VIPIX vs. IBRIX

Last updated Jun 24, 2026

VIPIX (Vanguard Inflation-Protected Securities Fund Institutional Shares) and IBRIX (VY BlackRock Inflation Protected Bond Portfolio) are both Inflation-Protected Bonds funds. Over the past 10 years, VIPIX returned 2.51%/yr vs 2.43%/yr for IBRIX. Their correlation of 0.91 suggests significant overlap in exposure. VIPIX charges 0.07%/yr vs 0.58%/yr for IBRIX.

Performance

VIPIX vs. IBRIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) and VY BlackRock Inflation Protected Bond Portfolio (IBRIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VIPIX achieves a 0.63% return, which is significantly lower than IBRIX's 1.55% return. Both investments have delivered pretty close results over the past 10 years, with VIPIX having a 2.51% annualized return and IBRIX not far behind at 2.43%.

VIPIX

• 1D: -0.42%
• 1M: 0.00%
• YTD: 0.63%
• 6M: 0.84%
• 1Y: 3.52%
• 3Y*: 3.65%
• 5Y*: 0.90%
• 10Y*: 2.51%

IBRIX

• 1D: -0.43%
• 1M: -0.22%
• YTD: 1.55%
• 6M: 1.57%
• 1Y: 3.89%
• 3Y*: 3.76%
• 5Y*: 0.83%
• 10Y*: 2.43%

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

VIPIX vs. IBRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VIPIX Vanguard Inflation-Protected Securities Fund Institutional Shares	0.63%	6.98%	1.85%	3.85%	-11.93%	5.73%	11.05%	8.18%	-1.40%	2.97%
IBRIX VY BlackRock Inflation Protected Bond Portfolio	1.55%	6.11%	2.09%	4.30%	-12.63%	5.25%	11.04%	8.32%	-1.75%	2.71%

Correlation

The correlation between VIPIX and IBRIX is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.87
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Apr 30, 2007	0.91

The correlation between VIPIX and IBRIX shifts across timeframes, from 0.80 (1 year) to 0.91 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

VIPIX vs. IBRIX — Risk / Return Rank

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

VIPIX

VIPIX Risk / Return Rank: 20
VIPIX Sharpe Ratio Rank: 16
VIPIX Sortino Ratio Rank: 16
VIPIX Omega Ratio Rank: 14
VIPIX Calmar Ratio Rank: 27
VIPIX Martin Ratio Rank: 24

IBRIX

IBRIX Risk / Return Rank: 13
IBRIX Sharpe Ratio Rank: 7
IBRIX Sortino Ratio Rank: 7
IBRIX Omega Ratio Rank: 16
IBRIX Calmar Ratio Rank: 10
IBRIX Martin Ratio Rank: 24

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. IBRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) and VY BlackRock Inflation Protected Bond Portfolio (IBRIX). 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.

	VIPIX	IBRIX	Difference
Sharpe ratio: Return per unit of total volatility	1.04	0.56	+0.48
Sortino ratio: Return per unit of downside risk	1.57	0.88	+0.69
Omega ratio: Gain probability vs. loss probability	1.18	1.19	-0.01
Calmar ratio: Return relative to maximum drawdown	1.83	0.94	+0.88
Martin ratio: Return relative to average drawdown	5.46	5.21	+0.24

VIPIX vs. IBRIX - Sharpe Ratio Comparison

The current VIPIX Sharpe Ratio is 1.04, which is higher than the IBRIX Sharpe Ratio of 0.56. The chart below compares the historical Sharpe Ratios of VIPIX and IBRIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VIPIX vs. IBRIX - Drawdown Comparison

The maximum VIPIX drawdown since its inception was -15.04%, roughly equal to the maximum IBRIX drawdown of -15.82%. Use the drawdown chart below to compare losses from any high point for VIPIX and IBRIX.

Drawdown Indicators

	VIPIX	IBRIX	Difference
Max Drawdown Largest peak-to-trough decline	-15.04%	-15.82%	+0.78%
Max Drawdown (1Y) Largest decline over 1 year	-2.00%	-4.81%	+2.81%
Max Drawdown (3Y) Largest decline over 3 years	-4.46%	-5.68%	+1.22%
Max Drawdown (5Y) Largest decline over 5 years	-14.33%	-15.82%	+1.49%
Max Drawdown (10Y) Largest decline over 10 years	-14.33%	-15.82%	+1.49%
Current Drawdown Current decline from peak	-1.06%	-0.97%	-0.09%
Average Drawdown Average peak-to-trough decline	-3.35%	-4.11%	+0.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	0.83%	-0.16%

Volatility

VIPIX vs. IBRIX - Volatility Comparison

Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) and VY BlackRock Inflation Protected Bond Portfolio (IBRIX) have volatilities of 1.30% and 1.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VIPIX	IBRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.30%	1.31%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.58%	7.35%	-4.77%
Volatility (1Y) Calculated over the trailing 1-year period	3.51%	8.14%	-4.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.02%	7.07%	-1.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.37%	5.93%	-0.56%

VIPIX vs. IBRIX - Expense Ratio Comparison

VIPIX has a 0.07% expense ratio, which is lower than IBRIX's 0.58% expense ratio.

Dividends

VIPIX vs. IBRIX - Dividend Comparison

VIPIX's dividend yield for the trailing twelve months is around 4.56%, more than IBRIX's 3.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IBRIX VY BlackRock Inflation Protected Bond Portfolio	3.85%	3.31%	3.87%	3.55%	4.96%	2.68%	1.70%	2.38%	2.51%	1.52%	0.00%	1.41%
VIPIX Vanguard Inflation-Protected Securities Fund Institutional Shares	4.56%	4.77%	4.20%	4.34%	8.49%	5.16%	1.41%	2.32%	3.15%	2.45%	3.50%	0.91%

Frequently Asked Questions

Can I hold both VIPIX and IBRIX in my portfolio?

VIPIX and IBRIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VIPIX or IBRIX?

IBRIX has higher volatility (1.31%) compared to VIPIX (1.30%). In terms of maximum drawdown, VIPIX dropped -15.04% vs IBRIX's -15.82%.

Which has better risk-adjusted returns?

VIPIX currently has the higher Sharpe Ratio (1.04 vs 0.56), 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.