TIPX vs. CPII
TIPX (SPDR Bloomberg Barclays 1-10 Year TIPS ETF) and CPII (American Beacon Ionic Inflation Protection ETF) are both Inflation-Protected Bonds funds. TIPX is passively managed, while CPII is actively managed. Over the past 3 years, TIPX returned 4.58%/yr vs 4.00%/yr for CPII. Their -0.19 correlation means they have often moved in opposite directions in the past. TIPX charges 0.15%/yr vs 0.74%/yr for CPII.
Performance
TIPX vs. CPII - Performance Comparison
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Returns By Period
In the year-to-date period, TIPX achieves a 1.16% return, which is significantly lower than CPII's 3.09% return.
TIPX
- 1D
- -0.01%
- 1M
- -0.12%
- 6M
- 0.79%
- YTD
- 1.16%
- 1Y
- 2.46%
- 3Y*
- 4.58%
- 5Y*
- 1.73%
- 10Y*
- 2.81%
- ALL TIME*
- 2.21%
CPII
- 1D
- 0.21%
- 1M
- 0.11%
- 6M
- 2.49%
- YTD
- 3.09%
- 1Y
- 3.03%
- 3Y*
- 4.00%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 3.59%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $7.01K | $4.83K | $26.03K | |
| $6.38M | $5.20M | $8.29M |
TIPX vs. CPII - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|---|
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 1.16% | 7.15% | 3.08% | 4.43% | -2.51% |
CPII American Beacon Ionic Inflation Protection ETF | 3.09% | 2.76% | 6.05% | 1.79% | 1.04% |
Correlation
The correlation between TIPX and CPII is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.06 |
Correlation (3Y) Balances recent behavior with more history. | -0.22 |
Correlation (All Time) Calculated using the full available price history since Jun 29, 2022 | -0.19 |
The correlation between TIPX and CPII shifts across timeframes, from -0.22 (3 years) to 0.06 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TIPX vs. CPII — Risk / Return Rank
TIPX
CPII
TIPX vs. CPII - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) and American Beacon 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.
| TIPX | CPII | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.04 | ||
| Sortino ratioReturn per unit of downside risk | +0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.17 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 1.91 | 1.43 | +0.48 |
| Martin ratioReturn relative to average drawdown | 5.06 | 3.43 | +1.64 |
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Drawdowns
TIPX vs. CPII - Drawdown Comparison
The maximum TIPX drawdown since its inception was -10.06%, which is greater than CPII's maximum drawdown of -6.40%. Use the drawdown chart below to compare losses from any high point for TIPX and CPII.
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Drawdown Indicators
| TIPX | CPII | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.06% | -6.40% | -3.66% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | -2.13% | +0.84% |
Max Drawdown (3Y)Largest decline over 3 years | -2.32% | -4.39% | +2.07% |
Max Drawdown (5Y)Largest decline over 5 years | -10.06% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -10.06% | — | — |
Current DrawdownCurrent decline from peak | -0.85% | -1.53% | +0.68% |
Average DrawdownAverage peak-to-trough decline | -2.27% | -1.61% | -0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.49% | 0.88% | -0.39% |
Volatility
TIPX vs. CPII - Volatility Comparison
The current volatility for SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) is 0.64%, while American Beacon Ionic Inflation Protection ETF (CPII) has a volatility of 0.97%. This indicates that TIPX 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
| TIPX | CPII | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 0.97% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 1.99% | 2.95% | -0.96% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.57% | 3.31% | -0.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.62% | 5.84% | -1.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.31% | 5.84% | -1.53% |
TIPX vs. CPII - Expense Ratio Comparison
TIPX has a 0.15% expense ratio, which is lower than CPII's 0.74% expense ratio.
Dividends
TIPX vs. CPII - Dividend Comparison
TIPX's dividend yield for the trailing twelve months is around 5.65%, more than CPII's 4.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CPII American Beacon Ionic Inflation Protection ETF | 4.64% | 4.20% | 5.47% | 5.86% | 2.21% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 5.65% | 3.78% | 3.57% | 3.57% | 6.08% | 4.26% | 1.73% | 2.53% | 1.90% | 2.84% | 1.04% | 0.06% |
Frequently Asked Questions
TIPX and CPII have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CPII has higher volatility (0.97%) compared to TIPX (0.64%). In terms of maximum drawdown, TIPX dropped -10.06% vs CPII's -6.40%.
On 3-year performance, TIPX leads with 4.58% vs 4.00% for CPII. On fees, TIPX is cheaper at 0.15% per year. On volatility, TIPX has been the lower-risk option at 0.64%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, TIPX has performed better with a 4.58% return vs 4.00%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TIPX is cheaper with a 0.15% expense ratio, compared with 0.74% for CPII.
TIPX has the higher dividend yield at 5.65%, compared with 4.64% for CPII.
They also come from different issuers: State Street and American Beacon. Their fees differ too: 0.15% for TIPX and 0.74% for CPII.
TIPX currently has the higher Sharpe Ratio (0.96 vs 0.92), 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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