RPHIX vs. VTIP

Last updated Jun 23, 2026

RPHIX (RiverPark Short Term High Yield Fund) and VTIP (Vanguard Short-Term Inflation-Protected Securities ETF) are both funds - RPHIX is a High Yield Bonds fund managed by RiverPark Funds, while VTIP is a Inflation-Protected Bonds fund tracking the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. Over the past 10 years, RPHIX returned 3.51%/yr vs 3.03%/yr for VTIP. At a 0.05 correlation, their price movements are largely independent. RPHIX charges 0.89%/yr vs 0.03%/yr for VTIP.

Performance

RPHIX vs. VTIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in RiverPark Short Term High Yield Fund (RPHIX) and Vanguard Short-Term Inflation-Protected Securities ETF (VTIP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RPHIX achieves a 1.76% return, which is significantly higher than VTIP's 1.34% return. Over the past 10 years, RPHIX has outperformed VTIP with an annualized return of 3.51%, while VTIP has yielded a comparatively lower 3.03% annualized return.

RPHIX

• 1D: 0.00%
• 1M: 0.22%
• YTD: 1.76%
• 6M: 1.89%
• 1Y: 4.39%
• 3Y*: 5.57%
• 5Y*: 4.61%
• 10Y*: 3.51%

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%

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

RPHIX vs. VTIP - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RPHIX RiverPark Short Term High Yield Fund	1.76%	4.76%	6.71%	5.87%	2.97%	2.05%	1.95%	2.77%	2.44%	2.50%
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%	0.82%

Correlation

The correlation between RPHIX and VTIP is 0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.06
Correlation (3Y) Calculated over the trailing 3-year period	-0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.06
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Oct 16, 2012	0.05

Return for Risk

RPHIX vs. VTIP — Risk / Return Rank

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

RPHIX

RPHIX Risk / Return Rank: 99
RPHIX Sharpe Ratio Rank: 99
RPHIX Sortino Ratio Rank: 99
RPHIX Omega Ratio Rank: 99
RPHIX Calmar Ratio Rank: 100
RPHIX Martin Ratio Rank: 100

VTIP

VTIP Risk / Return Rank: 84
VTIP Sharpe Ratio Rank: 75
VTIP Sortino Ratio Rank: 85
VTIP Omega Ratio Rank: 83
VTIP Calmar Ratio Rank: 89
VTIP Martin Ratio Rank: 88

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.

RPHIX vs. VTIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for RiverPark Short Term High Yield Fund (RPHIX) 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.

	RPHIX	VTIP	Difference
Sharpe ratio: Return per unit of total volatility	4.90	2.32	+2.58
Sortino ratio: Return per unit of downside risk	10.15	3.64	+6.51
Omega ratio: Gain probability vs. loss probability	3.46	1.47	+1.98
Calmar ratio: Return relative to maximum drawdown	41.59	5.12	+36.47
Martin ratio: Return relative to average drawdown	105.77	18.66	+87.11

RPHIX vs. VTIP - Sharpe Ratio Comparison

The current RPHIX Sharpe Ratio is 4.90, which is higher than the VTIP Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of RPHIX and VTIP, 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

RPHIX vs. VTIP - Drawdown Comparison

The maximum RPHIX drawdown since its inception was -3.16%, smaller than the maximum VTIP drawdown of -6.27%. Use the drawdown chart below to compare losses from any high point for RPHIX and VTIP.

Drawdown Indicators

	RPHIX	VTIP	Difference
Max Drawdown Largest peak-to-trough decline	-3.16%	-6.27%	+3.11%
Max Drawdown (1Y) Largest decline over 1 year	-0.10%	-0.71%	+0.61%
Max Drawdown (3Y) Largest decline over 3 years	-0.72%	-0.98%	+0.26%
Max Drawdown (5Y) Largest decline over 5 years	-0.92%	-5.50%	+4.58%
Max Drawdown (10Y) Largest decline over 10 years	-3.16%	-6.27%	+3.11%
Current Drawdown Current decline from peak	0.00%	-0.71%	+0.71%
Average Drawdown Average peak-to-trough decline	-0.09%	-1.04%	+0.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.04%	0.20%	-0.16%

Volatility

RPHIX vs. VTIP - Volatility Comparison

The current volatility for RiverPark Short Term High Yield Fund (RPHIX) is 0.21%, while Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) has a volatility of 0.65%. This indicates that RPHIX experiences smaller price fluctuations and is considered to be less risky than VTIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RPHIX	VTIP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.21%	0.65%	-0.44%
Volatility (6M) Calculated over the trailing 6-month period	0.59%	1.17%	-0.58%
Volatility (1Y) Calculated over the trailing 1-year period	0.88%	1.58%	-0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.26%	2.77%	-1.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.20%	2.74%	-1.54%

RPHIX vs. VTIP - Expense Ratio Comparison

RPHIX has a 0.89% expense ratio, which is higher than VTIP's 0.03% expense ratio.

Dividends

RPHIX vs. VTIP - Dividend Comparison

RPHIX's dividend yield for the trailing twelve months is around 4.08%, more than VTIP's 3.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RPHIX RiverPark Short Term High Yield Fund	4.08%	4.76%	6.40%	5.08%	3.46%	2.03%	2.44%	2.85%	2.83%	2.68%	2.63%	3.19%
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%	0.00%

Frequently Asked Questions

Can I hold both RPHIX and VTIP in my portfolio?

RPHIX and VTIP have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RPHIX or VTIP?

VTIP has higher volatility (0.65%) compared to RPHIX (0.21%). In terms of maximum drawdown, RPHIX dropped -3.16% vs VTIP's -6.27%.

Which has better risk-adjusted returns?

RPHIX currently has the higher Sharpe Ratio (4.90 vs 2.32), 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.