VTP vs. CPII
VTP (Vanguard Total Inflation-Protected Securities ETF) and CPII (Ionic Inflation Protection ETF) are both Inflation-Protected Bonds funds. VTP is passively managed, while CPII is actively managed. At a correlation of -0.04, they often move in opposite directions. VTP charges 0.05%/yr vs 0.74%/yr for CPII.
Performance
VTP vs. CPII - Performance Comparison
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Returns By Period
In the year-to-date period, VTP achieves a 1.10% return, which is significantly lower than CPII's 2.46% return.
VTP
- 1D
- 0.34%
- 1M
- 0.22%
- YTD
- 1.10%
- 6M
- 1.02%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
CPII
- 1D
- -0.29%
- 1M
- -1.22%
- YTD
- 2.46%
- 6M
- 2.43%
- 1Y
- 3.20%
- 3Y*
- 4.43%
- 5Y*
- —
- 10Y*
- —
VTP vs. CPII - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
VTP Vanguard Total Inflation-Protected Securities ETF | 1.10% | 2.46% |
CPII Ionic Inflation Protection ETF | 2.46% | -0.27% |
Correlation
The correlation between VTP and CPII is -0.04, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025 | -0.04 |
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Return for Risk
VTP vs. CPII — Risk / Return Rank
VTP
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
CPII
VTP vs. CPII - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Inflation-Protected Securities ETF (VTP) 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.
| VTP | CPII | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.18 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 1.51 | — |
| Martin ratioReturn relative to average drawdown | — | 4.28 | — |
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Drawdowns
VTP vs. CPII - Drawdown Comparison
The maximum VTP drawdown since its inception was -1.92%, smaller than the maximum CPII drawdown of -6.40%. Use the drawdown chart below to compare losses from any high point for VTP and CPII.
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Drawdown Indicators
| VTP | CPII | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.92% | -6.40% | +4.48% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.13% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.39% | — |
Current DrawdownCurrent decline from peak | -0.75% | -2.13% | +1.38% |
Average DrawdownAverage peak-to-trough decline | -0.52% | -1.61% | +1.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.75% | — |
Volatility
VTP vs. CPII - Volatility Comparison
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Volatility by Period
| VTP | CPII | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.77% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.84% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.35% | 3.43% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.35% | 5.90% | -2.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.35% | 5.90% | -2.55% |
VTP vs. CPII - Expense Ratio Comparison
VTP has a 0.05% expense ratio, which is lower than CPII's 0.74% expense ratio.
Dividends
VTP vs. CPII - Dividend Comparison
VTP's dividend yield for the trailing twelve months is around 1.62%, less than CPII's 4.12% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
CPII Ionic Inflation Protection ETF | 4.12% | 4.20% | 5.47% | 5.86% | 2.21% |
VTP Vanguard Total Inflation-Protected Securities ETF | 1.62% | 1.56% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
VTP and CPII have a correlation of -0.04, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, VTP is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.
VTP is cheaper with a 0.05% expense ratio, compared with 0.74% for CPII.
CPII has the higher dividend yield at 4.12%, compared with 1.62% for VTP.
They also come from different issuers: Vanguard and Ionic. Their fees differ too: 0.05% for VTP and 0.74% for CPII.
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