IVOL vs. EICA

Last updated Jun 4, 2026

IVOL (Quadratic Interest Rate Volatility & Inflation Hedge ETF) is Inflation-Protected Bonds fund actively managed by CICC, while EICA (Eagle Point Income Company Inc.) is a stock. Over the past 3 years, IVOL returned -3.54%/yr vs 7.40%/yr for EICA. At a 0.04 correlation, their price movements are largely independent.

Performance

IVOL vs. EICA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) and Eagle Point Income Company Inc. (EICA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IVOL achieves a -6.33% return, which is significantly lower than EICA's 3.65% return.

IVOL

• 1D: -0.34%
• 1M: -3.62%
• YTD: -6.33%
• 6M: -7.21%
• 1Y: -5.59%
• 3Y*: -3.54%
• 5Y*: -5.77%
• 10Y*: —

EICA

• 1D: -0.08%
• 1M: 0.62%
• YTD: 3.65%
• 6M: 3.76%
• 1Y: 7.96%
• 3Y*: 7.40%
• 5Y*: —
• 10Y*: —

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

IVOL vs. EICA - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	-6.33%	11.97%	-11.07%	-5.18%	-12.69%	-2.20%
EICA Eagle Point Income Company Inc.	3.65%	9.12%	8.10%	2.75%	-2.04%	2.70%

Correlation

The correlation between IVOL and EICA is 0.07, 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	0.07
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (All Time) Calculated using the full available price history since Oct 21, 2021	0.04

Return for Risk

IVOL vs. EICA — Risk / Return Rank

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

IVOL

IVOL Risk / Return Rank: 3
IVOL Sharpe Ratio Rank: 3
IVOL Sortino Ratio Rank: 3
IVOL Omega Ratio Rank: 3
IVOL Calmar Ratio Rank: 4
IVOL Martin Ratio Rank: 3

EICA

EICA Risk / Return Rank: 79
EICA Sharpe Ratio Rank: 77
EICA Sortino Ratio Rank: 73
EICA Omega Ratio Rank: 89
EICA Calmar Ratio Rank: 77
EICA Martin Ratio Rank: 79

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.

IVOL vs. EICA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) and Eagle Point Income Company Inc. (EICA). 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.

	IVOL	EICA	Difference
Sharpe ratio: Return per unit of total volatility	-0.81	1.24	-2.05
Sortino ratio: Return per unit of downside risk	-1.14	1.90	-3.04
Omega ratio: Gain probability vs. loss probability	0.88	1.41	-0.54
Calmar ratio: Return relative to maximum drawdown	-0.57	2.20	-2.78
Martin ratio: Return relative to average drawdown	-1.28	6.22	-7.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IVOL vs. EICA - Sharpe Ratio Comparison

The current IVOL Sharpe Ratio is -0.81, which is lower than the EICA Sharpe Ratio of 1.24. The chart below compares the historical Sharpe Ratios of IVOL and EICA, 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

	IVOL	EICA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.81	1.24	-2.05
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.11	0.56	-0.67

Drawdowns

IVOL vs. EICA - Drawdown Comparison

The maximum IVOL drawdown since its inception was -31.16%, which is greater than EICA's maximum drawdown of -13.45%. Use the drawdown chart below to compare losses from any high point for IVOL and EICA.

Drawdown Indicators

	IVOL	EICA	Difference
Max Drawdown Largest peak-to-trough decline	-31.16%	-13.45%	-17.71%
Max Drawdown (1Y) Largest decline over 1 year	-9.81%	-3.63%	-6.18%
Max Drawdown (3Y) Largest decline over 3 years	-16.63%	-4.46%	-12.17%
Max Drawdown (5Y) Largest decline over 5 years	-30.62%	—	—
Current Drawdown Current decline from peak	-26.33%	-2.82%	-23.51%
Average Drawdown Average peak-to-trough decline	-13.30%	-2.05%	-11.25%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.38%	1.28%	+3.10%

Volatility

IVOL vs. EICA - Volatility Comparison

Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) has a higher volatility of 1.07% compared to Eagle Point Income Company Inc. (EICA) at 0.50%. This indicates that IVOL's price experiences larger fluctuations and is considered to be riskier than EICA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IVOL	EICA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	0.50%	+0.57%
Volatility (6M) Calculated over the trailing 6-month period	4.44%	5.94%	-1.50%
Volatility (1Y) Calculated over the trailing 1-year period	6.89%	6.45%	+0.44%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.84%	9.29%	+3.55%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.99%	9.29%	+2.70%

Dividends

IVOL vs. EICA - Dividend Comparison

IVOL's dividend yield for the trailing twelve months is around 3.89%, less than EICA's 5.00% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
EICA Eagle Point Income Company Inc.	5.00%	5.08%	5.27%	5.40%	5.26%	0.41%	0.00%	0.00%
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF	3.89%	3.61%	3.83%	3.73%	3.92%	3.93%	3.44%	2.02%

Frequently Asked Questions

Can I hold both IVOL and EICA in my portfolio?

IVOL and EICA have a correlation of 0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IVOL or EICA?

IVOL has higher volatility (1.07%) compared to EICA (0.50%). In terms of maximum drawdown, IVOL dropped -31.16% vs EICA's -13.45%.

Which has better risk-adjusted returns?

EICA currently has the higher Sharpe Ratio (1.24 vs -0.81), 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.