VIPIX vs. BND
Compare and contrast key facts about Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) and Vanguard Total Bond Market ETF (BND).
VIPIX is managed by Vanguard. It was launched on Dec 12, 2003. BND is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Aggregate Float Adjusted Index. It was launched on Apr 3, 2007.
Performance
VIPIX vs. BND - Performance Comparison
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VIPIX vs. BND - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIPIX Vanguard Inflation-Protected Securities Fund Institutional Shares | 0.32% | 6.98% | 1.85% | 3.85% | -11.93% | 5.73% | 11.05% | 8.18% | -1.40% | 2.97% |
BND Vanguard Total Bond Market ETF | 0.05% | 7.08% | 1.38% | 5.65% | -13.11% | -1.86% | 7.71% | 8.84% | -0.12% | 3.57% |
Returns By Period
In the year-to-date period, VIPIX achieves a 0.32% return, which is significantly higher than BND's 0.05% return. Over the past 10 years, VIPIX has outperformed BND with an annualized return of 2.58%, while BND has yielded a comparatively lower 1.67% annualized return.
VIPIX
- 1D
- 0.64%
- 1M
- -1.37%
- YTD
- 0.32%
- 6M
- 0.46%
- 1Y
- 2.99%
- 3Y*
- 3.12%
- 5Y*
- 1.40%
- 10Y*
- 2.58%
BND
- 1D
- 0.22%
- 1M
- -1.74%
- YTD
- 0.05%
- 6M
- 0.95%
- 1Y
- 4.24%
- 3Y*
- 3.59%
- 5Y*
- 0.24%
- 10Y*
- 1.67%
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VIPIX vs. BND - Expense Ratio Comparison
VIPIX has a 0.07% expense ratio, which is higher than BND'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%.
Return for Risk
VIPIX vs. BND — Risk / Return Rank
VIPIX
BND
VIPIX vs. BND - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) and Vanguard Total Bond Market ETF (BND). 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.
| VIPIX | BND | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.84 | 0.99 | -0.15 |
Sortino ratioReturn per unit of downside risk | 1.18 | 1.41 | -0.22 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.18 | -0.02 |
Calmar ratioReturn relative to maximum drawdown | 1.43 | 1.81 | -0.38 |
Martin ratioReturn relative to average drawdown | 4.28 | 4.98 | -0.70 |
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
| VIPIX | BND | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 0.99 | -0.15 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | 0.04 | +0.19 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.30 | +0.18 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.59 | +0.03 |
Correlation
The correlation between VIPIX and BND is 0.77, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
VIPIX vs. BND - Dividend Comparison
VIPIX's dividend yield for the trailing twelve months is around 4.48%, more than BND's 3.91% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIPIX Vanguard Inflation-Protected Securities Fund Institutional Shares | 4.48% | 4.77% | 4.20% | 4.34% | 8.49% | 5.16% | 1.41% | 2.32% | 3.15% | 2.45% | 3.50% | 0.91% |
BND Vanguard Total Bond Market ETF | 3.91% | 3.86% | 3.67% | 3.09% | 2.60% | 2.12% | 2.38% | 2.72% | 2.81% | 2.54% | 2.51% | 2.57% |
Drawdowns
VIPIX vs. BND - Drawdown Comparison
The maximum VIPIX drawdown since its inception was -15.04%, smaller than the maximum BND drawdown of -18.58%. Use the drawdown chart below to compare losses from any high point for VIPIX and BND.
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Drawdown Indicators
| VIPIX | BND | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.04% | -18.58% | +3.54% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -2.44% | -0.38% |
Max Drawdown (5Y)Largest decline over 5 years | -14.33% | -17.91% | +3.58% |
Max Drawdown (10Y)Largest decline over 10 years | -14.33% | -18.58% | +4.25% |
Current DrawdownCurrent decline from peak | -1.37% | -2.58% | +1.21% |
Average DrawdownAverage peak-to-trough decline | -3.38% | -3.07% | -0.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 0.89% | +0.05% |
Volatility
VIPIX vs. BND - Volatility Comparison
The current volatility for Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) is 1.46%, while Vanguard Total Bond Market ETF (BND) has a volatility of 1.63%. This indicates that VIPIX experiences smaller price fluctuations and is considered to be less risky than BND based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIPIX | BND | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 1.63% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.39% | 2.52% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.17% | 4.30% | -0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 6.00% | +0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.38% | 5.52% | -0.14% |