CPII vs. RBIL

Last updated Apr 2, 2026

Compare and contrast key facts about Ionic Inflation Protection ETF (CPII) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL).

CPII and RBIL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. CPII is an actively managed fund by Ionic. It was launched on Jun 28, 2022. RBIL is a passively managed fund by F/m that tracks the performance of the Bloomberg US Ultrashort TIPS 1-13 Months Index. It was launched on Feb 24, 2025.

Performance

CPII vs. RBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ionic Inflation Protection ETF (CPII) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). The values are adjusted to include any dividend payments, if applicable.

CPII vs. RBIL - Yearly Performance Comparison

	2026 (YTD)	2025
CPII Ionic Inflation Protection ETF	1.57%	1.70%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	1.49%	2.91%

Returns By Period

In the year-to-date period, CPII achieves a 1.57% return, which is significantly higher than RBIL's 1.49% return.

CPII

• 1D: -0.10%
• 1M: 1.16%
• YTD: 1.57%
• 6M: 0.74%
• 1Y: 2.18%
• 3Y*: 3.96%
• 5Y*: —
• 10Y*: —

RBIL

• 1D: -0.16%
• 1M: 0.83%
• YTD: 1.49%
• 6M: 2.00%
• 1Y: 3.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CPII vs. RBIL - Expense Ratio Comparison

CPII has a 0.74% expense ratio, which is higher than RBIL's 0.17% expense ratio.

CPII

Ionic Inflation Protection ETF

RBIL

F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF

Return for Risk

CPII vs. RBIL — Risk / Return Rank

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

CPII

CPII Risk / Return Rank: 30
CPII Sharpe Ratio Rank: 28
CPII Sortino Ratio Rank: 26
CPII Omega Ratio Rank: 25
CPII Calmar Ratio Rank: 43
CPII Martin Ratio Rank: 29

RBIL

RBIL Risk / Return Rank: 98
RBIL Sharpe Ratio Rank: 98
RBIL Sortino Ratio Rank: 98
RBIL Omega Ratio Rank: 98
RBIL Calmar Ratio Rank: 98
RBIL Martin Ratio Rank: 98

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.

CPII vs. RBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ionic Inflation Protection ETF (CPII) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). 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	RBIL	Difference
Sharpe ratio Return per unit of total volatility	0.56	3.46	-2.90
Sortino ratio Return per unit of downside risk	0.82	5.46	-4.65
Omega ratio Gain probability vs. loss probability	1.11	1.90	-0.79
Calmar ratio Return relative to maximum drawdown	1.23	7.45	-6.22
Martin ratio Return relative to average drawdown	2.72	32.50	-29.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CPII vs. RBIL - Sharpe Ratio Comparison

The current CPII Sharpe Ratio is 0.56, which is lower than the RBIL Sharpe Ratio of 3.46. The chart below compares the historical Sharpe Ratios of CPII and RBIL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	CPII	RBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.56	3.46	-2.90
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	3.89	-3.30

Correlation

The correlation between CPII and RBIL is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

CPII vs. RBIL - Dividend Comparison

CPII's dividend yield for the trailing twelve months is around 3.41%, less than RBIL's 4.43% yield.

	TTM	2025	2024	2023	2022
CPII Ionic Inflation Protection ETF	3.41%	4.20%	5.47%	5.86%	2.21%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	4.43%	3.65%	0.00%	0.00%	0.00%

Drawdowns

CPII vs. RBIL - Drawdown Comparison

The maximum CPII drawdown since its inception was -6.40%, which is greater than RBIL's maximum drawdown of -0.50%. Use the drawdown chart below to compare losses from any high point for CPII and RBIL.

Drawdown Indicators

	CPII	RBIL	Difference
Max Drawdown Largest peak-to-trough decline	-6.40%	-0.50%	-5.90%
Max Drawdown (1Y) Largest decline over 1 year	-1.62%	-0.50%	-1.12%
Current Drawdown Current decline from peak	-1.16%	-0.24%	-0.92%
Average Drawdown Average peak-to-trough decline	-1.67%	-0.06%	-1.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.73%	0.11%	+0.62%

Volatility

CPII vs. RBIL - Volatility Comparison

Ionic Inflation Protection ETF (CPII) has a higher volatility of 2.02% compared to F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL) at 0.61%. This indicates that CPII's price experiences larger fluctuations and is considered to be riskier than RBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPII	RBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.02%	0.61%	+1.41%
Volatility (6M) Calculated over the trailing 6-month period	2.44%	0.69%	+1.75%
Volatility (1Y) Calculated over the trailing 1-year period	3.92%	1.05%	+2.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.01%	1.04%	+4.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.01%	1.04%	+4.97%