SPIP vs. VCLAX
Compare and contrast key facts about SPDR Portfolio TIPS ETF (SPIP) and Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX).
SPIP is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays US Government Inflation-linked Bond Index. It was launched on May 25, 2007. VCLAX is managed by Vanguard. It was launched on Nov 12, 2001.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: SPIP or VCLAX.
Performance
SPIP vs. VCLAX - Performance Comparison
Returns By Period
In the year-to-date period, SPIP achieves a 3.32% return, which is significantly higher than VCLAX's 2.41% return. Over the past 10 years, SPIP has underperformed VCLAX with an annualized return of 2.10%, while VCLAX has yielded a comparatively higher 2.74% annualized return.
SPIP
3.32%
-1.31%
2.55%
5.57%
1.86%
2.10%
VCLAX
2.41%
-0.23%
3.07%
7.91%
1.23%
2.74%
Key characteristics
| SPIP | VCLAX | |
|---|---|---|
| Sharpe Ratio | 1.03 | 2.08 |
| Sortino Ratio | 1.56 | 3.11 |
| Omega Ratio | 1.18 | 1.47 |
| Calmar Ratio | 0.45 | 0.92 |
| Martin Ratio | 4.79 | 8.39 |
| Ulcer Index | 1.24% | 0.97% |
| Daily Std Dev | 5.75% | 3.90% |
| Max Drawdown | -15.38% | -16.25% |
| Current Drawdown | -7.80% | -1.61% |
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SPIP vs. VCLAX - Expense Ratio Comparison
SPIP has a 0.12% expense ratio, which is higher than VCLAX's 0.09% 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%.
Correlation
The correlation between SPIP and VCLAX is 0.38, 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.
Risk-Adjusted Performance
SPIP vs. VCLAX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Portfolio TIPS ETF (SPIP) and Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX). 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.
Dividends
SPIP vs. VCLAX - Dividend Comparison
SPIP's dividend yield for the trailing twelve months is around 3.22%, less than VCLAX's 3.34% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SPIP SPDR Portfolio TIPS ETF | 3.22% | 3.70% | 7.06% | 4.53% | 1.97% | 2.60% | 2.80% | 3.02% | 1.88% | 0.14% | 1.66% | 1.11% |
VCLAX Vanguard California Long-Term Tax-Exempt Fund Admiral Shares | 3.34% | 3.07% | 2.74% | 2.40% | 2.64% | 3.01% | 3.39% | 3.34% | 3.56% | 3.58% | 3.71% | 4.07% |
Drawdowns
SPIP vs. VCLAX - Drawdown Comparison
The maximum SPIP drawdown since its inception was -15.38%, smaller than the maximum VCLAX drawdown of -16.25%. Use the drawdown chart below to compare losses from any high point for SPIP and VCLAX. For additional features, visit the drawdowns tool.
Volatility
SPIP vs. VCLAX - Volatility Comparison
The current volatility for SPDR Portfolio TIPS ETF (SPIP) is 1.20%, while Vanguard California Long-Term Tax-Exempt Fund Admiral Shares (VCLAX) has a volatility of 1.96%. This indicates that SPIP experiences smaller price fluctuations and is considered to be less risky than VCLAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.