PBTP vs. VTIP
PBTP (Invesco PureBeta 0-5 Yr US TIPS ETF) and VTIP (Vanguard Short-Term Inflation-Protected Securities ETF) are both Inflation-Protected Bonds funds - PBTP tracks the ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y) while VTIP tracks the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. Both are passively managed. Over the past 5 years, PBTP returned 3.22%/yr vs 3.26%/yr for VTIP. Their correlation of 0.86 suggests significant overlap in exposure. PBTP charges 0.07%/yr vs 0.03%/yr for VTIP.
Performance
PBTP vs. VTIP - Performance Comparison
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Returns By Period
In the year-to-date period, PBTP achieves a 1.42% return, which is significantly higher than VTIP's 1.34% return.
PBTP
- 1D
- -0.18%
- 1M
- -0.30%
- YTD
- 1.42%
- 6M
- 1.44%
- 1Y
- 3.62%
- 3Y*
- 4.97%
- 5Y*
- 3.22%
- 10Y*
- —
VTIP
- 1D
- -0.18%
- 1M
- -0.24%
- YTD
- 1.34%
- 6M
- 1.46%
- 1Y
- 3.64%
- 3Y*
- 5.00%
- 5Y*
- 3.26%
- 10Y*
- 3.03%
PBTP vs. VTIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 1.42% | 5.98% | 4.72% | 4.53% | -3.02% | 5.51% | 4.89% | 4.72% | 0.59% | 0.04% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 1.34% | 6.07% | 4.74% | 4.62% | -2.94% | 5.36% | 4.95% | 4.86% | 0.56% | 0.23% |
Correlation
The correlation between PBTP and VTIP is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2017 | 0.86 |
The correlation between PBTP and VTIP has been stable across timeframes, ranging from 0.86 to 0.95 - a consistent structural relationship.
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Return for Risk
PBTP vs. VTIP — Risk / Return Rank
PBTP
VTIP
PBTP vs. VTIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) 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.
| PBTP | VTIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.07 | ||
| Sortino ratioReturn per unit of downside risk | -0.18 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.47 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 4.98 | 5.12 | -0.14 |
| Martin ratioReturn relative to average drawdown | 17.63 | 18.66 | -1.03 |
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Drawdowns
PBTP vs. VTIP - Drawdown Comparison
The maximum PBTP drawdown since its inception was -5.44%, smaller than the maximum VTIP drawdown of -6.27%. Use the drawdown chart below to compare losses from any high point for PBTP and VTIP.
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Drawdown Indicators
| PBTP | VTIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.44% | -6.27% | +0.83% |
Max Drawdown (1Y)Largest decline over 1 year | -0.73% | -0.71% | -0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -1.03% | -0.98% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -5.44% | -5.50% | +0.06% |
Max Drawdown (10Y)Largest decline over 10 years | — | -6.27% | — |
Current DrawdownCurrent decline from peak | -0.73% | -0.71% | -0.02% |
Average DrawdownAverage peak-to-trough decline | -0.75% | -1.04% | +0.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.20% | +0.01% |
Volatility
PBTP vs. VTIP - Volatility Comparison
Invesco PureBeta 0-5 Yr US TIPS ETF (PBTP) and Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) have volatilities of 0.63% and 0.65%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PBTP | VTIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.63% | 0.65% | -0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.17% | 1.17% | 0.00% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.62% | 1.58% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.85% | 2.77% | +0.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.64% | 2.74% | -0.10% |
PBTP vs. VTIP - Expense Ratio Comparison
PBTP has a 0.07% 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
PBTP vs. VTIP - Dividend Comparison
PBTP's dividend yield for the trailing twelve months is around 5.86%, more than VTIP's 3.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
PBTP Invesco PureBeta 0-5 Yr US TIPS ETF | 5.86% | 3.82% | 2.59% | 2.36% | 5.33% | 3.12% | 1.25% | 2.12% | 2.33% | 0.73% | 0.00% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 3.61% | 3.81% | 2.70% | 2.86% | 6.84% | 4.68% | 1.20% | 1.95% | 2.45% | 1.52% | 0.76% |
Frequently Asked Questions
PBTP and VTIP have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTIP has higher volatility (0.65%) compared to PBTP (0.63%). In terms of maximum drawdown, PBTP dropped -5.44% vs VTIP's -6.27%.
On 5-year performance, VTIP leads with 3.26% vs 3.22% for PBTP. On fees, VTIP is cheaper at 0.03% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VTIP has performed better with a 3.26% return vs 3.22%. 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 0.07% for PBTP.
PBTP has the higher dividend yield at 5.86%, compared with 3.61% for VTIP.
PBTP tracks ICE BofA U.S. Treasuries Inflation-Linked (0-5 Y), while VTIP tracks Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. They also come from different issuers: Invesco and Vanguard. Their fees differ too: 0.07% for PBTP and 0.03% for VTIP.
VTIP currently has the higher Sharpe Ratio (2.32 vs 2.25), 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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