CPAI vs. IMCB

Last updated Jun 3, 2026

CPAI (Counterpoint Quantitative Equity ETF) and IMCB (iShares Morningstar Mid-Cap ETF) are both Mid Cap Blend Equities funds. CPAI is actively managed, while IMCB is passively managed. Over the past year, CPAI returned 49.88% vs 24.63% for IMCB. Their correlation of 0.80 suggests significant overlap in exposure. CPAI charges 0.75%/yr vs 0.04%/yr for IMCB.

Performance

CPAI vs. IMCB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Counterpoint Quantitative Equity ETF (CPAI) and iShares Morningstar Mid-Cap ETF (IMCB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPAI achieves a 29.80% return, which is significantly higher than IMCB's 15.00% return.

CPAI

• 1D: 0.66%
• 1M: 9.81%
• YTD: 29.80%
• 6M: 31.62%
• 1Y: 49.88%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IMCB

• 1D: 1.17%
• 1M: 4.93%
• YTD: 15.00%
• 6M: 15.90%
• 1Y: 24.63%
• 3Y*: 17.94%
• 5Y*: 9.00%
• 10Y*: 11.35%

*Multi-year figures are annualized to reflect compound growth (CAGR)

CPAI vs. IMCB - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CPAI Counterpoint Quantitative Equity ETF	29.80%	17.79%	28.37%	6.69%
IMCB iShares Morningstar Mid-Cap ETF	15.00%	10.25%	15.10%	8.35%

Correlation

The correlation between CPAI and IMCB is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (All Time) Calculated using the full available price history since Nov 30, 2023	0.80

The correlation between CPAI and IMCB has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.

CPAI vs. IMCB - Sectors Allocation Comparison

Sectors	CPAI	IMCB
Technology	45.4%	21.3%
Healthcare	16.0%	7.9%
Consumer Defensive	9.5%	5.1%
Communication Services	7.9%	2.3%
Industrials	5.7%	19.0%
Financial Services	4.3%	12.0%
Consumer Cyclical	4.2%	9.0%
Energy	3.7%	7.4%
Basic Materials	3.3%	5.3%
Real Estate	-	4.3%
Utilities	-	6.2%

Return for Risk

CPAI vs. IMCB — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CPAI

CPAI Risk / Return Rank: 82
CPAI Sharpe Ratio Rank: 84
CPAI Sortino Ratio Rank: 80
CPAI Omega Ratio Rank: 77
CPAI Calmar Ratio Rank: 86
CPAI Martin Ratio Rank: 84

IMCB

IMCB Risk / Return Rank: 59
IMCB Sharpe Ratio Rank: 56
IMCB Sortino Ratio Rank: 57
IMCB Omega Ratio Rank: 54
IMCB Calmar Ratio Rank: 61
IMCB Martin Ratio Rank: 66

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CPAI vs. IMCB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Counterpoint Quantitative Equity ETF (CPAI) and iShares Morningstar Mid-Cap ETF (IMCB). 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.

	CPAI	IMCB	Difference
Sharpe ratio Return per unit of total volatility	2.78	1.94	+0.84
Sortino ratio Return per unit of downside risk	3.62	2.75	+0.88
Omega ratio Gain probability vs. loss probability	1.47	1.34	+0.13
Calmar ratio Return relative to maximum drawdown	4.83	3.08	+1.75
Martin ratio Return relative to average drawdown	17.69	12.25	+5.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CPAI vs. IMCB - Sharpe Ratio Comparison

The current CPAI Sharpe Ratio is 2.78, which is higher than the IMCB Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of CPAI and IMCB, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	CPAI	IMCB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.78	1.94	+0.84
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.51	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.58	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.84	0.50	+1.33

Drawdowns

CPAI vs. IMCB - Drawdown Comparison

The maximum CPAI drawdown since its inception was -21.46%, smaller than the maximum IMCB drawdown of -58.80%. Use the drawdown chart below to compare losses from any high point for CPAI and IMCB.

Drawdown Indicators

	CPAI	IMCB	Difference
Max Drawdown Largest peak-to-trough decline	-21.46%	-58.80%	+37.34%
Max Drawdown (1Y) Largest decline over 1 year	-10.48%	-8.05%	-2.43%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.80%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.15%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-40.99%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.98%	-7.73%	+4.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.87%	2.03%	+0.84%

Volatility

CPAI vs. IMCB - Volatility Comparison

Counterpoint Quantitative Equity ETF (CPAI) has a higher volatility of 4.89% compared to iShares Morningstar Mid-Cap ETF (IMCB) at 3.37%. This indicates that CPAI's price experiences larger fluctuations and is considered to be riskier than IMCB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPAI	IMCB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.89%	3.37%	+1.52%
Volatility (6M) Calculated over the trailing 6-month period	14.37%	9.61%	+4.76%
Volatility (1Y) Calculated over the trailing 1-year period	18.03%	12.75%	+5.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.16%	17.57%	+1.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.16%	19.65%	-0.49%

CPAI vs. IMCB - Expense Ratio Comparison

CPAI has a 0.75% expense ratio, which is higher than IMCB's 0.04% expense ratio.

Dividends

CPAI vs. IMCB - Dividend Comparison

CPAI's dividend yield for the trailing twelve months is around 0.69%, less than IMCB's 1.21% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPAI Counterpoint Quantitative Equity ETF	0.69%	0.89%	0.41%	0.06%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IMCB iShares Morningstar Mid-Cap ETF	1.21%	1.42%	1.43%	1.55%	1.70%	1.08%	1.12%	1.32%	1.80%	1.31%	1.79%	1.47%

Frequently Asked Questions

Can I hold both CPAI and IMCB in my portfolio?

CPAI and IMCB have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPAI or IMCB?

CPAI has higher volatility (4.89%) compared to IMCB (3.37%). In terms of maximum drawdown, CPAI dropped -21.46% vs IMCB's -58.80%.

Which ETF is better, CPAI or IMCB?

On 1-year performance, CPAI leads with 49.88% vs 24.63% for IMCB. On fees, IMCB is cheaper at 0.04% per year. On volatility, IMCB has been the lower-risk option at 3.37%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CPAI or IMCB?

Over the 1-year period, CPAI has performed better with a 49.88% return vs 24.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CPAI or IMCB?

IMCB is cheaper with a 0.04% expense ratio, compared with 0.75% for CPAI.

Which ETF pays a higher dividend yield, CPAI or IMCB?

IMCB has the higher dividend yield at 1.21%, compared with 0.69% for CPAI.

What is the main difference between CPAI and IMCB?

They also come from different issuers: Counterpoint Funds and iShares. Their fees differ too: 0.75% for CPAI and 0.04% for IMCB.

Which has better risk-adjusted returns?

CPAI currently has the higher Sharpe Ratio (2.78 vs 1.94), 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.