CPII vs. EDOW
CPII (Ionic Inflation Protection ETF) and EDOW (First Trust Dow 30 Equal Weight ETF) are both exchange-traded funds - CPII is a Inflation-Protected Bonds fund actively managed by Ionic, while EDOW is a Large Cap Blend Equities fund tracking the Dow Jones Industrail Average Equal Weight TR. CPII is actively managed, while EDOW is passively managed. Over the past 3 years, CPII returned 4.53%/yr vs 15.78%/yr for EDOW. At a correlation of -0.03, they often move in opposite directions. CPII charges 0.74%/yr vs 0.50%/yr for EDOW.
Performance
CPII vs. EDOW - Performance Comparison
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Returns By Period
In the year-to-date period, CPII achieves a 2.76% return, which is significantly lower than EDOW's 6.54% return.
CPII
- 1D
- -0.21%
- 1M
- -0.94%
- YTD
- 2.76%
- 6M
- 2.75%
- 1Y
- 2.83%
- 3Y*
- 4.53%
- 5Y*
- —
- 10Y*
- —
EDOW
- 1D
- 0.48%
- 1M
- 0.20%
- YTD
- 6.54%
- 6M
- 6.27%
- 1Y
- 19.50%
- 3Y*
- 15.78%
- 5Y*
- 9.46%
- 10Y*
- —
CPII vs. EDOW - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CPII Ionic Inflation Protection ETF | 2.76% | 2.76% | 6.05% | 1.79% | 1.04% |
EDOW First Trust Dow 30 Equal Weight ETF | 6.54% | 15.46% | 13.17% | 15.47% | 6.12% |
Correlation
The correlation between CPII and EDOW is -0.33, 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 | -0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.13 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022 | -0.03 |
Over the past year, the inverse relationship between CPII and EDOW has strengthened: their correlation has moved from -0.03 to -0.33, meaning they now move in opposite directions more often than their long-term average.
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Return for Risk
CPII vs. EDOW — Risk / Return Rank
CPII
EDOW
CPII vs. EDOW - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ionic Inflation Protection ETF (CPII) and First Trust Dow 30 Equal Weight ETF (EDOW). 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 | EDOW | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.00 | ||
| Sortino ratioReturn per unit of downside risk | -1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.32 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.54 | 2.24 | -0.71 |
| Martin ratioReturn relative to average drawdown | 3.85 | 8.33 | -4.49 |
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Drawdowns
CPII vs. EDOW - Drawdown Comparison
The maximum CPII drawdown since its inception was -6.40%, smaller than the maximum EDOW drawdown of -33.72%. Use the drawdown chart below to compare losses from any high point for CPII and EDOW.
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Drawdown Indicators
| CPII | EDOW | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.40% | -33.72% | +27.32% |
Max Drawdown (1Y)Largest decline over 1 year | -1.85% | -8.73% | +6.88% |
Max Drawdown (3Y)Largest decline over 3 years | -4.39% | -15.51% | +11.12% |
Max Drawdown (5Y)Largest decline over 5 years | — | -21.98% | — |
Current DrawdownCurrent decline from peak | -1.85% | -1.08% | -0.77% |
Average DrawdownAverage peak-to-trough decline | -1.61% | -4.06% | +2.45% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.74% | 2.35% | -1.61% |
Volatility
CPII vs. EDOW - Volatility Comparison
The current volatility for Ionic Inflation Protection ETF (CPII) is 0.75%, while First Trust Dow 30 Equal Weight ETF (EDOW) has a volatility of 3.34%. This indicates that CPII experiences smaller price fluctuations and is considered to be less risky than EDOW based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CPII | EDOW | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 3.34% | -2.59% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 8.20% | -5.38% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.42% | 10.74% | -7.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.90% | 14.22% | -8.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.90% | 17.71% | -11.81% |
CPII vs. EDOW - Expense Ratio Comparison
CPII has a 0.74% expense ratio, which is higher than EDOW's 0.50% expense ratio.
Dividends
CPII vs. EDOW - Dividend Comparison
CPII's dividend yield for the trailing twelve months is around 4.11%, more than EDOW's 1.23% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
CPII Ionic Inflation Protection ETF | 4.11% | 4.20% | 5.47% | 5.86% | 2.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
EDOW First Trust Dow 30 Equal Weight ETF | 1.23% | 1.31% | 1.65% | 1.93% | 1.91% | 1.52% | 1.84% | 1.88% | 1.82% | 0.75% |
Frequently Asked Questions
CPII and EDOW have a correlation of -0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EDOW has higher volatility (3.34%) compared to CPII (0.75%). In terms of maximum drawdown, CPII dropped -6.40% vs EDOW's -33.72%.
On 3-year performance, EDOW leads with 15.78% vs 4.53% for CPII. On fees, EDOW is cheaper at 0.50% per year. On volatility, CPII has been the lower-risk option at 0.75%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, EDOW has performed better with a 15.78% return vs 4.53%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
EDOW is cheaper with a 0.50% expense ratio, compared with 0.74% for CPII.
CPII has the higher dividend yield at 4.11%, compared with 1.23% for EDOW.
CPII is categorized as Inflation-Protected Bonds, while EDOW is Large Cap Blend Equities. They also come from different issuers: Ionic and First Trust. Their fees differ too: 0.74% for CPII and 0.50% for EDOW.
EDOW currently has the higher Sharpe Ratio (1.83 vs 0.83), 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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