VIPIX vs. VBTIX
VIPIX (Vanguard Inflation-Protected Securities Fund Institutional Shares) and VBTIX (Vanguard Total Bond Market Index Fund Institutional Shares) are both mutual funds - VIPIX is a Inflation-Protected Bonds fund actively managed by Vanguard, while VBTIX is a Total Bond Market fund tracking the Bloomberg U.S. Aggregate Float Adjusted Index. VIPIX is actively managed, while VBTIX is passively managed. Over the past 10 years, VIPIX returned 2.40%/yr vs 1.29%/yr for VBTIX. Their 0.77 correlation means they have sometimes moved together and sometimes differently. VIPIX charges 0.07%/yr vs 0.03%/yr for VBTIX.
Performance
VIPIX vs. VBTIX - Performance Comparison
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Returns By Period
In the year-to-date period, VIPIX achieves a 0.47% return, which is significantly higher than VBTIX's -0.70% return. Over the past 10 years, VIPIX has outperformed VBTIX with an annualized return of 2.40%, while VBTIX has yielded a comparatively lower 1.29% 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%
VBTIX
- 1D
- 0.00%
- 1M
- -1.25%
- 6M
- -0.93%
- YTD
- -0.70%
- 1Y
- 1.68%
- 3Y*
- 3.70%
- 5Y*
- -0.44%
- 10Y*
- 1.29%
- ALL TIME*
- 4.17%
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. VBTIX - 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% |
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | -0.70% | 7.18% | 1.27% | 5.75% | -13.15% | -1.95% | 7.75% | 8.74% | -0.24% | 3.56% |
Correlation
The correlation between VIPIX and VBTIX is 0.76, 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. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.86 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Dec 15, 2003 | 0.77 |
The correlation between VIPIX and VBTIX shifts across timeframes, from 0.76 (1 year) to 0.86 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VIPIX vs. VBTIX — Risk / Return Rank
VIPIX
VBTIX
VIPIX vs. VBTIX - 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 Total Bond Market Index Fund Institutional Shares (VBTIX). 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 | VBTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.13 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 1.24 | 1.00 | +0.24 |
| Martin ratioReturn relative to average drawdown | 3.38 | 2.49 | +0.89 |
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Drawdowns
VIPIX vs. VBTIX - Drawdown Comparison
The maximum VIPIX drawdown since its inception was -15.04%, smaller than the maximum VBTIX drawdown of -18.90%. Use the drawdown chart below to compare losses from any high point for VIPIX and VBTIX.
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Drawdown Indicators
| VIPIX | VBTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.04% | -18.90% | +3.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.00% | -2.89% | +0.89% |
Max Drawdown (3Y)Largest decline over 3 years | -3.84% | -4.86% | +1.02% |
Max Drawdown (5Y)Largest decline over 5 years | -14.33% | -18.13% | +3.80% |
Max Drawdown (10Y)Largest decline over 10 years | -14.33% | -18.90% | +4.57% |
Current DrawdownCurrent decline from peak | -1.22% | -3.34% | +2.12% |
Average DrawdownAverage peak-to-trough decline | -3.34% | -2.32% | -1.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.73% | 1.15% | -0.42% |
Volatility
VIPIX vs. VBTIX - Volatility Comparison
The current volatility for Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) is 0.79%, while Vanguard Total Bond Market Index Fund Institutional Shares (VBTIX) has a volatility of 0.96%. This indicates that VIPIX experiences smaller price fluctuations and is considered to be less risky than VBTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIPIX | VBTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.79% | 0.96% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 2.63% | 2.97% | -0.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.50% | 3.82% | -0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.02% | 6.02% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.36% | 4.98% | +0.38% |
VIPIX vs. VBTIX - Expense Ratio Comparison
VIPIX has a 0.07% expense ratio, which is higher than VBTIX's 0.03% 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. VBTIX - Dividend Comparison
VIPIX's dividend yield for the trailing twelve months is around 5.11%, more than VBTIX's 3.73% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBTIX Vanguard Total Bond Market Index Fund Institutional Shares | 3.73% | 3.88% | 3.69% | 3.12% | 2.61% | 1.81% | 2.41% | 2.75% | 2.58% | 2.56% | 2.54% | 2.84% |
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 VBTIX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBTIX has higher volatility (0.96%) compared to VIPIX (0.79%). In terms of maximum drawdown, VIPIX dropped -15.04% vs VBTIX's -18.90%.
VBTIX currently has the higher Sharpe Ratio (0.76 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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