ICPI vs. VTP

Last updated Jun 4, 2026

ICPI (iShares 0-1 Year TIPS Bond ETF) and VTP (Vanguard Total Inflation-Protected Securities ETF) are both Inflation-Protected Bonds funds - ICPI tracks the ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index while VTP tracks the ICE U.S. Treasury Inflation Linked Bond Index 0-5. Both are passively managed. At a correlation of -0.10, they often move in opposite directions. ICPI charges 0.09%/yr vs 0.05%/yr for VTP.

Performance

ICPI vs. VTP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in iShares 0-1 Year TIPS Bond ETF (ICPI) and Vanguard Total Inflation-Protected Securities ETF (VTP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, ICPI achieves a 2.70% return, which is significantly higher than VTP's 1.55% return.

ICPI

• 1D: 0.05%
• 1M: 0.44%
• YTD: 2.70%
• 6M: 2.76%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VTP

• 1D: -0.16%
• 1M: -0.08%
• YTD: 1.55%
• 6M: 1.09%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ICPI vs. VTP - Yearly Performance Comparison

	2026 (YTD)	2025
ICPI iShares 0-1 Year TIPS Bond ETF	2.70%	0.32%
VTP Vanguard Total Inflation-Protected Securities ETF	1.55%	-0.12%

Correlation

The correlation between ICPI and VTP is -0.10, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025	-0.10

Return for Risk

ICPI vs. VTP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for iShares 0-1 Year TIPS Bond ETF (ICPI) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	ICPI	VTP	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	6.20	1.31	+4.89

Drawdowns

ICPI vs. VTP - Drawdown Comparison

The maximum ICPI drawdown since its inception was -0.22%, smaller than the maximum VTP drawdown of -1.92%. Use the drawdown chart below to compare losses from any high point for ICPI and VTP.

Drawdown Indicators

	ICPI	VTP	Difference
Max Drawdown Largest peak-to-trough decline	-0.22%	-1.92%	+1.70%
Current Drawdown Current decline from peak	0.00%	-0.30%	+0.30%
Average Drawdown Average peak-to-trough decline	-0.03%	-0.52%	+0.49%

Volatility

Volatility by Period

	ICPI	VTP	Difference
Volatility (1Y) Calculated over the trailing 1-year period	0.95%	3.26%	-2.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.95%	3.26%	-2.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.95%	3.26%	-2.31%

ICPI vs. VTP - Expense Ratio Comparison

ICPI has a 0.09% 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

ICPI vs. VTP - Dividend Comparison

ICPI's dividend yield for the trailing twelve months is around 1.80%, more than VTP's 1.61% yield.

Position	TTM	2025
ICPI iShares 0-1 Year TIPS Bond ETF	1.80%	0.54%
VTP Vanguard Total Inflation-Protected Securities ETF	1.61%	1.56%

Frequently Asked Questions

Can I hold both ICPI and VTP in my portfolio?

ICPI and VTP have a correlation of -0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ICPI or VTP?

On fees, VTP is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ICPI or VTP?

VTP is cheaper with a 0.05% expense ratio, compared with 0.09% for ICPI.

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

ICPI has the higher dividend yield at 1.80%, compared with 1.61% for VTP.

What is the main difference between ICPI and VTP?

ICPI tracks ICE U.S. Treasury 0-1 Year Inflation Linked Bond Index, while VTP tracks ICE U.S. Treasury Inflation Linked Bond Index 0-5. They also come from different issuers: iShares and Vanguard. Their fees differ too: 0.09% for ICPI and 0.05% for VTP.