IVOL vs. VTIP
Compare and contrast key facts about Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) and Vanguard Short-Term Inflation-Protected Securities ETF (VTIP).
IVOL and VTIP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. IVOL is an actively managed fund by CICC. It was launched on May 13, 2019. VTIP is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. It was launched on Oct 12, 2012.
Performance
IVOL vs. VTIP - Performance Comparison
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IVOL vs. VTIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | -2.15% | 11.97% | -11.07% | -5.18% | -12.69% | -0.31% | 14.56% | 3.23% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 0.87% | 6.07% | 4.74% | 4.62% | -2.94% | 5.36% | 4.95% | 2.68% |
Returns By Period
In the year-to-date period, IVOL achieves a -2.15% return, which is significantly lower than VTIP's 0.87% return.
IVOL
- 1D
- -0.69%
- 1M
- -1.66%
- YTD
- -2.15%
- 6M
- -2.53%
- 1Y
- 3.23%
- 3Y*
- -3.05%
- 5Y*
- -4.75%
- 10Y*
- —
VTIP
- 1D
- -0.11%
- 1M
- 0.03%
- YTD
- 0.87%
- 6M
- 1.15%
- 1Y
- 3.80%
- 3Y*
- 4.62%
- 5Y*
- 3.46%
- 10Y*
- 3.05%
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IVOL vs. VTIP - Expense Ratio Comparison
IVOL has a 0.99% expense ratio, which is higher than VTIP's 0.03% expense ratio.
Return for Risk
IVOL vs. VTIP — Risk / Return Rank
IVOL
VTIP
IVOL vs. VTIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) 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.
| IVOL | VTIP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.31 | 2.01 | -1.70 |
Sortino ratioReturn per unit of downside risk | 0.55 | 3.03 | -2.48 |
Omega ratioGain probability vs. loss probability | 1.07 | 1.42 | -0.35 |
Calmar ratioReturn relative to maximum drawdown | 0.46 | 3.90 | -3.44 |
Martin ratioReturn relative to average drawdown | 0.88 | 12.53 | -11.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| IVOL | VTIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.31 | 2.01 | -1.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.37 | 1.25 | -1.62 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 1.12 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.06 | 0.87 | -0.93 |
Correlation
The correlation between IVOL and VTIP is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
IVOL vs. VTIP - Dividend Comparison
IVOL's dividend yield for the trailing twelve months is around 3.75%, more than VTIP's 3.63% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
IVOL Quadratic Interest Rate Volatility & Inflation Hedge ETF | 3.75% | 3.61% | 3.83% | 3.73% | 3.92% | 3.93% | 3.44% | 2.02% | 0.00% | 0.00% | 0.00% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 3.63% | 3.81% | 2.70% | 2.86% | 6.84% | 4.68% | 1.20% | 1.95% | 2.45% | 1.52% | 0.76% |
Drawdowns
IVOL vs. VTIP - Drawdown Comparison
The maximum IVOL drawdown since its inception was -31.16%, which is greater than VTIP's maximum drawdown of -6.27%. Use the drawdown chart below to compare losses from any high point for IVOL and VTIP.
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Drawdown Indicators
| IVOL | VTIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -31.16% | -6.27% | -24.89% |
Max Drawdown (1Y)Largest decline over 1 year | -6.72% | -0.98% | -5.74% |
Max Drawdown (5Y)Largest decline over 5 years | -31.16% | -5.50% | -25.66% |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.27% | — |
Current DrawdownCurrent decline from peak | -23.04% | -0.37% | -22.67% |
Average DrawdownAverage peak-to-trough decline | -13.03% | -1.05% | -11.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.52% | 0.30% | +3.22% |
Volatility
IVOL vs. VTIP - Volatility Comparison
Quadratic Interest Rate Volatility & Inflation Hedge ETF (IVOL) has a higher volatility of 2.43% compared to Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) at 0.62%. This indicates that IVOL'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.
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Volatility by Period
| IVOL | VTIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.43% | 0.62% | +1.81% |
Volatility (6M)Calculated over the trailing 6-month period | 4.46% | 0.98% | +3.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.43% | 1.90% | +8.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.82% | 2.78% | +10.04% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.11% | 2.74% | +9.37% |