FCPI vs. VTIP

Last updated Jun 4, 2026

FCPI (Fidelity Stocks for Inflation ETF) and VTIP (Vanguard Short-Term Inflation-Protected Securities ETF) are both exchange-traded funds - FCPI is a Large Cap Blend Equities fund tracking the Fidelity Stocks for Inflation Factor Index, while VTIP is a Inflation-Protected Bonds fund tracking the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. Both are passively managed. Over the past 5 years, FCPI returned 15.12%/yr vs 3.37%/yr for VTIP. At a 0.15 correlation, their price movements are largely independent. FCPI charges 0.15%/yr vs 0.03%/yr for VTIP.

Performance

FCPI vs. VTIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Fidelity Stocks for Inflation ETF (FCPI) 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, FCPI achieves a 11.23% return, which is significantly higher than VTIP's 2.05% return.

FCPI

• 1D: -0.28%
• 1M: 4.20%
• YTD: 11.23%
• 6M: 10.30%
• 1Y: 22.08%
• 3Y*: 21.82%
• 5Y*: 15.12%
• 10Y*: —

VTIP

• 1D: 0.00%
• 1M: 0.04%
• YTD: 2.05%
• 6M: 2.03%
• 1Y: 4.70%
• 3Y*: 5.26%
• 5Y*: 3.37%
• 10Y*: 3.14%

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

FCPI vs. VTIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
FCPI Fidelity Stocks for Inflation ETF	11.23%	16.24%	25.54%	15.40%	-7.11%	34.19%	2.19%	4.43%
VTIP Vanguard Short-Term Inflation-Protected Securities ETF	2.05%	6.07%	4.74%	4.62%	-2.94%	5.36%	4.95%	0.96%

Correlation

The correlation between FCPI and VTIP is -0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (All Time) Calculated using the full available price history since Nov 8, 2019	0.15

The correlation between FCPI and VTIP shifts across timeframes, from -0.03 (1 year) to 0.15 (all time), reflecting how their relationship changes across market environments.

Return for Risk

FCPI vs. VTIP — Risk / Return Rank

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

FCPI

FCPI Risk / Return Rank: 56
FCPI Sharpe Ratio Rank: 54
FCPI Sortino Ratio Rank: 54
FCPI Omega Ratio Rank: 54
FCPI Calmar Ratio Rank: 56
FCPI Martin Ratio Rank: 63

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.

FCPI vs. VTIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Fidelity Stocks for Inflation ETF (FCPI) 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.

	FCPI	VTIP	Difference
Sharpe ratio: Return per unit of total volatility	1.89	3.15	-1.26
Sortino ratio: Return per unit of downside risk	2.62	5.36	-2.73
Omega ratio: Gain probability vs. loss probability	1.34	1.67	-0.33
Calmar ratio: Return relative to maximum drawdown	2.82	6.75	-3.93
Martin ratio: Return relative to average drawdown	11.56	26.06	-14.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FCPI vs. VTIP - Sharpe Ratio Comparison

The current FCPI Sharpe Ratio is 1.89, which is lower than the VTIP Sharpe Ratio of 3.15. The chart below compares the historical Sharpe Ratios of FCPI 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

	FCPI	VTIP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.89	3.15	-1.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.91	1.22	-0.31
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.15	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.74	0.89	-0.15

Drawdowns

FCPI vs. VTIP - Drawdown Comparison

The maximum FCPI drawdown since its inception was -37.26%, which is greater than VTIP's maximum drawdown of -6.27%. Use the drawdown chart below to compare losses from any high point for FCPI and VTIP.

Drawdown Indicators

	FCPI	VTIP	Difference
Max Drawdown Largest peak-to-trough decline	-37.26%	-6.27%	-30.99%
Max Drawdown (1Y) Largest decline over 1 year	-7.88%	-0.70%	-7.18%
Max Drawdown (3Y) Largest decline over 3 years	-17.44%	-0.98%	-16.46%
Max Drawdown (5Y) Largest decline over 5 years	-18.25%	-5.50%	-12.75%
Max Drawdown (10Y) Largest decline over 10 years	—	-6.27%	—
Current Drawdown Current decline from peak	-0.28%	-0.02%	-0.26%
Average Drawdown Average peak-to-trough decline	-4.38%	-1.04%	-3.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	0.18%	+1.74%

Volatility

FCPI vs. VTIP - Volatility Comparison

Fidelity Stocks for Inflation ETF (FCPI) has a higher volatility of 3.75% compared to Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) at 0.43%. This indicates that FCPI'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

	FCPI	VTIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.75%	0.43%	+3.32%
Volatility (6M) Calculated over the trailing 6-month period	9.29%	1.02%	+8.27%
Volatility (1Y) Calculated over the trailing 1-year period	11.73%	1.50%	+10.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.66%	2.77%	+13.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.13%	2.74%	+17.39%

FCPI vs. VTIP - Expense Ratio Comparison

FCPI has a 0.15% expense ratio, which is higher than VTIP's 0.03% 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

FCPI vs. VTIP - Dividend Comparison

FCPI's dividend yield for the trailing twelve months is around 1.61%, less than VTIP's 3.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FCPI Fidelity Stocks for Inflation ETF	1.61%	1.74%	1.29%	1.88%	1.77%	1.19%	3.53%	0.43%	0.00%	0.00%	0.00%
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%

Frequently Asked Questions

Can I hold both FCPI and VTIP in my portfolio?

FCPI and VTIP have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FCPI or VTIP?

FCPI has higher volatility (3.75%) compared to VTIP (0.43%). In terms of maximum drawdown, FCPI dropped -37.26% vs VTIP's -6.27%.

Which ETF is better, FCPI or VTIP?

On 5-year performance, FCPI leads with 15.12% vs 3.37% for VTIP. On fees, VTIP is cheaper at 0.03% per year. On volatility, VTIP has been the lower-risk option at 0.43%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FCPI or VTIP?

Over the 5-year period, FCPI has performed better with a 15.12% return vs 3.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FCPI or VTIP?

VTIP is cheaper with a 0.03% expense ratio, compared with 0.15% for FCPI.

Which ETF pays a higher dividend yield, FCPI or VTIP?

VTIP has the higher dividend yield at 3.58%, compared with 1.61% for FCPI.

What is the main difference between FCPI and VTIP?

FCPI is categorized as Large Cap Blend Equities, while VTIP is Inflation-Protected Bonds. FCPI tracks Fidelity Stocks for Inflation Factor Index, while VTIP tracks Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. They also come from different issuers: Fidelity and Vanguard. Their fees differ too: 0.15% for FCPI and 0.03% for VTIP.

Which has better risk-adjusted returns?

VTIP currently has the higher Sharpe Ratio (3.15 vs 1.89), 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.