VIPIX vs. FFNYX

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) and Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund (FFNYX).

VIPIX is managed by Vanguard. It was launched on Dec 12, 2003. FFNYX is a passively managed fund by Fidelity that tracks the performance of the Bloomberg US Treasury 0-5 Year TIPS Index. It was launched on Nov 4, 2025.

Performance

VIPIX vs. FFNYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) and Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund (FFNYX). The values are adjusted to include any dividend payments, if applicable.

VIPIX vs. FFNYX - Yearly Performance Comparison

	2026 (YTD)
VIPIX Vanguard Inflation-Protected Securities Fund Institutional Shares	-0.63%
FFNYX Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund	-0.10%

Returns By Period

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%

FFNYX

• 1D: 0.30%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VIPIX vs. FFNYX - Expense Ratio Comparison

VIPIX has a 0.07% expense ratio, which is higher than FFNYX'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%.

VIPIX

Vanguard Inflation-Protected Securities Fund Institutional Shares

FFNYX

Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund

Return for Risk

VIPIX vs. FFNYX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VIPIX

VIPIX Risk / Return Rank: 43
VIPIX Sharpe Ratio Rank: 41
VIPIX Sortino Ratio Rank: 37
VIPIX Omega Ratio Rank: 30
VIPIX Calmar Ratio Rank: 63
VIPIX Martin Ratio Rank: 42

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VIPIX vs. FFNYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) and Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund (FFNYX). 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	FFNYX	Difference
Sharpe ratio Return per unit of total volatility	0.84	—	—
Sortino ratio Return per unit of downside risk	1.18	—	—
Omega ratio Gain probability vs. loss probability	1.15	—	—
Calmar ratio Return relative to maximum drawdown	1.43	—	—
Martin ratio Return relative to average drawdown	4.28	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	VIPIX	FFNYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.84	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	-1.03	+1.65

Correlation

The correlation between VIPIX and FFNYX is 0.85, 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. FFNYX - Dividend Comparison

VIPIX's dividend yield for the trailing twelve months is around 4.48%, while FFNYX has not paid dividends to shareholders.

	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%
FFNYX Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

VIPIX vs. FFNYX - Drawdown Comparison

The maximum VIPIX drawdown since its inception was -15.04%, which is greater than FFNYX's maximum drawdown of -0.69%. Use the drawdown chart below to compare losses from any high point for VIPIX and FFNYX.

Drawdown Indicators

	VIPIX	FFNYX	Difference
Max Drawdown Largest peak-to-trough decline	-15.04%	-0.69%	-14.35%
Max Drawdown (1Y) Largest decline over 1 year	-2.82%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.33%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-14.33%	—	—
Current Drawdown Current decline from peak	-1.37%	-0.30%	-1.07%
Average Drawdown Average peak-to-trough decline	-3.38%	-0.40%	-2.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	—	—

Volatility

Volatility by Period

	VIPIX	FFNYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.46%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.39%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.17%	2.51%	+1.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.03%	2.51%	+3.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.38%	2.51%	+2.87%