CPII vs. RISR

Last updated Jun 23, 2026

CPII (Ionic Inflation Protection ETF) and RISR (FolioBeyond Alternative Income and Interest Rate Hedge ETF) are both exchange-traded funds - CPII is a Inflation-Protected Bonds fund actively managed by Ionic, while RISR is a Nontraditional Bonds fund actively managed by FolioBeyond. Both are actively managed. Over the past 3 years, CPII returned 4.60%/yr vs 11.28%/yr for RISR. At a 0.32 correlation, their price movements are largely independent. CPII charges 0.74%/yr vs 1.13%/yr for RISR.

Performance

CPII vs. RISR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Ionic Inflation Protection ETF (CPII) and FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with CPII having a 2.97% return and RISR slightly higher at 2.99%.

CPII

• 1D: -0.13%
• 1M: -0.73%
• YTD: 2.97%
• 6M: 2.83%
• 1Y: 3.20%
• 3Y*: 4.60%
• 5Y*: —
• 10Y*: —

RISR

• 1D: 0.22%
• 1M: 0.01%
• YTD: 2.99%
• 6M: 3.27%
• 1Y: 5.10%
• 3Y*: 11.28%
• 5Y*: —
• 10Y*: —

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

CPII vs. RISR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
CPII Ionic Inflation Protection ETF	2.97%	2.76%	6.05%	1.79%	1.04%
RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF	2.99%	4.63%	24.20%	7.02%	-0.30%

Correlation

The correlation between CPII and RISR is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022	0.32

The correlation between CPII and RISR shifts across timeframes, from 0.13 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CPII vs. RISR — 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: 27
CPII Sortino Ratio Rank: 26
CPII Omega Ratio Rank: 27
CPII Calmar Ratio Rank: 40
CPII Martin Ratio Rank: 32

RISR

RISR Risk / Return Rank: 30
RISR Sharpe Ratio Rank: 27
RISR Sortino Ratio Rank: 26
RISR Omega Ratio Rank: 25
RISR Calmar Ratio Rank: 40
RISR Martin Ratio Rank: 33

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. RISR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Ionic Inflation Protection ETF (CPII) and FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR). 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	RISR	Difference
Sharpe ratio: Return per unit of total volatility	0.94	0.95	-0.01
Sortino ratio: Return per unit of downside risk	1.36	1.38	-0.02
Omega ratio: Gain probability vs. loss probability	1.18	1.17	+0.01
Calmar ratio: Return relative to maximum drawdown	1.96	1.96	0.00
Martin ratio: Return relative to average drawdown	4.37	4.64	-0.27

CPII vs. RISR - Sharpe Ratio Comparison

The current CPII Sharpe Ratio is 0.94, which is comparable to the RISR Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of CPII and RISR, 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. RISR - Drawdown Comparison

The maximum CPII drawdown since its inception was -6.40%, smaller than the maximum RISR drawdown of -14.31%. Use the drawdown chart below to compare losses from any high point for CPII and RISR.

Drawdown Indicators

	CPII	RISR	Difference
Max Drawdown Largest peak-to-trough decline	-6.40%	-14.31%	+7.91%
Max Drawdown (1Y) Largest decline over 1 year	-1.64%	-2.61%	+0.97%
Max Drawdown (3Y) Largest decline over 3 years	-4.39%	-8.07%	+3.68%
Current Drawdown Current decline from peak	-1.64%	-0.51%	-1.13%
Average Drawdown Average peak-to-trough decline	-1.61%	-2.17%	+0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.73%	1.10%	-0.37%

Volatility

CPII vs. RISR - Volatility Comparison

The current volatility for Ionic Inflation Protection ETF (CPII) is 0.76%, while FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR) has a volatility of 1.23%. This indicates that CPII experiences smaller price fluctuations and is considered to be less risky than RISR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPII	RISR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	1.23%	-0.47%
Volatility (6M) Calculated over the trailing 6-month period	2.82%	3.95%	-1.13%
Volatility (1Y) Calculated over the trailing 1-year period	3.42%	5.40%	-1.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.90%	11.79%	-5.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.90%	11.79%	-5.89%

CPII vs. RISR - Expense Ratio Comparison

CPII has a 0.74% expense ratio, which is lower than RISR's 1.13% expense ratio.

Dividends

CPII vs. RISR - Dividend Comparison

CPII's dividend yield for the trailing twelve months is around 4.10%, less than RISR's 5.92% yield.

Position	TTM	2025	2024	2023	2022	2021
CPII Ionic Inflation Protection ETF	4.10%	4.20%	5.47%	5.86%	2.21%	0.00%
RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF	5.92%	5.95%	5.67%	7.96%	4.26%	0.30%

Frequently Asked Questions

Can I hold both CPII and RISR in my portfolio?

CPII and RISR have a correlation of 0.13, 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 RISR?

RISR has higher volatility (1.23%) compared to CPII (0.76%). In terms of maximum drawdown, CPII dropped -6.40% vs RISR's -14.31%.

Which ETF is better, CPII or RISR?

On 3-year performance, RISR leads with 11.28% vs 4.60% for CPII. On fees, CPII is cheaper at 0.74% per year. On volatility, CPII has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CPII or RISR?

Over the 3-year period, RISR has performed better with a 11.28% return vs 4.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CPII or RISR?

CPII is cheaper with a 0.74% expense ratio, compared with 1.13% for RISR.

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

RISR has the higher dividend yield at 5.92%, compared with 4.10% for CPII.

What is the main difference between CPII and RISR?

CPII is categorized as Inflation-Protected Bonds, while RISR is Nontraditional Bonds. They also come from different issuers: Ionic and FolioBeyond. Their fees differ too: 0.74% for CPII and 1.13% for RISR.

Which has better risk-adjusted returns?

RISR currently has the higher Sharpe Ratio (0.95 vs 0.94), 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.