CPII vs. WIP
Compare and contrast key facts about Ionic Inflation Protection ETF (CPII) and SPDR FTSE International Government Inflation-Protected Bond ETF (WIP).
CPII and WIP 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. WIP is a passively managed fund by State Street that tracks the performance of the FTSE International Inflation-Linked Securities Select (USD). It was launched on Mar 13, 2008.
Performance
CPII vs. WIP - Performance Comparison
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CPII vs. WIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
CPII Ionic Inflation Protection ETF | 1.57% | 2.76% | 6.05% | 1.79% | 1.22% |
WIP SPDR FTSE International Government Inflation-Protected Bond ETF | 1.75% | 15.18% | -8.71% | 8.84% | -3.13% |
Returns By Period
In the year-to-date period, CPII achieves a 1.57% return, which is significantly lower than WIP's 1.75% return.
CPII
- 1D
- -0.10%
- 1M
- 1.16%
- YTD
- 1.57%
- 6M
- 0.74%
- 1Y
- 2.18%
- 3Y*
- 3.96%
- 5Y*
- —
- 10Y*
- —
WIP
- 1D
- 0.73%
- 1M
- -2.02%
- YTD
- 1.75%
- 6M
- 3.52%
- 1Y
- 11.92%
- 3Y*
- 3.21%
- 5Y*
- -0.22%
- 10Y*
- 1.36%
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CPII vs. WIP - Expense Ratio Comparison
CPII has a 0.74% expense ratio, which is higher than WIP's 0.50% expense ratio.
Return for Risk
CPII vs. WIP — Risk / Return Rank
CPII
WIP
CPII vs. WIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Ionic Inflation Protection ETF (CPII) and SPDR FTSE International Government Inflation-Protected Bond ETF (WIP). 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 | WIP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.56 | 1.26 | -0.70 |
Sortino ratioReturn per unit of downside risk | 0.82 | 1.72 | -0.90 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.22 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 1.23 | 2.40 | -1.17 |
Martin ratioReturn relative to average drawdown | 2.72 | 7.08 | -4.36 |
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 | WIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.56 | 1.26 | -0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | -0.02 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.13 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.59 | 0.11 | +0.48 |
Correlation
The correlation between CPII and WIP is -0.29. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
CPII vs. WIP - Dividend Comparison
CPII's dividend yield for the trailing twelve months is around 3.41%, less than WIP's 5.32% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CPII Ionic Inflation Protection ETF | 3.41% | 4.20% | 5.47% | 5.86% | 2.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
WIP SPDR FTSE International Government Inflation-Protected Bond ETF | 5.32% | 5.51% | 6.06% | 6.54% | 11.15% | 4.63% | 1.59% | 2.49% | 4.05% | 1.91% | 1.27% | 1.14% |
Drawdowns
CPII vs. WIP - Drawdown Comparison
The maximum CPII drawdown since its inception was -6.40%, smaller than the maximum WIP drawdown of -29.60%. Use the drawdown chart below to compare losses from any high point for CPII and WIP.
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Drawdown Indicators
| CPII | WIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.40% | -29.60% | +23.20% |
Max Drawdown (1Y)Largest decline over 1 year | -1.62% | -5.16% | +3.54% |
Max Drawdown (5Y)Largest decline over 5 years | — | -28.84% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -28.84% | — |
Current DrawdownCurrent decline from peak | -1.16% | -6.22% | +5.06% |
Average DrawdownAverage peak-to-trough decline | -1.67% | -8.62% | +6.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 1.75% | -1.02% |
Volatility
CPII vs. WIP - Volatility Comparison
The current volatility for Ionic Inflation Protection ETF (CPII) is 2.02%, while SPDR FTSE International Government Inflation-Protected Bond ETF (WIP) has a volatility of 4.25%. This indicates that CPII experiences smaller price fluctuations and is considered to be less risky than WIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CPII | WIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.02% | 4.25% | -2.23% |
Volatility (6M)Calculated over the trailing 6-month period | 2.44% | 6.05% | -3.61% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 9.51% | -5.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.01% | 11.39% | -5.38% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.01% | 10.12% | -4.11% |