ICPI vs. RBIL

Last updated Jun 4, 2026

ICPI (iShares 0-1 Year TIPS Bond ETF) and RBIL (F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF) are both Inflation-Protected Bonds funds - ICPI tracks the ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index while RBIL tracks the Bloomberg US Ultrashort TIPS 1-13 Months Index. Both are passively managed. Their correlation of 0.81 suggests significant overlap in exposure. ICPI charges 0.09%/yr vs 0.17%/yr for RBIL.

Performance

ICPI vs. RBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 0-1 Year TIPS Bond ETF (ICPI) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with ICPI at 2.70% and RBIL at 2.70%.

ICPI

• 1D: 0.05%
• 1M: 0.44%
• YTD: 2.70%
• 6M: 2.76%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

RBIL

• 1D: 0.06%
• 1M: 0.38%
• YTD: 2.70%
• 6M: 2.79%
• 1Y: 4.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ICPI vs. RBIL - Yearly Performance Comparison

	2026 (YTD)	2025
ICPI iShares 0-1 Year TIPS Bond ETF	2.70%	0.32%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	2.70%	0.29%

Correlation

The correlation between ICPI and RBIL is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025	0.81

Return for Risk

ICPI vs. RBIL — Risk / Return Rank

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

RBIL

RBIL Risk / Return Rank: 98
RBIL Sharpe Ratio Rank: 97
RBIL Sortino Ratio Rank: 98
RBIL Omega Ratio Rank: 98
RBIL Calmar Ratio Rank: 98
RBIL 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.

ICPI vs. RBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 0-1 Year TIPS Bond ETF (ICPI) and F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ICPI	RBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	5.01	—
Sharpe Ratio (All Time) Calculated using the full available price history	6.20	4.28	+1.92

Drawdowns

ICPI vs. RBIL - Drawdown Comparison

The maximum ICPI drawdown since its inception was -0.22%, smaller than the maximum RBIL drawdown of -0.50%. Use the drawdown chart below to compare losses from any high point for ICPI and RBIL.

Drawdown Indicators

	ICPI	RBIL	Difference
Max Drawdown Largest peak-to-trough decline	-0.22%	-0.50%	+0.28%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.27%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.03%	-0.06%	+0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.07%	—

Volatility

Volatility by Period

	ICPI	RBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.30%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.79%	—
Volatility (1Y) Calculated over the trailing 1-year period	0.95%	0.92%	+0.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.95%	1.05%	-0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.95%	1.05%	-0.10%

ICPI vs. RBIL - Expense Ratio Comparison

ICPI has a 0.09% expense ratio, which is lower than RBIL's 0.17% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

ICPI vs. RBIL - Dividend Comparison

ICPI's dividend yield for the trailing twelve months is around 1.80%, less than RBIL's 4.60% yield.

Position	TTM	2025
ICPI iShares 0-1 Year TIPS Bond ETF	1.80%	0.54%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	4.60%	3.65%

Frequently Asked Questions

Can I hold both ICPI and RBIL in my portfolio?

ICPI and RBIL have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ICPI or RBIL?

On fees, ICPI is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ICPI or RBIL?

ICPI is cheaper with a 0.09% expense ratio, compared with 0.17% for RBIL.

Which ETF pays a higher dividend yield, ICPI or RBIL?

RBIL has the higher dividend yield at 4.60%, compared with 1.80% for ICPI.

What is the main difference between ICPI and RBIL?

ICPI tracks ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index, while RBIL tracks Bloomberg US Ultrashort TIPS 1-13 Months Index. They also come from different issuers: iShares and F/m. Their fees differ too: 0.09% for ICPI and 0.17% for RBIL.