VIPIX vs. RRPAX
VIPIX (Vanguard Inflation-Protected Securities Fund Institutional Shares) and RRPAX (SEI Institutional Investments Trust Real Return Fund) are both Inflation-Protected Bonds funds. Over the past 10 years, VIPIX returned 2.40%/yr vs 2.91%/yr for RRPAX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. VIPIX charges 0.07%/yr vs 0.02%/yr for RRPAX.
Performance
VIPIX vs. RRPAX - Performance Comparison
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Returns By Period
In the year-to-date period, VIPIX achieves a 0.47% return, which is significantly lower than RRPAX's 1.62% return. Over the past 10 years, VIPIX has underperformed RRPAX with an annualized return of 2.40%, while RRPAX has yielded a comparatively higher 2.91% annualized return.
VIPIX
- 1D
- 0.00%
- 1M
- -0.43%
- 6M
- 0.04%
- YTD
- 0.47%
- 1Y
- 1.92%
- 3Y*
- 3.69%
- 5Y*
- 0.31%
- 10Y*
- 2.40%
- ALL TIME*
- 3.53%
RRPAX
- 1D
- 0.00%
- 1M
- 0.29%
- 6M
- 0.96%
- YTD
- 1.62%
- 1Y
- 2.79%
- 3Y*
- 4.74%
- 5Y*
- 2.58%
- 10Y*
- 2.91%
- ALL TIME*
- 1.99%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VIPIX vs. RRPAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIPIX Vanguard Inflation-Protected Securities Fund Institutional Shares | 0.47% | 6.98% | 1.85% | 3.85% | -11.93% | 5.73% | 11.05% | 8.18% | -1.40% | 2.97% |
RRPAX SEI Institutional Investments Trust Real Return Fund | 1.62% | 6.53% | 4.54% | 3.49% | -4.06% | 5.41% | 5.64% | 5.01% | 0.31% | 0.73% |
Correlation
The correlation between VIPIX and RRPAX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2007 | 0.76 |
The correlation between VIPIX and RRPAX has been stable across timeframes, ranging from 0.71 to 0.81 - a consistent structural relationship.
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Return for Risk
VIPIX vs. RRPAX — Risk / Return Rank
VIPIX
RRPAX
VIPIX vs. RRPAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) and SEI Institutional Investments Trust Real Return Fund (RRPAX). 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 | RRPAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.93 | ||
| Sortino ratioReturn per unit of downside risk | -1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.35 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 3.30 | -2.06 |
| Martin ratioReturn relative to average drawdown | 3.38 | 10.00 | -6.62 |
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Drawdowns
VIPIX vs. RRPAX - Drawdown Comparison
The maximum VIPIX drawdown since its inception was -15.04%, smaller than the maximum RRPAX drawdown of -16.15%. Use the drawdown chart below to compare losses from any high point for VIPIX and RRPAX.
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Drawdown Indicators
| VIPIX | RRPAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.04% | -16.15% | +1.11% |
Max Drawdown (1Y)Largest decline over 1 year | -2.00% | -0.95% | -1.05% |
Max Drawdown (3Y)Largest decline over 3 years | -3.84% | -1.89% | -1.95% |
Max Drawdown (5Y)Largest decline over 5 years | -14.33% | -6.48% | -7.85% |
Max Drawdown (10Y)Largest decline over 10 years | -14.33% | -6.48% | -7.85% |
Current DrawdownCurrent decline from peak | -1.22% | -0.45% | -0.77% |
Average DrawdownAverage peak-to-trough decline | -3.34% | -2.93% | -0.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 0.31% | +0.42% |
Volatility
VIPIX vs. RRPAX - Volatility Comparison
Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) has a higher volatility of 0.79% compared to SEI Institutional Investments Trust Real Return Fund (RRPAX) at 0.49%. This indicates that VIPIX's price experiences larger fluctuations and is considered to be riskier than RRPAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIPIX | RRPAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 0.49% | +0.30% |
Volatility (6M)Calculated over the trailing 6-month period | 2.63% | 1.49% | +1.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.50% | 1.92% | +1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 3.24% | +2.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.36% | 2.70% | +2.66% |
VIPIX vs. RRPAX - Expense Ratio Comparison
VIPIX has a 0.07% expense ratio, which is higher than RRPAX's 0.02% 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
VIPIX vs. RRPAX - Dividend Comparison
VIPIX's dividend yield for the trailing twelve months is around 5.11%, less than RRPAX's 5.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RRPAX SEI Institutional Investments Trust Real Return Fund | 5.45% | 4.64% | 3.57% | 2.43% | 7.18% | 5.33% | 1.38% | 2.14% | 2.35% | 1.89% | 1.23% | 0.00% |
VIPIX Vanguard Inflation-Protected Securities Fund Institutional Shares | 5.11% | 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
VIPIX and RRPAX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIPIX has higher volatility (0.79%) compared to RRPAX (0.49%). In terms of maximum drawdown, VIPIX dropped -15.04% vs RRPAX's -16.15%.
RRPAX currently has the higher Sharpe Ratio (1.64 vs 0.71), 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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