TRBUX vs. VTIP
Compare and contrast key facts about T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) and Vanguard Short-Term Inflation-Protected Securities ETF (VTIP).
TRBUX is managed by T. Rowe Price. It was launched on Dec 3, 2012. VTIP is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. It was launched on Oct 12, 2012.
Performance
TRBUX vs. VTIP - Performance Comparison
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TRBUX vs. VTIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRBUX T. Rowe Price Ultra Short-Term Bond Fund | 0.65% | 8.98% | 6.48% | 6.99% | -1.28% | 0.22% | 3.11% | 3.60% | 1.88% | 1.83% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 0.99% | 6.07% | 4.74% | 4.62% | -2.94% | 5.36% | 4.95% | 4.86% | 0.56% | 0.82% |
Returns By Period
In the year-to-date period, TRBUX achieves a 0.65% return, which is significantly lower than VTIP's 0.99% return. Over the past 10 years, TRBUX has outperformed VTIP with an annualized return of 3.34%, while VTIP has yielded a comparatively lower 3.07% annualized return.
TRBUX
- 1D
- 0.00%
- 1M
- -0.39%
- YTD
- 0.65%
- 6M
- 3.19%
- 1Y
- 8.39%
- 3Y*
- 7.01%
- 5Y*
- 4.28%
- 10Y*
- 3.34%
VTIP
- 1D
- 0.02%
- 1M
- 0.10%
- YTD
- 0.99%
- 6M
- 1.37%
- 1Y
- 3.94%
- 3Y*
- 4.66%
- 5Y*
- 3.48%
- 10Y*
- 3.07%
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TRBUX vs. VTIP - Expense Ratio Comparison
TRBUX has a 0.31% expense ratio, which is higher than VTIP's 0.03% expense ratio.
Return for Risk
TRBUX vs. VTIP — Risk / Return Rank
TRBUX
VTIP
TRBUX vs. VTIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) 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.
| TRBUX | VTIP | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 4.54 | 2.09 | +2.46 |
Sortino ratioReturn per unit of downside risk | 14.92 | 3.15 | +11.78 |
Omega ratioGain probability vs. loss probability | 5.90 | 1.44 | +4.45 |
Calmar ratioReturn relative to maximum drawdown | 22.36 | 4.11 | +18.25 |
Martin ratioReturn relative to average drawdown | 69.43 | 13.24 | +56.20 |
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
| TRBUX | VTIP | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 4.54 | 2.09 | +2.46 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.55 | 1.26 | +1.30 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 2.21 | 1.12 | +1.09 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.95 | 0.87 | +1.07 |
Correlation
The correlation between TRBUX and VTIP is 0.19, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
TRBUX vs. VTIP - Dividend Comparison
TRBUX's dividend yield for the trailing twelve months is around 8.06%, more than VTIP's 3.77% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TRBUX T. Rowe Price Ultra Short-Term Bond Fund | 8.06% | 8.17% | 5.05% | 4.48% | 1.53% | 1.21% | 1.86% | 2.73% | 2.47% | 1.62% | 1.18% | 0.81% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 3.77% | 3.81% | 2.70% | 2.86% | 6.84% | 4.68% | 1.20% | 1.95% | 2.45% | 1.52% | 0.76% | 0.00% |
Drawdowns
TRBUX vs. VTIP - Drawdown Comparison
The maximum TRBUX drawdown since its inception was -4.15%, smaller than the maximum VTIP drawdown of -6.27%. Use the drawdown chart below to compare losses from any high point for TRBUX and VTIP.
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Drawdown Indicators
| TRBUX | VTIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.15% | -6.27% | +2.12% |
Max Drawdown (1Y)Largest decline over 1 year | -0.39% | -0.98% | +0.59% |
Max Drawdown (5Y)Largest decline over 5 years | -2.68% | -5.50% | +2.82% |
Max Drawdown (10Y)Largest decline over 10 years | -4.15% | -6.27% | +2.12% |
Current DrawdownCurrent decline from peak | -0.39% | -0.26% | -0.13% |
Average DrawdownAverage peak-to-trough decline | -0.22% | -1.05% | +0.83% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.13% | 0.30% | -0.17% |
Volatility
TRBUX vs. VTIP - Volatility Comparison
The current volatility for T. Rowe Price Ultra Short-Term Bond Fund (TRBUX) is 0.27%, while Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) has a volatility of 0.60%. This indicates that TRBUX 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.
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Volatility by Period
| TRBUX | VTIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.27% | 0.60% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 1.32% | 0.97% | +0.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.06% | 1.90% | +0.16% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.70% | 2.78% | -1.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.52% | 2.74% | -1.22% |