APOIX vs. VIPIX
APOIX (American Century Short Duration Inflation Protection Bond Fund Investor Class) and VIPIX (Vanguard Inflation-Protected Securities Fund Institutional Shares) are both Inflation-Protected Bonds funds. Over the past 10 years, APOIX returned 3.04%/yr vs 2.62%/yr for VIPIX. Their correlation of 0.81 suggests significant overlap in exposure. APOIX charges 0.57%/yr vs 0.07%/yr for VIPIX.
Performance
APOIX vs. VIPIX - Performance Comparison
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Returns By Period
In the year-to-date period, APOIX achieves a 1.38% return, which is significantly higher than VIPIX's 1.05% return. Over the past 10 years, APOIX has outperformed VIPIX with an annualized return of 3.04%, while VIPIX has yielded a comparatively lower 2.62% annualized return.
APOIX
- 1D
- 0.10%
- 1M
- -0.16%
- YTD
- 1.38%
- 6M
- 1.48%
- 1Y
- 3.45%
- 3Y*
- 4.70%
- 5Y*
- 2.96%
- 10Y*
- 3.04%
VIPIX
- 1D
- 0.21%
- 1M
- 0.43%
- YTD
- 1.05%
- 6M
- 1.27%
- 1Y
- 4.07%
- 3Y*
- 3.84%
- 5Y*
- 1.08%
- 10Y*
- 2.62%
APOIX vs. VIPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
APOIX American Century Short Duration Inflation Protection Bond Fund Investor Class | 1.38% | 5.95% | 4.15% | 3.82% | -3.89% | 6.30% | 5.06% | 4.77% | 1.81% | 0.73% |
VIPIX Vanguard Inflation-Protected Securities Fund Institutional Shares | 1.05% | 6.98% | 1.85% | 3.85% | -11.93% | 5.73% | 11.05% | 8.18% | -1.40% | 2.97% |
Correlation
The correlation between APOIX and VIPIX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.81 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.76 |
Correlation (All Time) Calculated using the full available price history since May 31, 2005 | 0.81 |
The correlation between APOIX and VIPIX shifts across timeframes, from 0.68 (1 year) to 0.81 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
APOIX vs. VIPIX — Risk / Return Rank
APOIX
VIPIX
APOIX vs. VIPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Century Short Duration Inflation Protection Bond Fund Investor Class (APOIX) and Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX). 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.
| APOIX | VIPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +1.20 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.22 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 4.81 | 2.16 | +2.65 |
| Martin ratioReturn relative to average drawdown | 15.37 | 6.48 | +8.89 |
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Drawdowns
APOIX vs. VIPIX - Drawdown Comparison
The maximum APOIX drawdown since its inception was -14.54%, roughly equal to the maximum VIPIX drawdown of -15.04%. Use the drawdown chart below to compare losses from any high point for APOIX and VIPIX.
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Drawdown Indicators
| APOIX | VIPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.54% | -15.04% | +0.50% |
Max Drawdown (1Y)Largest decline over 1 year | -0.76% | -2.00% | +1.24% |
Max Drawdown (3Y)Largest decline over 3 years | -1.42% | -4.46% | +3.04% |
Max Drawdown (5Y)Largest decline over 5 years | -6.58% | -14.33% | +7.75% |
Max Drawdown (10Y)Largest decline over 10 years | -6.58% | -14.33% | +7.75% |
Current DrawdownCurrent decline from peak | -0.63% | -0.64% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -1.99% | -3.35% | +1.36% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.24% | 0.66% | -0.42% |
Volatility
APOIX vs. VIPIX - Volatility Comparison
The current volatility for American Century Short Duration Inflation Protection Bond Fund Investor Class (APOIX) is 0.65%, while Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) has a volatility of 1.24%. This indicates that APOIX experiences smaller price fluctuations and is considered to be less risky than VIPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| APOIX | VIPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.65% | 1.24% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 1.34% | 2.54% | -1.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.84% | 3.48% | -1.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.31% | 6.02% | -2.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.85% | 5.37% | -2.52% |
APOIX vs. VIPIX - Expense Ratio Comparison
APOIX has a 0.57% expense ratio, which is higher than VIPIX's 0.07% expense ratio.
Dividends
APOIX vs. VIPIX - Dividend Comparison
APOIX's dividend yield for the trailing twelve months is around 4.67%, more than VIPIX's 4.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
APOIX American Century Short Duration Inflation Protection Bond Fund Investor Class | 4.67% | 3.99% | 2.31% | 2.78% | 5.63% | 3.92% | 0.81% | 1.69% | 3.99% | 1.52% | 0.42% | 0.00% |
VIPIX Vanguard Inflation-Protected Securities Fund Institutional Shares | 4.54% | 4.77% | 4.20% | 4.34% | 8.49% | 5.16% | 1.41% | 2.32% | 3.15% | 2.45% | 3.50% | 0.91% |
Frequently Asked Questions
APOIX and VIPIX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIPIX has higher volatility (1.24%) compared to APOIX (0.65%). In terms of maximum drawdown, APOIX dropped -14.54% vs VIPIX's -15.04%.
APOIX currently has the higher Sharpe Ratio (1.99 vs 1.24), 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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