CARU vs. IBIC
CARU (Max Auto Industry 3X Leveraged ETN) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - CARU is a Leveraged Equities fund tracking the Prime Auto Industry Index - Benchmark TR Net (--300%), while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, CARU returned -22.74% vs 4.42% for IBIC. At a 0.02 correlation, their price movements are largely independent. CARU charges 0.95%/yr vs 0.10%/yr for IBIC.
Performance
CARU vs. IBIC - Performance Comparison
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Returns By Period
In the year-to-date period, CARU achieves a -32.53% return, which is significantly lower than IBIC's 2.43% return.
CARU
- 1D
- -3.02%
- 1M
- -9.49%
- YTD
- -32.53%
- 6M
- -39.00%
- 1Y
- -22.74%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIC
- 1D
- 0.04%
- 1M
- 0.12%
- YTD
- 2.43%
- 6M
- 2.57%
- 1Y
- 4.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CARU vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
CARU Max Auto Industry 3X Leveraged ETN | -32.53% | 7.29% | 23.44% | -27.22% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.43% | 4.96% | 5.25% | 2.17% |
Correlation
The correlation between CARU and IBIC is -0.18, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.18 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | 0.02 |
The correlation between CARU and IBIC shifts across timeframes, from -0.18 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
CARU vs. IBIC — Risk / Return Rank
CARU
IBIC
CARU vs. IBIC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Max Auto Industry 3X Leveraged ETN (CARU) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| CARU | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -5.31 | ||
| Sortino ratioReturn per unit of downside risk | -9.00 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 2.22 | -1.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.45 | 16.56 | -17.01 |
| Martin ratioReturn relative to average drawdown | -0.89 | 58.67 | -59.57 |
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Drawdowns
CARU vs. IBIC - Drawdown Comparison
The maximum CARU drawdown since its inception was -66.44%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for CARU and IBIC.
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Drawdown Indicators
| CARU | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -66.44% | -0.90% | -65.54% |
Max Drawdown (1Y)Largest decline over 1 year | -50.87% | -0.27% | -50.60% |
Current DrawdownCurrent decline from peak | -46.72% | -0.08% | -46.64% |
Average DrawdownAverage peak-to-trough decline | -35.96% | -0.10% | -35.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 25.49% | 0.08% | +25.41% |
Volatility
CARU vs. IBIC - Volatility Comparison
Max Auto Industry 3X Leveraged ETN (CARU) has a higher volatility of 24.02% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.17%. This indicates that CARU's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CARU | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 24.02% | 0.17% | +23.85% |
Volatility (6M)Calculated over the trailing 6-month period | 52.55% | 0.67% | +51.88% |
Volatility (1Y)Calculated over the trailing 1-year period | 69.98% | 0.89% | +69.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 80.42% | 1.56% | +78.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 80.42% | 1.56% | +78.86% |
CARU vs. IBIC - Expense Ratio Comparison
CARU has a 0.95% expense ratio, which is higher than IBIC's 0.10% expense ratio.
Dividends
CARU vs. IBIC - Dividend Comparison
CARU has not paid dividends to shareholders, while IBIC's dividend yield for the trailing twelve months is around 3.58%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
CARU Max Auto Industry 3X Leveraged ETN | 0.00% | 0.00% | 0.00% | 0.00% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.58% | 4.43% | 4.65% | 0.83% |
Frequently Asked Questions
CARU and IBIC have a correlation of -0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CARU has higher volatility (24.02%) compared to IBIC (0.17%). In terms of maximum drawdown, CARU dropped -66.44% vs IBIC's -0.90%.
On 1-year performance, IBIC leads with 4.42% vs -22.74% for CARU. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBIC has performed better with a 4.42% return vs -22.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 0.95% for CARU.
IBIC has the higher dividend yield at 3.58%, compared with 0.00% for CARU.
CARU is categorized as Leveraged Equities, while IBIC is Inflation-Protected Bonds. CARU tracks Prime Auto Industry Index - Benchmark TR Net (--300%), while IBIC tracks ICE 2026 Maturity US Inflation-Linked Treasury Index. They also come from different issuers: Max and iShares. Their fees differ too: 0.95% for CARU and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (4.99 vs -0.33), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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