IBIG vs. CPII

Last updated Jun 3, 2026

IBIG (iShares iBonds Oct 2030 Term TIPS ETF) and CPII (Ionic Inflation Protection ETF) are both Inflation-Protected Bonds funds. IBIG is passively managed, while CPII is actively managed. Over the past year, IBIG returned 4.94% vs 3.97% for CPII. At a correlation of -0.27, they often move in opposite directions. IBIG charges 0.10%/yr vs 0.74%/yr for CPII.

Performance

IBIG vs. CPII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares iBonds Oct 2030 Term TIPS ETF (IBIG) 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, IBIG achieves a 1.74% return, which is significantly lower than CPII's 4.13% return.

IBIG

• 1D: -0.02%
• 1M: -0.34%
• YTD: 1.74%
• 6M: 1.65%
• 1Y: 4.94%
• 3Y*: —
• 5Y*: —
• 10Y*: —

CPII

• 1D: -0.02%
• 1M: 0.63%
• YTD: 4.13%
• 6M: 3.99%
• 1Y: 3.97%
• 3Y*: 5.00%
• 5Y*: —
• 10Y*: —

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

IBIG vs. CPII - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IBIG iShares iBonds Oct 2030 Term TIPS ETF	1.74%	7.90%	2.60%	4.26%
CPII Ionic Inflation Protection ETF	4.13%	2.76%	6.05%	-1.22%

Correlation

The correlation between IBIG and CPII is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.10
Correlation (All Time) Calculated using the full available price history since Sep 22, 2023	-0.27

The correlation between IBIG and CPII shifts across timeframes, from -0.27 (all time) to 0.10 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

IBIG vs. CPII — Risk / Return Rank

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

IBIG

IBIG Risk / Return Rank: 62
IBIG Sharpe Ratio Rank: 54
IBIG Sortino Ratio Rank: 63
IBIG Omega Ratio Rank: 56
IBIG Calmar Ratio Rank: 71
IBIG Martin Ratio Rank: 65

CPII

CPII Risk / Return Rank: 38
CPII Sharpe Ratio Rank: 31
CPII Sortino Ratio Rank: 30
CPII Omega Ratio Rank: 32
CPII Calmar Ratio Rank: 56
CPII Martin Ratio Rank: 40

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.

IBIG vs. CPII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2030 Term TIPS ETF (IBIG) 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.

	IBIG	CPII	Difference
Sharpe ratio Return per unit of total volatility	1.90	1.15	+0.75
Sortino ratio Return per unit of downside risk	2.99	1.63	+1.36
Omega ratio Gain probability vs. loss probability	1.35	1.22	+0.13
Calmar ratio Return relative to maximum drawdown	3.58	2.83	+0.75
Martin ratio Return relative to average drawdown	12.15	6.42	+5.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IBIG vs. CPII - Sharpe Ratio Comparison

The current IBIG Sharpe Ratio is 1.90, which is higher than the CPII Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of IBIG 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.

Sharpe Ratios by Period

	IBIG	CPII	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.90	1.15	+0.75
Sharpe Ratio (All Time) Calculated using the full available price history	1.44	0.69	+0.75

Drawdowns

IBIG vs. CPII - Drawdown Comparison

The maximum IBIG drawdown since its inception was -3.21%, smaller than the maximum CPII drawdown of -6.40%. Use the drawdown chart below to compare losses from any high point for IBIG and CPII.

Drawdown Indicators

	IBIG	CPII	Difference
Max Drawdown Largest peak-to-trough decline	-3.21%	-6.40%	+3.19%
Max Drawdown (1Y) Largest decline over 1 year	-1.35%	-1.62%	+0.27%
Max Drawdown (3Y) Largest decline over 3 years	—	-4.39%	—
Current Drawdown Current decline from peak	-0.34%	-0.53%	+0.19%
Average Drawdown Average peak-to-trough decline	-0.77%	-1.62%	+0.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.40%	0.72%	-0.32%

Volatility

IBIG vs. CPII - Volatility Comparison

The current volatility for iShares iBonds Oct 2030 Term TIPS ETF (IBIG) is 0.61%, while Ionic Inflation Protection ETF (CPII) has a volatility of 1.24%. This indicates that IBIG 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

	IBIG	CPII	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.61%	1.24%	-0.63%
Volatility (6M) Calculated over the trailing 6-month period	1.72%	2.81%	-1.09%
Volatility (1Y) Calculated over the trailing 1-year period	2.62%	3.53%	-0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.29%	5.93%	-1.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.29%	5.93%	-1.64%

IBIG vs. CPII - Expense Ratio Comparison

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

Dividends

IBIG vs. CPII - Dividend Comparison

IBIG's dividend yield for the trailing twelve months is around 3.88%, less than CPII's 4.35% yield.

Position	TTM	2025	2024	2023	2022
CPII Ionic Inflation Protection ETF	4.05%	4.20%	5.47%	5.86%	2.21%
IBIG iShares iBonds Oct 2030 Term TIPS ETF	3.88%	4.70%	4.15%	0.78%	0.00%

Frequently Asked Questions

Can I hold both IBIG and CPII in my portfolio?

IBIG and CPII have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBIG or CPII?

CPII has higher volatility (1.24%) compared to IBIG (0.61%). In terms of maximum drawdown, IBIG dropped -3.21% vs CPII's -6.40%.

Which ETF is better, IBIG or CPII?

On 1-year performance, IBIG leads with 4.94% vs 3.97% for CPII. On fees, IBIG is cheaper at 0.10% per year. On volatility, IBIG has been the lower-risk option at 0.61%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBIG or CPII?

Over the 1-year period, IBIG has performed better with a 4.94% return vs 3.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBIG or CPII?

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

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

CPII has the higher dividend yield at 4.35%, compared with 3.88% for IBIG.

What is the main difference between IBIG and CPII?

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

Which has better risk-adjusted returns?

IBIG currently has the higher Sharpe Ratio (1.90 vs 1.15), 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.