SPIP vs. VTAPX
Compare and contrast key facts about SPDR Portfolio TIPS ETF (SPIP) and Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX).
SPIP is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays US Government Inflation-linked Bond Index. It was launched on May 25, 2007. VTAPX is managed by Vanguard. It was launched on Oct 16, 2012.
Performance
SPIP vs. VTAPX - Performance Comparison
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SPIP vs. VTAPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SPIP SPDR Portfolio TIPS ETF | 0.27% | 6.78% | 2.35% | 2.98% | -12.84% | 5.80% | 11.41% | 9.14% | -1.53% | 3.16% |
VTAPX Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares | 0.97% | 6.03% | 4.73% | 4.59% | -2.84% | 5.26% | 4.97% | 4.85% | 0.53% | 0.82% |
Returns By Period
In the year-to-date period, SPIP achieves a 0.27% return, which is significantly lower than VTAPX's 0.97% return. Over the past 10 years, SPIP has underperformed VTAPX with an annualized return of 2.53%, while VTAPX has yielded a comparatively higher 3.05% annualized return.
SPIP
- 1D
- -0.06%
- 1M
- -1.48%
- YTD
- 0.27%
- 6M
- 0.20%
- 1Y
- 2.65%
- 3Y*
- 2.91%
- 5Y*
- 1.15%
- 10Y*
- 2.53%
VTAPX
- 1D
- 0.28%
- 1M
- 0.04%
- YTD
- 0.97%
- 6M
- 1.31%
- 1Y
- 3.86%
- 3Y*
- 4.67%
- 5Y*
- 3.48%
- 10Y*
- 3.05%
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SPIP vs. VTAPX - Expense Ratio Comparison
SPIP has a 0.12% expense ratio, which is higher than VTAPX's 0.06% 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%.
Return for Risk
SPIP vs. VTAPX — Risk / Return Rank
SPIP
VTAPX
SPIP vs. VTAPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio TIPS ETF (SPIP) 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.
| SPIP | VTAPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.61 | 2.28 | -1.67 |
Sortino ratioReturn per unit of downside risk | 0.83 | 3.41 | -2.58 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.49 | -0.38 |
Calmar ratioReturn relative to maximum drawdown | 1.05 | 4.65 | -3.60 |
Martin ratioReturn relative to average drawdown | 3.04 | 14.74 | -11.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| SPIP | VTAPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.61 | 2.28 | -1.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | 1.31 | -1.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.42 | 1.37 | -0.95 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 1.04 | -0.52 |
Correlation
The correlation between SPIP and VTAPX is 0.76, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
SPIP vs. VTAPX - Dividend Comparison
SPIP's dividend yield for the trailing twelve months is around 4.05%, more than VTAPX's 3.55% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPIP SPDR Portfolio TIPS ETF | 4.05% | 4.09% | 3.36% | 3.70% | 7.05% | 4.53% | 1.97% | 2.91% | 2.80% | 3.02% | 1.88% | 0.14% |
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% | 0.00% |
Drawdowns
SPIP vs. VTAPX - Drawdown Comparison
The maximum SPIP drawdown since its inception was -15.39%, which is greater than VTAPX's maximum drawdown of -5.33%. Use the drawdown chart below to compare losses from any high point for SPIP and VTAPX.
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Drawdown Indicators
| SPIP | VTAPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.39% | -5.33% | -10.06% |
Max Drawdown (1Y)Largest decline over 1 year | -2.92% | -0.92% | -2.00% |
Max Drawdown (5Y)Largest decline over 5 years | -15.39% | -5.33% | -10.06% |
Max Drawdown (10Y)Largest decline over 10 years | -15.39% | -5.33% | -10.06% |
Current DrawdownCurrent decline from peak | -2.21% | -0.28% | -1.93% |
Average DrawdownAverage peak-to-trough decline | -4.13% | -1.04% | -3.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.01% | 0.29% | +0.72% |
Volatility
SPIP vs. VTAPX - Volatility Comparison
SPDR Portfolio TIPS ETF (SPIP) has a higher volatility of 1.75% compared to Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) at 0.59%. This indicates that SPIP'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.
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Volatility by Period
| SPIP | VTAPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.75% | 0.59% | +1.16% |
Volatility (6M)Calculated over the trailing 6-month period | 2.55% | 0.96% | +1.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.39% | 1.79% | +2.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.59% | 2.67% | +3.92% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.03% | 2.23% | +3.80% |