HCOW vs. IBIC

Last updated Jun 24, 2026

HCOW (Amplify Cash Flow High Income ETF) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - HCOW is a Large Cap Value Equities fund actively managed by Amplify, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. HCOW is actively managed, while IBIC is passively managed. Over the past year, HCOW returned 19.08% vs 4.42% for IBIC. At a 0.05 correlation, their price movements are largely independent. HCOW charges 0.65%/yr vs 0.10%/yr for IBIC.

Performance

HCOW vs. IBIC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Amplify Cash Flow High Income ETF (HCOW) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, HCOW achieves a 4.04% return, which is significantly higher than IBIC's 2.43% return.

HCOW

• 1D: 0.08%
• 1M: 1.03%
• YTD: 4.04%
• 6M: 3.74%
• 1Y: 19.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIC

• 1D: 0.04%
• 1M: 0.12%
• YTD: 2.43%
• 6M: 2.57%
• 1Y: 4.42%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

HCOW vs. IBIC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
HCOW Amplify Cash Flow High Income ETF	4.04%	5.76%	7.63%	4.66%
IBIC iShares iBonds Oct 2026 Term TIPS ETF	2.43%	4.96%	5.25%	2.23%

Correlation

The correlation between HCOW and IBIC is -0.14, 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	-0.14
Correlation (All Time) Calculated using the full available price history since Sep 20, 2023	0.05

The correlation between HCOW and IBIC shifts across timeframes, from -0.14 (1 year) to 0.05 (all time), reflecting how their relationship changes across market environments.

Return for Risk

HCOW vs. IBIC — Risk / Return Rank

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

HCOW

HCOW Risk / Return Rank: 50
HCOW Sharpe Ratio Rank: 41
HCOW Sortino Ratio Rank: 43
HCOW Omega Ratio Rank: 40
HCOW Calmar Ratio Rank: 65
HCOW Martin Ratio Rank: 59

IBIC

IBIC Risk / Return Rank: 98
IBIC Sharpe Ratio Rank: 98
IBIC Sortino Ratio Rank: 98
IBIC Omega Ratio Rank: 98
IBIC Calmar Ratio Rank: 98
IBIC 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.

HCOW vs. IBIC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Amplify Cash Flow High Income ETF (HCOW) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). 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.

	HCOW	IBIC	Difference
Sharpe ratio: Return per unit of total volatility	1.37	4.99	-3.61
Sortino ratio: Return per unit of downside risk	2.06	8.97	-6.92
Omega ratio: Gain probability vs. loss probability	1.25	2.22	-0.98
Calmar ratio: Return relative to maximum drawdown	3.05	16.56	-13.52
Martin ratio: Return relative to average drawdown	9.74	58.67	-48.93

HCOW vs. IBIC - Sharpe Ratio Comparison

The current HCOW Sharpe Ratio is 1.37, which is lower than the IBIC Sharpe Ratio of 4.99. The chart below compares the historical Sharpe Ratios of HCOW and IBIC, 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

HCOW vs. IBIC - Drawdown Comparison

The maximum HCOW drawdown since its inception was -24.15%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for HCOW and IBIC.

Drawdown Indicators

	HCOW	IBIC	Difference
Max Drawdown Largest peak-to-trough decline	-24.15%	-0.90%	-23.25%
Max Drawdown (1Y) Largest decline over 1 year	-6.29%	-0.27%	-6.02%
Current Drawdown Current decline from peak	-1.97%	-0.08%	-1.89%
Average Drawdown Average peak-to-trough decline	-4.88%	-0.10%	-4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	0.08%	+1.88%

Volatility

HCOW vs. IBIC - Volatility Comparison

Amplify Cash Flow High Income ETF (HCOW) has a higher volatility of 3.37% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.17%. This indicates that HCOW's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	HCOW	IBIC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.37%	0.17%	+3.20%
Volatility (6M) Calculated over the trailing 6-month period	9.00%	0.67%	+8.33%
Volatility (1Y) Calculated over the trailing 1-year period	13.95%	0.89%	+13.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.53%	1.56%	+15.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.53%	1.56%	+15.97%

HCOW vs. IBIC - Expense Ratio Comparison

HCOW has a 0.65% expense ratio, which is higher than IBIC's 0.10% expense ratio.

Dividends

HCOW vs. IBIC - Dividend Comparison

HCOW's dividend yield for the trailing twelve months is around 11.78%, more than IBIC's 3.58% yield.

Position	TTM	2025	2024	2023
HCOW Amplify Cash Flow High Income ETF	11.78%	10.88%	8.13%	1.99%
IBIC iShares iBonds Oct 2026 Term TIPS ETF	3.58%	4.43%	4.65%	0.83%

Frequently Asked Questions

Can I hold both HCOW and IBIC in my portfolio?

HCOW and IBIC have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, HCOW or IBIC?

HCOW has higher volatility (3.37%) compared to IBIC (0.17%). In terms of maximum drawdown, HCOW dropped -24.15% vs IBIC's -0.90%.

Which ETF is better, HCOW or IBIC?

On 1-year performance, HCOW leads with 19.08% vs 4.42% for IBIC. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, HCOW or IBIC?

Over the 1-year period, HCOW has performed better with a 19.08% return vs 4.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, HCOW or IBIC?

IBIC is cheaper with a 0.10% expense ratio, compared with 0.65% for HCOW.

Which ETF pays a higher dividend yield, HCOW or IBIC?

HCOW has the higher dividend yield at 11.78%, compared with 3.58% for IBIC.

What is the main difference between HCOW and IBIC?

HCOW is categorized as Large Cap Value Equities, while IBIC is Inflation-Protected Bonds. They also come from different issuers: Amplify and iShares. Their fees differ too: 0.65% for HCOW and 0.10% for IBIC.

Which has better risk-adjusted returns?

IBIC currently has the higher Sharpe Ratio (4.99 vs 1.37), 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.