IQSM vs. RBIL

Last updated Jun 23, 2026

IQSM (IQ Candriam U.S. Mid Cap Equity ETF) and RBIL (F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF) are both exchange-traded funds - IQSM is a Mid Cap Blend Equities fund tracking the IQ Candriam ESG U.S. Mid Cap Equity Index - Benchmark TR Net, while RBIL is a Inflation-Protected Bonds fund tracking the Bloomberg US Ultrashort TIPS 1-13 Months Index. Both are passively managed. Over the past year, IQSM returned 24.75% vs 3.95% for RBIL. At a correlation of -0.16, they often move in opposite directions. IQSM charges 0.15%/yr vs 0.17%/yr for RBIL.

Performance

IQSM vs. RBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IQ Candriam U.S. Mid Cap Equity ETF (IQSM) 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

In the year-to-date period, IQSM achieves a 12.62% return, which is significantly higher than RBIL's 2.31% return.

IQSM

• 1D: 0.19%
• 1M: 2.84%
• YTD: 12.62%
• 6M: 10.34%
• 1Y: 24.75%
• 3Y*: 13.88%
• 5Y*: —
• 10Y*: —

RBIL

• 1D: -0.05%
• 1M: -0.20%
• YTD: 2.31%
• 6M: 2.35%
• 1Y: 3.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

IQSM vs. RBIL - Yearly Performance Comparison

	2026 (YTD)	2025
IQSM IQ Candriam U.S. Mid Cap Equity ETF	12.62%	7.98%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	2.31%	2.85%

Correlation

The correlation between IQSM and RBIL is -0.16, 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	-0.16
Correlation (All Time) Calculated using the full available price history since Feb 25, 2025	-0.16

Return for Risk

IQSM vs. RBIL — Risk / Return Rank

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

IQSM

IQSM Risk / Return Rank: 52
IQSM Sharpe Ratio Rank: 48
IQSM Sortino Ratio Rank: 49
IQSM Omega Ratio Rank: 45
IQSM Calmar Ratio Rank: 58
IQSM Martin Ratio Rank: 59

RBIL

RBIL Risk / Return Rank: 97
RBIL Sharpe Ratio Rank: 97
RBIL Sortino Ratio Rank: 97
RBIL Omega Ratio Rank: 98
RBIL Calmar Ratio Rank: 95
RBIL Martin Ratio Rank: 97

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.

IQSM vs. RBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ Candriam U.S. Mid Cap Equity ETF (IQSM) 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.

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.

	IQSM	RBIL	Difference
Sharpe ratio: Return per unit of total volatility	1.63	4.18	-2.55
Sortino ratio: Return per unit of downside risk	2.36	6.39	-4.02
Omega ratio: Gain probability vs. loss probability	1.28	2.06	-0.78
Calmar ratio: Return relative to maximum drawdown	2.80	7.59	-4.78
Martin ratio: Return relative to average drawdown	10.23	44.07	-33.85

IQSM vs. RBIL - Sharpe Ratio Comparison

The current IQSM Sharpe Ratio is 1.63, which is lower than the RBIL Sharpe Ratio of 4.18. The chart below compares the historical Sharpe Ratios of IQSM and RBIL, 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

IQSM vs. RBIL - Drawdown Comparison

The maximum IQSM drawdown since its inception was -23.66%, which is greater than RBIL's maximum drawdown of -0.52%. Use the drawdown chart below to compare losses from any high point for IQSM and RBIL.

Drawdown Indicators

	IQSM	RBIL	Difference
Max Drawdown Largest peak-to-trough decline	-23.66%	-0.52%	-23.14%
Max Drawdown (1Y) Largest decline over 1 year	-8.86%	-0.52%	-8.34%
Max Drawdown (3Y) Largest decline over 3 years	-23.66%	—	—
Current Drawdown Current decline from peak	-0.52%	-0.51%	-0.01%
Average Drawdown Average peak-to-trough decline	-4.81%	-0.07%	-4.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.43%	0.09%	+2.34%

Volatility

IQSM vs. RBIL - Volatility Comparison

IQ Candriam U.S. Mid Cap Equity ETF (IQSM) has a higher volatility of 4.24% compared to F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL) at 0.36%. This indicates that IQSM's price experiences larger fluctuations and is considered to be riskier than RBIL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IQSM	RBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.24%	0.36%	+3.88%
Volatility (6M) Calculated over the trailing 6-month period	11.43%	0.85%	+10.58%
Volatility (1Y) Calculated over the trailing 1-year period	15.25%	0.95%	+14.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.88%	1.07%	+16.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.88%	1.07%	+16.81%

IQSM vs. RBIL - Expense Ratio Comparison

IQSM has a 0.15% 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

IQSM vs. RBIL - Dividend Comparison

IQSM's dividend yield for the trailing twelve months is around 1.07%, less than RBIL's 4.38% yield.

Position	TTM	2025	2024	2023	2022
IQSM IQ Candriam U.S. Mid Cap Equity ETF	1.07%	1.18%	1.22%	1.11%	0.32%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	4.38%	3.65%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both IQSM and RBIL in my portfolio?

IQSM and RBIL have a correlation of -0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IQSM or RBIL?

IQSM has higher volatility (4.24%) compared to RBIL (0.36%). In terms of maximum drawdown, IQSM dropped -23.66% vs RBIL's -0.52%.

Which ETF is better, IQSM or RBIL?

On 1-year performance, IQSM leads with 24.75% vs 3.95% for RBIL. On fees, IQSM is cheaper at 0.15% per year. On volatility, RBIL has been the lower-risk option at 0.36%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IQSM or RBIL?

Over the 1-year period, IQSM has performed better with a 24.75% return vs 3.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IQSM or RBIL?

IQSM is cheaper with a 0.15% expense ratio, compared with 0.17% for RBIL.

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

RBIL has the higher dividend yield at 4.38%, compared with 1.07% for IQSM.

What is the main difference between IQSM and RBIL?

IQSM is categorized as Mid Cap Blend Equities, while RBIL is Inflation-Protected Bonds. IQSM tracks IQ Candriam ESG U.S. Mid Cap Equity Index - Benchmark TR Net, while RBIL tracks Bloomberg US Ultrashort TIPS 1-13 Months Index. They also come from different issuers: IndexIQ and F/m. Their fees differ too: 0.15% for IQSM and 0.17% for RBIL.

Which has better risk-adjusted returns?

RBIL currently has the higher Sharpe Ratio (4.18 vs 1.63), 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.