RISR vs. CPII

Last updated Jun 23, 2026

RISR (FolioBeyond Alternative Income and Interest Rate Hedge ETF) and CPII (Ionic Inflation Protection ETF) are both exchange-traded funds - RISR is a Nontraditional Bonds fund actively managed by FolioBeyond, while CPII is a Inflation-Protected Bonds fund actively managed by Ionic. Both are actively managed. Over the past 3 years, RISR returned 11.28%/yr vs 4.60%/yr for CPII. At a 0.32 correlation, their price movements are largely independent. RISR charges 1.13%/yr vs 0.74%/yr for CPII.

Performance

RISR vs. CPII - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR) and Ionic Inflation Protection ETF (CPII). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with RISR having a 2.99% return and CPII slightly lower at 2.97%.

RISR

• 1D: 0.22%
• 1M: 0.01%
• YTD: 2.99%
• 6M: 3.27%
• 1Y: 5.10%
• 3Y*: 11.28%
• 5Y*: —
• 10Y*: —

CPII

• 1D: -0.13%
• 1M: -0.73%
• YTD: 2.97%
• 6M: 2.83%
• 1Y: 3.20%
• 3Y*: 4.60%
• 5Y*: —
• 10Y*: —

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

RISR vs. CPII - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF	2.99%	4.63%	24.20%	7.02%	-0.30%
CPII Ionic Inflation Protection ETF	2.97%	2.76%	6.05%	1.79%	1.04%

Correlation

The correlation between RISR and CPII is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.13
Correlation (3Y) Calculated over the trailing 3-year period	0.31
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022	0.32

The correlation between RISR and CPII shifts across timeframes, from 0.13 (1 year) to 0.32 (all time), reflecting how their relationship changes across market environments.

Return for Risk

RISR vs. CPII — Risk / Return Rank

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

RISR

RISR Risk / Return Rank: 30
RISR Sharpe Ratio Rank: 27
RISR Sortino Ratio Rank: 26
RISR Omega Ratio Rank: 25
RISR Calmar Ratio Rank: 40
RISR Martin Ratio Rank: 33

CPII

CPII Risk / Return Rank: 30
CPII Sharpe Ratio Rank: 27
CPII Sortino Ratio Rank: 26
CPII Omega Ratio Rank: 27
CPII Calmar Ratio Rank: 40
CPII Martin Ratio Rank: 32

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.

RISR vs. CPII - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR) 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.

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.

	RISR	CPII	Difference
Sharpe ratio: Return per unit of total volatility	0.95	0.94	+0.01
Sortino ratio: Return per unit of downside risk	1.38	1.36	+0.02
Omega ratio: Gain probability vs. loss probability	1.17	1.18	-0.01
Calmar ratio: Return relative to maximum drawdown	1.96	1.96	0.00
Martin ratio: Return relative to average drawdown	4.64	4.37	+0.27

RISR vs. CPII - Sharpe Ratio Comparison

The current RISR Sharpe Ratio is 0.95, which is comparable to the CPII Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of RISR and CPII, 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

RISR vs. CPII - Drawdown Comparison

The maximum RISR drawdown since its inception was -14.31%, which is greater than CPII's maximum drawdown of -6.40%. Use the drawdown chart below to compare losses from any high point for RISR and CPII.

Drawdown Indicators

	RISR	CPII	Difference
Max Drawdown Largest peak-to-trough decline	-14.31%	-6.40%	-7.91%
Max Drawdown (1Y) Largest decline over 1 year	-2.61%	-1.64%	-0.97%
Max Drawdown (3Y) Largest decline over 3 years	-8.07%	-4.39%	-3.68%
Current Drawdown Current decline from peak	-0.51%	-1.64%	+1.13%
Average Drawdown Average peak-to-trough decline	-2.17%	-1.61%	-0.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.10%	0.73%	+0.37%

Volatility

RISR vs. CPII - Volatility Comparison

FolioBeyond Alternative Income and Interest Rate Hedge ETF (RISR) has a higher volatility of 1.23% compared to Ionic Inflation Protection ETF (CPII) at 0.76%. This indicates that RISR's price experiences larger fluctuations and is considered to be riskier than CPII based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RISR	CPII	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	0.76%	+0.47%
Volatility (6M) Calculated over the trailing 6-month period	3.95%	2.82%	+1.13%
Volatility (1Y) Calculated over the trailing 1-year period	5.40%	3.42%	+1.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.79%	5.90%	+5.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.79%	5.90%	+5.89%

RISR vs. CPII - Expense Ratio Comparison

RISR has a 1.13% expense ratio, which is higher than CPII's 0.74% expense ratio.

Dividends

RISR vs. CPII - Dividend Comparison

RISR's dividend yield for the trailing twelve months is around 5.92%, more than CPII's 4.10% yield.

Position	TTM	2025	2024	2023	2022	2021
CPII Ionic Inflation Protection ETF	4.10%	4.20%	5.47%	5.86%	2.21%	0.00%
RISR FolioBeyond Alternative Income and Interest Rate Hedge ETF	5.92%	5.95%	5.67%	7.96%	4.26%	0.30%

Frequently Asked Questions

Can I hold both RISR and CPII in my portfolio?

RISR and CPII have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RISR or CPII?

RISR has higher volatility (1.23%) compared to CPII (0.76%). In terms of maximum drawdown, RISR dropped -14.31% vs CPII's -6.40%.

Which ETF is better, RISR or CPII?

On 3-year performance, RISR leads with 11.28% vs 4.60% for CPII. On fees, CPII is cheaper at 0.74% per year. On volatility, CPII has been the lower-risk option at 0.76%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RISR or CPII?

Over the 3-year period, RISR has performed better with a 11.28% return vs 4.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RISR or CPII?

CPII is cheaper with a 0.74% expense ratio, compared with 1.13% for RISR.

Which ETF pays a higher dividend yield, RISR or CPII?

RISR has the higher dividend yield at 5.92%, compared with 4.10% for CPII.

What is the main difference between RISR and CPII?

RISR is categorized as Nontraditional Bonds, while CPII is Inflation-Protected Bonds. They also come from different issuers: FolioBeyond and Ionic. Their fees differ too: 1.13% for RISR and 0.74% for CPII.

Which has better risk-adjusted returns?

RISR currently has the higher Sharpe Ratio (0.95 vs 0.94), 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.