AUNYX vs. VTIP

Last updated Jun 3, 2026

AUNYX (AB Municipal Bond Inflation Strategy) and VTIP (Vanguard Short-Term Inflation-Protected Securities ETF) are both funds - AUNYX is a Municipal Bonds fund managed by AllianceBernstein, while VTIP is a Inflation-Protected Bonds fund tracking the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. Over the past 10 years, AUNYX returned 3.25%/yr vs 3.14%/yr for VTIP. At a 0.36 correlation, their price movements are largely independent. AUNYX charges 0.50%/yr vs 0.03%/yr for VTIP.

Performance

AUNYX vs. VTIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AB Municipal Bond Inflation Strategy (AUNYX) and Vanguard Short-Term Inflation-Protected Securities ETF (VTIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AUNYX achieves a 2.87% return, which is significantly higher than VTIP's 2.05% return. Both investments have delivered pretty close results over the past 10 years, with AUNYX having a 3.25% annualized return and VTIP not far behind at 3.14%.

AUNYX

• 1D: 0.09%
• 1M: 0.34%
• YTD: 2.87%
• 6M: 3.13%
• 1Y: 7.39%
• 3Y*: 4.54%
• 5Y*: 2.72%
• 10Y*: 3.25%

VTIP

• 1D: 0.02%
• 1M: 0.04%
• YTD: 2.05%
• 6M: 2.11%
• 1Y: 4.63%
• 3Y*: 5.26%
• 5Y*: 3.39%
• 10Y*: 3.14%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AUNYX vs. VTIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AUNYX AB Municipal Bond Inflation Strategy	2.87%	5.19%	2.36%	5.17%	-4.84%	7.30%	4.58%	6.74%	-0.07%	3.36%
VTIP Vanguard Short-Term Inflation-Protected Securities ETF	2.05%	6.07%	4.74%	4.62%	-2.94%	5.36%	4.95%	4.86%	0.56%	0.82%

Correlation

The correlation between AUNYX and VTIP is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.36
Correlation (10Y) Calculated over the trailing 10-year period	0.34
Correlation (All Time) Calculated using the full available price history since Oct 17, 2012	0.36

Return for Risk

AUNYX vs. VTIP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AUNYX

AUNYX Risk / Return Rank: 93
AUNYX Sharpe Ratio Rank: 96
AUNYX Sortino Ratio Rank: 95
AUNYX Omega Ratio Rank: 95
AUNYX Calmar Ratio Rank: 87
AUNYX Martin Ratio Rank: 92

VTIP

VTIP Risk / Return Rank: 93
VTIP Sharpe Ratio Rank: 90
VTIP Sortino Ratio Rank: 95
VTIP Omega Ratio Rank: 93
VTIP Calmar Ratio Rank: 93
VTIP Martin Ratio Rank: 93

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AUNYX vs. VTIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AB Municipal Bond Inflation Strategy (AUNYX) and Vanguard Short-Term Inflation-Protected Securities ETF (VTIP). 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.

	AUNYX	VTIP	Difference
Sharpe ratio Return per unit of total volatility	3.41	3.10	+0.31
Sortino ratio Return per unit of downside risk	5.13	5.28	-0.14
Omega ratio Gain probability vs. loss probability	1.77	1.65	+0.12
Calmar ratio Return relative to maximum drawdown	4.19	6.54	-2.35
Martin ratio Return relative to average drawdown	19.20	25.31	-6.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AUNYX vs. VTIP - Sharpe Ratio Comparison

The current AUNYX Sharpe Ratio is 3.41, which is comparable to the VTIP Sharpe Ratio of 3.10. The chart below compares the historical Sharpe Ratios of AUNYX and VTIP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AUNYX	VTIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.41	3.10	+0.31
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	1.23	-0.43
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.91	1.15	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	0.89	-0.02

Drawdowns

AUNYX vs. VTIP - Drawdown Comparison

The maximum AUNYX drawdown since its inception was -14.10%, which is greater than VTIP's maximum drawdown of -6.27%. Use the drawdown chart below to compare losses from any high point for AUNYX and VTIP.

Drawdown Indicators

	AUNYX	VTIP	Difference
Max Drawdown Largest peak-to-trough decline	-14.10%	-6.27%	-7.83%
Max Drawdown (1Y) Largest decline over 1 year	-1.74%	-0.70%	-1.04%
Max Drawdown (3Y) Largest decline over 3 years	-3.53%	-0.98%	-2.55%
Max Drawdown (5Y) Largest decline over 5 years	-8.44%	-5.50%	-2.94%
Max Drawdown (10Y) Largest decline over 10 years	-14.10%	-6.27%	-7.83%
Current Drawdown Current decline from peak	0.00%	-0.02%	+0.02%
Average Drawdown Average peak-to-trough decline	-1.38%	-1.04%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.38%	0.18%	+0.20%

Volatility

AUNYX vs. VTIP - Volatility Comparison

AB Municipal Bond Inflation Strategy (AUNYX) has a higher volatility of 0.80% compared to Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) at 0.43%. This indicates that AUNYX's price experiences larger fluctuations and is considered to be riskier than VTIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AUNYX	VTIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.80%	0.43%	+0.37%
Volatility (6M) Calculated over the trailing 6-month period	1.68%	1.03%	+0.65%
Volatility (1Y) Calculated over the trailing 1-year period	2.12%	1.50%	+0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.41%	2.78%	+0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.59%	2.74%	+0.85%

AUNYX vs. VTIP - Expense Ratio Comparison

AUNYX has a 0.50% expense ratio, which is higher than VTIP's 0.03% expense ratio.

Dividends

AUNYX vs. VTIP - Dividend Comparison

AUNYX's dividend yield for the trailing twelve months is around 3.02%, less than VTIP's 3.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AUNYX AB Municipal Bond Inflation Strategy	3.02%	3.26%	2.53%	2.44%	1.64%	1.66%	2.37%	2.86%	2.64%	2.13%	2.01%	1.90%
VTIP Vanguard Short-Term Inflation-Protected Securities ETF	3.58%	3.81%	2.70%	2.86%	6.84%	4.68%	1.20%	1.95%	2.45%	1.52%	0.76%	0.00%

Frequently Asked Questions

Can I hold both AUNYX and VTIP in my portfolio?

AUNYX and VTIP have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AUNYX or VTIP?

AUNYX has higher volatility (0.80%) compared to VTIP (0.43%). In terms of maximum drawdown, AUNYX dropped -14.10% vs VTIP's -6.27%.

Which has better risk-adjusted returns?

AUNYX currently has the higher Sharpe Ratio (3.41 vs 3.10), 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.