LIAM vs. VTP

Last updated Jul 11, 2026

LIAM (LifeX 2055 Inflation-Protected Longevity Income ETF) and VTP (Vanguard Total Inflation-Protected Securities ETF) are both Inflation-Protected Bonds funds. LIAM is actively managed, while VTP is passively managed. Over the past year, LIAM returned 2.39% vs 3.46% for VTP. Their correlation of 0.91 suggests significant overlap in exposure. LIAM charges 0.25%/yr vs 0.05%/yr for VTP.

Performance

LIAM vs. VTP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in LifeX 2055 Inflation-Protected Longevity Income ETF (LIAM) 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, LIAM achieves a -0.23% return, which is significantly lower than VTP's 1.02% return.

LIAM

• 1D: 0.03%
• 1M: -1.10%
• 6M: -0.76%
• YTD: -0.23%
• 1Y: 2.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VTP

• 1D: 0.03%
• 1M: -0.37%
• 6M: 0.88%
• YTD: 1.02%
• 1Y: 3.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LIAM vs. VTP - Yearly Performance Comparison

	2026 (YTD)	2025
LIAM LifeX 2055 Inflation-Protected Longevity Income ETF	-0.23%	2.66%
VTP Vanguard Total Inflation-Protected Securities ETF	1.02%	2.46%

Correlation

The correlation between LIAM and VTP is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.91

The correlation between LIAM and VTP has been stable across timeframes, ranging from 0.91 to 0.91 - a consistent structural relationship.

Return for Risk

LIAM vs. VTP — Risk / Return Rank

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

LIAM

LIAM Risk / Return Rank: 13
LIAM Sharpe Ratio Rank: 14
LIAM Sortino Ratio Rank: 12
LIAM Omega Ratio Rank: 12
LIAM Calmar Ratio Rank: 15
LIAM Martin Ratio Rank: 14

VTP

VTP Risk / Return Rank: 35
VTP Sharpe Ratio Rank: 33
VTP Sortino Ratio Rank: 32
VTP Omega Ratio Rank: 30
VTP Calmar Ratio Rank: 42
VTP Martin Ratio Rank: 40

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.

LIAM vs. VTP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for LifeX 2055 Inflation-Protected Longevity Income ETF (LIAM) 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.

	LIAM	VTP	Difference
Sharpe ratio: Return per unit of total volatility	0.28	0.98	-0.70
Sortino ratio: Return per unit of downside risk	0.43	1.44	-1.00
Omega ratio: Gain probability vs. loss probability	1.05	1.17	-0.12
Calmar ratio: Return relative to maximum drawdown	0.40	1.71	-1.32
Martin ratio: Return relative to average drawdown	0.89	4.92	-4.03

LIAM vs. VTP - Sharpe Ratio Comparison

The current LIAM Sharpe Ratio is 0.28, which is lower than the VTP Sharpe Ratio of 0.98. The chart below compares the historical Sharpe Ratios of LIAM 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

LIAM vs. VTP - Drawdown Comparison

The maximum LIAM drawdown since its inception was -8.39%, which is greater than VTP's maximum drawdown of -1.92%. Use the drawdown chart below to compare losses from any high point for LIAM and VTP.

Drawdown Indicators

	LIAM	VTP	Difference
Max Drawdown Largest peak-to-trough decline	-8.39%	-1.92%	-6.47%
Max Drawdown (1Y) Largest decline over 1 year	-4.45%	-1.92%	-2.53%
Current Drawdown Current decline from peak	-3.15%	-0.82%	-2.33%
Average Drawdown Average peak-to-trough decline	-3.29%	-0.53%	-2.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.98%	0.67%	+1.31%

Volatility

LIAM vs. VTP - Volatility Comparison

LifeX 2055 Inflation-Protected Longevity Income ETF (LIAM) has a higher volatility of 2.08% compared to Vanguard Total Inflation-Protected Securities ETF (VTP) at 1.23%. This indicates that LIAM'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

	LIAM	VTP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.08%	1.23%	+0.85%
Volatility (6M) Calculated over the trailing 6-month period	4.79%	2.48%	+2.31%
Volatility (1Y) Calculated over the trailing 1-year period	6.37%	3.35%	+3.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.61%	3.35%	+4.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.61%	3.35%	+4.26%

LIAM vs. VTP - Expense Ratio Comparison

LIAM has a 0.25% 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

LIAM vs. VTP - Dividend Comparison

LIAM's dividend yield for the trailing twelve months is around 6.48%, more than VTP's 2.98% yield.

Position	TTM	2025	2024
LIAM LifeX 2055 Inflation-Protected Longevity Income ETF	6.48%	9.02%	1.21%
VTP Vanguard Total Inflation-Protected Securities ETF	2.98%	1.56%	0.00%

Frequently Asked Questions

Can I hold both LIAM and VTP in my portfolio?

With a correlation of 0.91, LIAM 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, LIAM or VTP?

LIAM has higher volatility (2.08%) compared to VTP (1.23%). In terms of maximum drawdown, LIAM dropped -8.39% vs VTP's -1.92%.

Which ETF is better, LIAM or VTP?

On 1-year performance, VTP leads with 3.46% vs 2.39% for LIAM. On fees, VTP is cheaper at 0.05% per year. On volatility, VTP has been the lower-risk option at 1.23%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LIAM or VTP?

Over the 1-year period, VTP has performed better with a 3.46% return vs 2.39%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LIAM or VTP?

VTP is cheaper with a 0.05% expense ratio, compared with 0.25% for LIAM.

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

LIAM has the higher dividend yield at 6.48%, compared with 2.98% for VTP.

What is the main difference between LIAM and VTP?

They also come from different issuers: Stone Ridge and Vanguard. Their fees differ too: 0.25% for LIAM and 0.05% for VTP.

Which has better risk-adjusted returns?

VTP currently has the higher Sharpe Ratio (0.98 vs 0.28), 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.