CPII vs. BTR

Last updated Aug 2, 2026

CPII (American Beacon Ionic Inflation Protection ETF) and BTR (Beacon Tactical Risk ETF) are both exchange-traded funds - CPII is a Inflation-Protected Bonds fund actively managed by American Beacon, while BTR is a Large Cap Blend Equities fund actively managed by American Beacon. Both are actively managed. Over the past 3 years, CPII returned 4.03%/yr vs 4.17%/yr for BTR. Their -0.17 correlation means they have often moved in opposite directions in the past. CPII charges 0.74%/yr vs 1.10%/yr for BTR.

Performance

CPII vs. BTR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Beacon Ionic Inflation Protection ETF (CPII) and Beacon Tactical Risk ETF (BTR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPII achieves a 2.87% return, which is significantly lower than BTR's 9.64% return.

CPII

• 1D: -0.16%
• 1M: -0.11%
• 6M: 1.90%
• YTD: 2.87%
• 1Y: 2.81%
• 3Y*: 4.03%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 3.54%

BTR

• 1D: 0.20%
• 1M: -0.14%
• 6M: 5.82%
• YTD: 9.64%
• 1Y: 17.44%
• 3Y*: 4.17%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.20%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BTR Beacon Tactical Risk ETF	$78.21K	$71.52K	$93.67K
CPII American Beacon Ionic Inflation Protection ETF	$7.03K	$4.83K	$26.18K

CPII vs. BTR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
CPII American Beacon Ionic Inflation Protection ETF	2.87%	2.76%	6.05%	1.69%
BTR Beacon Tactical Risk ETF	9.64%	-2.15%	14.45%	-6.78%

Correlation

The correlation between CPII and BTR is -0.28, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.28
Correlation (3Y) Balances recent behavior with more history.	-0.15
Correlation (All Time) Calculated using the full available price history since Apr 18, 2023	-0.17

The correlation between CPII and BTR shifts across timeframes, from -0.28 (1 year) to -0.15 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

CPII vs. BTR — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CPII

CPII Risk / Return Rank: 36
CPII Sharpe Ratio Rank: 36
CPII Sortino Ratio Rank: 34
CPII Omega Ratio Rank: 35
CPII Calmar Ratio Rank: 39
CPII Martin Ratio Rank: 34

BTR

BTR Risk / Return Rank: 74
BTR Sharpe Ratio Rank: 72
BTR Sortino Ratio Rank: 71
BTR Omega Ratio Rank: 72
BTR Calmar Ratio Rank: 74
BTR Martin Ratio Rank: 79

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CPII vs. BTR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Beacon Ionic Inflation Protection ETF (CPII) and Beacon Tactical Risk ETF (BTR). 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.

	CPII	BTR	Difference
Sharpe ratio: Return per unit of total volatility	0.89	1.66	-0.77
Sortino ratio: Return per unit of downside risk	1.29	2.33	-1.03
Omega ratio: Gain probability vs. loss probability	1.17	1.30	-0.14
Calmar ratio: Return relative to maximum drawdown	1.38	2.61	-1.24
Martin ratio: Return relative to average drawdown	3.32	10.17	-6.85

CPII vs. BTR - Sharpe Ratio Comparison

The current CPII Sharpe Ratio is 0.89, which is lower than the BTR Sharpe Ratio of 1.66. The chart below compares the historical Sharpe Ratios of CPII and BTR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CPII vs. BTR - Drawdown Comparison

The maximum CPII drawdown since its inception was -6.40%, smaller than the maximum BTR drawdown of -16.67%. Use the drawdown chart below to compare losses from any high point for CPII and BTR.

Drawdown Indicators

	CPII	BTR	Difference
Max Drawdown Largest peak-to-trough decline	-6.40%	-16.67%	+10.27%
Max Drawdown (1Y) Largest decline over 1 year	-2.13%	-6.23%	+4.10%
Max Drawdown (3Y) Largest decline over 3 years	-4.39%	-16.67%	+12.28%
Current Drawdown Current decline from peak	-1.74%	-0.67%	-1.07%
Average Drawdown Average peak-to-trough decline	-1.61%	-5.34%	+3.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	1.60%	-0.72%

Volatility

CPII vs. BTR - Volatility Comparison

The current volatility for American Beacon Ionic Inflation Protection ETF (CPII) is 0.95%, while Beacon Tactical Risk ETF (BTR) has a volatility of 2.20%. This indicates that CPII experiences smaller price fluctuations and is considered to be less risky than BTR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPII	BTR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.95%	2.20%	-1.25%
Volatility (6M) Calculated over the trailing 6-month period	2.95%	7.15%	-4.20%
Volatility (1Y) Calculated over the trailing 1-year period	3.34%	9.86%	-6.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.84%	10.80%	-4.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.84%	10.80%	-4.96%

CPII vs. BTR - Expense Ratio Comparison

CPII has a 0.74% expense ratio, which is lower than BTR's 1.10% expense ratio.

Dividends

CPII vs. BTR - Dividend Comparison

CPII's dividend yield for the trailing twelve months is around 4.65%, more than BTR's 1.17% yield.

Position	TTM	2025	2024	2023	2022
BTR Beacon Tactical Risk ETF	1.17%	1.29%	0.87%	0.91%	0.00%
CPII American Beacon Ionic Inflation Protection ETF	4.65%	4.20%	5.47%	5.86%	2.21%

Frequently Asked Questions

Can I hold both CPII and BTR in my portfolio?

CPII and BTR have a correlation of -0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPII or BTR?

BTR has higher volatility (2.20%) compared to CPII (0.95%). In terms of maximum drawdown, CPII dropped -6.40% vs BTR's -16.67%.

Which ETF is better, CPII or BTR?

On 3-year performance, BTR leads with 4.17% vs 4.03% for CPII. On fees, CPII is cheaper at 0.74% per year. On volatility, CPII has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CPII or BTR?

Over the 3-year period, BTR has performed better with a 4.17% return vs 4.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CPII or BTR?

CPII is cheaper with a 0.74% expense ratio, compared with 1.10% for BTR.

Which ETF pays a higher dividend yield, CPII or BTR?

CPII has the higher dividend yield at 4.65%, compared with 1.17% for BTR.

What is the main difference between CPII and BTR?

CPII is categorized as Inflation-Protected Bonds, while BTR is Large Cap Blend Equities. Their fees differ too: 0.74% for CPII and 1.10% for BTR.

Which has better risk-adjusted returns?

BTR currently has the higher Sharpe Ratio (1.66 vs 0.89), 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.