VIPSX vs. FIPDX
VIPSX (Vanguard Inflation-Protected Securities Fund Investor Shares) and FIPDX (Fidelity Inflation-Protected Bond Index Fund) are both Inflation-Protected Bonds funds. Over the past 10 years, VIPSX returned 2.52%/yr vs 2.66%/yr for FIPDX. With a 0.96 correlation, they move nearly in lockstep. VIPSX charges 0.20%/yr vs 0.05%/yr for FIPDX.
Performance
VIPSX vs. FIPDX - Performance Comparison
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Returns By Period
In the year-to-date period, VIPSX achieves a 1.42% return, which is significantly lower than FIPDX's 1.55% return. Over the past 10 years, VIPSX has underperformed FIPDX with an annualized return of 2.52%, while FIPDX has yielded a comparatively higher 2.66% annualized return.
VIPSX
- 1D
- -0.17%
- 1M
- -0.00%
- YTD
- 1.42%
- 6M
- 1.12%
- 1Y
- 4.57%
- 3Y*
- 3.87%
- 5Y*
- 0.95%
- 10Y*
- 2.52%
FIPDX
- 1D
- -0.11%
- 1M
- 0.11%
- YTD
- 1.55%
- 6M
- 1.22%
- 1Y
- 4.77%
- 3Y*
- 4.04%
- 5Y*
- 1.11%
- 10Y*
- 2.66%
VIPSX vs. FIPDX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIPSX Vanguard Inflation-Protected Securities Fund Investor Shares | 1.42% | 6.77% | 1.74% | 3.73% | -12.04% | 5.57% | 10.90% | 8.06% | -1.48% | 2.81% |
FIPDX Fidelity Inflation-Protected Bond Index Fund | 1.55% | 6.90% | 2.00% | 3.77% | -12.09% | 5.94% | 10.90% | 8.32% | -1.37% | 2.98% |
Correlation
The correlation between VIPSX and FIPDX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since May 11, 2012 | 0.96 |
The correlation between VIPSX and FIPDX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.
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Return for Risk
VIPSX vs. FIPDX — Risk / Return Rank
VIPSX
FIPDX
VIPSX vs. FIPDX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Inflation-Protected Securities Fund Investor Shares (VIPSX) and Fidelity Inflation-Protected Bond Index Fund (FIPDX). 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.
| VIPSX | FIPDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.05 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.28 | -0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 2.65 | -0.15 |
| Martin ratioReturn relative to average drawdown | 7.64 | 7.78 | -0.13 |
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
| VIPSX | FIPDX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.49 | 1.53 | -0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.19 | -0.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.50 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.41 | +0.35 |
Drawdowns
VIPSX vs. FIPDX - Drawdown Comparison
The maximum VIPSX drawdown since its inception was -15.13%, which is greater than FIPDX's maximum drawdown of -14.32%. Use the drawdown chart below to compare losses from any high point for VIPSX and FIPDX.
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Drawdown Indicators
| VIPSX | FIPDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.13% | -14.32% | -0.81% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -1.94% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -4.57% | -4.49% | -0.08% |
Max Drawdown (5Y)Largest decline over 5 years | -14.55% | -14.32% | -0.23% |
Max Drawdown (10Y)Largest decline over 10 years | -14.55% | -14.32% | -0.23% |
Current DrawdownCurrent decline from peak | -0.28% | -0.22% | -0.06% |
Average DrawdownAverage peak-to-trough decline | -3.24% | -4.47% | +1.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.66% | 0.00% |
Volatility
VIPSX vs. FIPDX - Volatility Comparison
Vanguard Inflation-Protected Securities Fund Investor Shares (VIPSX) has a higher volatility of 1.02% compared to Fidelity Inflation-Protected Bond Index Fund (FIPDX) at 0.90%. This indicates that VIPSX's price experiences larger fluctuations and is considered to be riskier than FIPDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIPSX | FIPDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 0.90% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.33% | 2.28% | +0.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.40% | 3.36% | +0.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.99% | 5.97% | +0.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.33% | 5.37% | -0.04% |
VIPSX vs. FIPDX - Expense Ratio Comparison
VIPSX has a 0.20% expense ratio, which is higher than FIPDX'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
VIPSX vs. FIPDX - Dividend Comparison
VIPSX's dividend yield for the trailing twelve months is around 4.39%, more than FIPDX's 3.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIPDX Fidelity Inflation-Protected Bond Index Fund | 3.79% | 4.18% | 3.75% | 3.56% | 8.87% | 4.76% | 1.24% | 1.97% | 2.26% | 1.29% | 1.34% | 0.38% |
VIPSX Vanguard Inflation-Protected Securities Fund Investor Shares | 4.39% | 4.64% | 4.07% | 4.20% | 8.34% | 5.03% | 1.28% | 2.22% | 3.03% | 2.32% | 3.38% | 0.77% |
Frequently Asked Questions
With a correlation of 0.94, VIPSX and FIPDX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
VIPSX has higher volatility (1.02%) compared to FIPDX (0.90%). In terms of maximum drawdown, VIPSX dropped -15.13% vs FIPDX's -14.32%.
FIPDX currently has the higher Sharpe Ratio (1.53 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.
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