ProShares Trust (UCOP) ETF Holdings & Analysis

What UCOP does

UCOP is designed to achieve a daily return that is twice the performance of copper prices, before accounting for fees and operating costs. The fund benchmarks its performance against the United States Copper Index Fund (CPER), an ETF that invests in copper futures. Rather than directly holding physical copper or futures contracts, UCOP primarily uses swap agreements to establish its leveraged exposure. Its K-1 free structure offers a more straightforward tax reporting experience compared to various other commodity funds. Any remaining capital is typically invested in short-duration holdings such as US Treasury bills, repurchase agreements, or money market funds, which serve as collateral. The portfolio undergoes rebalancing daily to maintain approximately 200% exposure. This daily reset means that returns for periods longer than one day can vary substantially from twice the copper's movement, as daily compounding and market fluctuations impact results over time. Therefore, this strategy is generally better suited for short-term, tactical views on copper rather than long-term buy-and-hold allocations.

Fund profile

Top holdings

Geographic allocation

PortView Portfolio Insights

PortView analyzes how UCOP fits your actual portfolio — position weight, ETF overlap with your other funds, sector and geographic exposure, concentration, and how this fund contributes to your portfolio risk and return. Connect a portfolio to see your personalized figures; PortView never shows another user's private holdings.

Related securities

Related stocks

Frequently asked questions

What does UCOP track?

UCOP is the ProShares Trust, a Other ETF.

What is the expense ratio of UCOP?

Expense ratio data for UCOP is shown on the page when available from our data provider.

What are the largest holdings in UCOP?

Top holdings include Net Other Assets (Liabilities), United States Copper Index Fund (CPER) SWAP Citi, United States Copper Index Fund (CPER) SWAP BOA, United States Copper Index Fund (CPER) SWAP Nomura, United States Copper Index Fund (CPER) SWAP Goldman Sachs.

How can PortView analyze UCOP overlap with other ETFs?

PortView computes the holdings overlap between UCOP and the other ETFs and stocks you own, plus your combined sector and geographic exposure, so you can see true diversification.