VIPIX vs. IEF
Compare and contrast key facts about Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) and iShares 7-10 Year Treasury Bond ETF (IEF).
VIPIX is managed by Vanguard. It was launched on Dec 12, 2003. IEF is a passively managed fund by iShares that tracks the performance of the Barclays Capital U.S. 7-10 Year Treasury Bond Index. It was launched on Jul 26, 2002.
Performance
VIPIX vs. IEF - Performance Comparison
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VIPIX vs. IEF - 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% |
IEF iShares 7-10 Year Treasury Bond ETF | -0.14% | 8.03% | -0.63% | 3.64% | -15.15% | -3.33% | 10.01% | 8.03% | 0.99% | 2.55% |
Returns By Period
In the year-to-date period, VIPIX achieves a 0.32% return, which is significantly higher than IEF's -0.14% return. Over the past 10 years, VIPIX has outperformed IEF with an annualized return of 2.58%, while IEF has yielded a comparatively lower 0.78% 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%
IEF
- 1D
- 0.18%
- 1M
- -2.32%
- YTD
- -0.14%
- 6M
- 0.79%
- 1Y
- 3.95%
- 3Y*
- 2.25%
- 5Y*
- -0.76%
- 10Y*
- 0.78%
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VIPIX vs. IEF - Expense Ratio Comparison
VIPIX has a 0.07% expense ratio, which is lower than IEF's 0.15% expense ratio. Despite the difference, 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. IEF — Risk / Return Rank
VIPIX
IEF
VIPIX vs. IEF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) and iShares 7-10 Year Treasury Bond ETF (IEF). 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 | IEF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.84 | 0.74 | +0.10 |
Sortino ratioReturn per unit of downside risk | 1.18 | 1.09 | +0.09 |
Omega ratioGain probability vs. loss probability | 1.15 | 1.13 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.43 | 1.32 | +0.11 |
Martin ratioReturn relative to average drawdown | 4.28 | 3.31 | +0.96 |
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 | IEF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.84 | 0.74 | +0.10 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.23 | -0.10 | +0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.48 | 0.12 | +0.36 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.51 | +0.11 |
Correlation
The correlation between VIPIX and IEF is 0.79, 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. IEF - Dividend Comparison
VIPIX's dividend yield for the trailing twelve months is around 4.48%, more than IEF's 3.82% 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% |
IEF iShares 7-10 Year Treasury Bond ETF | 3.82% | 3.77% | 3.62% | 2.91% | 1.96% | 0.83% | 1.08% | 2.08% | 2.24% | 1.82% | 1.81% | 1.90% |
Drawdowns
VIPIX vs. IEF - Drawdown Comparison
The maximum VIPIX drawdown since its inception was -15.04%, smaller than the maximum IEF drawdown of -23.93%. Use the drawdown chart below to compare losses from any high point for VIPIX and IEF.
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Drawdown Indicators
| VIPIX | IEF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.04% | -23.93% | +8.89% |
Max Drawdown (1Y)Largest decline over 1 year | -2.82% | -3.22% | +0.40% |
Max Drawdown (5Y)Largest decline over 5 years | -14.33% | -21.40% | +7.07% |
Max Drawdown (10Y)Largest decline over 10 years | -14.33% | -23.93% | +9.60% |
Current DrawdownCurrent decline from peak | -1.37% | -10.88% | +9.51% |
Average DrawdownAverage peak-to-trough decline | -3.38% | -5.30% | +1.92% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 1.28% | -0.34% |
Volatility
VIPIX vs. IEF - Volatility Comparison
The current volatility for Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) is 1.46%, while iShares 7-10 Year Treasury Bond ETF (IEF) has a volatility of 1.91%. This indicates that VIPIX experiences smaller price fluctuations and is considered to be less risky than IEF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIPIX | IEF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.46% | 1.91% | -0.45% |
Volatility (6M)Calculated over the trailing 6-month period | 2.39% | 3.22% | -0.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.17% | 5.35% | -1.18% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 7.70% | -1.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.38% | 6.63% | -1.25% |