VIOO vs. VTIP
VIOO (Vanguard S&P Small-Cap 600 ETF) and VTIP (Vanguard Short-Term Inflation-Protected Securities ETF) are both exchange-traded funds - VIOO is a Small Cap Blend Equities fund tracking the S&P SmallCap 600 Index, while VTIP 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, VIOO returned 11.35%/yr vs 3.03%/yr for VTIP. At a 0.06 correlation, their price movements are largely independent. VIOO charges 0.07%/yr vs 0.03%/yr for VTIP.
Performance
VIOO vs. VTIP - Performance Comparison
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Returns By Period
In the year-to-date period, VIOO achieves a 19.73% return, which is significantly higher than VTIP's 1.34% return. Over the past 10 years, VIOO has outperformed VTIP with an annualized return of 11.35%, while VTIP has yielded a comparatively lower 3.03% annualized return.
VIOO
- 1D
- 0.05%
- 1M
- 4.59%
- YTD
- 19.73%
- 6M
- 16.79%
- 1Y
- 36.99%
- 3Y*
- 16.33%
- 5Y*
- 6.65%
- 10Y*
- 11.35%
VTIP
- 1D
- -0.18%
- 1M
- -0.24%
- YTD
- 1.34%
- 6M
- 1.46%
- 1Y
- 3.64%
- 3Y*
- 5.00%
- 5Y*
- 3.26%
- 10Y*
- 3.03%
VIOO vs. VTIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIOO Vanguard S&P Small-Cap 600 ETF | 19.73% | 6.04% | 8.48% | 16.16% | -16.26% | 26.79% | 11.47% | 22.68% | -8.65% | 13.16% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 1.34% | 6.07% | 4.74% | 4.62% | -2.94% | 5.36% | 4.95% | 4.86% | 0.56% | 0.82% |
Correlation
The correlation between VIOO and VTIP 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 | 0.13 |
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 Oct 16, 2012 | 0.06 |
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Return for Risk
VIOO vs. VTIP — Risk / Return Rank
VIOO
VTIP
VIOO vs. VTIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 ETF (VIOO) and Vanguard Short-Term Inflation-Protected Securities ETF (VTIP). 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.
| VIOO | VTIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.23 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.47 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 4.24 | 5.12 | -0.88 |
| Martin ratioReturn relative to average drawdown | 14.31 | 18.66 | -4.35 |
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Drawdowns
VIOO vs. VTIP - Drawdown Comparison
The maximum VIOO drawdown since its inception was -44.15%, which is greater than VTIP's maximum drawdown of -6.27%. Use the drawdown chart below to compare losses from any high point for VIOO and VTIP.
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Drawdown Indicators
| VIOO | VTIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.15% | -6.27% | -37.88% |
Max Drawdown (1Y)Largest decline over 1 year | -8.77% | -0.71% | -8.06% |
Max Drawdown (3Y)Largest decline over 3 years | -27.93% | -0.98% | -26.95% |
Max Drawdown (5Y)Largest decline over 5 years | -27.93% | -5.50% | -22.43% |
Max Drawdown (10Y)Largest decline over 10 years | -44.15% | -6.27% | -37.88% |
Current DrawdownCurrent decline from peak | -0.12% | -0.71% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -7.31% | -1.04% | -6.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.59% | 0.20% | +2.39% |
Volatility
VIOO vs. VTIP - Volatility Comparison
Vanguard S&P Small-Cap 600 ETF (VIOO) has a higher volatility of 4.93% compared to Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) at 0.65%. This indicates that VIOO's price experiences larger fluctuations and is considered to be riskier than VTIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIOO | VTIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.93% | 0.65% | +4.28% |
Volatility (6M)Calculated over the trailing 6-month period | 12.10% | 1.17% | +10.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.80% | 1.58% | +16.22% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.40% | 2.77% | +18.63% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.01% | 2.74% | +20.27% |
VIOO vs. VTIP - Expense Ratio Comparison
VIOO has a 0.07% expense ratio, which is higher than VTIP's 0.03% 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
VIOO vs. VTIP - Dividend Comparison
VIOO's dividend yield for the trailing twelve months is around 1.13%, less than VTIP's 3.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIOO Vanguard S&P Small-Cap 600 ETF | 1.13% | 1.36% | 1.48% | 1.47% | 1.51% | 1.16% | 1.09% | 1.37% | 1.32% | 1.11% | 1.06% | 1.26% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 3.61% | 3.81% | 2.70% | 2.86% | 6.84% | 4.68% | 1.20% | 1.95% | 2.45% | 1.52% | 0.76% | 0.00% |
Frequently Asked Questions
VIOO and VTIP 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.
VIOO has higher volatility (4.93%) compared to VTIP (0.65%). In terms of maximum drawdown, VIOO dropped -44.15% vs VTIP's -6.27%.
On 10-year performance, VIOO leads with 11.35% vs 3.03% for VTIP. On fees, VTIP is cheaper at 0.03% per year. On volatility, VTIP has been the lower-risk option at 0.65%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VIOO has performed better with a 11.35% return vs 3.03%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTIP is cheaper with a 0.03% expense ratio, compared with 0.07% for VIOO.
VTIP has the higher dividend yield at 3.61%, compared with 1.13% for VIOO.
VIOO is categorized as Small Cap Blend Equities, while VTIP is Inflation-Protected Bonds. VIOO tracks S&P SmallCap 600 Index, while VTIP tracks Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. Their fees differ too: 0.07% for VIOO and 0.03% for VTIP.
VTIP currently has the higher Sharpe Ratio (2.32 vs 2.09), 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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