IBID vs. CPII

Last updated Jun 23, 2026

IBID (iShares iBonds Oct 2027 Term TIPS ETF) and CPII (Ionic Inflation Protection ETF) are both Inflation-Protected Bonds funds. IBID is passively managed, while CPII is actively managed. Over the past year, IBID returned 4.04% vs 2.83% for CPII. At a correlation of -0.07, they often move in opposite directions. IBID charges 0.10%/yr vs 0.74%/yr for CPII.

Performance

IBID vs. CPII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Oct 2027 Term TIPS ETF (IBID) and Ionic Inflation Protection ETF (CPII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBID achieves a 1.99% return, which is significantly lower than CPII's 2.76% return.

IBID

• 1D: 0.00%
• 1M: -0.19%
• YTD: 1.99%
• 6M: 2.08%
• 1Y: 4.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CPII

• 1D: -0.21%
• 1M: -0.94%
• YTD: 2.76%
• 6M: 2.75%
• 1Y: 2.83%
• 3Y*: 4.53%
• 5Y*: —
• 10Y*: —

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

IBID vs. CPII - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IBID iShares iBonds Oct 2027 Term TIPS ETF	1.99%	5.66%	4.71%	2.61%
CPII Ionic Inflation Protection ETF	2.76%	2.76%	6.05%	-0.77%

Correlation

The correlation between IBID and CPII is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023	-0.07

The correlation between IBID and CPII shifts across timeframes, from -0.07 (all time) to 0.46 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

IBID vs. CPII — Risk / Return Rank

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

IBID

IBID Risk / Return Rank: 95
IBID Sharpe Ratio Rank: 93
IBID Sortino Ratio Rank: 96
IBID Omega Ratio Rank: 96
IBID Calmar Ratio Rank: 96
IBID Martin Ratio Rank: 95

CPII

CPII Risk / Return Rank: 26
CPII Sharpe Ratio Rank: 24
CPII Sortino Ratio Rank: 23
CPII Omega Ratio Rank: 24
CPII Calmar Ratio Rank: 32
CPII Martin Ratio Rank: 29

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.

IBID vs. CPII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2027 Term TIPS ETF (IBID) and Ionic Inflation Protection ETF (CPII). 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.

	IBID	CPII	Difference
Sharpe ratio: Return per unit of total volatility	3.29	0.83	+2.46
Sortino ratio: Return per unit of downside risk	5.55	1.20	+4.35
Omega ratio: Gain probability vs. loss probability	1.75	1.16	+0.59
Calmar ratio: Return relative to maximum drawdown	8.22	1.54	+6.68
Martin ratio: Return relative to average drawdown	30.99	3.85	+27.14

IBID vs. CPII - Sharpe Ratio Comparison

The current IBID Sharpe Ratio is 3.29, which is higher than the CPII Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of IBID and CPII, 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

IBID vs. CPII - Drawdown Comparison

The maximum IBID drawdown since its inception was -1.28%, smaller than the maximum CPII drawdown of -6.40%. Use the drawdown chart below to compare losses from any high point for IBID and CPII.

Drawdown Indicators

	IBID	CPII	Difference
Max Drawdown Largest peak-to-trough decline	-1.28%	-6.40%	+5.12%
Max Drawdown (1Y) Largest decline over 1 year	-0.49%	-1.85%	+1.36%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.39%	—
Current Drawdown Current decline from peak	-0.49%	-1.85%	+1.36%
Average Drawdown Average peak-to-trough decline	-0.22%	-1.61%	+1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.13%	0.74%	-0.61%

Volatility

IBID vs. CPII - Volatility Comparison

The current volatility for iShares iBonds Oct 2027 Term TIPS ETF (IBID) is 0.35%, while Ionic Inflation Protection ETF (CPII) has a volatility of 0.75%. This indicates that IBID experiences smaller price fluctuations and is considered to be less risky than CPII based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBID	CPII	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.35%	0.75%	-0.40%
Volatility (6M) Calculated over the trailing 6-month period	0.86%	2.82%	-1.96%
Volatility (1Y) Calculated over the trailing 1-year period	1.23%	3.42%	-2.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.24%	5.90%	-3.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.24%	5.90%	-3.66%

IBID vs. CPII - Expense Ratio Comparison

IBID has a 0.10% expense ratio, which is lower than CPII's 0.74% expense ratio.

Dividends

IBID vs. CPII - Dividend Comparison

IBID's dividend yield for the trailing twelve months is around 3.68%, less than CPII's 4.11% yield.

Position	TTM	2025	2024	2023	2022
CPII Ionic Inflation Protection ETF	4.11%	4.20%	5.47%	5.86%	2.21%
IBID iShares iBonds Oct 2027 Term TIPS ETF	3.68%	4.43%	4.24%	0.81%	0.00%

Frequently Asked Questions

Can I hold both IBID and CPII in my portfolio?

IBID and CPII have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBID or CPII?

CPII has higher volatility (0.75%) compared to IBID (0.35%). In terms of maximum drawdown, IBID dropped -1.28% vs CPII's -6.40%.

Which ETF is better, IBID or CPII?

On 1-year performance, IBID leads with 4.04% vs 2.83% for CPII. On fees, IBID is cheaper at 0.10% per year. On volatility, IBID has been the lower-risk option at 0.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBID or CPII?

Over the 1-year period, IBID has performed better with a 4.04% return vs 2.83%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBID or CPII?

IBID is cheaper with a 0.10% expense ratio, compared with 0.74% for CPII.

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

CPII has the higher dividend yield at 4.11%, compared with 3.68% for IBID.

What is the main difference between IBID and CPII?

They also come from different issuers: iShares and Ionic. Their fees differ too: 0.10% for IBID and 0.74% for CPII.

Which has better risk-adjusted returns?

IBID currently has the higher Sharpe Ratio (3.29 vs 0.83), 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.