CPII Alternatives & Similar ETFs

Ionic Inflation Protection ETF (CPII) belongs to the Inflation-Protected Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with CPII. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.

Cheapest Alternatives to CPII

CPII charges 0.74% annually. There are 37 ETFs in the Inflation-Protected Bonds category with lower expense ratios, going as low as 0.03%.

Symbol	Name	Expense Ratio	AUM	Inception
SCHP	Schwab U.S. TIPS ETF	0.03%	16.50B	Aug 2010	CPII vs SCHP
VTIP	Vanguard Short-Term Inflation-Protected Securities...	0.03%	70.50B	Oct 2012	CPII vs VTIP
VTP	Vanguard Total Inflation-Protected Securities ETF	0.05%	148.10M	Jul 2025	CPII vs VTP
STIP	iShares 0-5 Year TIPS Bond ETF	0.06%	15.79B	Dec 2010	CPII vs STIP
PBTP	Invesco PureBeta 0-5 Yr US TIPS ETF	0.07%	98.74M	Sep 2017	CPII vs PBTP

Best Risk-Adjusted Alternatives to CPII

CPII has a PortfoliosLab risk / return rank of 38. There are 17 ETFs in the Inflation-Protected Bonds category with higher risk-adjusted ranks, going as high as 98.

Symbol	Name	Risk / Return Rank	AUM	Inception
IBIC	iShares iBonds Oct 2026 Term TIPS ETF	98	79.20M	Sep 2023	CPII vs IBIC
RBIL	F/m Ultrashort Treasury Inflation-Protected Securi...	97	138.94M	Feb 2025	CPII vs RBIL
IBID	iShares iBonds Oct 2027 Term TIPS ETF	96	118.00M	Sep 2023	CPII vs IBID
STIP	iShares 0-5 Year TIPS Bond ETF	91	15.79B	Dec 2010	CPII vs STIP
VTIP	Vanguard Short-Term Inflation-Protected Securities...	91	70.50B	Oct 2012	CPII vs VTIP

Top Performing CPII Alternatives (YTD)

CPII is at 3.58% YTD. No ETFs in the Inflation-Protected Bonds category have higher YTD returns; the top-performing alternatives shown here go as high as 2.82%.

Symbol	Name	YTD Return	AUM	Inception
ICPI	iShares 0-1 Year TIPS Bond ETF	2.82%	13.05M	Nov 2025	CPII vs ICPI
RBIL	F/m Ultrashort Treasury Inflation-Protected Securi...	2.65%	138.94M	Feb 2025	CPII vs RBIL
IBIC	iShares iBonds Oct 2026 Term TIPS ETF	2.61%	79.20M	Sep 2023	CPII vs IBIC
IBID	iShares iBonds Oct 2027 Term TIPS ETF	2.35%	118.00M	Sep 2023	CPII vs IBID
RINF	ProShares Inflation Expectations ETF	2.12%	18.47M	Jan 2012	CPII vs RINF

Lowest Volatility Alternatives to CPII

CPII has 3.32% 1-year volatility. There are 19 ETFs in the Inflation-Protected Bonds category with lower 1-year volatility, going as low as 0.90%.

Symbol	Name	Volatility 1Y	AUM	Inception
IBIC	iShares iBonds Oct 2026 Term TIPS ETF	0.90%	79.20M	Sep 2023	CPII vs IBIC
RBIL	F/m Ultrashort Treasury Inflation-Protected Securi...	0.94%	138.94M	Feb 2025	CPII vs RBIL
ICPI	iShares 0-1 Year TIPS Bond ETF	0.95%	13.05M	Nov 2025	CPII vs ICPI
IBID	iShares iBonds Oct 2027 Term TIPS ETF	1.24%	118.00M	Sep 2023	CPII vs IBID
STIP	iShares 0-5 Year TIPS Bond ETF	1.54%	15.79B	Dec 2010	CPII vs STIP

Lowest Drawdown Alternatives to CPII

CPII has a 1-year max drawdown of -2.13%. There are 23 ETFs in the Inflation-Protected Bonds category with shallower 1-year drawdowns, going as shallow as -0.27%.

