VIPIX vs. VBIMX

Last updated Jun 25, 2026

VIPIX (Vanguard Inflation-Protected Securities Fund Institutional Shares) and VBIMX (Vanguard Intermediate-Term Bond Index Fund Institutional Shares) are both mutual funds - VIPIX is a Inflation-Protected Bonds fund managed by Vanguard, while VBIMX is a Total Bond Market fund managed by Vanguard. Over the past 10 years, VIPIX returned 2.51%/yr vs 1.80%/yr for VBIMX. A 0.79 correlation means they provide meaningful diversification when combined. VIPIX charges 0.07%/yr vs 0.05%/yr for VBIMX.

Performance

VIPIX vs. VBIMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) and Vanguard Intermediate-Term Bond Index Fund Institutional Shares (VBIMX). 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 higher than VBIMX's -0.42% return. Over the past 10 years, VIPIX has outperformed VBIMX with an annualized return of 2.51%, while VBIMX has yielded a comparatively lower 1.80% annualized return.

VIPIX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.63%
• 6M: 0.63%
• 1Y: 3.41%
• 3Y*: 3.65%
• 5Y*: 0.94%
• 10Y*: 2.51%

VBIMX

• 1D: 0.10%
• 1M: 0.57%
• YTD: -0.42%
• 6M: -0.16%
• 1Y: 3.58%
• 3Y*: 4.29%
• 5Y*: 0.14%
• 10Y*: 1.80%

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

VIPIX vs. VBIMX - 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%
VBIMX Vanguard Intermediate-Term Bond Index Fund Institutional Shares	-0.42%	8.59%	1.55%	5.78%	-13.25%	-2.50%	9.83%	10.22%	-0.13%	3.89%

Correlation

The correlation between VIPIX and VBIMX is 0.78, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.79
Correlation (All Time) Calculated using the full available price history since Jan 26, 2006	0.79

The correlation between VIPIX and VBIMX has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.

Return for Risk

VIPIX vs. VBIMX — Risk / Return Rank

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

VIPIX

VIPIX Risk / Return Rank: 19
VIPIX Sharpe Ratio Rank: 15
VIPIX Sortino Ratio Rank: 16
VIPIX Omega Ratio Rank: 14
VIPIX Calmar Ratio Rank: 27
VIPIX Martin Ratio Rank: 24

VBIMX

VBIMX Risk / Return Rank: 13
VBIMX Sharpe Ratio Rank: 14
VBIMX Sortino Ratio Rank: 15
VBIMX Omega Ratio Rank: 13
VBIMX Calmar Ratio Rank: 14
VBIMX Martin Ratio Rank: 12

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. VBIMX - 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 Intermediate-Term Bond Index Fund Institutional Shares (VBIMX). 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	VBIMX	Difference
Sharpe ratio: Return per unit of total volatility	1.01	0.94	+0.07
Sortino ratio: Return per unit of downside risk	1.52	1.42	+0.11
Omega ratio: Gain probability vs. loss probability	1.18	1.16	+0.01
Calmar ratio: Return relative to maximum drawdown	1.77	1.14	+0.63
Martin ratio: Return relative to average drawdown	5.26	3.14	+2.12

VIPIX vs. VBIMX - Sharpe Ratio Comparison

The current VIPIX Sharpe Ratio is 1.01, which is comparable to the VBIMX Sharpe Ratio of 0.94. The chart below compares the historical Sharpe Ratios of VIPIX and VBIMX, 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. VBIMX - Drawdown Comparison

The maximum VIPIX drawdown since its inception was -15.04%, smaller than the maximum VBIMX drawdown of -19.07%. Use the drawdown chart below to compare losses from any high point for VIPIX and VBIMX.

Drawdown Indicators

	VIPIX	VBIMX	Difference
Max Drawdown Largest peak-to-trough decline	-15.04%	-19.07%	+4.03%
Max Drawdown (1Y) Largest decline over 1 year	-2.00%	-3.42%	+1.42%
Max Drawdown (3Y) Largest decline over 3 years	-4.46%	-6.05%	+1.59%
Max Drawdown (5Y) Largest decline over 5 years	-14.33%	-18.84%	+4.51%
Max Drawdown (10Y) Largest decline over 10 years	-14.33%	-19.07%	+4.74%
Current Drawdown Current decline from peak	-1.06%	-2.21%	+1.15%
Average Drawdown Average peak-to-trough decline	-3.35%	-3.32%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	1.24%	-0.57%

Volatility

VIPIX vs. VBIMX - Volatility Comparison

Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) and Vanguard Intermediate-Term Bond Index Fund Institutional Shares (VBIMX) have volatilities of 1.30% and 1.33%, 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	VBIMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.30%	1.33%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.57%	3.12%	-0.55%
Volatility (1Y) Calculated over the trailing 1-year period	3.50%	4.15%	-0.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.02%	6.39%	-0.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.37%	5.38%	-0.01%

VIPIX vs. VBIMX - Expense Ratio Comparison

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

Dividends

VIPIX vs. VBIMX - Dividend Comparison

VIPIX's dividend yield for the trailing twelve months is around 4.56%, more than VBIMX's 4.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VBIMX Vanguard Intermediate-Term Bond Index Fund Institutional Shares	4.25%	4.03%	3.82%	2.82%	2.41%	3.23%	2.95%	2.75%	2.89%	2.76%	3.08%	3.12%
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 VBIMX in my portfolio?

VIPIX and VBIMX have a correlation of 0.78, 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 VBIMX?

VBIMX has higher volatility (1.33%) compared to VIPIX (1.30%). In terms of maximum drawdown, VIPIX dropped -15.04% vs VBIMX's -19.07%.

Which has better risk-adjusted returns?

VIPIX currently has the higher Sharpe Ratio (1.01 vs 0.94), 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.