For ETF investors, floating rate corporate bond ETFs provide the necessary hedge against a rising rate environment, but what are the options when inflation is rising in conjunction with the federal funds rate? Rising inflation can tamp down any returns realized from floating rate corporate bonds, but investors are keen to look at the  IQ Real Return ETF (CPI) as an option to hedge against inflation. CPI seeks investment results that correspond to the IQ Real Return Index--a "fund of funds" that invests its net assets in the investments incorporated within the underlying index.