PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
SPIP vs. VPL
Performance
Return for Risk
Drawdowns
Volatility
Dividends

SPIP vs. VPL

Last updated Jun 3, 2026

SPIP (SPDR Portfolio TIPS ETF) and VPL (Vanguard FTSE Pacific ETF) are both exchange-traded funds - SPIP is a Inflation-Protected Bonds fund tracking the Bloomberg Barclays US Government Inflation-linked Bond Index, while VPL is a Asia Pacific Equities fund tracking the FTSE Developed Asia Pacific Index. Both are passively managed. Over the past 10 years, SPIP returned 2.63%/yr vs 10.87%/yr for VPL. At a correlation of -0.05, they often move in opposite directions. SPIP charges 0.12%/yr vs 0.08%/yr for VPL.

Performance

SPIP vs. VPL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in SPDR Portfolio TIPS ETF (SPIP) and Vanguard FTSE Pacific ETF (VPL). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, SPIP achieves a 1.65% return, which is significantly lower than VPL's 30.65% return. Over the past 10 years, SPIP has underperformed VPL with an annualized return of 2.63%, while VPL has yielded a comparatively higher 10.87% annualized return.

SPIP

1D
-0.02%
1M
-0.02%
YTD
1.65%
6M
1.38%
1Y
5.09%
3Y*
3.91%
5Y*
1.01%
10Y*
2.63%

VPL

1D
0.40%
1M
10.55%
YTD
30.65%
6M
33.92%
1Y
52.92%
3Y*
23.14%
5Y*
10.67%
10Y*
10.87%
*Multi-year figures are annualized to reflect compound growth (CAGR)

SPIP vs. VPL - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
SPIP
SPDR Portfolio TIPS ETF		1.65%6.78%2.35%2.98%-12.84%5.80%11.41%9.14%-1.53%3.16%
VPL
Vanguard FTSE Pacific ETF		30.65%32.66%1.68%15.58%-15.20%1.10%16.65%18.16%-14.40%28.85%

Correlation

The correlation between SPIP and VPL is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.28

Correlation (3Y)
Calculated over the trailing 3-year period

0.27

Correlation (5Y)
Calculated over the trailing 5-year period

0.21

Correlation (10Y)
Calculated over the trailing 10-year period

0.10

Correlation (All Time)
Calculated using the full available price history since May 31, 2007

-0.05

The correlation between SPIP and VPL shifts across timeframes, from -0.05 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

SPDR Portfolio TIPS ETF

Vanguard FTSE Pacific ETF

Often compared with SPIP:
SPIP vs. TIPSPIP vs. VTIPSPIP vs. SCHPSPIP vs. TIPXSPIP vs. FIPDXSPIP vs. TDTTSPIP vs. BKLN
Often compared with VPL:
VPL vs. AAXJVPL vs. VEAVPL vs. VWOVPL vs. IPACVPL vs. VXUSVPL vs. VGKVPL vs. VEU

Return for Risk

SPIP vs. VPL — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
SPIP
SPIP Risk / Return Rank: 4141
Overall Rank
SPIP Sharpe Ratio Rank: 4040
Sharpe Ratio Rank
SPIP Sortino Ratio Rank: 4040
Sortino Ratio Rank
SPIP Omega Ratio Rank: 3939
Omega Ratio Rank
SPIP Calmar Ratio Rank: 4646
Calmar Ratio Rank
SPIP Martin Ratio Rank: 4242
Martin Ratio Rank
VPL
VPL Risk / Return Rank: 8080
Overall Rank
VPL Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
VPL Sortino Ratio Rank: 7878
Sortino Ratio Rank
VPL Omega Ratio Rank: 8181
Omega Ratio Rank
VPL Calmar Ratio Rank: 7979
Calmar Ratio Rank
VPL Martin Ratio Rank: 8181
Martin Ratio Rank
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.

SPIP vs. VPL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio TIPS ETF (SPIP) and Vanguard FTSE Pacific ETF (VPL). 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.

