DFIP vs. JCPI

Last updated Apr 1, 2026

Compare and contrast key facts about Dimensional Inflation-Protected Securities ETF (DFIP) and JPMorgan Inflation Managed Bond ETF (JCPI).

DFIP and JCPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DFIP is an actively managed fund by Dimensional. It was launched on Nov 15, 2021. JCPI is an actively managed fund by JPMorgan. It was launched on Mar 31, 2010.

Performance

DFIP vs. JCPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Inflation-Protected Securities ETF (DFIP) and JPMorgan Inflation Managed Bond ETF (JCPI). The values are adjusted to include any dividend payments, if applicable.

DFIP vs. JCPI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DFIP Dimensional Inflation-Protected Securities ETF	0.40%	7.54%	1.72%	4.07%	-7.26%
JCPI JPMorgan Inflation Managed Bond ETF	0.70%	7.10%	4.70%	5.04%	-5.53%

Returns By Period

In the year-to-date period, DFIP achieves a 0.40% return, which is significantly lower than JCPI's 0.70% return.

DFIP

• 1D: 0.01%
• 1M: -1.44%
• YTD: 0.40%
• 6M: 0.24%
• 1Y: 3.35%
• 3Y*: 3.18%
• 5Y*: —
• 10Y*: —

JCPI

• 1D: 0.38%
• 1M: -0.80%
• YTD: 0.70%
• 6M: 0.77%
• 1Y: 4.18%
• 3Y*: 4.53%
• 5Y*: —
• 10Y*: —

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

DFIP vs. JCPI - Expense Ratio Comparison

DFIP has a 0.11% expense ratio, which is lower than JCPI's 0.25% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

JCPI

JPMorgan Inflation Managed Bond ETF

DFIP

Dimensional Inflation-Protected Securities ETF

Return for Risk

DFIP vs. JCPI — Risk / Return Rank

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

DFIP

DFIP Risk / Return Rank: 43
DFIP Sharpe Ratio Rank: 45
DFIP Sortino Ratio Rank: 42
DFIP Omega Ratio Rank: 38
DFIP Calmar Ratio Rank: 49
DFIP Martin Ratio Rank: 41

JCPI

JCPI Risk / Return Rank: 62
JCPI Sharpe Ratio Rank: 65
JCPI Sortino Ratio Rank: 65
JCPI Omega Ratio Rank: 59
JCPI Calmar Ratio Rank: 61
JCPI Martin Ratio Rank: 62

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.

DFIP vs. JCPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Inflation-Protected Securities ETF (DFIP) and JPMorgan Inflation Managed Bond ETF (JCPI). 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.

	DFIP	JCPI	Difference
Sharpe ratio Return per unit of total volatility	0.80	1.13	-0.33
Sortino ratio Return per unit of downside risk	1.13	1.63	-0.50
Omega ratio Gain probability vs. loss probability	1.15	1.22	-0.07
Calmar ratio Return relative to maximum drawdown	1.21	1.53	-0.32
Martin ratio Return relative to average drawdown	3.84	5.98	-2.14
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DFIP vs. JCPI - Sharpe Ratio Comparison

The current DFIP Sharpe Ratio is 0.80, which is comparable to the JCPI Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of DFIP and JCPI, 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

	DFIP	JCPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.80	1.13	-0.33
Sharpe Ratio (All Time) Calculated using the full available price history	0.00	0.64	-0.64

Correlation

The correlation between DFIP and JCPI is 0.84, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

DFIP vs. JCPI - Dividend Comparison

DFIP's dividend yield for the trailing twelve months is around 4.24%, more than JCPI's 3.58% yield.

	TTM	2025	2024	2023	2022	2021
DFIP Dimensional Inflation-Protected Securities ETF	4.24%	4.70%	3.69%	3.68%	5.97%	0.56%
JCPI JPMorgan Inflation Managed Bond ETF	3.58%	3.93%	3.98%	3.45%	3.29%	0.00%

Drawdowns

DFIP vs. JCPI - Drawdown Comparison

The maximum DFIP drawdown since its inception was -14.96%, which is greater than JCPI's maximum drawdown of -7.85%. Use the drawdown chart below to compare losses from any high point for DFIP and JCPI.

Drawdown Indicators

	DFIP	JCPI	Difference
Max Drawdown Largest peak-to-trough decline	-14.96%	-7.85%	-7.11%
Max Drawdown (1Y) Largest decline over 1 year	-3.02%	-2.77%	-0.25%
Current Drawdown Current decline from peak	-1.44%	-0.80%	-0.64%
Average Drawdown Average peak-to-trough decline	-7.21%	-1.93%	-5.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	0.71%	+0.24%

Volatility

DFIP vs. JCPI - Volatility Comparison

Dimensional Inflation-Protected Securities ETF (DFIP) has a higher volatility of 1.38% compared to JPMorgan Inflation Managed Bond ETF (JCPI) at 1.13%. This indicates that DFIP's price experiences larger fluctuations and is considered to be riskier than JCPI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFIP	JCPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.38%	1.13%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	2.35%	1.94%	+0.41%
Volatility (1Y) Calculated over the trailing 1-year period	4.21%	3.71%	+0.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.92%	4.55%	+2.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.92%	4.55%	+2.37%