VIOV vs. VTIP
VIOV (Vanguard S&P Small-Cap 600 Value ETF) and VTIP (Vanguard Short-Term Inflation-Protected Securities ETF) are both exchange-traded funds - VIOV is a Small Cap Value Equities fund tracking the S&P SmallCap 600 Value 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, VIOV returned 10.38%/yr vs 3.04%/yr for VTIP. At a 0.07 correlation, their price movements are largely independent. VIOV charges 0.10%/yr vs 0.03%/yr for VTIP.
Performance
VIOV vs. VTIP - Performance Comparison
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Returns By Period
In the year-to-date period, VIOV achieves a 16.31% return, which is significantly higher than VTIP's 1.34% return. Over the past 10 years, VIOV has outperformed VTIP with an annualized return of 10.38%, while VTIP has yielded a comparatively lower 3.04% annualized return.
VIOV
- 1D
- -1.76%
- 1M
- 4.42%
- YTD
- 16.31%
- 6M
- 14.80%
- 1Y
- 38.30%
- 3Y*
- 13.81%
- 5Y*
- 7.06%
- 10Y*
- 10.38%
VTIP
- 1D
- -0.45%
- 1M
- -0.54%
- YTD
- 1.34%
- 6M
- 1.44%
- 1Y
- 3.85%
- 3Y*
- 5.00%
- 5Y*
- 3.34%
- 10Y*
- 3.04%
VIOV vs. VTIP - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIOV Vanguard S&P Small-Cap 600 Value ETF | 16.31% | 6.63% | 7.44% | 15.36% | -11.37% | 30.67% | 2.81% | 24.44% | -12.85% | 11.54% |
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 VIOV 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 | 0.14 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
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 | 0.07 |
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Return for Risk
VIOV vs. VTIP — Risk / Return Rank
VIOV
VTIP
VIOV vs. VTIP - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard S&P Small-Cap 600 Value ETF (VIOV) 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.
| VIOV | VTIP | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.36 | 1.51 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 4.13 | 5.41 | -1.29 |
| Martin ratioReturn relative to average drawdown | 13.53 | 20.59 | -7.06 |
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Drawdowns
VIOV vs. VTIP - Drawdown Comparison
The maximum VIOV drawdown since its inception was -47.36%, which is greater than VTIP's maximum drawdown of -6.27%. Use the drawdown chart below to compare losses from any high point for VIOV and VTIP.
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Drawdown Indicators
| VIOV | VTIP | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.36% | -6.27% | -41.09% |
Max Drawdown (1Y)Largest decline over 1 year | -9.33% | -0.71% | -8.62% |
Max Drawdown (3Y)Largest decline over 3 years | -28.44% | -0.98% | -27.46% |
Max Drawdown (5Y)Largest decline over 5 years | -28.44% | -5.50% | -22.94% |
Max Drawdown (10Y)Largest decline over 10 years | -47.36% | -6.27% | -41.09% |
Current DrawdownCurrent decline from peak | -2.61% | -0.71% | -1.90% |
Average DrawdownAverage peak-to-trough decline | -7.36% | -1.04% | -6.32% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.84% | 0.19% | +2.65% |
Volatility
VIOV vs. VTIP - Volatility Comparison
Vanguard S&P Small-Cap 600 Value ETF (VIOV) has a higher volatility of 5.15% compared to Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) at 0.60%. This indicates that VIOV'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
| VIOV | VTIP | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.15% | 0.60% | +4.55% |
Volatility (6M)Calculated over the trailing 6-month period | 11.78% | 1.14% | +10.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.44% | 1.57% | +16.87% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.95% | 2.77% | +19.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.90% | 2.74% | +21.16% |
VIOV vs. VTIP - Expense Ratio Comparison
VIOV has a 0.10% 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
VIOV vs. VTIP - Dividend Comparison
VIOV's dividend yield for the trailing twelve months is around 1.58%, less than VTIP's 3.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIOV Vanguard S&P Small-Cap 600 Value ETF | 1.58% | 1.69% | 1.78% | 2.18% | 1.81% | 1.59% | 1.42% | 1.60% | 1.76% | 1.43% | 1.17% | 1.32% |
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
VIOV 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.
VIOV has higher volatility (5.15%) compared to VTIP (0.60%). In terms of maximum drawdown, VIOV dropped -47.36% vs VTIP's -6.27%.
On 10-year performance, VIOV leads with 10.38% vs 3.04% for VTIP. On fees, VTIP is cheaper at 0.03% per year. On volatility, VTIP has been the lower-risk option at 0.60%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 10-year period, VIOV has performed better with a 10.38% return vs 3.04%. 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 0.10% for VIOV.
VTIP has the higher dividend yield at 3.61%, compared with 1.58% for VIOV.
VIOV is categorized as Small Cap Value Equities, while VTIP is Inflation-Protected Bonds. VIOV tracks S&P SmallCap 600 Value Index, while VTIP tracks Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. Their fees differ too: 0.10% for VIOV and 0.03% for VTIP.
VTIP currently has the higher Sharpe Ratio (2.48 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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