VIPSX vs. VAIPX
VIPSX (Vanguard Inflation-Protected Securities Fund Investor Shares) and VAIPX (Vanguard Inflation-Protected Securities Fund Admiral Shares) are both Inflation-Protected Bonds funds from Vanguard. Over the past 10 years, VIPSX returned 2.52%/yr vs 2.62%/yr for VAIPX. With a 0.99 correlation, they move nearly in lockstep. VIPSX charges 0.20%/yr vs 0.10%/yr for VAIPX.
Performance
VIPSX vs. VAIPX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with VIPSX having a 1.42% return and VAIPX slightly higher at 1.43%. Both investments have delivered pretty close results over the past 10 years, with VIPSX having a 2.52% annualized return and VAIPX not far ahead at 2.62%.
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%
VAIPX
- 1D
- -0.21%
- 1M
- -0.00%
- YTD
- 1.43%
- 6M
- 1.14%
- 1Y
- 4.63%
- 3Y*
- 3.97%
- 5Y*
- 1.04%
- 10Y*
- 2.62%
VIPSX vs. VAIPX - 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% |
VAIPX Vanguard Inflation-Protected Securities Fund Admiral Shares | 1.43% | 6.87% | 1.85% | 3.83% | -11.92% | 5.69% | 10.96% | 8.16% | -1.39% | 2.91% |
Correlation
The correlation between VIPSX and VAIPX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.99 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 13, 2005 | 0.99 |
The correlation between VIPSX and VAIPX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
VIPSX vs. VAIPX — Risk / Return Rank
VIPSX
VAIPX
VIPSX vs. VAIPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Inflation-Protected Securities Fund Investor Shares (VIPSX) and Vanguard Inflation-Protected Securities Fund Admiral Shares (VAIPX). 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 | VAIPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.07 | ||
| Omega ratioGain probability vs. loss probability | 1.26 | 1.27 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 2.49 | +0.01 |
| Martin ratioReturn relative to average drawdown | 7.64 | 7.88 | -0.23 |
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 | VAIPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.49 | 1.51 | -0.03 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.17 | -0.02 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.49 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.76 | 0.51 | +0.24 |
Drawdowns
VIPSX vs. VAIPX - Drawdown Comparison
The maximum VIPSX drawdown since its inception was -15.13%, roughly equal to the maximum VAIPX drawdown of -15.04%. Use the drawdown chart below to compare losses from any high point for VIPSX and VAIPX.
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Drawdown Indicators
| VIPSX | VAIPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.13% | -15.04% | -0.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -2.05% | +0.03% |
Max Drawdown (3Y)Largest decline over 3 years | -4.57% | -4.52% | -0.05% |
Max Drawdown (5Y)Largest decline over 5 years | -14.55% | -14.40% | -0.15% |
Max Drawdown (10Y)Largest decline over 10 years | -14.55% | -14.40% | -0.15% |
Current DrawdownCurrent decline from peak | -0.28% | -0.30% | +0.02% |
Average DrawdownAverage peak-to-trough decline | -3.24% | -3.81% | +0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.66% | 0.65% | +0.01% |
Volatility
VIPSX vs. VAIPX - Volatility Comparison
Vanguard Inflation-Protected Securities Fund Investor Shares (VIPSX) and Vanguard Inflation-Protected Securities Fund Admiral Shares (VAIPX) have volatilities of 1.02% and 0.99%, 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.
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Volatility by Period
| VIPSX | VAIPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.02% | 0.99% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 2.33% | 2.30% | +0.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.40% | 3.38% | +0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.99% | 5.99% | 0.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.33% | 5.32% | +0.01% |
VIPSX vs. VAIPX - Expense Ratio Comparison
VIPSX has a 0.20% expense ratio, which is higher than VAIPX's 0.10% 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. VAIPX - Dividend Comparison
VIPSX's dividend yield for the trailing twelve months is around 4.39%, less than VAIPX's 4.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VAIPX Vanguard Inflation-Protected Securities Fund Admiral Shares | 4.50% | 4.74% | 4.17% | 4.31% | 8.45% | 5.13% | 1.38% | 2.29% | 3.12% | 2.41% | 3.49% | 0.88% |
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 0.98, VIPSX and VAIPX 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 VAIPX (0.99%). In terms of maximum drawdown, VIPSX dropped -15.13% vs VAIPX's -15.04%.
VAIPX currently has the higher Sharpe Ratio (1.51 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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