DFIP vs. VTP

Last updated Jul 17, 2026

DFIP (Dimensional Inflation-Protected Securities ETF) and VTP (Vanguard Total Inflation-Protected Securities ETF) are both Inflation-Protected Bonds funds. DFIP is actively managed, while VTP is passively managed. Over the past year, DFIP returned 2.97% vs 3.18% for VTP. With a 0.96 correlation, they move nearly in lockstep. DFIP charges 0.11%/yr vs 0.05%/yr for VTP.

Performance

DFIP vs. VTP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Dimensional Inflation-Protected Securities ETF (DFIP) and Vanguard Total Inflation-Protected Securities ETF (VTP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with DFIP having a 0.83% return and VTP slightly higher at 0.86%.

DFIP

• 1D: -0.11%
• 1M: -0.71%
• 6M: 0.55%
• YTD: 0.83%
• 1Y: 2.97%
• 3Y*: 3.85%
• 5Y*: —
• 10Y*: —

VTP

• 1D: -0.08%
• 1M: -0.62%
• 6M: 0.58%
• YTD: 0.86%
• 1Y: 3.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DFIP vs. VTP - Yearly Performance Comparison

	2026 (YTD)	2025
DFIP Dimensional Inflation-Protected Securities ETF	0.83%	2.55%
VTP Vanguard Total Inflation-Protected Securities ETF	0.86%	2.46%

Correlation

The correlation between DFIP and VTP is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.96

The correlation between DFIP and VTP has been stable across timeframes, ranging from 0.96 to 0.96 - a consistent structural relationship.

Return for Risk

DFIP vs. VTP — Risk / Return Rank

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

DFIP

DFIP Risk / Return Rank: 30
DFIP Sharpe Ratio Rank: 28
DFIP Sortino Ratio Rank: 27
DFIP Omega Ratio Rank: 26
DFIP Calmar Ratio Rank: 34
DFIP Martin Ratio Rank: 34

VTP

VTP Risk / Return Rank: 34
VTP Sharpe Ratio Rank: 32
VTP Sortino Ratio Rank: 30
VTP Omega Ratio Rank: 29
VTP Calmar Ratio Rank: 39
VTP Martin Ratio Rank: 38

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.

DFIP vs. VTP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Dimensional Inflation-Protected Securities ETF (DFIP) and Vanguard Total Inflation-Protected Securities ETF (VTP). 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.

	DFIP	VTP	Difference
Sharpe ratio: Return per unit of total volatility	0.85	0.96	-0.10
Sortino ratio: Return per unit of downside risk	1.27	1.40	-0.13
Omega ratio: Gain probability vs. loss probability	1.15	1.17	-0.02
Calmar ratio: Return relative to maximum drawdown	1.45	1.66	-0.21
Martin ratio: Return relative to average drawdown	4.08	4.69	-0.61

DFIP vs. VTP - Sharpe Ratio Comparison

The current DFIP Sharpe Ratio is 0.85, which is comparable to the VTP Sharpe Ratio of 0.96. The chart below compares the historical Sharpe Ratios of DFIP and VTP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DFIP vs. VTP - Drawdown Comparison

The maximum DFIP drawdown since its inception was -14.96%, which is greater than VTP's maximum drawdown of -1.92%. Use the drawdown chart below to compare losses from any high point for DFIP and VTP.

Drawdown Indicators

	DFIP	VTP	Difference
Max Drawdown Largest peak-to-trough decline	-14.96%	-1.92%	-13.04%
Max Drawdown (1Y) Largest decline over 1 year	-2.06%	-1.92%	-0.14%
Max Drawdown (3Y) Largest decline over 3 years	-4.74%	—	—
Current Drawdown Current decline from peak	-1.12%	-0.97%	-0.15%
Average Drawdown Average peak-to-trough decline	-6.80%	-0.53%	-6.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.73%	0.68%	+0.05%

Volatility

DFIP vs. VTP - Volatility Comparison

Dimensional Inflation-Protected Securities ETF (DFIP) has a higher volatility of 1.27% compared to Vanguard Total Inflation-Protected Securities ETF (VTP) at 1.19%. This indicates that DFIP's price experiences larger fluctuations and is considered to be riskier than VTP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DFIP	VTP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.27%	1.19%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	2.59%	2.47%	+0.12%
Volatility (1Y) Calculated over the trailing 1-year period	3.52%	3.35%	+0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.75%	3.33%	+3.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.75%	3.33%	+3.42%

DFIP vs. VTP - Expense Ratio Comparison

DFIP has a 0.11% expense ratio, which is higher than VTP's 0.05% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

DFIP vs. VTP - Dividend Comparison

DFIP's dividend yield for the trailing twelve months is around 4.66%, more than VTP's 2.98% yield.

Position	TTM	2025	2024	2023	2022	2021
DFIP Dimensional Inflation-Protected Securities ETF	4.66%	4.70%	3.69%	3.68%	5.97%	0.56%
VTP Vanguard Total Inflation-Protected Securities ETF	2.98%	1.56%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DFIP and VTP in my portfolio?

With a correlation of 0.96, DFIP and VTP move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, DFIP or VTP?

DFIP has higher volatility (1.27%) compared to VTP (1.19%). In terms of maximum drawdown, DFIP dropped -14.96% vs VTP's -1.92%.

Which ETF is better, DFIP or VTP?

On 1-year performance, VTP leads with 3.18% vs 2.97% for DFIP. On fees, VTP is cheaper at 0.05% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DFIP or VTP?

Over the 1-year period, VTP has performed better with a 3.18% return vs 2.97%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DFIP or VTP?

VTP is cheaper with a 0.05% expense ratio, compared with 0.11% for DFIP.

Which ETF pays a higher dividend yield, DFIP or VTP?

DFIP has the higher dividend yield at 4.66%, compared with 2.98% for VTP.

What is the main difference between DFIP and VTP?

They also come from different issuers: Dimensional and Vanguard. Their fees differ too: 0.11% for DFIP and 0.05% for VTP.

Which has better risk-adjusted returns?

VTP currently has the higher Sharpe Ratio (0.96 vs 0.85), 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.