PQTSX vs. VTAPX

Last updated Jun 3, 2026

PQTSX (PGIM TIPS Fund) and VTAPX (Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares) are both Inflation-Protected Bonds funds. Over the past 5 years, PQTSX returned 0.86%/yr vs 3.35%/yr for VTAPX. A 0.75 correlation means they provide meaningful diversification when combined. PQTSX charges 0.39%/yr vs 0.06%/yr for VTAPX.

Performance

PQTSX vs. VTAPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM TIPS Fund (PQTSX) and Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, PQTSX achieves a 1.83% return, which is significantly lower than VTAPX's 2.05% return.

PQTSX

• 1D: 0.00%
• 1M: 0.07%
• YTD: 1.83%
• 6M: 1.51%
• 1Y: 5.14%
• 3Y*: 3.72%
• 5Y*: 0.86%
• 10Y*: —

VTAPX

• 1D: 0.12%
• 1M: 0.12%
• YTD: 2.05%
• 6M: 2.12%
• 1Y: 4.60%
• 3Y*: 5.23%
• 5Y*: 3.35%
• 10Y*: 3.13%

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

PQTSX vs. VTAPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PQTSX PGIM TIPS Fund	1.83%	6.58%	1.74%	2.34%	-13.56%	7.91%	10.20%	8.19%	-1.64%	0.92%
VTAPX Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares	2.05%	6.03%	4.73%	4.59%	-2.84%	5.26%	4.97%	4.85%	0.53%	0.82%

Correlation

The correlation between PQTSX and VTAPX is 0.66, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.66
Correlation (3Y) Calculated over the trailing 3-year period	0.77
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.75

The correlation between PQTSX and VTAPX shifts across timeframes, from 0.66 (1 year) to 0.77 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

PQTSX vs. VTAPX — Risk / Return Rank

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

PQTSX

PQTSX Risk / Return Rank: 28
PQTSX Sharpe Ratio Rank: 19
PQTSX Sortino Ratio Rank: 22
PQTSX Omega Ratio Rank: 20
PQTSX Calmar Ratio Rank: 42
PQTSX Martin Ratio Rank: 36

VTAPX

VTAPX Risk / Return Rank: 94
VTAPX Sharpe Ratio Rank: 91
VTAPX Sortino Ratio Rank: 94
VTAPX Omega Ratio Rank: 89
VTAPX Calmar Ratio Rank: 96
VTAPX Martin Ratio Rank: 97

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.

PQTSX vs. VTAPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM TIPS Fund (PQTSX) and Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX). 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.

	PQTSX	VTAPX	Difference
Sharpe ratio Return per unit of total volatility	1.25	3.01	-1.75
Sortino ratio Return per unit of downside risk	1.98	4.97	-2.99
Omega ratio Gain probability vs. loss probability	1.24	1.64	-0.40
Calmar ratio Return relative to maximum drawdown	2.49	6.54	-4.05
Martin ratio Return relative to average drawdown	8.11	25.76	-17.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

PQTSX vs. VTAPX - Sharpe Ratio Comparison

The current PQTSX Sharpe Ratio is 1.25, which is lower than the VTAPX Sharpe Ratio of 3.01. The chart below compares the historical Sharpe Ratios of PQTSX and VTAPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	PQTSX	VTAPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	3.01	-1.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	1.26	-1.12
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	1.07	-0.65

Drawdowns

PQTSX vs. VTAPX - Drawdown Comparison

The maximum PQTSX drawdown since its inception was -16.40%, which is greater than VTAPX's maximum drawdown of -5.33%. Use the drawdown chart below to compare losses from any high point for PQTSX and VTAPX.

Drawdown Indicators

	PQTSX	VTAPX	Difference
Max Drawdown Largest peak-to-trough decline	-16.40%	-5.33%	-11.07%
Max Drawdown (1Y) Largest decline over 1 year	-2.23%	-0.72%	-1.51%
Max Drawdown (3Y) Largest decline over 3 years	-4.53%	-0.92%	-3.61%
Max Drawdown (5Y) Largest decline over 5 years	-16.40%	-5.33%	-11.07%
Max Drawdown (10Y) Largest decline over 10 years	—	-5.33%	—
Current Drawdown Current decline from peak	-2.67%	-0.04%	-2.63%
Average Drawdown Average peak-to-trough decline	-4.88%	-1.03%	-3.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	0.18%	+0.50%

Volatility

PQTSX vs. VTAPX - Volatility Comparison

PGIM TIPS Fund (PQTSX) has a higher volatility of 1.57% compared to Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) at 0.57%. This indicates that PQTSX's price experiences larger fluctuations and is considered to be riskier than VTAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	PQTSX	VTAPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.57%	0.57%	+1.00%
Volatility (6M) Calculated over the trailing 6-month period	2.81%	1.11%	+1.70%
Volatility (1Y) Calculated over the trailing 1-year period	3.82%	1.53%	+2.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.34%	2.67%	+3.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.68%	2.23%	+3.45%

PQTSX vs. VTAPX - Expense Ratio Comparison

PQTSX has a 0.39% expense ratio, which is higher than VTAPX's 0.06% expense ratio.

Dividends

PQTSX vs. VTAPX - Dividend Comparison

PQTSX's dividend yield for the trailing twelve months is around 5.04%, more than VTAPX's 3.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
PQTSX PGIM TIPS Fund	5.04%	4.95%	4.39%	3.25%	6.51%	9.54%	2.60%	2.48%	3.26%	1.11%	0.00%
VTAPX Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares	3.55%	3.78%	2.68%	2.84%	6.82%	4.67%	1.19%	1.94%	2.45%	1.52%	0.76%

Frequently Asked Questions

Can I hold both PQTSX and VTAPX in my portfolio?

PQTSX and VTAPX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PQTSX or VTAPX?

PQTSX has higher volatility (1.57%) compared to VTAPX (0.57%). In terms of maximum drawdown, PQTSX dropped -16.40% vs VTAPX's -5.33%.

Which has better risk-adjusted returns?

VTAPX currently has the higher Sharpe Ratio (3.00 vs 1.25), 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.