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VAIPX vs. VTIPX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

VAIPX vs. VTIPX

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Inflation-Protected Securities Fund Admiral Shares (VAIPX) and Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares (VTIPX).

VAIPX is managed by Vanguard. It was launched on Jun 10, 2005. VTIPX is managed by Vanguard. It was launched on Oct 16, 2012.

Performance

VAIPX vs. VTIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Inflation-Protected Securities Fund Admiral Shares (VAIPX) and Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares (VTIPX). The values are adjusted to include any dividend payments, if applicable.

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VAIPX vs. VTIPX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VAIPX
Vanguard Inflation-Protected Securities Fund Admiral Shares		0.30%6.87%1.85%3.83%-11.92%5.69%10.96%8.16%-1.39%2.91%
VTIPX
Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares		0.93%5.96%4.65%4.51%-2.93%5.21%4.85%4.74%0.49%0.72%

Returns By Period

In the year-to-date period, VAIPX achieves a 0.30% return, which is significantly lower than VTIPX's 0.93% return. Over the past 10 years, VAIPX has underperformed VTIPX with an annualized return of 2.55%, while VTIPX has yielded a comparatively higher 2.97% annualized return.

VAIPX

1D
0.66%
1M
-1.41%
YTD
0.30%
6M
0.40%
1Y
2.94%
3Y*
3.07%
5Y*
1.36%
10Y*
2.55%

VTIPX

1D
0.28%
1M
0.04%
YTD
0.93%
6M
1.25%
1Y
3.76%
3Y*
4.58%
5Y*
3.40%
10Y*
2.97%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Vanguard Inflation-Protected Securities Fund Admiral Shares

Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares

Often compared with VAIPX:
VAIPX vs. VTIPVAIPX vs. BNDVAIPX vs. VFIAXVAIPX vs. VWEAXVAIPX vs. VSCSXVAIPX vs. VSIGXVAIPX vs. VFTAX
Often compared with VTIPX:
VTIPX vs. VTIPVTIPX vs. VTSPXVTIPX vs. SPYVTIPX vs. SPYXVTIPX vs. SCHDVTIPX vs. SPYGVTIPX vs. BRK-B

VAIPX vs. VTIPX - Expense Ratio Comparison

VAIPX has a 0.10% expense ratio, which is lower than VTIPX's 0.14% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

VTIPX
Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares
VAIPX
Vanguard Inflation-Protected Securities Fund Admiral Shares

Return for Risk

VAIPX vs. VTIPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VAIPX
VAIPX Risk / Return Rank: 4141
Overall Rank
VAIPX Sharpe Ratio Rank: 4141
Sharpe Ratio Rank
VAIPX Sortino Ratio Rank: 3636
Sortino Ratio Rank
VAIPX Omega Ratio Rank: 3030
Omega Ratio Rank
VAIPX Calmar Ratio Rank: 6060
Calmar Ratio Rank
VAIPX Martin Ratio Rank: 4040
Martin Ratio Rank
VTIPX
VTIPX Risk / Return Rank: 9595
Overall Rank
VTIPX Sharpe Ratio Rank: 9595
Sharpe Ratio Rank
VTIPX Sortino Ratio Rank: 9696
Sortino Ratio Rank
VTIPX Omega Ratio Rank: 9494
Omega Ratio Rank
VTIPX Calmar Ratio Rank: 9898
Calmar Ratio Rank
VTIPX Martin Ratio Rank: 9696
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.

VAIPX vs. VTIPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Inflation-Protected Securities Fund Admiral Shares (VAIPX) 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.

VAIPXVTIPXDifference

Sharpe ratio

Return per unit of total volatility

0.83

2.19

-1.36

Sortino ratio

Return per unit of downside risk

1.16

3.29

-2.13

Omega ratio

Gain probability vs. loss probability

1.15

1.47

-0.32

Calmar ratio

Return relative to maximum drawdown

1.38

4.39

-3.01

Martin ratio

Return relative to average drawdown

4.17

14.13

-9.96

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VAIPX vs. VTIPX - Sharpe Ratio Comparison

The current VAIPX Sharpe Ratio is 0.83, which is lower than the VTIPX Sharpe Ratio of 2.19. The chart below compares the historical Sharpe Ratios of VAIPX and VTIPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

VAIPXVTIPXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.83

2.19

-1.36

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.23

1.28

-1.06

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.48

1.34

-0.86

Sharpe Ratio (All Time)

Calculated using the full available price history

0.51

1.00

-0.50

Correlation

The correlation between VAIPX and VTIPX is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

VAIPX vs. VTIPX - Dividend Comparison

VAIPX's dividend yield for the trailing twelve months is around 4.46%, more than VTIPX's 3.50% yield.

TTM20252024202320222021202020192018201720162015
VAIPX
Vanguard Inflation-Protected Securities Fund Admiral Shares		4.46%4.74%4.17%4.31%8.45%5.13%1.38%2.29%3.12%2.41%3.49%0.88%
VTIPX
Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares		3.50%3.70%2.60%2.76%6.74%4.59%1.11%1.88%2.37%1.50%0.55%0.00%

Drawdowns

VAIPX vs. VTIPX - Drawdown Comparison

The maximum VAIPX drawdown since its inception was -15.04%, which is greater than VTIPX's maximum drawdown of -5.36%. Use the drawdown chart below to compare losses from any high point for VAIPX and VTIPX.

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Drawdown Indicators

VAIPXVTIPXDifference

Max Drawdown

Largest peak-to-trough decline

-15.04%

-5.36%

-9.68%

Max Drawdown (1Y)

Largest decline over 1 year

-2.85%

-0.95%

-1.90%

Max Drawdown (5Y)

Largest decline over 5 years

-14.40%

-5.36%

-9.04%

Max Drawdown (10Y)

Largest decline over 10 years

-14.40%

-5.36%

-9.04%

Current Drawdown

Current decline from peak

-1.41%

-0.32%

-1.09%

Average Drawdown

Average peak-to-trough decline

-3.84%

-1.13%

-2.71%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.94%

0.30%

+0.64%

Volatility

VAIPX vs. VTIPX - Volatility Comparison

Vanguard Inflation-Protected Securities Fund Admiral Shares (VAIPX) has a higher volatility of 1.42% compared to Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares (VTIPX) at 0.62%. This indicates that VAIPX'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.

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Volatility by Period

VAIPXVTIPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

1.42%

0.62%

+0.80%

Volatility (6M)

Calculated over the trailing 6-month period

2.28%

0.96%

+1.32%

Volatility (1Y)

Calculated over the trailing 1-year period

4.11%

1.81%

+2.30%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

6.00%

2.66%

+3.34%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.34%

2.22%

+3.12%