CPII vs PBTP
American Beacon Ionic Inflation Protection ETF vs Invesco 0-5 Yr US TIPS ETF
Which is better, CPII or PBTP?
Each has led over a different period.
PBTP has a lower expense ratio. CPII led over 1Y, PBTP over the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | CPII | PBTP |
|---|---|---|
| Expense Ratio | 0.70% | 0.07%Best |
| AUM | $12M | $243M |
| Dividend Yield | 4.65% | 4.05% |
| Holdings | 16 | 56 |
| Volatility (annualized) | 5.0% | 3.2%Best |
| Max Drawdown | -6.4% | -4.4%Best |
| $10,000 over 2.8 years | $11,068 | $11,074Best |
| Fund Family | American Beacon Funds | Invesco (US) |
| Category | Fixed Income | Fixed Income |
| Style | Inflation Protection | Inflation Protection |
| Inception | Jun 28, 2022 | Sep 19, 2017 |
Not shown on this pair: YTD Return, 1Y Return, 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
The two price series end 551 days apart, so a return over any period would be measuring two different stretches of market. Those rows are withheld. CPII has data through Apr 11, 2025 and PBTP through Oct 14, 2026.
Volatility and max drawdown, and the $10,000 over 2.8 years row, are measured over the window both funds cover: Jun 29, 2022 to Apr 11, 2025 (2.8 years).
Risk: Volatility and Drawdowns
CPII has been the more volatile fund, with annualized monthly volatility of 5.0% compared with 3.2% for PBTP. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -6.4% for CPII and -4.4% for PBTP. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.03. They move largely independently of each other.
Fees and Cost Over Time
CPII charges 0.70% per year while PBTP charges 0.07%. On a $10,000 position that is $70 vs $7 annually, a gap of $63 per year that compounds over a long holding period. On income, CPII currently yields 4.65% against 4.05% for PBTP.
Holdings Overlap
At least 86.0% of CPII's money is in holdings PBTP also owns.
Stated as a floor: for PBTP, our book for it covers 90.0% of that fund, so a holding it does not list is one we cannot count as shared. The real figure is this or higher.
Most of CPII is already inside PBTP. Owning both mostly buys the same companies twice.
7 positions in common, counted across the 8 positions we hold weights for in CPII and 23 in PBTP, against full books of 16 and 56.
Top Shared Holdings
| Stock | Weight in CPII | Weight in PBTP | Difference |
|---|---|---|---|
| TII 0.375 07/15/27United States Govt 0.375 2027-07-15 | 13.41% | 4.59% | 8.82% |
| TII 0.125 04/15/27U.S. Treasury Inflation Indexed Bonds 0.125%, 04/15/27 | 13.33% | 4.26% | 9.07% |
| TII 1.625 10/15/27United States Treasury Inflation Indexed Bonds - When Issued 1.63% 15Oct2027 | 12.57% | 4.18% | 8.39% |
| TII 0.375 01/15/27United States Treasury Inflation Indexed Bonds 0.375 01/15/2027 | 11.89% | 4.83% | 7.06% |
| TII 1.25 04/15/28Treasury (Cpi) Note 1.25% Apr 15, 2028 | 12.53% | 4.05% | 8.48% |
| TII 0.75 07/15/28Tsy Infl Ix N/B 07/28 0.75 | 11.90% | 4.36% | 7.54% |
| TII 0.5 01/15/28U.S. Treasury Inflation Indexed Bonds 0.500%, 01/15/28 | 10.36% | 4.72% | 5.64% |
86.0% of CPII is already inside PBTP.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, CPII or PBTP?
CPII has an expense ratio of 0.70% while PBTP charges 0.07%. PBTP is the cheaper option, by $63 a year on a $10,000 investment.
Which is riskier, CPII or PBTP?
CPII has been the more volatile fund at 5.0% annualized versus 3.2% for PBTP. Worst drawdown: CPII -6.4% vs PBTP -4.4%.
Should I hold both CPII and PBTP?
CPII and PBTP have a monthly-return correlation of -0.03, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between CPII and PBTP?
At least 86.0% of CPII's money is in holdings PBTP also owns. Our book for PBTP is partial, so the real figure is this or higher. They hold 7 positions in common, counted across the 8 positions we hold weights for in CPII and 23 in PBTP.
Which pays a higher dividend, CPII or PBTP?
CPII yields 4.65% while PBTP yields 4.05%, so CPII currently pays the higher dividend yield.
Is PBTP better than CPII?
PBTP has a lower expense ratio. CPII led over 1Y, PBTP over the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.