LTPZ vs. VTIP
LTPZ (PIMCO 15+ Year US TIPS Index ETF) and VTIP (Vanguard Short-Term Inflation-Protected Securities ETF) are both Inflation-Protected Bonds funds - LTPZ tracks the ICE BofA US Inflation-Linked Treasury (15+ Y) while VTIP tracks the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. Both are passively managed. Over the past 10 years, LTPZ returned 0.66%/yr vs 3.09%/yr for VTIP. A 0.56 correlation means they provide meaningful diversification when combined. LTPZ charges 0.20%/yr vs 0.03%/yr for VTIP.
Performance
LTPZ vs. VTIP - Performance Comparison
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Returns By Period
In the year-to-date period, LTPZ achieves a 0.42% return, which is significantly lower than VTIP's 1.89% return. Over the past 10 years, LTPZ has underperformed VTIP with an annualized return of 0.66%, while VTIP has yielded a comparatively higher 3.09% annualized return.
LTPZ
- 1D
- 1.05%
- 1M
- 1.11%
- YTD
- 0.42%
- 6M
- -0.15%
- 1Y
- 4.41%
- 3Y*
- -1.03%
- 5Y*
- -5.52%
- 10Y*
- 0.66%
VTIP
- 1D
- 0.12%
- 1M
- -0.18%
- YTD
- 1.89%
- 6M
- 1.97%
- 1Y
- 4.68%
- 3Y*
- 5.18%
- 5Y*
- 3.38%
- 10Y*
- 3.09%
LTPZ vs. VTIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year US TIPS Index ETF | 0.42% | 4.00% | -4.80% | 0.96% | -31.71% | 7.02% | 24.89% | 17.47% | -7.22% | 9.07% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 1.89% | 6.07% | 4.74% | 4.62% | -2.94% | 5.36% | 4.95% | 4.86% | 0.56% | 0.82% |
Correlation
The correlation between LTPZ and VTIP is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.45 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.61 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 16, 2012 | 0.56 |
The correlation between LTPZ and VTIP shifts across timeframes, from 0.45 (1 year) to 0.61 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
LTPZ vs. VTIP — Risk / Return Rank
LTPZ
VTIP
LTPZ vs. VTIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO 15+ Year US TIPS Index ETF (LTPZ) 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.
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.
| LTPZ | VTIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.66 | ||
| Sortino ratioReturn per unit of downside risk | -4.62 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.67 | -0.58 |
| Calmar ratioReturn relative to maximum drawdown | 0.63 | 6.72 | -6.09 |
| Martin ratioReturn relative to average drawdown | 1.35 | 26.02 | -24.67 |
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Drawdowns
LTPZ vs. VTIP - Drawdown Comparison
The maximum LTPZ drawdown since its inception was -40.99%, which is greater than VTIP's maximum drawdown of -6.27%. Use the drawdown chart below to compare losses from any high point for LTPZ and VTIP.
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Drawdown Indicators
| LTPZ | VTIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -40.99% | -6.27% | -34.72% |
Max Drawdown (1Y)Largest decline over 1 year | -7.00% | -0.70% | -6.30% |
Max Drawdown (3Y)Largest decline over 3 years | -16.27% | -0.98% | -15.29% |
Max Drawdown (5Y)Largest decline over 5 years | -40.99% | -5.50% | -35.49% |
Max Drawdown (10Y)Largest decline over 10 years | -40.99% | -6.27% | -34.72% |
Current DrawdownCurrent decline from peak | -32.73% | -0.18% | -32.55% |
Average DrawdownAverage peak-to-trough decline | -12.43% | -1.04% | -11.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.27% | 0.18% | +3.09% |
Volatility
LTPZ vs. VTIP - Volatility Comparison
PIMCO 15+ Year US TIPS Index ETF (LTPZ) has a higher volatility of 2.55% compared to Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) at 0.40%. This indicates that LTPZ'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
| LTPZ | VTIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.55% | 0.40% | +2.15% |
Volatility (6M)Calculated over the trailing 6-month period | 6.55% | 1.04% | +5.51% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.20% | 1.50% | +7.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.88% | 2.77% | +13.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.07% | 2.74% | +12.33% |
LTPZ vs. VTIP - Expense Ratio Comparison
LTPZ has a 0.20% 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
LTPZ vs. VTIP - Dividend Comparison
LTPZ's dividend yield for the trailing twelve months is around 5.23%, more than VTIP's 3.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LTPZ PIMCO 15+ Year US TIPS Index ETF | 5.23% | 4.64% | 3.71% | 3.71% | 8.38% | 3.56% | 1.42% | 1.74% | 3.05% | 2.25% | 2.32% | 0.71% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 3.59% | 3.81% | 2.70% | 2.86% | 6.84% | 4.68% | 1.20% | 1.95% | 2.45% | 1.52% | 0.76% | 0.00% |
Frequently Asked Questions
LTPZ and VTIP have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
LTPZ has higher volatility (2.55%) compared to VTIP (0.40%). In terms of maximum drawdown, LTPZ dropped -40.99% vs VTIP's -6.27%.
On 10-year performance, VTIP leads with 3.09% vs 0.66% for LTPZ. On fees, VTIP is cheaper at 0.03% per year. On volatility, VTIP has been the lower-risk option at 0.40%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VTIP has performed better with a 3.09% return vs 0.66%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTIP is cheaper with a 0.03% expense ratio, compared with 0.20% for LTPZ.
LTPZ has the higher dividend yield at 5.23%, compared with 3.59% for VTIP.
LTPZ tracks ICE BofA US Inflation-Linked Treasury (15+ Y), while VTIP tracks Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. They also come from different issuers: PIMCO and Vanguard. Their fees differ too: 0.20% for LTPZ and 0.03% for VTIP.
VTIP currently has the higher Sharpe Ratio (3.14 vs 0.48), 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.
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