JCPI vs. IBIE

Last updated Aug 2, 2026

JCPI (JPMorgan Inflation Managed Bond ETF) and IBIE (iShares iBonds Oct 2028 Term TIPS ETF) are both Inflation-Protected Bonds funds. JCPI is actively managed, while IBIE is passively managed. Over the past year, JCPI returned 2.13% vs 3.03% for IBIE. Their 0.76 correlation means they have sometimes moved together and sometimes differently. JCPI charges 0.25%/yr vs 0.10%/yr for IBIE.

Performance

JCPI vs. IBIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in JPMorgan Inflation Managed Bond ETF (JCPI) and iShares iBonds Oct 2028 Term TIPS ETF (IBIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JCPI achieves a 0.75% return, which is significantly lower than IBIE's 1.90% return.

JCPI

• 1D: -0.29%
• 1M: -0.50%
• 6M: 0.19%
• YTD: 0.75%
• 1Y: 2.13%
• 3Y*: 5.05%
• 5Y*: —
• 10Y*: —
• ALL TIME*: 2.69%

IBIE

• 1D: -0.02%
• 1M: 0.29%
• 6M: 1.31%
• YTD: 1.90%
• 1Y: 3.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.32%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
IBIE iShares iBonds Oct 2028 Term TIPS ETF	$698.05K	$699.21K	$764.03K
JCPI JPMorgan Inflation Managed Bond ETF	$1.59M	$2.28M	$2.32M

JCPI vs. IBIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
JCPI JPMorgan Inflation Managed Bond ETF	0.75%	7.10%	4.70%	2.94%
IBIE iShares iBonds Oct 2028 Term TIPS ETF	1.90%	6.46%	3.95%	2.93%

Correlation

The correlation between JCPI and IBIE is 0.62, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.62
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023	0.76

The correlation between JCPI and IBIE shifts across timeframes, from 0.62 (1 year) to 0.76 (all time), reflecting how their relationship changes across market environments.

Return for Risk

JCPI vs. IBIE — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

JCPI

JCPI Risk / Return Rank: 40
JCPI Sharpe Ratio Rank: 38
JCPI Sortino Ratio Rank: 36
JCPI Omega Ratio Rank: 34
JCPI Calmar Ratio Rank: 50
JCPI Martin Ratio Rank: 44

IBIE

IBIE Risk / Return Rank: 93
IBIE Sharpe Ratio Rank: 90
IBIE Sortino Ratio Rank: 94
IBIE Omega Ratio Rank: 93
IBIE Calmar Ratio Rank: 94
IBIE Martin Ratio Rank: 91

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

JCPI vs. IBIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for JPMorgan Inflation Managed Bond ETF (JCPI) and iShares iBonds Oct 2028 Term TIPS ETF (IBIE). 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.

	JCPI	IBIE	Difference
Sharpe ratio: Return per unit of total volatility	0.93	2.29	-1.35
Sortino ratio: Return per unit of downside risk	1.37	3.89	-2.52
Omega ratio: Gain probability vs. loss probability	1.17	1.49	-0.32
Calmar ratio: Return relative to maximum drawdown	1.79	4.90	-3.11
Martin ratio: Return relative to average drawdown	4.79	15.03	-10.23

JCPI vs. IBIE - Sharpe Ratio Comparison

The current JCPI Sharpe Ratio is 0.93, which is lower than the IBIE Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of JCPI and IBIE, 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

JCPI vs. IBIE - Drawdown Comparison

The maximum JCPI drawdown since its inception was -7.85%, which is greater than IBIE's maximum drawdown of -1.70%. Use the drawdown chart below to compare losses from any high point for JCPI and IBIE.

Drawdown Indicators

	JCPI	IBIE	Difference
Max Drawdown Largest peak-to-trough decline	-7.85%	-1.70%	-6.15%
Max Drawdown (1Y) Largest decline over 1 year	-1.60%	-0.72%	-0.88%
Max Drawdown (3Y) Largest decline over 3 years	-2.77%	—	—
Current Drawdown Current decline from peak	-1.32%	-0.20%	-1.12%
Average Drawdown Average peak-to-trough decline	-1.83%	-0.38%	-1.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.60%	0.23%	+0.37%

Volatility

JCPI vs. IBIE - Volatility Comparison

JPMorgan Inflation Managed Bond ETF (JCPI) has a higher volatility of 0.83% compared to iShares iBonds Oct 2028 Term TIPS ETF (IBIE) at 0.30%. This indicates that JCPI's price experiences larger fluctuations and is considered to be riskier than IBIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JCPI	IBIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.83%	0.30%	+0.53%
Volatility (6M) Calculated over the trailing 6-month period	2.36%	1.07%	+1.29%
Volatility (1Y) Calculated over the trailing 1-year period	3.06%	1.54%	+1.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.47%	2.80%	+1.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.47%	2.80%	+1.67%

JCPI vs. IBIE - Expense Ratio Comparison

JCPI has a 0.25% expense ratio, which is higher than IBIE's 0.10% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

JCPI vs. IBIE - Dividend Comparison

JCPI's dividend yield for the trailing twelve months is around 4.25%, less than IBIE's 4.96% yield.

Position	TTM	2025	2024	2023	2022
IBIE iShares iBonds Oct 2028 Term TIPS ETF	4.96%	4.09%	4.23%	0.75%	0.00%
JCPI JPMorgan Inflation Managed Bond ETF	3.91%	3.93%	3.98%	3.45%	3.29%

Frequently Asked Questions

Can I hold both JCPI and IBIE in my portfolio?

JCPI and IBIE have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, JCPI or IBIE?

JCPI has higher volatility (0.83%) compared to IBIE (0.30%). In terms of maximum drawdown, JCPI dropped -7.85% vs IBIE's -1.70%.

Which ETF is better, JCPI or IBIE?

On 1-year performance, IBIE leads with 3.03% vs 2.13% for JCPI. On fees, IBIE is cheaper at 0.10% per year. On volatility, IBIE 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, JCPI or IBIE?

Over the 1-year period, IBIE has performed better with a 3.03% return vs 2.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JCPI or IBIE?

IBIE is cheaper with a 0.10% expense ratio, compared with 0.25% for JCPI.

Which ETF pays a higher dividend yield, JCPI or IBIE?

IBIE has the higher dividend yield at 4.96%, compared with 3.91% for JCPI.

What is the main difference between JCPI and IBIE?

They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.25% for JCPI and 0.10% for IBIE.

Which has better risk-adjusted returns?

IBIE currently has the higher Sharpe Ratio (2.29 vs 0.93), 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.