JCPI vs. IWP
JCPI (JPMorgan Inflation Managed Bond ETF) and IWP (iShares Russell Mid-Cap Growth ETF) are both exchange-traded funds - JCPI is a Inflation-Protected Bonds fund actively managed by JPMorgan, while IWP is a Mid Cap Growth Equities fund tracking the Russell Midcap Growth Index. JCPI is actively managed, while IWP is passively managed. Over the past 3 years, JCPI returned 5.17%/yr vs 12.07%/yr for IWP. At a 0.22 correlation, their price movements are largely independent. JCPI charges 0.25%/yr vs 0.23%/yr for IWP.
Performance
JCPI vs. IWP - Performance Comparison
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Returns By Period
In the year-to-date period, JCPI achieves a 1.26% return, which is significantly higher than IWP's 0.63% return.
JCPI
- 1D
- -0.19%
- 1M
- 0.17%
- 6M
- 1.18%
- YTD
- 1.26%
- 1Y
- 3.45%
- 3Y*
- 5.17%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 2.83%
IWP
- 1D
- 0.00%
- 1M
- -3.07%
- 6M
- -2.52%
- YTD
- 0.63%
- 1Y
- -1.82%
- 3Y*
- 12.07%
- 5Y*
- 4.51%
- 10Y*
- 11.64%
- ALL TIME*
- 9.13%
JCPI vs. IWP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
JCPI JPMorgan Inflation Managed Bond ETF | 1.26% | 7.10% | 4.70% | 5.04% | -5.53% |
IWP iShares Russell Mid-Cap Growth ETF | 0.63% | 8.45% | 21.86% | 25.70% | -13.97% |
Correlation
The correlation between JCPI and IWP is 0.27, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.27 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Apr 11, 2022 | 0.22 |
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Return for Risk
JCPI vs. IWP — Risk / Return Rank
JCPI
IWP
JCPI vs. IWP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for JPMorgan Inflation Managed Bond ETF (JCPI) and iShares Russell Mid-Cap Growth ETF (IWP). 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 | IWP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.24 | ||
| Sortino ratioReturn per unit of downside risk | +1.69 | ||
| Omega ratioGain probability vs. loss probability | 1.20 | 1.00 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 2.17 | -0.12 | +2.29 |
| Martin ratioReturn relative to average drawdown | 6.25 | -0.35 | +6.61 |
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Drawdowns
JCPI vs. IWP - Drawdown Comparison
The maximum JCPI drawdown since its inception was -7.85%, smaller than the maximum IWP drawdown of -56.92%. Use the drawdown chart below to compare losses from any high point for JCPI and IWP.
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Drawdown Indicators
| JCPI | IWP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.85% | -56.92% | +49.07% |
Max Drawdown (1Y)Largest decline over 1 year | -1.60% | -14.79% | +13.19% |
Max Drawdown (3Y)Largest decline over 3 years | -2.77% | -25.20% | +22.43% |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.62% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -38.62% | — |
Current DrawdownCurrent decline from peak | -0.82% | -6.02% | +5.20% |
Average DrawdownAverage peak-to-trough decline | -1.84% | -9.65% | +7.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 5.19% | -4.64% |
Volatility
JCPI vs. IWP - Volatility Comparison
The current volatility for JPMorgan Inflation Managed Bond ETF (JCPI) is 1.03%, while iShares Russell Mid-Cap Growth ETF (IWP) has a volatility of 5.06%. This indicates that JCPI experiences smaller price fluctuations and is considered to be less risky than IWP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JCPI | IWP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 5.06% | -4.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.35% | 13.78% | -11.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.07% | 17.32% | -14.25% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.48% | 22.44% | -17.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.48% | 21.69% | -17.21% |
JCPI vs. IWP - Expense Ratio Comparison
JCPI has a 0.25% expense ratio, which is higher than IWP's 0.23% 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. IWP - Dividend Comparison
JCPI's dividend yield for the trailing twelve months is around 4.23%, more than IWP's 0.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IWP iShares Russell Mid-Cap Growth ETF | 0.36% | 0.37% | 0.40% | 0.54% | 0.77% | 0.30% | 0.38% | 0.59% | 1.02% | 0.78% | 1.16% | 0.98% |
JCPI JPMorgan Inflation Managed Bond ETF | 4.23% | 3.93% | 3.98% | 3.45% | 3.29% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
JCPI and IWP have a correlation of 0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IWP has higher volatility (5.06%) compared to JCPI (1.03%). In terms of maximum drawdown, JCPI dropped -7.85% vs IWP's -56.92%.
On 3-year performance, IWP leads with 12.07% vs 5.17% for JCPI. On fees, IWP is cheaper at 0.23% per year. On volatility, JCPI has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, IWP has performed better with a 12.07% return vs 5.17%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IWP is cheaper with a 0.23% expense ratio, compared with 0.25% for JCPI.
JCPI has the higher dividend yield at 4.23%, compared with 0.36% for IWP.
JCPI is categorized as Inflation-Protected Bonds, while IWP is Mid Cap Growth Equities. They also come from different issuers: JPMorgan and iShares. Their fees differ too: 0.25% for JCPI and 0.23% for IWP.
JCPI currently has the higher Sharpe Ratio (1.13 vs -0.11), 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.
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