RINF vs. CPII
RINF (ProShares Inflation Expectations ETF) and CPII (Ionic Inflation Protection ETF) are both Inflation-Protected Bonds funds. RINF is passively managed, while CPII is actively managed. Over the past 3 years, RINF returned 4.84%/yr vs 5.05%/yr for CPII. A 0.54 correlation means they provide meaningful diversification when combined. RINF charges 0.30%/yr vs 0.74%/yr for CPII.
Performance
RINF vs. CPII - Performance Comparison
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Returns By Period
In the year-to-date period, RINF achieves a 2.37% return, which is significantly lower than CPII's 4.27% return.
RINF
- 1D
- -0.07%
- 1M
- 0.43%
- YTD
- 2.37%
- 6M
- 3.08%
- 1Y
- 2.48%
- 3Y*
- 4.84%
- 5Y*
- 5.43%
- 10Y*
- 4.69%
CPII
- 1D
- 0.13%
- 1M
- 0.26%
- YTD
- 4.27%
- 6M
- 4.13%
- 1Y
- 4.42%
- 3Y*
- 5.05%
- 5Y*
- —
- 10Y*
- —
RINF vs. CPII - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
RINF ProShares Inflation Expectations ETF | 2.37% | 1.64% | 9.79% | 0.21% | 4.57% |
CPII Ionic Inflation Protection ETF | 4.27% | 2.76% | 6.05% | 1.79% | 1.22% |
Correlation
The correlation between RINF and CPII is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 2022 | 0.54 |
Over the past year, the correlation between RINF and CPII has dropped to 0.18 - well below their long-term average of 0.54, suggesting their price drivers have been diverging.
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Return for Risk
RINF vs. CPII — Risk / Return Rank
RINF
CPII
RINF vs. CPII - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ProShares Inflation Expectations ETF (RINF) and Ionic Inflation Protection ETF (CPII). 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.
| RINF | CPII | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.72 | ||
| Sortino ratioReturn per unit of downside risk | -1.00 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.25 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.96 | 2.73 | -1.77 |
| Martin ratioReturn relative to average drawdown | 1.83 | 6.37 | -4.54 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| RINF | CPII | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.56 | 1.28 | -0.72 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.43 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.08 | 0.69 | -0.61 |
Drawdowns
RINF vs. CPII - Drawdown Comparison
The maximum RINF drawdown since its inception was -43.51%, which is greater than CPII's maximum drawdown of -6.40%. Use the drawdown chart below to compare losses from any high point for RINF and CPII.
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Drawdown Indicators
| RINF | CPII | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.51% | -6.40% | -37.11% |
Max Drawdown (1Y)Largest decline over 1 year | -2.60% | -1.62% | -0.98% |
Max Drawdown (3Y)Largest decline over 3 years | -9.62% | -4.39% | -5.23% |
Max Drawdown (5Y)Largest decline over 5 years | -13.58% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -29.18% | — | — |
Current DrawdownCurrent decline from peak | -0.66% | -0.40% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -16.45% | -1.62% | -14.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.37% | 0.70% | +0.67% |
Volatility
RINF vs. CPII - Volatility Comparison
ProShares Inflation Expectations ETF (RINF) and Ionic Inflation Protection ETF (CPII) have volatilities of 1.19% and 1.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RINF | CPII | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 1.14% | +0.05% |
Volatility (6M)Calculated over the trailing 6-month period | 2.77% | 2.81% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.49% | 3.48% | +1.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.82% | 5.93% | +6.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.57% | 5.93% | +6.64% |
RINF vs. CPII - Expense Ratio Comparison
RINF has a 0.30% expense ratio, which is lower than CPII's 0.74% expense ratio.
Dividends
RINF vs. CPII - Dividend Comparison
RINF's dividend yield for the trailing twelve months is around 3.70%, less than CPII's 4.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CPII Ionic Inflation Protection ETF | 4.05% | 4.20% | 5.47% | 5.86% | 2.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
RINF ProShares Inflation Expectations ETF | 3.70% | 3.89% | 4.68% | 5.07% | 1.15% | 2.76% | 0.82% | 1.90% | 2.47% | 2.99% | 1.09% | 1.83% |
Frequently Asked Questions
RINF and CPII have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RINF has higher volatility (1.19%) compared to CPII (1.14%). In terms of maximum drawdown, RINF dropped -43.51% vs CPII's -6.40%.
On 3-year performance, CPII leads with 5.05% vs 4.84% for RINF. On fees, RINF is cheaper at 0.30% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, CPII has performed better with a 5.05% return vs 4.84%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
RINF is cheaper with a 0.30% expense ratio, compared with 0.74% for CPII.
CPII has the higher dividend yield at 4.05%, compared with 3.70% for RINF.
They also come from different issuers: ProShares and Ionic. Their fees differ too: 0.30% for RINF and 0.74% for CPII.
CPII currently has the higher Sharpe Ratio (1.28 vs 0.56), 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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