ITWO vs. RBIL

Last updated Jun 5, 2026

ITWO (Proshares Russell 2000 High Income ETF) and RBIL (F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF) are both exchange-traded funds - ITWO is a Derivative Income fund tracking the Cboe Russell 2000 Daily Covered Call Index, 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, ITWO returned 41.29% vs 4.60% for RBIL. At a correlation of -0.20, they often move in opposite directions. ITWO charges 0.55%/yr vs 0.17%/yr for RBIL.

Performance

ITWO vs. RBIL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Proshares Russell 2000 High Income ETF (ITWO) 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, ITWO achieves a 19.23% return, which is significantly higher than RBIL's 2.67% return.

ITWO

• 1D: 1.46%
• 1M: 3.76%
• YTD: 19.23%
• 6M: 17.25%
• 1Y: 41.29%
• 3Y*: —
• 5Y*: —
• 10Y*: —

RBIL

• 1D: -0.03%
• 1M: 0.34%
• YTD: 2.67%
• 6M: 2.74%
• 1Y: 4.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ITWO vs. RBIL - Yearly Performance Comparison

	2026 (YTD)	2025
ITWO Proshares Russell 2000 High Income ETF	19.23%	16.75%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	2.67%	2.91%

Correlation

The correlation between ITWO and RBIL is -0.24, 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	-0.24
Correlation (All Time) Calculated using the full available price history since Feb 26, 2025	-0.20

Return for Risk

ITWO vs. RBIL — Risk / Return Rank

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

ITWO

ITWO Risk / Return Rank: 70
ITWO Sharpe Ratio Rank: 69
ITWO Sortino Ratio Rank: 66
ITWO Omega Ratio Rank: 59
ITWO Calmar Ratio Rank: 82
ITWO Martin Ratio Rank: 76

RBIL

RBIL Risk / Return Rank: 98
RBIL Sharpe Ratio Rank: 98
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.

ITWO vs. RBIL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Proshares Russell 2000 High Income ETF (ITWO) 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.

	ITWO	RBIL	Difference
Sharpe ratio: Return per unit of total volatility	2.23	5.06	-2.83
Sortino ratio: Return per unit of downside risk	3.00	8.01	-5.01
Omega ratio: Gain probability vs. loss probability	1.36	2.41	-1.05
Calmar ratio: Return relative to maximum drawdown	4.24	17.11	-12.88
Martin ratio: Return relative to average drawdown	14.28	71.11	-56.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ITWO vs. RBIL - Sharpe Ratio Comparison

The current ITWO Sharpe Ratio is 2.23, which is lower than the RBIL Sharpe Ratio of 5.06. The chart below compares the historical Sharpe Ratios of ITWO 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.

Sharpe Ratios by Period

	ITWO	RBIL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	5.06	-2.83
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	4.24	-3.17

Drawdowns

ITWO vs. RBIL - Drawdown Comparison

The maximum ITWO drawdown since its inception was -24.77%, which is greater than RBIL's maximum drawdown of -0.50%. Use the drawdown chart below to compare losses from any high point for ITWO and RBIL.

Drawdown Indicators

	ITWO	RBIL	Difference
Max Drawdown Largest peak-to-trough decline	-24.77%	-0.50%	-24.27%
Max Drawdown (1Y) Largest decline over 1 year	-9.79%	-0.27%	-9.52%
Current Drawdown Current decline from peak	0.00%	-0.03%	+0.03%
Average Drawdown Average peak-to-trough decline	-5.14%	-0.06%	-5.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.90%	0.06%	+2.84%

Volatility

ITWO vs. RBIL - Volatility Comparison

Proshares Russell 2000 High Income ETF (ITWO) has a higher volatility of 5.81% compared to F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF (RBIL) at 0.30%. This indicates that ITWO'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

	ITWO	RBIL	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.81%	0.30%	+5.51%
Volatility (6M) Calculated over the trailing 6-month period	13.42%	0.79%	+12.63%
Volatility (1Y) Calculated over the trailing 1-year period	18.61%	0.92%	+17.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.48%	1.05%	+19.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.48%	1.05%	+19.43%

ITWO vs. RBIL - Expense Ratio Comparison

ITWO has a 0.55% expense ratio, which is higher than RBIL's 0.17% expense ratio.

Dividends

ITWO vs. RBIL - Dividend Comparison

ITWO's dividend yield for the trailing twelve months is around 7.47%, more than RBIL's 4.60% yield.

Position	TTM	2025	2024
ITWO Proshares Russell 2000 High Income ETF	7.47%	12.12%	4.11%
RBIL F/m Ultrashort Treasury Inflation-Protected Security (TIPS) ETF	4.60%	3.65%	0.00%

Frequently Asked Questions

Can I hold both ITWO and RBIL in my portfolio?

ITWO and RBIL have a correlation of -0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ITWO or RBIL?

ITWO has higher volatility (5.81%) compared to RBIL (0.30%). In terms of maximum drawdown, ITWO dropped -24.77% vs RBIL's -0.50%.

Which ETF is better, ITWO or RBIL?

On 1-year performance, ITWO leads with 41.29% vs 4.60% for RBIL. On fees, RBIL is cheaper at 0.17% per year. On volatility, RBIL has been the lower-risk option at 0.30%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ITWO or RBIL?

Over the 1-year period, ITWO has performed better with a 41.29% return vs 4.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ITWO or RBIL?

RBIL is cheaper with a 0.17% expense ratio, compared with 0.55% for ITWO.

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

ITWO has the higher dividend yield at 7.47%, compared with 4.60% for RBIL.

What is the main difference between ITWO and RBIL?

ITWO is categorized as Derivative Income, while RBIL is Inflation-Protected Bonds. ITWO tracks Cboe Russell 2000 Daily Covered Call Index, while RBIL tracks Bloomberg US Ultrashort TIPS 1-13 Months Index. They also come from different issuers: ProShares and F/m. Their fees differ too: 0.55% for ITWO and 0.17% for RBIL.

Which has better risk-adjusted returns?

RBIL currently has the higher Sharpe Ratio (5.06 vs 2.23), 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.