VFORX vs. VTAPX
VFORX (Vanguard Target Retirement 2040 Fund) and VTAPX (Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares) are both mutual funds - VFORX is a Target Retirement Date fund managed by Vanguard, while VTAPX is a Inflation-Protected Bonds fund managed by Vanguard. Over the past 10 years, VFORX returned 10.66%/yr vs 3.13%/yr for VTAPX. At a 0.12 correlation, their price movements are largely independent. VFORX charges 0.08%/yr vs 0.06%/yr for VTAPX.
Performance
VFORX vs. VTAPX - Performance Comparison
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Returns By Period
In the year-to-date period, VFORX achieves a 10.11% return, which is significantly higher than VTAPX's 2.05% return. Over the past 10 years, VFORX has outperformed VTAPX with an annualized return of 10.66%, while VTAPX has yielded a comparatively lower 3.13% annualized return.
VFORX
- 1D
- 0.31%
- 1M
- 4.40%
- YTD
- 10.11%
- 6M
- 10.85%
- 1Y
- 23.95%
- 3Y*
- 17.28%
- 5Y*
- 8.86%
- 10Y*
- 10.66%
VTAPX
- 1D
- 0.00%
- 1M
- 0.04%
- YTD
- 2.05%
- 6M
- 2.04%
- 1Y
- 4.69%
- 3Y*
- 5.23%
- 5Y*
- 3.38%
- 10Y*
- 3.13%
VFORX vs. VTAPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VFORX Vanguard Target Retirement 2040 Fund | 10.11% | 18.77% | 12.90% | 18.56% | -17.00% | 14.55% | 15.48% | 23.86% | -7.32% | 18.45% |
VTAPX Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares | 2.05% | 6.03% | 4.73% | 4.59% | -2.84% | 5.26% | 4.97% | 4.85% | 0.53% | 0.82% |
Correlation
The correlation between VFORX and VTAPX is 0.06, 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 | 0.06 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.22 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.15 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013 | 0.12 |
The correlation between VFORX and VTAPX shifts across timeframes, from 0.06 (1 year) to 0.22 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VFORX vs. VTAPX — Risk / Return Rank
VFORX
VTAPX
VFORX vs. VTAPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Target Retirement 2040 Fund (VFORX) and Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX). 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.
| VFORX | VTAPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.53 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.46 | 1.65 | -0.18 |
| Calmar ratioReturn relative to maximum drawdown | 3.15 | 6.45 | -3.29 |
| Martin ratioReturn relative to average drawdown | 13.90 | 25.59 | -11.69 |
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
| VFORX | VTAPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.50 | 3.03 | -0.53 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.72 | 1.27 | -0.55 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.78 | 1.41 | -0.63 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.50 | 1.07 | -0.57 |
Drawdowns
VFORX vs. VTAPX - Drawdown Comparison
The maximum VFORX drawdown since its inception was -51.63%, which is greater than VTAPX's maximum drawdown of -5.33%. Use the drawdown chart below to compare losses from any high point for VFORX and VTAPX.
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Drawdown Indicators
| VFORX | VTAPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.63% | -5.33% | -46.30% |
Max Drawdown (1Y)Largest decline over 1 year | -7.70% | -0.72% | -6.98% |
Max Drawdown (3Y)Largest decline over 3 years | -12.12% | -0.92% | -11.20% |
Max Drawdown (5Y)Largest decline over 5 years | -24.32% | -5.33% | -18.99% |
Max Drawdown (10Y)Largest decline over 10 years | -29.35% | -5.33% | -24.02% |
Current DrawdownCurrent decline from peak | 0.00% | -0.04% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -6.77% | -1.03% | -5.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 0.18% | +1.56% |
Volatility
VFORX vs. VTAPX - Volatility Comparison
Vanguard Target Retirement 2040 Fund (VFORX) has a higher volatility of 2.99% compared to Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) at 0.57%. This indicates that VFORX's price experiences larger fluctuations and is considered to be riskier than VTAPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VFORX | VTAPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.99% | 0.57% | +2.42% |
Volatility (6M)Calculated over the trailing 6-month period | 7.78% | 1.11% | +6.67% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.71% | 1.52% | +8.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.43% | 2.67% | +9.76% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.68% | 2.23% | +11.45% |
VFORX vs. VTAPX - Expense Ratio Comparison
VFORX has a 0.08% expense ratio, which is higher than VTAPX's 0.06% 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
VFORX vs. VTAPX - Dividend Comparison
VFORX's dividend yield for the trailing twelve months is around 2.51%, less than VTAPX's 3.55% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VFORX Vanguard Target Retirement 2040 Fund | 2.51% | 2.77% | 2.86% | 2.38% | 2.60% | 20.68% | 2.06% | 2.28% | 2.58% | 0.04% | 2.40% | 2.99% |
VTAPX Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares | 3.55% | 3.78% | 2.68% | 2.84% | 6.82% | 4.67% | 1.19% | 1.94% | 2.45% | 1.52% | 0.76% | 0.00% |
Frequently Asked Questions
VFORX and VTAPX have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VFORX has higher volatility (2.99%) compared to VTAPX (0.57%). In terms of maximum drawdown, VFORX dropped -51.63% vs VTAPX's -5.33%.
VTAPX currently has the higher Sharpe Ratio (3.03 vs 2.50), 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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