SPIPVPLDifference

Sharpe ratio

Return per unit of total volatility

1.43

2.72

-1.29

Sortino ratio

Return per unit of downside risk

2.09

3.55

-1.46

Omega ratio

Gain probability vs. loss probability

1.26

1.49

-0.23

Calmar ratio

Return relative to maximum drawdown

2.32

4.13

-1.81

Martin ratio

Return relative to average drawdown

6.79

16.33

-9.53

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SPIP vs. VPL - Sharpe Ratio Comparison

The current SPIP Sharpe Ratio is 1.43, which is lower than the VPL Sharpe Ratio of 2.72. The chart below compares the historical Sharpe Ratios of SPIP and VPL, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

SPIPVPLDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

1.43

2.72

-1.29

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.15

0.62

-0.47

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.44

0.63

-0.19

Sharpe Ratio (All Time)

Calculated using the full available price history

0.53

0.34

+0.19

Drawdowns

SPIP vs. VPL - Drawdown Comparison

The maximum SPIP drawdown since its inception was -15.39%, smaller than the maximum VPL drawdown of -55.49%. Use the drawdown chart below to compare losses from any high point for SPIP and VPL.

Loading charts...

Drawdown Indicators

SPIPVPLDifference

Max Drawdown

Largest peak-to-trough decline

-15.39%

-55.49%

+40.10%

Max Drawdown (1Y)

Largest decline over 1 year

-2.04%

-13.33%

+11.29%

Max Drawdown (3Y)

Largest decline over 3 years

-4.76%

-16.35%

+11.59%

Max Drawdown (5Y)

Largest decline over 5 years

-15.39%

-31.09%

+15.70%

Max Drawdown (10Y)

Largest decline over 10 years

-15.39%

-33.90%

+18.51%

Current Drawdown

Current decline from peak

-0.87%

0.00%

-0.87%

Average Drawdown

Average peak-to-trough decline

-4.10%

-11.64%

+7.54%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.70%

3.37%

-2.67%

Volatility

SPIP vs. VPL - Volatility Comparison

The current volatility for SPDR Portfolio TIPS ETF (SPIP) is 0.95%, while Vanguard FTSE Pacific ETF (VPL) has a volatility of 7.31%. This indicates that SPIP experiences smaller price fluctuations and is considered to be less risky than VPL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

SPIPVPLDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.95%

7.31%

-6.36%

Volatility (6M)

Calculated over the trailing 6-month period

2.57%

16.71%

-14.14%

Volatility (1Y)

Calculated over the trailing 1-year period

3.59%

19.58%

-15.99%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.58%

17.29%

-10.71%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

6.01%

17.30%

-11.29%

SPIP vs. VPL - Expense Ratio Comparison

SPIP has a 0.12% expense ratio, which is higher than VPL's 0.08% 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

SPIP vs. VPL - Dividend Comparison

SPIP's dividend yield for the trailing twelve months is around 4.75%, more than VPL's 2.72% yield.

PositionTTM20252024202320222021202020192018201720162015
SPIP
SPDR Portfolio TIPS ETF		4.75%4.09%3.36%3.70%7.05%4.53%1.97%2.91%2.80%3.02%1.88%0.14%
VPL
Vanguard FTSE Pacific ETF		2.72%4.01%3.15%3.12%2.75%3.19%1.81%2.84%3.06%2.57%2.65%2.43%

Frequently Asked Questions

SPIP and VPL have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VPL has higher volatility (7.31%) compared to SPIP (0.95%). In terms of maximum drawdown, SPIP dropped -15.39% vs VPL's -55.49%.

On 10-year performance, VPL leads with 10.87% vs 2.63% for SPIP. On fees, VPL is cheaper at 0.08% per year. On volatility, SPIP has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VPL has performed better with a 10.87% return vs 2.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VPL is cheaper with a 0.08% expense ratio, compared with 0.12% for SPIP.

SPIP has the higher dividend yield at 4.75%, compared with 2.72% for VPL.

SPIP is categorized as Inflation-Protected Bonds, while VPL is Asia Pacific Equities. SPIP tracks Bloomberg Barclays US Government Inflation-linked Bond Index, while VPL tracks FTSE Developed Asia Pacific Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.12% for SPIP and 0.08% for VPL.

VPL currently has the higher Sharpe Ratio (2.72 vs 1.43), 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.

Portfolio Optimizer

Find the right allocation for SPIP and VPL

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer