- ISIN
- US8863645532
- Issuer
- Ionic
- Inception Date
- Jun 28, 2022
- Region
- North America (U.S.)
- Category
- Inflation-Protected Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $10M
Share Price Chart
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Performance
CPII Performance Chart
Ionic Inflation Protection ETF (CPII) is up 3.0% since the beginning of the year. CPII is currently trading at $19 per share.
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Returns By Period
Ionic Inflation Protection ETF (CPII) has returned 2.97% so far this year and 3.20% over the past 12 months.
Ionic Inflation Protection ETF
- 1D
- -0.13%
- 1M
- -0.73%
- YTD
- 2.97%
- 6M
- 2.83%
- 1Y
- 3.20%
- 3Y*
- 4.60%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
CPII Monthly Returns History
Based on dividend-adjusted daily data since Jun 29, 2022, CPII's average daily return is +0.02%, while the average monthly return is +0.30%. At this rate, an investment would double in approximately 19.3 years.
Historically, 53% of months were positive and 47% were negative. The best month was Oct 2022 with a return of +3.1%, while the worst month was Jan 2023 at -2.6%. The longest winning streak lasted 5 consecutive months, and the longest losing streak was 4 months.
On a daily basis, CPII closed higher 52% of trading days. The best single day was Jan 10, 2024 with a return of +3.6%, while the worst single day was Jan 11, 2024 at -2.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.95% | -0.47% | 1.19% | 1.63% | 0.55% | -0.88% | 2.97% | ||||||
| 2025 | 1.25% | 0.11% | 0.95% | 0.51% | -0.52% | -0.15% | 0.54% | 1.09% | -0.32% | -0.48% | -0.21% | -0.03% | 2.76% |
| 2024 | 1.23% | 1.61% | -0.06% | 2.82% | -1.00% | -0.31% | -1.26% | -0.21% | 0.45% | 1.89% | -0.16% | 0.97% | 6.05% |
| 2023 | -2.59% | 2.58% | 0.36% | -0.69% | -0.21% | 0.76% | 1.30% | -0.13% | 2.07% | 1.48% | -2.28% | -0.74% | 1.79% |
| 2022 | -0.07% | 1.50% | 0.47% | -1.74% | 3.11% | -2.17% | 0.05% | 1.04% |
Benchmark Metrics
Ionic Inflation Protection ETF has an annualized alpha of 3.72%, beta of 0.01, and R2 of 0.00 versus S&P 500 Index. Calculated based on daily prices since June 29, 2022.
- This ETF captured 1.74% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -25.67%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.01 may look defensive, but with R2 of 0.00 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.00 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.72%
- Beta
- 0.01
- R²
- 0.00
- Upside Capture
- 1.74%
- Downside Capture
- -25.67%
Expense Ratio
CPII has an expense ratio of 0.74%, placing it in the medium range.
Return for Risk
Risk / Return Rank
CPII ranks 30 for risk / return — below 30% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Ionic Inflation Protection ETF (CPII) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| CPII | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.09 | ||
| Sortino ratioReturn per unit of downside risk | -1.40 | ||
| Omega ratioGain probability vs. loss probability | 1.18 | 1.37 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.96 | 2.78 | -0.82 |
| Martin ratioReturn relative to average drawdown | 4.37 | 12.44 | -8.07 |
Dividends
Dividend History
Ionic Inflation Protection ETF provided a 4.10% dividend yield over the last twelve months, with an annual payout of $0.78 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Dividend | $0.78 | $0.79 | $1.05 | $1.12 | $0.44 |
Dividend yield | 4.10% | 4.20% | 5.47% | 5.86% | 2.21% |
Monthly Dividends
The table displays the monthly dividend distributions for Ionic Inflation Protection ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.01 | $0.08 | $0.10 | $0.19 | $0.37 | ||||||
| 2025 | $0.00 | $0.01 | $0.02 | $0.12 | $0.18 | $0.06 | $0.07 | $0.05 | $0.08 | $0.04 | $0.07 | $0.11 | $0.79 |
| 2024 | $0.00 | $0.02 | $0.00 | $0.10 | $0.13 | $0.13 | $0.01 | $0.01 | $0.01 | $0.05 | $0.05 | $0.53 | $1.05 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.13 | $0.11 | $0.07 | $0.02 | $0.02 | $0.05 | $0.05 | $0.09 | $0.57 | $1.12 |
| 2022 | $0.14 | $0.23 | $0.00 | $0.00 | $0.07 | $0.44 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Ionic Inflation Protection ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Ionic Inflation Protection ETF was 6.40%, occurring on Jan 18, 2023. Recovery took 172 trading sessions.
The current Ionic Inflation Protection ETF drawdown is 1.64%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2023 pullback2023 | -6.40%Jan 2023 | 2mo 25d | 8mo 10d | 11mo 5dOct 2022 - Sep 2023 |
2023 pullback2023 | -4.39%Dec 2023 | 2mo 9d | 3mo 14d | 5mo 23dOct 2023 - Apr 2024 |
Bear market2022 | -4.18%Oct 2022 | 1mo 9d | 17d | 1mo 26dAug 2022 - Oct 2022 |
2024 pullback2024 | -4.00%Sep 2024 | 4mo 14d | 1mo 27d | 6mo 11dApr 2024 - Nov 2024 |
2026 pullback2026 | -1.64%Jun 2026 | 1mo 4d | — | 1mo 5dMay 2026 - now |
Drawdown Indicators
| CPII | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.40% | -56.78% | +50.38% |
Max Drawdown (1Y)Largest decline over 1 year | -1.64% | -9.10% | +7.46% |
Max Drawdown (3Y)Largest decline over 3 years | -4.39% | -18.90% | +14.51% |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.64% | -1.80% | +0.16% |
Average DrawdownAverage peak-to-trough decline | -1.61% | -10.71% | +9.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 2.03% | -1.30% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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