VAIPX vs. PRFRX
VAIPX (Vanguard Inflation-Protected Securities Fund Admiral Shares) and PRFRX (T. Rowe Price Floating Rate Fund) are both mutual funds - VAIPX is a Inflation-Protected Bonds fund managed by Vanguard, while PRFRX is a High Yield Bonds fund managed by T. Rowe Price. Over the past 10 years, VAIPX returned 2.59%/yr vs 5.50%/yr for PRFRX. At a 0.03 correlation, their price movements are largely independent. VAIPX charges 0.10%/yr vs 0.75%/yr for PRFRX.
Performance
VAIPX vs. PRFRX - Performance Comparison
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Returns By Period
In the year-to-date period, VAIPX achieves a 1.04% return, which is significantly higher than PRFRX's 0.95% return. Over the past 10 years, VAIPX has underperformed PRFRX with an annualized return of 2.59%, while PRFRX has yielded a comparatively higher 5.50% annualized return.
VAIPX
- 1D
- 0.17%
- 1M
- 0.35%
- YTD
- 1.04%
- 6M
- 1.22%
- 1Y
- 3.96%
- 3Y*
- 3.80%
- 5Y*
- 1.03%
- 10Y*
- 2.59%
PRFRX
- 1D
- 0.00%
- 1M
- 0.12%
- YTD
- 0.95%
- 6M
- 2.23%
- 1Y
- 7.80%
- 3Y*
- 9.72%
- 5Y*
- 6.97%
- 10Y*
- 5.50%
VAIPX vs. PRFRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VAIPX Vanguard Inflation-Protected Securities Fund Admiral Shares | 1.04% | 6.87% | 1.85% | 3.83% | -11.92% | 5.69% | 10.96% | 8.16% | -1.39% | 2.91% |
PRFRX T. Rowe Price Floating Rate Fund | 0.95% | 9.82% | 11.04% | 13.78% | -1.95% | 4.60% | 1.75% | 8.46% | -0.08% | 3.48% |
Correlation
The correlation between VAIPX and PRFRX is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.03 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since Aug 1, 2011 | 0.03 |
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Return for Risk
VAIPX vs. PRFRX — Risk / Return Rank
VAIPX
PRFRX
VAIPX vs. PRFRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Inflation-Protected Securities Fund Admiral Shares (VAIPX) and T. Rowe Price Floating Rate Fund (PRFRX). 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.
| VAIPX | PRFRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.70 | ||
| Sortino ratioReturn per unit of downside risk | -5.62 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 2.17 | -0.95 |
| Calmar ratioReturn relative to maximum drawdown | 2.05 | 5.22 | -3.18 |
| Martin ratioReturn relative to average drawdown | 6.42 | 19.38 | -12.96 |
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Drawdowns
VAIPX vs. PRFRX - Drawdown Comparison
The maximum VAIPX drawdown since its inception was -15.04%, smaller than the maximum PRFRX drawdown of -20.05%. Use the drawdown chart below to compare losses from any high point for VAIPX and PRFRX.
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Drawdown Indicators
| VAIPX | PRFRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.04% | -20.05% | +5.01% |
Max Drawdown (1Y)Largest decline over 1 year | -2.05% | -1.50% | -0.55% |
Max Drawdown (3Y)Largest decline over 3 years | -4.52% | -2.35% | -2.17% |
Max Drawdown (5Y)Largest decline over 5 years | -14.40% | -5.94% | -8.46% |
Max Drawdown (10Y)Largest decline over 10 years | -14.40% | -20.05% | +5.65% |
Current DrawdownCurrent decline from peak | -0.69% | -0.44% | -0.25% |
Average DrawdownAverage peak-to-trough decline | -3.80% | -0.69% | -3.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.65% | 0.40% | +0.25% |
Volatility
VAIPX vs. PRFRX - Volatility Comparison
Vanguard Inflation-Protected Securities Fund Admiral Shares (VAIPX) has a higher volatility of 1.15% compared to T. Rowe Price Floating Rate Fund (PRFRX) at 0.63%. This indicates that VAIPX's price experiences larger fluctuations and is considered to be riskier than PRFRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VAIPX | PRFRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.15% | 0.63% | +0.52% |
Volatility (6M)Calculated over the trailing 6-month period | 2.43% | 1.85% | +0.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.33% | 2.64% | +0.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.98% | 2.91% | +3.07% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.32% | 3.92% | +1.40% |
VAIPX vs. PRFRX - Expense Ratio Comparison
VAIPX has a 0.10% expense ratio, which is lower than PRFRX's 0.75% expense ratio.
Dividends
VAIPX vs. PRFRX - Dividend Comparison
VAIPX's dividend yield for the trailing twelve months is around 4.51%, less than PRFRX's 9.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRFRX T. Rowe Price Floating Rate Fund | 9.25% | 9.99% | 10.20% | 9.57% | 4.03% | 3.86% | 4.00% | 4.84% | 4.87% | 4.04% | 4.07% | 4.07% |
VAIPX Vanguard Inflation-Protected Securities Fund Admiral Shares | 4.51% | 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
VAIPX and PRFRX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VAIPX has higher volatility (1.15%) compared to PRFRX (0.63%). In terms of maximum drawdown, VAIPX dropped -15.04% vs PRFRX's -20.05%.
PRFRX currently has the higher Sharpe Ratio (2.96 vs 1.26), 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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