TLDTX vs. VTIPX

Last updated Jun 4, 2026

TLDTX (T. Rowe Price U.S. Limited Duration TIPS Index Fund) and VTIPX (Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares) are both Inflation-Protected Bonds funds. Over the past 5 years, TLDTX returned 1.92%/yr vs 3.29%/yr for VTIPX. Their correlation of 0.89 suggests significant overlap in exposure. TLDTX charges 0.21%/yr vs 0.14%/yr for VTIPX.

Performance

TLDTX vs. VTIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price U.S. Limited Duration TIPS Index Fund (TLDTX) and Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares (VTIPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TLDTX achieves a 1.81% return, which is significantly lower than VTIPX's 1.99% return.

TLDTX

• 1D: 0.00%
• 1M: -0.10%
• YTD: 1.81%
• 6M: 1.84%
• 1Y: 4.44%
• 3Y*: 3.87%
• 5Y*: 1.92%
• 10Y*: —

VTIPX

• 1D: 0.00%
• 1M: -0.00%
• YTD: 1.99%
• 6M: 1.96%
• 1Y: 4.60%
• 3Y*: 5.15%
• 5Y*: 3.29%
• 10Y*: 3.05%

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

TLDTX vs. VTIPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
TLDTX T. Rowe Price U.S. Limited Duration TIPS Index Fund	1.81%	6.32%	1.16%	3.23%	-4.84%	5.08%	1.50%
VTIPX Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares	1.99%	5.96%	4.65%	4.51%	-2.93%	5.21%	1.23%

Correlation

The correlation between TLDTX and VTIPX is 0.81, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Nov 18, 2020	0.89

The correlation between TLDTX and VTIPX has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.

Return for Risk

TLDTX vs. VTIPX — Risk / Return Rank

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

TLDTX

TLDTX Risk / Return Rank: 19
TLDTX Sharpe Ratio Rank: 12
TLDTX Sortino Ratio Rank: 12
TLDTX Omega Ratio Rank: 50
TLDTX Calmar Ratio Rank: 15
TLDTX Martin Ratio Rank: 9

VTIPX

VTIPX Risk / Return Rank: 93
VTIPX Sharpe Ratio Rank: 90
VTIPX Sortino Ratio Rank: 95
VTIPX Omega Ratio Rank: 89
VTIPX Calmar Ratio Rank: 96
VTIPX Martin Ratio Rank: 96

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.

TLDTX vs. VTIPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price U.S. Limited Duration TIPS Index Fund (TLDTX) and Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares (VTIPX). 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.

	TLDTX	VTIPX	Difference
Sharpe ratio: Return per unit of total volatility	0.92	2.97	-2.06
Sortino ratio: Return per unit of downside risk	1.38	4.98	-3.61
Omega ratio: Gain probability vs. loss probability	1.39	1.62	-0.24
Calmar ratio: Return relative to maximum drawdown	1.33	6.27	-4.94
Martin ratio: Return relative to average drawdown	2.59	24.45	-21.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TLDTX vs. VTIPX - Sharpe Ratio Comparison

The current TLDTX Sharpe Ratio is 0.92, which is lower than the VTIPX Sharpe Ratio of 2.97. The chart below compares the historical Sharpe Ratios of TLDTX and VTIPX, 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

	TLDTX	VTIPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.92	2.97	-2.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.41	1.24	-0.83
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.38	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.56	1.03	-0.47

Drawdowns

TLDTX vs. VTIPX - Drawdown Comparison

The maximum TLDTX drawdown since its inception was -7.24%, which is greater than VTIPX's maximum drawdown of -5.36%. Use the drawdown chart below to compare losses from any high point for TLDTX and VTIPX.

Drawdown Indicators

	TLDTX	VTIPX	Difference
Max Drawdown Largest peak-to-trough decline	-7.24%	-5.36%	-1.88%
Max Drawdown (1Y) Largest decline over 1 year	-3.28%	-0.72%	-2.56%
Max Drawdown (3Y) Largest decline over 3 years	-4.50%	-0.95%	-3.55%
Max Drawdown (5Y) Largest decline over 5 years	-7.24%	-5.36%	-1.88%
Max Drawdown (10Y) Largest decline over 10 years	—	-5.36%	—
Current Drawdown Current decline from peak	-1.18%	-0.04%	-1.14%
Average Drawdown Average peak-to-trough decline	-2.27%	-1.11%	-1.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.68%	0.18%	+1.50%

Volatility

TLDTX vs. VTIPX - Volatility Comparison

T. Rowe Price U.S. Limited Duration TIPS Index Fund (TLDTX) has a higher volatility of 0.69% compared to Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares (VTIPX) at 0.53%. This indicates that TLDTX's price experiences larger fluctuations and is considered to be riskier than VTIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TLDTX	VTIPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.69%	0.53%	+0.16%
Volatility (6M) Calculated over the trailing 6-month period	1.38%	1.09%	+0.29%
Volatility (1Y) Calculated over the trailing 1-year period	4.75%	1.51%	+3.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.66%	2.66%	+2.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.48%	2.22%	+2.26%

TLDTX vs. VTIPX - Expense Ratio Comparison

TLDTX has a 0.21% expense ratio, which is higher than VTIPX's 0.14% 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

TLDTX vs. VTIPX - Dividend Comparison

TLDTX's dividend yield for the trailing twelve months is around 4.47%, more than VTIPX's 3.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
TLDTX T. Rowe Price U.S. Limited Duration TIPS Index Fund	4.47%	4.66%	1.63%	4.09%	6.45%	4.11%	0.00%	0.00%	0.00%	0.00%	0.00%
VTIPX Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares	3.48%	3.70%	2.60%	2.76%	6.74%	4.59%	1.11%	1.88%	2.37%	1.50%	0.55%

Frequently Asked Questions

Can I hold both TLDTX and VTIPX in my portfolio?

TLDTX and VTIPX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TLDTX or VTIPX?

TLDTX has higher volatility (0.69%) compared to VTIPX (0.53%). In terms of maximum drawdown, TLDTX dropped -7.24% vs VTIPX's -5.36%.

Which has better risk-adjusted returns?

VTIPX currently has the higher Sharpe Ratio (2.97 vs 0.92), 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.