ProShares Ultra Copper K-1 Free ETF (UCOP) Historical Volatility

Tracking UCOP historical volatility helps you see how much ProShares Ultra Copper K-1 Free ETF's stock price has actually moved over past periods, giving you a baseline to judge whether current option premiums are fair, cheap, or expensive. While implied volatility tells you what the market expects, ProShares Ultra Copper K-1 Free ETF's HV tells you what really happened. Use our scanner to monitor UCOP 30 day historical volatility alongside longer lookback windows and spot the moments when realized and implied diverge.

Historical volatility is the annualized standard deviation of an underlying's past returns, typically measured over rolling windows like 10, 20, 30, or 60 days. The UCOP 30 day historical volatility is one of the most widely watched readings because it balances responsiveness with stability. Comparing ProShares Ultra Copper K-1 Free ETF's HV to its implied volatility reveals the volatility risk premium — when IV sits well above HV, option sellers tend to have an edge; when HV runs hot relative to IV, buyers may be underpaying for movement.

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.

Sizing a long premium trade, modeling a covered call, or hunting volatility arbitrage all come back to one question: how much has the stock actually moved? Our scanner puts ProShares Ultra Copper K-1 Free ETF's historical volatility side-by-side with implied readings across every lookback window, so you can see exactly where UCOP HV is running hot, cold, or in line. Make the UCOP 30 day historical volatility — and every other window — work for your edge instead of against it.