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USD=X vs. VTIP
Performance
Return for Risk
Drawdowns
Volatility

USD=X vs. VTIP

Last updated Jun 13, 2026

USD=X (USD Cash) is a currency, while VTIP (Vanguard Short-Term Inflation-Protected Securities ETF) is Inflation-Protected Bonds fund tracking the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. Over the past 10 years, USD=X returned 0.00%/yr vs 3.09%/yr for VTIP.

Performance

USD=X vs. VTIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in USD Cash (USD=X) and Vanguard Short-Term Inflation-Protected Securities ETF (VTIP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

USD=X

1D
0.00%
1M
0.00%
YTD
0.00%
6M
0.00%
1Y
0.00%
3Y*
0.00%
5Y*
0.00%
10Y*
0.00%

VTIP

1D
-0.04%
1M
-0.22%
YTD
1.85%
6M
1.95%
1Y
4.57%
3Y*
5.25%
5Y*
3.37%
10Y*
3.09%
*Multi-year figures are annualized to reflect compound growth (CAGR)

USD=X vs. VTIP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
USD=X
USD Cash		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
VTIP
Vanguard Short-Term Inflation-Protected Securities ETF		1.85%6.07%4.74%4.62%-2.94%5.36%4.95%4.86%0.56%0.82%

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USD Cash

Vanguard Short-Term Inflation-Protected Securities ETF

Often compared with USD=X:
USD=X vs. UUPUSD=X vs. EUR=XUSD=X vs. XRP-USDUSD=X vs. BTC-USDUSD=X vs. QQQUSD=X vs. TSLAUSD=X vs. USDX
Often compared with VTIP:
VTIP vs. SCHPVTIP vs. TIPVTIP vs. VGSHVTIP vs. STIPVTIP vs. BNDVTIP vs. VGITVTIP vs. VTAPX

Return for Risk

USD=X vs. VTIP — Risk / Return Rank

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

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

VTIP
VTIP Risk / Return Rank: 9595
Overall Rank
VTIP Sharpe Ratio Rank: 9494
Sharpe Ratio Rank
VTIP Sortino Ratio Rank: 9696
Sortino Ratio Rank
VTIP Omega Ratio Rank: 9595
Omega Ratio Rank
VTIP Calmar Ratio Rank: 9595
Calmar Ratio Rank
VTIP Martin Ratio Rank: 9595
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.

USD=X vs. VTIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for USD Cash (USD=X) 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.

USD=XVTIPDifference
Sharpe ratioReturn per unit of total volatility

—

3.07

—

Sortino ratioReturn per unit of downside risk

—

5.24

—

Omega ratioGain probability vs. loss probability

—

1.65

—

Calmar ratioReturn relative to maximum drawdown

—

6.57

—

Martin ratioReturn relative to average drawdown

—

25.36

—

USD=X vs. VTIP - Sharpe Ratio Comparison

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Drawdowns

USD=X vs. VTIP - Drawdown Comparison

The maximum USD=X drawdown since its inception was 0.00%, smaller than the maximum VTIP drawdown of -6.27%. Use the drawdown chart below to compare losses from any high point for USD=X and VTIP.

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Drawdown Indicators

USD=XVTIPDifference

Max Drawdown

Largest peak-to-trough decline

0.00%

-6.27%

+6.27%

Max Drawdown (1Y)

Largest decline over 1 year

0.00%

-0.70%

+0.70%

Max Drawdown (3Y)

Largest decline over 3 years

0.00%

-0.98%

+0.98%

Max Drawdown (5Y)

Largest decline over 5 years

0.00%

-5.50%

+5.50%

Max Drawdown (10Y)

Largest decline over 10 years

0.00%

-6.27%

+6.27%

Current Drawdown

Current decline from peak

0.00%

-0.22%

+0.22%

Average Drawdown

Average peak-to-trough decline

0.00%

-1.04%

+1.04%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.00%

0.18%

-0.18%

Volatility

USD=X vs. VTIP - Volatility Comparison

The current volatility for USD Cash (USD=X) is 0.00%, while Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) has a volatility of 0.40%. This indicates that USD=X 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

USD=XVTIPDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.00%

0.40%

-0.40%

Volatility (6M)

Calculated over the trailing 6-month period

0.00%

1.04%

-1.04%

Volatility (1Y)

Calculated over the trailing 1-year period

0.00%

1.50%

-1.50%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

0.00%

2.77%

-2.77%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

0.00%

2.74%

-2.74%

Frequently Asked Questions

VTIP has higher volatility (0.40%) compared to USD=X (0.00%). In terms of maximum drawdown, USD=X dropped 0.00% vs VTIP's -6.27%.

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