TIPX vs. VTIP
TIPX (SPDR Bloomberg Barclays 1-10 Year TIPS ETF) and VTIP (Vanguard Short-Term Inflation-Protected Securities ETF) are both Inflation-Protected Bonds funds - TIPX tracks the Bloomberg US Govt Inflation-Linked (1-10 Y) while VTIP tracks the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. Both are passively managed. Over the past 10 years, TIPX returned 2.82%/yr vs 3.03%/yr for VTIP. A 0.72 correlation means they provide meaningful diversification when combined. TIPX charges 0.15%/yr vs 0.03%/yr for VTIP.
Performance
TIPX vs. VTIP - Performance Comparison
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Returns By Period
In the year-to-date period, TIPX achieves a 0.86% return, which is significantly lower than VTIP's 1.34% return. Over the past 10 years, TIPX has underperformed VTIP with an annualized return of 2.82%, while VTIP has yielded a comparatively higher 3.03% annualized return.
TIPX
- 1D
- -0.32%
- 1M
- -0.26%
- YTD
- 0.86%
- 6M
- 1.02%
- 1Y
- 3.61%
- 3Y*
- 4.53%
- 5Y*
- 2.14%
- 10Y*
- 2.82%
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%
TIPX vs. VTIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 0.86% | 7.15% | 3.08% | 4.43% | -7.58% | 5.42% | 8.51% | 6.60% | -0.32% | 2.54% |
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 TIPX and VTIP is 0.87, 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 | 0.87 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.82 |
Correlation (All Time) Calculated using the full available price history since May 30, 2013 | 0.72 |
The correlation between TIPX and VTIP shifts across timeframes, from 0.72 (all time) to 0.92 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
TIPX vs. VTIP — Risk / Return Rank
TIPX
VTIP
TIPX vs. VTIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) 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.
| TIPX | VTIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.96 | ||
| Sortino ratioReturn per unit of downside risk | -1.60 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.47 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 2.81 | 5.12 | -2.32 |
| Martin ratioReturn relative to average drawdown | 8.88 | 18.66 | -9.77 |
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Drawdowns
TIPX vs. VTIP - Drawdown Comparison
The maximum TIPX drawdown since its inception was -10.06%, which is greater than VTIP's maximum drawdown of -6.27%. Use the drawdown chart below to compare losses from any high point for TIPX and VTIP.
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Drawdown Indicators
| TIPX | VTIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.06% | -6.27% | -3.79% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | -0.71% | -0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -2.45% | -0.98% | -1.47% |
Max Drawdown (5Y)Largest decline over 5 years | -10.06% | -5.50% | -4.56% |
Max Drawdown (10Y)Largest decline over 10 years | -10.06% | -6.27% | -3.79% |
Current DrawdownCurrent decline from peak | -1.14% | -0.71% | -0.43% |
Average DrawdownAverage peak-to-trough decline | -2.28% | -1.04% | -1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 0.20% | +0.21% |
Volatility
TIPX vs. VTIP - Volatility Comparison
SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) has a higher volatility of 1.02% compared to Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) at 0.65%. This indicates that TIPX's price experiences larger fluctuations and is considered to be riskier than VTIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIPX | VTIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 0.65% | +0.37% |
Volatility (6M)Calculated over the trailing 6-month period | 1.94% | 1.17% | +0.77% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.67% | 1.58% | +1.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.63% | 2.77% | +1.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.37% | 2.74% | +1.63% |
TIPX vs. VTIP - Expense Ratio Comparison
TIPX has a 0.15% 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
TIPX vs. VTIP - Dividend Comparison
TIPX's dividend yield for the trailing twelve months is around 4.58%, more than VTIP's 3.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 4.58% | 3.78% | 3.57% | 3.57% | 6.08% | 4.26% | 1.73% | 2.53% | 1.90% | 2.84% | 1.04% | 0.06% |
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
TIPX and VTIP have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TIPX has higher volatility (1.02%) compared to VTIP (0.65%). In terms of maximum drawdown, TIPX dropped -10.06% vs VTIP's -6.27%.
On 10-year performance, VTIP leads with 3.03% vs 2.82% for TIPX. On fees, VTIP is cheaper at 0.03% per year. On volatility, VTIP has been the lower-risk option at 0.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VTIP has performed better with a 3.03% return vs 2.82%. 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 0.15% for TIPX.
TIPX has the higher dividend yield at 4.58%, compared with 3.61% for VTIP.
TIPX tracks Bloomberg US Govt Inflation-Linked (1-10 Y), while VTIP tracks Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. They also come from different issuers: State Street and Vanguard. Their fees differ too: 0.15% for TIPX and 0.03% for VTIP.
VTIP currently has the higher Sharpe Ratio (2.32 vs 1.36), 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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