VINIX vs. VTAPX
VINIX (Vanguard Institutional Index Fund Institutional Shares) and VTAPX (Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares) are both mutual funds - VINIX is a S&P 500 fund tracking the S&P 500 Index, while VTAPX is a Inflation-Protected Bonds fund tracking the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. Both are passively managed. Over the past 10 years, VINIX returned 15.68%/yr vs 3.02%/yr for VTAPX. At a 0.06 correlation, their price movements are largely independent. VINIX charges 0.04%/yr vs 0.06%/yr for VTAPX.
Performance
VINIX vs. VTAPX - Performance Comparison
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Returns By Period
In the year-to-date period, VINIX achieves a 8.20% return, which is significantly higher than VTAPX's 1.33% return. Over the past 10 years, VINIX has outperformed VTAPX with an annualized return of 15.68%, while VTAPX has yielded a comparatively lower 3.02% annualized return.
VINIX
- 1D
- -1.44%
- 1M
- -1.34%
- YTD
- 8.20%
- 6M
- 6.87%
- 1Y
- 22.33%
- 3Y*
- 21.20%
- 5Y*
- 13.27%
- 10Y*
- 15.68%
VTAPX
- 1D
- 0.00%
- 1M
- -0.16%
- YTD
- 1.33%
- 6M
- 1.41%
- 1Y
- 3.57%
- 3Y*
- 4.98%
- 5Y*
- 3.26%
- 10Y*
- 3.02%
VINIX vs. VTAPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VINIX Vanguard Institutional Index Fund Institutional Shares | 8.20% | 17.85% | 26.28% | 25.77% | -18.15% | 28.67% | 18.40% | 31.46% | -4.42% | 21.79% |
VTAPX Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares | 1.33% | 6.03% | 4.73% | 4.59% | -2.84% | 5.26% | 4.97% | 4.85% | 0.53% | 0.82% |
Correlation
The correlation between VINIX and VTAPX is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.10 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.15 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.09 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013 | 0.06 |
The correlation between VINIX and VTAPX shifts across timeframes, from 0.05 (1 year) to 0.15 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VINIX vs. VTAPX — Risk / Return Rank
VINIX
VTAPX
VINIX vs. VTAPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Institutional Index Fund Institutional Shares (VINIX) 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.
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.
| VINIX | VTAPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.34 | ||
| Sortino ratioReturn per unit of downside risk | -0.87 | ||
| Omega ratioGain probability vs. loss probability | 1.34 | 1.46 | -0.11 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 4.72 | -2.04 |
| Martin ratioReturn relative to average drawdown | 12.02 | 17.29 | -5.27 |
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Drawdowns
VINIX vs. VTAPX - Drawdown Comparison
The maximum VINIX drawdown since its inception was -55.19%, which is greater than VTAPX's maximum drawdown of -5.33%. Use the drawdown chart below to compare losses from any high point for VINIX and VTAPX.
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Drawdown Indicators
| VINIX | VTAPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.19% | -5.33% | -49.86% |
Max Drawdown (1Y)Largest decline over 1 year | -8.90% | -0.75% | -8.15% |
Max Drawdown (3Y)Largest decline over 3 years | -18.75% | -0.92% | -17.83% |
Max Drawdown (5Y)Largest decline over 5 years | -24.51% | -5.33% | -19.18% |
Max Drawdown (10Y)Largest decline over 10 years | -33.79% | -5.33% | -28.46% |
Current DrawdownCurrent decline from peak | -3.13% | -0.75% | -2.38% |
Average DrawdownAverage peak-to-trough decline | -8.52% | -1.03% | -7.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.98% | 0.20% | +1.78% |
Volatility
VINIX vs. VTAPX - Volatility Comparison
Vanguard Institutional Index Fund Institutional Shares (VINIX) has a higher volatility of 4.90% compared to Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) at 0.67%. This indicates that VINIX'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
| VINIX | VTAPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.90% | 0.67% | +4.23% |
Volatility (6M)Calculated over the trailing 6-month period | 9.93% | 1.22% | +8.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.57% | 1.58% | +10.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.99% | 2.66% | +14.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.08% | 2.24% | +15.84% |
VINIX vs. VTAPX - Expense Ratio Comparison
VINIX has a 0.04% expense ratio, which is lower than VTAPX's 0.06% 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%.
Dividends
VINIX vs. VTAPX - Dividend Comparison
VINIX's dividend yield for the trailing twelve months is around 2.47%, less than VTAPX's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VINIX Vanguard Institutional Index Fund Institutional Shares | 2.47% | 2.10% | 3.64% | 2.65% | 3.38% | 4.77% | 3.06% | 2.85% | 2.43% | 1.82% | 2.36% | 2.45% |
VTAPX Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares | 3.58% | 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
VINIX and VTAPX have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VINIX has higher volatility (4.90%) compared to VTAPX (0.67%). In terms of maximum drawdown, VINIX dropped -55.19% vs VTAPX's -5.33%.
VTAPX currently has the higher Sharpe Ratio (2.24 vs 1.90), 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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