VIPIX vs. VTSPX
VIPIX (Vanguard Inflation-Protected Securities Fund Institutional Shares) and VTSPX (Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares) are both Inflation-Protected Bonds funds from Vanguard. Over the past 10 years, VIPIX returned 2.67%/yr vs 3.16%/yr for VTSPX. Their correlation of 0.80 suggests significant overlap in exposure. VIPIX charges 0.07%/yr vs 0.04%/yr for VTSPX.
Performance
VIPIX vs. VTSPX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, VIPIX achieves a 1.59% return, which is significantly lower than VTSPX's 2.06% return. Over the past 10 years, VIPIX has underperformed VTSPX with an annualized return of 2.67%, while VTSPX has yielded a comparatively higher 3.16% annualized return.
VIPIX
- 1D
- -0.11%
- 1M
- 0.11%
- YTD
- 1.59%
- 6M
- 1.20%
- 1Y
- 5.29%
- 3Y*
- 4.06%
- 5Y*
- 1.18%
- 10Y*
- 2.67%
VTSPX
- 1D
- 0.00%
- 1M
- 0.04%
- YTD
- 2.06%
- 6M
- 2.05%
- 1Y
- 4.72%
- 3Y*
- 5.26%
- 5Y*
- 3.40%
- 10Y*
- 3.16%
VIPIX vs. VTSPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIPIX Vanguard Inflation-Protected Securities Fund Institutional Shares | 1.59% | 6.98% | 1.85% | 3.85% | -11.93% | 5.73% | 11.05% | 8.18% | -1.40% | 2.97% |
VTSPX Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares | 2.06% | 6.06% | 4.75% | 4.61% | -2.82% | 5.32% | 4.99% | 4.82% | 0.59% | 0.83% |
Correlation
The correlation between VIPIX and VTSPX is 0.77, 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 | 0.77 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.82 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.81 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013 | 0.80 |
The correlation between VIPIX and VTSPX has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
VIPIX vs. VTSPX — Risk / Return Rank
VIPIX
VTSPX
VIPIX vs. VTSPX - 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 Short-Term Inflation-Protected Securities Index Fund Institutional Shares (VTSPX). 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 | VTSPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.56 | ||
| Sortino ratioReturn per unit of downside risk | -2.90 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.67 | -0.40 |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | 6.50 | -3.89 |
| Martin ratioReturn relative to average drawdown | 7.88 | 25.54 | -17.66 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| VIPIX | VTSPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.49 | 3.06 | -1.56 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.20 | 1.28 | -1.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.50 | 1.42 | -0.92 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.62 | 1.08 | -0.46 |
Drawdowns
VIPIX vs. VTSPX - Drawdown Comparison
The maximum VIPIX drawdown since its inception was -15.04%, which is greater than VTSPX's maximum drawdown of -5.35%. Use the drawdown chart below to compare losses from any high point for VIPIX and VTSPX.
Loading charts...
Drawdown Indicators
| VIPIX | VTSPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.04% | -5.35% | -9.69% |
Max Drawdown (1Y)Largest decline over 1 year | -2.00% | -0.72% | -1.28% |
Max Drawdown (3Y)Largest decline over 3 years | -4.46% | -0.92% | -3.54% |
Max Drawdown (5Y)Largest decline over 5 years | -14.33% | -5.35% | -8.98% |
Max Drawdown (10Y)Largest decline over 10 years | -14.33% | -5.35% | -8.98% |
Current DrawdownCurrent decline from peak | -0.12% | -0.04% | -0.08% |
Average DrawdownAverage peak-to-trough decline | -3.35% | -1.01% | -2.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.18% | +0.48% |
Volatility
VIPIX vs. VTSPX - Volatility Comparison
Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) has a higher volatility of 1.03% compared to Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares (VTSPX) at 0.57%. This indicates that VIPIX's price experiences larger fluctuations and is considered to be riskier than VTSPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| VIPIX | VTSPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 0.57% | +0.46% |
Volatility (6M)Calculated over the trailing 6-month period | 2.42% | 1.12% | +1.30% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.49% | 1.52% | +1.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.03% | 2.67% | +3.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.37% | 2.23% | +3.14% |
VIPIX vs. VTSPX - Expense Ratio Comparison
VIPIX has a 0.07% expense ratio, which is higher than VTSPX's 0.04% 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. VTSPX - Dividend Comparison
VIPIX's dividend yield for the trailing twelve months is around 4.52%, more than VTSPX's 3.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VIPIX Vanguard Inflation-Protected Securities Fund Institutional Shares | 4.52% | 4.77% | 4.20% | 4.34% | 8.49% | 5.16% | 1.41% | 2.32% | 3.15% | 2.45% | 3.50% | 0.91% |
VTSPX Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares | 3.59% | 3.81% | 2.70% | 2.86% | 6.84% | 4.69% | 1.21% | 1.96% | 2.47% | 1.52% | 0.80% | 0.00% |
Frequently Asked Questions
VIPIX and VTSPX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIPIX has higher volatility (1.03%) compared to VTSPX (0.57%). In terms of maximum drawdown, VIPIX dropped -15.04% vs VTSPX's -5.35%.
VTSPX currently has the higher Sharpe Ratio (3.06 vs 1.49), 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.
Find the right allocation for VIPIX and VTSPX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer