IBIE vs. JPO
IBIE (iShares iBonds Oct 2028 Term TIPS ETF) and JPO (YieldMax JPM Option Income Strategy ETF) are both exchange-traded funds - IBIE is a Inflation-Protected Bonds fund tracking the ICE 2028 Maturity US Inflation-Linked Treasury Index, while JPO is a Options Trading fund actively managed by Tidal. IBIE is passively managed, while JPO is actively managed. Over the past year, IBIE returned 3.41% vs 15.78% for JPO. At a correlation of -0.06, they often move in opposite directions. IBIE charges 0.10%/yr vs 1.19%/yr for JPO.
Performance
IBIE vs. JPO - Performance Comparison
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Returns By Period
In the year-to-date period, IBIE achieves a 1.90% return, which is significantly lower than JPO's 5.99% return.
IBIE
- 1D
- 0.10%
- 1M
- 0.45%
- 6M
- 1.87%
- YTD
- 1.90%
- 1Y
- 3.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JPO
- 1D
- -0.41%
- 1M
- 2.85%
- 6M
- 9.27%
- YTD
- 5.99%
- 1Y
- 15.78%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IBIE vs. JPO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBIE iShares iBonds Oct 2028 Term TIPS ETF | 1.90% | 6.46% | 3.95% | 2.93% |
JPO YieldMax JPM Option Income Strategy ETF | 5.99% | 22.26% | 13.97% | 3.42% |
Correlation
The correlation between IBIE and JPO 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 15, 2023 | -0.06 |
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Return for Risk
IBIE vs. JPO — Risk / Return Rank
IBIE
JPO
IBIE vs. JPO - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2028 Term TIPS ETF (IBIE) and YieldMax JPM Option Income Strategy ETF (JPO). 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.
| IBIE | JPO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.34 | ||
| Sortino ratioReturn per unit of downside risk | +2.43 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.15 | +0.30 |
| Calmar ratioReturn relative to maximum drawdown | 4.76 | 1.11 | +3.65 |
| Martin ratioReturn relative to average drawdown | 14.76 | 2.75 | +12.01 |
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Drawdowns
IBIE vs. JPO - Drawdown Comparison
The maximum IBIE drawdown since its inception was -1.70%, smaller than the maximum JPO drawdown of -24.80%. Use the drawdown chart below to compare losses from any high point for IBIE and JPO.
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Drawdown Indicators
| IBIE | JPO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.70% | -24.80% | +23.10% |
Max Drawdown (1Y)Largest decline over 1 year | -0.72% | -14.24% | +13.52% |
Current DrawdownCurrent decline from peak | -0.20% | -1.41% | +1.21% |
Average DrawdownAverage peak-to-trough decline | -0.39% | -4.47% | +4.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 5.74% | -5.51% |
Volatility
IBIE vs. JPO - Volatility Comparison
The current volatility for iShares iBonds Oct 2028 Term TIPS ETF (IBIE) is 0.54%, while YieldMax JPM Option Income Strategy ETF (JPO) has a volatility of 5.67%. This indicates that IBIE experiences smaller price fluctuations and is considered to be less risky than JPO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBIE | JPO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.54% | 5.67% | -5.13% |
Volatility (6M)Calculated over the trailing 6-month period | 1.09% | 14.48% | -13.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.58% | 19.15% | -17.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.82% | 19.07% | -16.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.82% | 19.07% | -16.25% |
IBIE vs. JPO - Expense Ratio Comparison
IBIE has a 0.10% expense ratio, which is lower than JPO's 1.19% expense ratio.
Dividends
IBIE vs. JPO - Dividend Comparison
IBIE's dividend yield for the trailing twelve months is around 4.96%, less than JPO's 30.88% yield.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
IBIE iShares iBonds Oct 2028 Term TIPS ETF | 4.96% | 4.09% | 4.23% | 0.75% |
JPO YieldMax JPM Option Income Strategy ETF | 30.88% | 34.13% | 25.15% | 4.84% |
Frequently Asked Questions
IBIE and JPO 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.
JPO has higher volatility (5.67%) compared to IBIE (0.54%). In terms of maximum drawdown, IBIE dropped -1.70% vs JPO's -24.80%.
On 1-year performance, JPO leads with 15.78% vs 3.41% for IBIE. On fees, IBIE is cheaper at 0.10% per year. On volatility, IBIE has been the lower-risk option at 0.54%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, JPO has performed better with a 15.78% return vs 3.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIE is cheaper with a 0.10% expense ratio, compared with 1.19% for JPO.
JPO has the higher dividend yield at 30.88%, compared with 4.96% for IBIE.
IBIE is categorized as Inflation-Protected Bonds, while JPO is Options Trading. They also come from different issuers: iShares and Tidal. Their fees differ too: 0.10% for IBIE and 1.19% for JPO.
IBIE currently has the higher Sharpe Ratio (2.17 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.
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