VAIPX vs. FIPDX
VAIPX (Vanguard Inflation-Protected Securities Fund Admiral Shares) and FIPDX (Fidelity Inflation-Protected Bond Index Fund) are both Inflation-Protected Bonds funds. Over the past 10 years, VAIPX returned 2.64%/yr vs 2.67%/yr for FIPDX. With a 0.97 correlation, they move nearly in lockstep. VAIPX charges 0.10%/yr vs 0.05%/yr for FIPDX.
Performance
VAIPX vs. FIPDX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with VAIPX having a 1.65% return and FIPDX slightly higher at 1.66%. Both investments have delivered pretty close results over the past 10 years, with VAIPX having a 2.64% annualized return and FIPDX not far ahead at 2.67%.
VAIPX
- 1D
- 0.00%
- 1M
- 0.13%
- YTD
- 1.65%
- 6M
- 1.27%
- 1Y
- 5.31%
- 3Y*
- 4.04%
- 5Y*
- 1.17%
- 10Y*
- 2.64%
FIPDX
- 1D
- 0.00%
- 1M
- 0.11%
- YTD
- 1.66%
- 6M
- 1.22%
- 1Y
- 5.23%
- 3Y*
- 4.08%
- 5Y*
- 1.22%
- 10Y*
- 2.67%
VAIPX vs. FIPDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VAIPX Vanguard Inflation-Protected Securities Fund Admiral Shares | 1.65% | 6.87% | 1.85% | 3.83% | -11.92% | 5.69% | 10.96% | 8.16% | -1.39% | 2.91% |
FIPDX Fidelity Inflation-Protected Bond Index Fund | 1.66% | 6.90% | 2.00% | 3.77% | -12.09% | 5.94% | 10.90% | 8.32% | -1.37% | 2.98% |
Correlation
The correlation between VAIPX and FIPDX is 0.95, 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 | 0.95 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.97 |
Correlation (All Time) Calculated using the full available price history since May 11, 2012 | 0.97 |
The correlation between VAIPX and FIPDX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.
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Return for Risk
VAIPX vs. FIPDX — Risk / Return Rank
VAIPX
FIPDX
VAIPX vs. FIPDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Inflation-Protected Securities Fund Admiral Shares (VAIPX) and Fidelity Inflation-Protected Bond Index Fund (FIPDX). 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.
| VAIPX | FIPDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.05 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.28 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 2.65 | -0.12 |
| Martin ratioReturn relative to average drawdown | 8.02 | 7.78 | +0.24 |
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
| VAIPX | FIPDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.54 | 1.53 | +0.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 0.21 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 0.50 | 0.00 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.41 | +0.10 |
Drawdowns
VAIPX vs. FIPDX - Drawdown Comparison
The maximum VAIPX drawdown since its inception was -15.04%, which is greater than FIPDX's maximum drawdown of -14.32%. Use the drawdown chart below to compare losses from any high point for VAIPX and FIPDX.
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Drawdown Indicators
| VAIPX | FIPDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.04% | -14.32% | -0.72% |
Max Drawdown (1Y)Largest decline over 1 year | -2.05% | -1.94% | -0.11% |
Max Drawdown (3Y)Largest decline over 3 years | -4.52% | -4.49% | -0.03% |
Max Drawdown (5Y)Largest decline over 5 years | -14.40% | -14.32% | -0.08% |
Max Drawdown (10Y)Largest decline over 10 years | -14.40% | -14.32% | -0.08% |
Current DrawdownCurrent decline from peak | -0.09% | -0.11% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -3.81% | -4.47% | +0.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.66% | -0.01% |
Volatility
VAIPX vs. FIPDX - Volatility Comparison
Vanguard Inflation-Protected Securities Fund Admiral Shares (VAIPX) has a higher volatility of 0.97% compared to Fidelity Inflation-Protected Bond Index Fund (FIPDX) at 0.90%. This indicates that VAIPX's price experiences larger fluctuations and is considered to be riskier than FIPDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VAIPX | FIPDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 0.90% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.32% | 2.30% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.38% | 3.38% | 0.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.99% | 5.98% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.32% | 5.37% | -0.05% |
VAIPX vs. FIPDX - Expense Ratio Comparison
VAIPX has a 0.10% expense ratio, which is higher than FIPDX's 0.05% 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
VAIPX vs. FIPDX - Dividend Comparison
VAIPX's dividend yield for the trailing twelve months is around 4.49%, more than FIPDX's 3.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIPDX Fidelity Inflation-Protected Bond Index Fund | 3.79% | 4.18% | 3.75% | 3.56% | 8.87% | 4.76% | 1.24% | 1.97% | 2.26% | 1.29% | 1.34% | 0.38% |
VAIPX Vanguard Inflation-Protected Securities Fund Admiral Shares | 4.49% | 4.74% | 4.17% | 4.31% | 8.45% | 5.13% | 1.38% | 2.29% | 3.12% | 2.41% | 3.49% | 0.88% |
Frequently Asked Questions
With a correlation of 0.95, VAIPX and FIPDX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VAIPX has higher volatility (0.97%) compared to FIPDX (0.90%). In terms of maximum drawdown, VAIPX dropped -15.04% vs FIPDX's -14.32%.
VAIPX currently has the higher Sharpe Ratio (1.54 vs 1.53), 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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