VIPSX vs. TIPX
VIPSX (Vanguard Inflation-Protected Securities Fund Investor Shares) and TIPX (SPDR Bloomberg Barclays 1-10 Year TIPS ETF) are both Inflation-Protected Bonds funds - VIPSX tracks the Bloomberg U.S. Treasury Inflation Protected Securities Index while TIPX tracks the Bloomberg US Govt Inflation-Linked (1-10 Y). Both are passively managed. Over the past 10 years, VIPSX returned 2.30%/yr vs 2.83%/yr for TIPX. Their 0.75 correlation means they have sometimes moved together and sometimes differently. VIPSX charges 0.20%/yr vs 0.15%/yr for TIPX.
Performance
VIPSX vs. TIPX - Performance Comparison
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Returns By Period
In the year-to-date period, VIPSX achieves a 0.64% return, which is significantly lower than TIPX's 1.32% return. Over the past 10 years, VIPSX has underperformed TIPX with an annualized return of 2.30%, while TIPX has yielded a comparatively higher 2.83% annualized return.
VIPSX
- 1D
- 0.26%
- 1M
- -0.52%
- 6M
- 0.38%
- YTD
- 0.64%
- 1Y
- 1.73%
- 3Y*
- 3.76%
- 5Y*
- 0.29%
- 10Y*
- 2.30%
- ALL TIME*
- 4.28%
TIPX
- 1D
- 0.00%
- 1M
- -0.17%
- 6M
- 1.01%
- YTD
- 1.32%
- 1Y
- 2.46%
- 3Y*
- 4.64%
- 5Y*
- 1.84%
- 10Y*
- 2.83%
- ALL TIME*
- 2.22%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $8.24M | $6.98M | $8.82M | |
| $0.00 | $0.00 | $0.00 |
VIPSX vs. TIPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VIPSX Vanguard Inflation-Protected Securities Fund Investor Shares | 0.64% | 6.77% | 1.74% | 3.73% | -12.04% | 5.57% | 10.90% | 8.06% | -1.48% | 2.81% |
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 1.32% | 7.15% | 3.08% | 4.43% | -7.58% | 5.42% | 8.51% | 6.60% | -0.32% | 2.54% |
Correlation
The correlation between VIPSX and TIPX is 0.86, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.91 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.85 |
Correlation (All Time) Calculated using the full available price history since May 30, 2013 | 0.75 |
The correlation between VIPSX and TIPX shifts across timeframes, from 0.75 (all time) to 0.91 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
VIPSX vs. TIPX — Risk / Return Rank
VIPSX
TIPX
VIPSX vs. TIPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Inflation-Protected Securities Fund Investor Shares (VIPSX) and SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX). 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.
| VIPSX | TIPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.43 | ||
| Sortino ratioReturn per unit of downside risk | -0.63 | ||
| Omega ratioGain probability vs. loss probability | 1.09 | 1.17 | -0.08 |
| Calmar ratioReturn relative to maximum drawdown | 0.86 | 1.91 | -1.05 |
| Martin ratioReturn relative to average drawdown | 2.33 | 5.04 | -2.70 |
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Drawdowns
VIPSX vs. TIPX - Drawdown Comparison
The maximum VIPSX drawdown since its inception was -15.13%, which is greater than TIPX's maximum drawdown of -10.06%. Use the drawdown chart below to compare losses from any high point for VIPSX and TIPX.
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Drawdown Indicators
| VIPSX | TIPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.13% | -10.06% | -5.07% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -1.29% | -0.73% |
Max Drawdown (3Y)Largest decline over 3 years | -3.83% | -2.32% | -1.51% |
Max Drawdown (5Y)Largest decline over 5 years | -14.55% | -10.06% | -4.49% |
Max Drawdown (10Y)Largest decline over 10 years | -14.55% | -10.06% | -4.49% |
Current DrawdownCurrent decline from peak | -1.05% | -0.69% | -0.36% |
Average DrawdownAverage peak-to-trough decline | -3.22% | -2.26% | -0.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 0.49% | +0.26% |
Volatility
VIPSX vs. TIPX - Volatility Comparison
Vanguard Inflation-Protected Securities Fund Investor Shares (VIPSX) has a higher volatility of 0.71% compared to SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) at 0.62%. This indicates that VIPSX's price experiences larger fluctuations and is considered to be riskier than TIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VIPSX | TIPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 0.62% | +0.09% |
Volatility (6M)Calculated over the trailing 6-month period | 2.50% | 1.98% | +0.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.27% | 2.56% | +0.71% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.97% | 4.62% | +1.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.32% | 4.31% | +1.01% |
VIPSX vs. TIPX - Expense Ratio Comparison
VIPSX has a 0.20% expense ratio, which is higher than TIPX's 0.15% 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. TIPX - Dividend Comparison
VIPSX's dividend yield for the trailing twelve months is around 4.97%, less than TIPX's 5.64% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 5.64% | 3.78% | 3.57% | 3.57% | 6.08% | 4.26% | 1.73% | 2.53% | 1.90% | 2.84% | 1.04% | 0.06% |
VIPSX Vanguard Inflation-Protected Securities Fund Investor Shares | 4.97% | 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
VIPSX and TIPX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VIPSX has higher volatility (0.71%) compared to TIPX (0.62%). In terms of maximum drawdown, VIPSX dropped -15.13% vs TIPX's -10.06%.
TIPX currently has the higher Sharpe Ratio (0.97 vs 0.53), 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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