STIP vs. CPII
STIP (iShares 0-5 Year TIPS Bond ETF) and CPII (Ionic Inflation Protection ETF) are both Inflation-Protected Bonds funds. STIP is passively managed, while CPII is actively managed. Over the past 3 years, STIP returned 5.01%/yr vs 4.43%/yr for CPII. At a correlation of -0.06, they often move in opposite directions. STIP charges 0.06%/yr vs 0.74%/yr for CPII.
Performance
STIP vs. CPII - Performance Comparison
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Returns By Period
In the year-to-date period, STIP achieves a 1.39% return, which is significantly lower than CPII's 2.46% return.
STIP
- 1D
- 0.05%
- 1M
- -0.24%
- YTD
- 1.39%
- 6M
- 1.47%
- 1Y
- 3.65%
- 3Y*
- 5.01%
- 5Y*
- 3.28%
- 10Y*
- 3.08%
CPII
- 1D
- -0.29%
- 1M
- -1.22%
- YTD
- 2.46%
- 6M
- 2.43%
- 1Y
- 3.20%
- 3Y*
- 4.43%
- 5Y*
- —
- 10Y*
- —
STIP vs. CPII - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
STIP iShares 0-5 Year TIPS Bond ETF | 1.39% | 6.03% | 4.77% | 4.63% | -1.64% |
CPII Ionic Inflation Protection ETF | 2.46% | 2.76% | 6.05% | 1.79% | 1.04% |
Correlation
The correlation between STIP and CPII is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.29 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.10 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022 | -0.06 |
The correlation between STIP and CPII shifts across timeframes, from -0.10 (3 years) to 0.29 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
STIP vs. CPII — Risk / Return Rank
STIP
CPII
STIP vs. CPII - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares 0-5 Year TIPS Bond ETF (STIP) 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.
| STIP | CPII | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.44 | ||
| Sortino ratioReturn per unit of downside risk | +2.36 | ||
| Omega ratioGain probability vs. loss probability | 1.50 | 1.18 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 5.05 | 1.51 | +3.55 |
| Martin ratioReturn relative to average drawdown | 18.15 | 4.28 | +13.87 |
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Drawdowns
STIP vs. CPII - Drawdown Comparison
The maximum STIP drawdown since its inception was -5.50%, smaller than the maximum CPII drawdown of -6.40%. Use the drawdown chart below to compare losses from any high point for STIP and CPII.
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Drawdown Indicators
| STIP | CPII | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.50% | -6.40% | +0.90% |
Max Drawdown (1Y)Largest decline over 1 year | -0.73% | -2.13% | +1.40% |
Max Drawdown (3Y)Largest decline over 3 years | -0.95% | -4.39% | +3.44% |
Max Drawdown (5Y)Largest decline over 5 years | -5.50% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -5.50% | — | — |
Current DrawdownCurrent decline from peak | -0.67% | -2.13% | +1.46% |
Average DrawdownAverage peak-to-trough decline | -0.99% | -1.61% | +0.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 0.75% | -0.55% |
Volatility
STIP vs. CPII - Volatility Comparison
The current volatility for iShares 0-5 Year TIPS Bond ETF (STIP) is 0.65%, while Ionic Inflation Protection ETF (CPII) has a volatility of 0.77%. This indicates that STIP experiences smaller price fluctuations and is considered to be less risky than CPII based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| STIP | CPII | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 0.77% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 1.14% | 2.84% | -1.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.53% | 3.43% | -1.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.74% | 5.90% | -3.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.45% | 5.90% | -3.45% |
STIP vs. CPII - Expense Ratio Comparison
STIP has a 0.06% expense ratio, which is lower than CPII's 0.74% expense ratio.
Dividends
STIP vs. CPII - Dividend Comparison
STIP's dividend yield for the trailing twelve months is around 4.33%, more than CPII's 4.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
CPII Ionic Inflation Protection ETF | 4.12% | 4.20% | 5.47% | 5.86% | 2.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
STIP iShares 0-5 Year TIPS Bond ETF | 4.33% | 4.11% | 2.62% | 2.84% | 6.04% | 4.15% | 1.40% | 2.06% | 2.44% | 1.59% | 0.89% |
Frequently Asked Questions
STIP and CPII have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CPII has higher volatility (0.77%) compared to STIP (0.65%). In terms of maximum drawdown, STIP dropped -5.50% vs CPII's -6.40%.
On 3-year performance, STIP leads with 5.01% vs 4.43% for CPII. On fees, STIP is cheaper at 0.06% per year. On volatility, STIP has been the lower-risk option at 0.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, STIP has performed better with a 5.01% return vs 4.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
STIP is cheaper with a 0.06% expense ratio, compared with 0.74% for CPII.
STIP has the higher dividend yield at 4.33%, compared with 4.12% for CPII.
They also come from different issuers: iShares and Ionic. Their fees differ too: 0.06% for STIP and 0.74% for CPII.
STIP currently has the higher Sharpe Ratio (2.39 vs 0.95), 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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