U.S. Commodity Funds Cuts Expenses On Copper Fund (CPER, JJC)
United States Commodity Funds, the ETF issuer behind the popular U.S. Oil Fund (NYSE: USO) and the U.S. Natural Gas Fund (NYSE: UNG), announced that it will pare the expense ratio on the U.S. Copper Fund (NYSE: CPER) to 0.65% from 0.95%.
That will make CPER the cheapest of the three copper exchange-traded products on the market, according to ETFdb. The iPath DJ-UBS Copper TR Sub-Index ETN (NYSE: JJC) and the iPath Pure Beta Copper ETN (NYSE: CUPM) both charge 0.75% per year.
CPER, which debuted in late 2011, had almost $2.4 million in assets under management at the close of markets on May 30. The fund tracks the SummerHaven Copper Index and its holdings are currently comprised of July and September copper futures.
CPER is down almost 3% year-to-date. Average daily volume for CPER is just 690 shares.
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