CPER’s worst drop since 2011 was 58%
United States Copper Index Fund (CPER) fell 58% from Feb 2012 to Feb 2015. It took 9.2 years from that peak to close at a new high, in May 2021. Over the same years the S&P 500 fell as much as 34%.
That drop ranks 80th deepest among the 203 ETFs PortfolioAutopsy tracks.
Drawdown from the last high, 2011 to now
How CPER held up in each crash
| Crash | Years | CPER | S&P 500 |
|---|---|---|---|
| Dot-com bust | 2000–02 | not trading yet | −47.5% |
| Financial crisis | 2007–09 | not trading yet | −55.2% |
| COVID crash | 2020 | −27.5% | −33.7% |
| 2022 rate shock | 2022 | −34.8% | −24.5% |
Each number is the deepest fall from a high inside that window, using daily prices with dividends reinvested.
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What was CPER’s maximum drawdown?
CPER’s deepest fall since 2011 was 57.9%, from its high on February 9, 2012 to its low on February 2, 2015. The figure uses daily prices with dividends reinvested.
How long did CPER take to recover?
9.2 years. CPER first closed above its Feb 2012 high again on May 6, 2021.
Was CPER riskier than the S&P 500?
Over the same years, CPER’s worst drop was 57.9% against 33.7% for the S&P 500 (SPY), and its worst 12 months were −44.6% against −19.7%.
Compare with
Daily adjusted closes from Yahoo Finance, November 16, 2011 through October 13, 2026, dividends reinvested. Historical facts, not a forecast and not investment advice.