CZAR vs. RBIL

Last updated Jun 23, 2026

CZAR (Themes Natural Monopoly ETF) and RBIL (F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF) are both exchange-traded funds - CZAR is a Large Cap Blend Equities fund tracking the Solactive Natural Monopoly Index - Benchmark TR Gross, while RBIL is a Inflation-Protected Bonds fund tracking the Bloomberg US Ultrashort TIPS 1-13 Months Index. Both are passively managed. Over the past year, CZAR returned 2.33% vs 3.95% for RBIL. At a correlation of -0.12, they often move in opposite directions. CZAR charges 0.35%/yr vs 0.17%/yr for RBIL.

Performance

CZAR vs. RBIL - Performance Comparison

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

Returns By Period

In the year-to-date period, CZAR achieves a -3.31% return, which is significantly lower than RBIL's 2.31% return.

CZAR

• 1D: -0.34%
• 1M: -3.51%
• YTD: -3.31%
• 6M: -3.54%
• 1Y: 2.33%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RBIL

• 1D: -0.05%
• 1M: -0.20%
• YTD: 2.31%
• 6M: 2.35%
• 1Y: 3.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CZAR vs. RBIL - Yearly Performance Comparison

	2026 (YTD)	2025
CZAR Themes Natural Monopoly ETF	-3.31%	9.44%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	2.31%	2.85%

Correlation

The correlation between CZAR and RBIL is -0.12, 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	-0.12
Correlation (All Time) Calculated using the full available price history since Feb 25, 2025	-0.12

Return for Risk

CZAR vs. RBIL — Risk / Return Rank

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

CZAR

CZAR Risk / Return Rank: 11
CZAR Sharpe Ratio Rank: 11
CZAR Sortino Ratio Rank: 10
CZAR Omega Ratio Rank: 10
CZAR Calmar Ratio Rank: 11
CZAR Martin Ratio Rank: 12

RBIL

RBIL Risk / Return Rank: 97
RBIL Sharpe Ratio Rank: 97
RBIL Sortino Ratio Rank: 97
RBIL Omega Ratio Rank: 98
RBIL Calmar Ratio Rank: 95
RBIL Martin Ratio Rank: 97

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.

CZAR vs. RBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Natural Monopoly ETF (CZAR) 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.

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.

	CZAR	RBIL	Difference
Sharpe ratio: Return per unit of total volatility	0.19	4.18	-3.99
Sortino ratio: Return per unit of downside risk	0.36	6.39	-6.03
Omega ratio: Gain probability vs. loss probability	1.04	2.06	-1.02
Calmar ratio: Return relative to maximum drawdown	0.25	7.59	-7.34
Martin ratio: Return relative to average drawdown	0.73	44.07	-43.34

CZAR vs. RBIL - Sharpe Ratio Comparison

The current CZAR Sharpe Ratio is 0.19, which is lower than the RBIL Sharpe Ratio of 4.18. The chart below compares the historical Sharpe Ratios of CZAR and RBIL, 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

CZAR vs. RBIL - Drawdown Comparison

The maximum CZAR drawdown since its inception was -13.38%, which is greater than RBIL's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for CZAR and RBIL.

Drawdown Indicators

	CZAR	RBIL	Difference
Max Drawdown Largest peak-to-trough decline	-13.38%	-0.52%	-12.86%
Max Drawdown (1Y) Largest decline over 1 year	-9.54%	-0.52%	-9.02%
Current Drawdown Current decline from peak	-5.98%	-0.51%	-5.47%
Average Drawdown Average peak-to-trough decline	-2.23%	-0.07%	-2.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.20%	0.09%	+3.11%

Volatility

CZAR vs. RBIL - Volatility Comparison

Themes Natural Monopoly ETF (CZAR) has a higher volatility of 2.88% compared to F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL) at 0.36%. This indicates that CZAR'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

	CZAR	RBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.88%	0.36%	+2.52%
Volatility (6M) Calculated over the trailing 6-month period	9.98%	0.85%	+9.13%
Volatility (1Y) Calculated over the trailing 1-year period	12.15%	0.95%	+11.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.99%	1.07%	+13.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.99%	1.07%	+13.92%

CZAR vs. RBIL - Expense Ratio Comparison

CZAR has a 0.35% expense ratio, which is higher than RBIL's 0.17% expense ratio.

Dividends

CZAR vs. RBIL - Dividend Comparison

CZAR's dividend yield for the trailing twelve months is around 1.52%, less than RBIL's 4.38% yield.

Position	TTM	2025	2024
CZAR Themes Natural Monopoly ETF	1.52%	1.47%	0.94%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	4.38%	3.65%	0.00%

Frequently Asked Questions

Can I hold both CZAR and RBIL in my portfolio?

CZAR and RBIL have a correlation of -0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CZAR or RBIL?

CZAR has higher volatility (2.88%) compared to RBIL (0.36%). In terms of maximum drawdown, CZAR dropped -13.38% vs RBIL's -0.52%.

Which ETF is better, CZAR or RBIL?

On 1-year performance, RBIL leads with 3.95% vs 2.33% for CZAR. On fees, RBIL is cheaper at 0.17% per year. On volatility, RBIL has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CZAR or RBIL?

Over the 1-year period, RBIL has performed better with a 3.95% return vs 2.33%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CZAR or RBIL?

RBIL is cheaper with a 0.17% expense ratio, compared with 0.35% for CZAR.

Which ETF pays a higher dividend yield, CZAR or RBIL?

RBIL has the higher dividend yield at 4.38%, compared with 1.52% for CZAR.

What is the main difference between CZAR and RBIL?

CZAR is categorized as Large Cap Blend Equities, while RBIL is Inflation-Protected Bonds. CZAR tracks Solactive Natural Monopoly Index - Benchmark TR Gross, while RBIL tracks Bloomberg US Ultrashort TIPS 1-13 Months Index. They also come from different issuers: Themes and F/m. Their fees differ too: 0.35% for CZAR and 0.17% for RBIL.

Which has better risk-adjusted returns?

RBIL currently has the higher Sharpe Ratio (4.18 vs 0.19), 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.