CPII vs. LQDI
CPII (Ionic Inflation Protection ETF) and LQDI (iShares Inflation Hedged Corporate Bond ETF) are both Inflation-Protected Bonds funds. Both are actively managed. Over the past 3 years, CPII returned 5.05%/yr vs 5.84%/yr for LQDI. At a correlation of -0.26, they often move in opposite directions. CPII charges 0.74%/yr vs 0.18%/yr for LQDI.
Performance
CPII vs. LQDI - Performance Comparison
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Returns By Period
In the year-to-date period, CPII achieves a 4.27% return, which is significantly higher than LQDI's 1.72% return.
CPII
- 1D
- 0.13%
- 1M
- 0.26%
- YTD
- 4.27%
- 6M
- 4.13%
- 1Y
- 4.42%
- 3Y*
- 5.05%
- 5Y*
- —
- 10Y*
- —
LQDI
- 1D
- -0.39%
- 1M
- 0.66%
- YTD
- 1.72%
- 6M
- 1.56%
- 1Y
- 7.30%
- 3Y*
- 5.84%
- 5Y*
- 1.93%
- 10Y*
- —
CPII vs. LQDI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CPII Ionic Inflation Protection ETF | 4.27% | 2.76% | 6.05% | 1.79% | 1.22% |
LQDI iShares Inflation Hedged Corporate Bond ETF | 1.72% | 8.84% | 1.48% | 8.85% | -1.61% |
Correlation
The correlation between CPII and LQDI is -0.15, 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 | -0.15 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.36 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022 | -0.26 |
The correlation between CPII and LQDI shifts across timeframes, from -0.36 (3 years) to -0.15 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
CPII vs. LQDI — Risk / Return Rank
CPII
LQDI
CPII vs. LQDI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ionic Inflation Protection ETF (CPII) and iShares Inflation Hedged Corporate Bond ETF (LQDI). 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.
| CPII | LQDI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.20 | ||
| Sortino ratioReturn per unit of downside risk | -0.33 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.26 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.73 | 2.54 | +0.19 |
| Martin ratioReturn relative to average drawdown | 6.37 | 7.71 | -1.34 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CPII | LQDI | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.28 | 1.47 | -0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.24 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.69 | 0.40 | +0.29 |
Drawdowns
CPII vs. LQDI - Drawdown Comparison
The maximum CPII drawdown since its inception was -6.40%, smaller than the maximum LQDI drawdown of -28.99%. Use the drawdown chart below to compare losses from any high point for CPII and LQDI.
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Drawdown Indicators
| CPII | LQDI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.40% | -28.99% | +22.59% |
Max Drawdown (1Y)Largest decline over 1 year | -1.62% | -2.88% | +1.26% |
Max Drawdown (3Y)Largest decline over 3 years | -4.39% | -6.27% | +1.88% |
Max Drawdown (5Y)Largest decline over 5 years | — | -20.67% | — |
Current DrawdownCurrent decline from peak | -0.40% | -0.39% | -0.01% |
Average DrawdownAverage peak-to-trough decline | -1.62% | -5.25% | +3.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.70% | 0.95% | -0.25% |
Volatility
CPII vs. LQDI - Volatility Comparison
Ionic Inflation Protection ETF (CPII) and iShares Inflation Hedged Corporate Bond ETF (LQDI) have volatilities of 1.14% and 1.20%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CPII | LQDI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 1.20% | -0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 3.44% | -0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.48% | 4.97% | -1.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.93% | 8.18% | -2.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.93% | 10.84% | -4.91% |
CPII vs. LQDI - Expense Ratio Comparison
CPII has a 0.74% expense ratio, which is higher than LQDI's 0.18% expense ratio.
Dividends
CPII vs. LQDI - Dividend Comparison
CPII's dividend yield for the trailing twelve months is around 4.05%, less than LQDI's 4.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
CPII Ionic Inflation Protection ETF | 4.05% | 4.20% | 5.47% | 5.86% | 2.21% | 0.00% | 0.00% | 0.00% | 0.00% |
LQDI iShares Inflation Hedged Corporate Bond ETF | 4.58% | 4.46% | 4.65% | 3.98% | 3.27% | 2.42% | 2.34% | 3.26% | 2.53% |
Frequently Asked Questions
CPII and LQDI have a correlation of -0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LQDI has higher volatility (1.20%) compared to CPII (1.14%). In terms of maximum drawdown, CPII dropped -6.40% vs LQDI's -28.99%.
On 3-year performance, LQDI leads with 5.84% vs 5.05% for CPII. On fees, LQDI is cheaper at 0.18% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, LQDI has performed better with a 5.84% return vs 5.05%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LQDI is cheaper with a 0.18% expense ratio, compared with 0.74% for CPII.
LQDI has the higher dividend yield at 4.58%, compared with 4.05% for CPII.
They also come from different issuers: Ionic and iShares. Their fees differ too: 0.74% for CPII and 0.18% for LQDI.
LQDI currently has the higher Sharpe Ratio (1.47 vs 1.28), 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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