VGVT vs. VTP

Last updated Jun 24, 2026

VGVT (Vanguard Government Securities Active ETF) and VTP (Vanguard Total Inflation-Protected Securities ETF) are both exchange-traded funds - VGVT is a Intermediate Core Bond fund actively managed by Vanguard, while VTP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index 0-5. VGVT is actively managed, while VTP is passively managed. A 0.78 correlation means they provide meaningful diversification when combined. VGVT charges 0.10%/yr vs 0.05%/yr for VTP.

Performance

VGVT vs. VTP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Government Securities Active ETF (VGVT) and Vanguard Total Inflation-Protected Securities ETF (VTP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VGVT achieves a 0.29% return, which is significantly lower than VTP's 0.75% return.

VGVT

• 1D: 0.22%
• 1M: 0.58%
• YTD: 0.29%
• 6M: 0.51%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VTP

• 1D: -0.02%
• 1M: -0.12%
• YTD: 0.75%
• 6M: 0.95%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VGVT vs. VTP - Yearly Performance Comparison

	2026 (YTD)	2025
VGVT Vanguard Government Securities Active ETF	0.29%	3.56%
VTP Vanguard Total Inflation-Protected Securities ETF	0.75%	2.46%

Correlation

The correlation between VGVT and VTP is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.78

Return for Risk

VGVT vs. VTP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Government Securities Active ETF (VGVT) and Vanguard Total Inflation-Protected Securities ETF (VTP). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Drawdowns

VGVT vs. VTP - Drawdown Comparison

The maximum VGVT drawdown since its inception was -2.77%, which is greater than VTP's maximum drawdown of -1.92%. Use the drawdown chart below to compare losses from any high point for VGVT and VTP.

Drawdown Indicators

	VGVT	VTP	Difference
Max Drawdown Largest peak-to-trough decline	-2.77%	-1.92%	-0.85%
Current Drawdown Current decline from peak	-1.57%	-1.09%	-0.48%
Average Drawdown Average peak-to-trough decline	-0.73%	-0.52%	-0.21%

Volatility

Volatility by Period

	VGVT	VTP	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.24%	3.34%	-0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.24%	3.34%	-0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.24%	3.34%	-0.10%

VGVT vs. VTP - Expense Ratio Comparison

VGVT has a 0.10% expense ratio, which is higher than VTP'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

VGVT vs. VTP - Dividend Comparison

VGVT's dividend yield for the trailing twelve months is around 3.98%, more than VTP's 1.62% yield.

Position	TTM	2025
VGVT Vanguard Government Securities Active ETF	3.98%	2.29%
VTP Vanguard Total Inflation-Protected Securities ETF	1.62%	1.56%

Frequently Asked Questions

Can I hold both VGVT and VTP in my portfolio?

VGVT and VTP have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VGVT or VTP?

On fees, VTP is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VGVT or VTP?

VTP is cheaper with a 0.05% expense ratio, compared with 0.10% for VGVT.

Which ETF pays a higher dividend yield, VGVT or VTP?

VGVT has the higher dividend yield at 3.98%, compared with 1.62% for VTP.

What is the main difference between VGVT and VTP?

VGVT is categorized as Intermediate Core Bond, while VTP is Inflation-Protected Bonds. Their fees differ too: 0.10% for VGVT and 0.05% for VTP.