Symbol	Name	Max Drawdown 1Y	AUM	Inception
IBIC	iShares iBonds Oct 2026 Term TIPS ETF	-0.27%	79.20M	Sep 2023	CPII vs IBIC
IBID	iShares iBonds Oct 2027 Term TIPS ETF	-0.55%	118.00M	Sep 2023	CPII vs IBID
RBIL	F/m Ultrashort Treasury Inflation-Protected Securi...	-0.56%	138.94M	Feb 2025	CPII vs RBIL
LDRI	iShares iBonds 1-5 Year TIPS Ladder ETF	-0.60%	21.96M	Nov 2024	CPII vs LDRI
VTIP	Vanguard Short-Term Inflation-Protected Securities...	-0.71%	70.50B	Oct 2012	CPII vs VTIP

Often Compared With CPII

Investors most often compare CPII with RISR, BIL, XLP. These 20 comparison targets span 6 categories, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	AUM	Inception
RISR	FolioBeyond Alternative Income and Interest Rate H...	Nontraditional Bonds	33	4.09%	180.75M	Sep 2021	CPII vs RISR
BIL	SPDR Bloomberg 1-3 Month T-Bill ETF	Government Bonds, Ultrashort Bond	100	1.88%	46.75B	May 2007	CPII vs BIL
XLP	State Street Consumer Staples Select Sector SPDR E...	Consumer Staples Equities	20	10.27%	14.25B	Dec 1998	CPII vs XLP
TDTF	FlexShares iBoxx 5-Year Target Duration TIPS Index...	Inflation-Protected Bonds	40	0.96%	1.03B	Sep 2011	CPII vs TDTF
VIG	Vanguard Dividend Appreciation ETF	Dividend	66	9.40%	127.80B	Apr 2006	CPII vs VIG
IBIG	iShares iBonds Oct 2030 Term TIPS ETF	Inflation-Protected Bonds	50	1.17%	138.28M	Sep 2023	CPII vs IBIG
IBIF	iShares iBonds Oct 2029 Term TIPS ETF	Inflation-Protected Bonds	70	1.47%	107.80M	Sep 2023	CPII vs IBIF
TIP	iShares TIPS Bond ETF	Inflation-Protected Bonds	32	0.80%	14.47B	Dec 2003	CPII vs TIP
TIPX	SPDR Bloomberg Barclays 1-10 Year TIPS ETF	Inflation-Protected Bonds	51	1.17%	1.99B	May 2013	CPII vs TIPX
IBII	iShares iBonds Oct 2032 Term TIPS ETF	Inflation-Protected Bonds	39	1.03%	48.06M	Sep 2023	CPII vs IBII
IBIE	iShares iBonds Oct 2028 Term TIPS ETF	Inflation-Protected Bonds	90	1.78%	152.76M	Sep 2023	CPII vs IBIE
TIPZ	PIMCO Broad US TIPS Index ETF	Inflation-Protected Bonds	30	1.83%	85.27M	Sep 2009	CPII vs TIPZ
JCPI	JPMorgan Inflation Managed Bond ETF	Inflation-Protected Bonds	44	1.05%	850.84M	Mar 2010	CPII vs JCPI
IBIH	iShares iBonds Oct 2031 Term TIPS ETF	Inflation-Protected Bonds	43	1.16%	64.08M	Sep 2023	CPII vs IBIH
TIPB	Northern Trust 2035 Inflation-Linked Distributing ...	Inflation-Protected Bonds	—	1.38%	7.86M	Aug 2025	CPII vs TIPB
GTIP	Goldman Sachs Access Inflation Protected USD Bond ...	Inflation-Protected Bonds	34	0.86%	293.58M	Oct 2018	CPII vs GTIP
HYGI	iShares Inflation Hedged High Yield Bond ETF	Inflation-Protected Bonds	—	—	5.46M	Jun 2022	CPII vs HYGI
WIP	SPDR FTSE International Government Inflation-Prote...	Inflation-Protected Bonds	26	2.05%	492.30M	Mar 2008	CPII vs WIP
IVOL	Quadratic Interest Rate Volatility & Inflation Hed...	Inflation-Protected Bonds	2	-8.36%	275.91M	May 2019	CPII vs IVOL
IRVH	Global X Interest Rate Volatility & Inflation Hedg...	Inflation-Protected Bonds	5	-4.34%	1.34M	Jul 2022	CPII vs IRVH

Compare CPII with Any Fund or Stock

Compare CPII with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

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Diversifiers

Pair CPII with funds that move differently

Ionic Inflation Protection ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to CPII.

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Ionic Inflation Protection ETF (CPII) Alternatives