IBII vs. CPII
IBII (iShares iBonds Oct 2032 Term TIPS ETF) and CPII (Ionic Inflation Protection ETF) are both Inflation-Protected Bonds funds. IBII is passively managed, while CPII is actively managed. Over the past year, IBII returned 3.96% vs 3.20% for CPII. At a correlation of -0.33, they often move in opposite directions. IBII charges 0.10%/yr vs 0.74%/yr for CPII.
Performance
IBII vs. CPII - Performance Comparison
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Returns By Period
In the year-to-date period, IBII achieves a 0.67% return, which is significantly lower than CPII's 2.97% return.
IBII
- 1D
- -0.40%
- 1M
- -0.44%
- YTD
- 0.67%
- 6M
- 0.73%
- 1Y
- 3.96%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CPII
- 1D
- -0.13%
- 1M
- -0.73%
- YTD
- 2.97%
- 6M
- 2.83%
- 1Y
- 3.20%
- 3Y*
- 4.60%
- 5Y*
- —
- 10Y*
- —
IBII vs. CPII - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
IBII iShares iBonds Oct 2032 Term TIPS ETF | 0.67% | 8.65% | 1.21% | 4.85% |
CPII Ionic Inflation Protection ETF | 2.97% | 2.76% | 6.05% | -0.75% |
Correlation
The correlation between IBII and CPII is 0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.02 |
Correlation (All Time) Calculated using the full available price history since Sep 21, 2023 | -0.33 |
The correlation between IBII and CPII shifts across timeframes, from -0.33 (all time) to 0.02 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
IBII vs. CPII — Risk / Return Rank
IBII
CPII
IBII vs. CPII - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares iBonds Oct 2032 Term TIPS ETF (IBII) 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.
| IBII | CPII | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.21 | 1.18 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.00 | 1.96 | +0.04 |
| Martin ratioReturn relative to average drawdown | 6.47 | 4.37 | +2.09 |
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Drawdowns
IBII vs. CPII - Drawdown Comparison
The maximum IBII drawdown since its inception was -4.65%, smaller than the maximum CPII drawdown of -6.40%. Use the drawdown chart below to compare losses from any high point for IBII and CPII.
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Drawdown Indicators
| IBII | CPII | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.65% | -6.40% | +1.75% |
Max Drawdown (1Y)Largest decline over 1 year | -1.98% | -1.64% | -0.34% |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.39% | — |
Current DrawdownCurrent decline from peak | -1.58% | -1.64% | +0.06% |
Average DrawdownAverage peak-to-trough decline | -1.12% | -1.61% | +0.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 0.73% | -0.12% |
Volatility
IBII vs. CPII - Volatility Comparison
iShares iBonds Oct 2032 Term TIPS ETF (IBII) has a higher volatility of 1.36% compared to Ionic Inflation Protection ETF (CPII) at 0.76%. This indicates that IBII's price experiences larger fluctuations and is considered to be riskier than CPII based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IBII | CPII | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 0.76% | +0.60% |
Volatility (6M)Calculated over the trailing 6-month period | 2.54% | 2.82% | -0.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.48% | 3.42% | +0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.42% | 5.90% | -0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.42% | 5.90% | -0.48% |
IBII vs. CPII - Expense Ratio Comparison
IBII has a 0.10% expense ratio, which is lower than CPII's 0.74% expense ratio.
Dividends
IBII vs. CPII - Dividend Comparison
IBII's dividend yield for the trailing twelve months is around 4.09%, which matches CPII's 4.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CPII Ionic Inflation Protection ETF | 4.10% | 4.20% | 5.47% | 5.86% | 2.21% |
IBII iShares iBonds Oct 2032 Term TIPS ETF | 4.09% | 4.80% | 4.76% | 1.10% | 0.00% |
Frequently Asked Questions
IBII and CPII have a correlation of 0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IBII has higher volatility (1.36%) compared to CPII (0.76%). In terms of maximum drawdown, IBII dropped -4.65% vs CPII's -6.40%.
On 1-year performance, IBII leads with 3.96% vs 3.20% for CPII. On fees, IBII is cheaper at 0.10% per year. On volatility, CPII has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IBII has performed better with a 3.96% return vs 3.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBII is cheaper with a 0.10% expense ratio, compared with 0.74% for CPII.
CPII has the higher dividend yield at 4.10%, compared with 4.09% for IBII.
They also come from different issuers: iShares and Ionic. Their fees differ too: 0.10% for IBII and 0.74% for CPII.
IBII currently has the higher Sharpe Ratio (1.14 vs 0.94), 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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