily performance of copper prices before fees and expenses. The fund currently measures its target against the United States Copper Index Fund (CPER), an ETF that holds copper futures exposure, and primarily uses swap agreements to obtain leveraged positioning rather than owning copper or futures contracts directly. Its K-1 free structure is designed to offer a simpler tax reporting experience than some commodity funds. Remaining assets are generally invested in short-term holdings such as US T-bills, repurchase agreements, or money market funds to support collateral needs. The portfolio is rebalanced each trading day to maintain approximately 200% exposure, which means returns for periods longer than one day can differ significantly from 2x the move in copper because the fund resets daily and market swings can affect results over time. The strategy is generally more suitable for tactical views on copper than long-term buy-and-hold allocations.
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UCOP is designed to deliver twice the daily performance of copper prices before fees and expenses. The fund currently measures its target against the United States Copper Index Fund (CPER), an ETF that holds copper futures exposure, and primarily uses swap agreements to obtain leveraged positioning rather than owning copper or futures contracts directly. Its K-1 free structure is designed to offer a simpler tax reporting experience than some commodity funds. Remaining assets are generally invested in short-term holdings such as US T-bills, repurchase agreements, or money market funds to support collateral needs. The portfolio is rebalanced each trading day to maintain approximately 200% exposure, which means returns for periods longer than one day can differ significantly from 2x the move in copper because the fund resets daily and market swings can affect results over time. The strategy is generally more suitable for tactical views on copper than long-term buy-and-hold allocations.
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Daily adjusted close
UCOP is designed to deliver twice the daily performance of copper prices before fees and expenses. The fund currently measures its target against the United States Copper Index Fund (CPER), an ETF that holds copper futures exposure, and primarily uses swap agreements to obtain leveraged positioning rather than owning copper or futures contracts directly. Its K-1 free structure is designed to offer a simpler tax reporting experience than some commodity funds. Remaining assets are generally invested in short-term holdings such as US T-bills, repurchase agreements, or money market funds to support collateral needs. The portfolio is rebalanced each trading day to maintain approximately 200% exposure, which means returns for periods longer than one day can differ significantly from 2x the move in copper because the fund resets daily and market swings can affect results over time. The strategy is generally more suitable for tactical views on copper than long-term buy-and-hold allocations.