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VPL vs. SPIP
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VPL vs. SPIP

Last updated Jun 4, 2026

VPL (Vanguard FTSE Pacific ETF) and SPIP (SPDR Portfolio TIPS ETF) are both exchange-traded funds - VPL is a Asia Pacific Equities fund tracking the FTSE Developed Asia Pacific Index, while SPIP is a Inflation-Protected Bonds fund tracking the Bloomberg Barclays US Government Inflation-linked Bond Index. Both are passively managed. Over the past 10 years, VPL returned 10.84%/yr vs 2.61%/yr for SPIP. At a correlation of -0.05, they often move in opposite directions. VPL charges 0.08%/yr vs 0.12%/yr for SPIP.

Performance

VPL vs. SPIP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard FTSE Pacific ETF (VPL) and SPDR Portfolio TIPS ETF (SPIP). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, VPL achieves a 30.29% return, which is significantly higher than SPIP's 1.49% return. Over the past 10 years, VPL has outperformed SPIP with an annualized return of 10.84%, while SPIP has yielded a comparatively lower 2.61% annualized return.

VPL

1D
-0.28%
1M
10.45%
YTD
30.29%
6M
33.07%
1Y
53.61%
3Y*
23.02%
5Y*
10.36%
10Y*
10.84%

SPIP

1D
-0.16%
1M
0.02%
YTD
1.49%
6M
1.02%
1Y
4.97%
3Y*
3.85%
5Y*
0.87%
10Y*
2.61%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VPL vs. SPIP - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VPL
Vanguard FTSE Pacific ETF		30.29%32.66%1.68%15.58%-15.20%1.10%16.65%18.16%-14.40%28.85%
SPIP
SPDR Portfolio TIPS ETF		1.49%6.78%2.35%2.98%-12.84%5.80%11.41%9.14%-1.53%3.16%

Correlation

The correlation between VPL and SPIP is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.28

Correlation (3Y)
Calculated over the trailing 3-year period

0.27

Correlation (5Y)
Calculated over the trailing 5-year period

0.21

Correlation (10Y)
Calculated over the trailing 10-year period

0.10

Correlation (All Time)
Calculated using the full available price history since May 31, 2007

-0.05

The correlation between VPL and SPIP shifts across timeframes, from -0.05 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

Vanguard FTSE Pacific ETF

SPDR Portfolio TIPS ETF

Often compared with VPL:
VPL vs. AAXJVPL vs. VEAVPL vs. VWOVPL vs. IPACVPL vs. VXUSVPL vs. VGKVPL vs. VEU
Often compared with SPIP:
SPIP vs. TIPSPIP vs. VTIPSPIP vs. SCHPSPIP vs. TIPXSPIP vs. FIPDXSPIP vs. TDTTSPIP vs. BKLN

Return for Risk

VPL vs. SPIP — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VPL
VPL Risk / Return Rank: 8080
Overall Rank
VPL Sharpe Ratio Rank: 8383
Sharpe Ratio Rank
VPL Sortino Ratio Rank: 7878
Sortino Ratio Rank
VPL Omega Ratio Rank: 8181
Omega Ratio Rank
VPL Calmar Ratio Rank: 7878
Calmar Ratio Rank
VPL Martin Ratio Rank: 8080
Martin Ratio Rank
SPIP
SPIP Risk / Return Rank: 4141
Overall Rank
SPIP Sharpe Ratio Rank: 3939
Sharpe Ratio Rank
SPIP Sortino Ratio Rank: 3939
Sortino Ratio Rank
SPIP Omega Ratio Rank: 3737
Omega Ratio Rank
SPIP Calmar Ratio Rank: 4949
Calmar Ratio Rank
SPIP Martin Ratio Rank: 4444
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VPL vs. SPIP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard FTSE Pacific ETF (VPL) and SPDR Portfolio TIPS ETF (SPIP). 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.

VPLSPIPDifference
Sharpe ratioReturn per unit of total volatility
2.76
1.40

+1.36

Sortino ratioReturn per unit of downside risk
3.60
2.04

+1.55

Omega ratioGain probability vs. loss probability

1.49

1.25

+0.24

Calmar ratioReturn relative to maximum drawdown

4.04

2.44

+1.60

Martin ratioReturn relative to average drawdown

15.95

7.15

+8.80

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VPL vs. SPIP - Sharpe Ratio Comparison

The current VPL Sharpe Ratio is 2.76, which is higher than the SPIP Sharpe Ratio of 1.40. The chart below compares the historical Sharpe Ratios of VPL and SPIP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

VPLSPIPDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.76

1.40

+1.36

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.60

0.13

+0.47

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.63

0.44

+0.19

Sharpe Ratio (All Time)

Calculated using the full available price history

0.34

0.53

-0.18

Drawdowns

VPL vs. SPIP - Drawdown Comparison

The maximum VPL drawdown since its inception was -55.49%, which is greater than SPIP's maximum drawdown of -15.39%. Use the drawdown chart below to compare losses from any high point for VPL and SPIP.

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Drawdown Indicators

VPLSPIPDifference

Max Drawdown

Largest peak-to-trough decline

-55.49%

-15.39%

-40.10%

Max Drawdown (1Y)

Largest decline over 1 year

-13.33%

-2.04%

-11.29%

Max Drawdown (3Y)

Largest decline over 3 years

-16.35%

-4.76%

-11.59%

Max Drawdown (5Y)

Largest decline over 5 years

-31.09%

-15.39%

-15.70%

Max Drawdown (10Y)

Largest decline over 10 years

-33.90%

-15.39%

-18.51%

Current Drawdown

Current decline from peak

-0.28%

-1.02%

+0.74%

Average Drawdown

Average peak-to-trough decline

-11.63%

-4.10%

-7.53%

Ulcer Index

Depth and duration of drawdowns from previous peaks

3.37%

0.70%

+2.67%

Volatility

VPL vs. SPIP - Volatility Comparison

Vanguard FTSE Pacific ETF (VPL) has a higher volatility of 7.32% compared to SPDR Portfolio TIPS ETF (SPIP) at 0.95%. This indicates that VPL's price experiences larger fluctuations and is considered to be riskier than SPIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VPLSPIPDifference

Volatility (1M)

Calculated over the trailing 1-month period

7.32%

0.95%

+6.37%

Volatility (6M)

Calculated over the trailing 6-month period

16.71%

2.54%

+14.17%

Volatility (1Y)

Calculated over the trailing 1-year period

19.55%

3.57%

+15.98%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

17.29%

6.57%

+10.72%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

17.29%

6.01%

+11.28%

VPL vs. SPIP - Expense Ratio Comparison

VPL has a 0.08% expense ratio, which is lower than SPIP's 0.12% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

VPL vs. SPIP - Dividend Comparison

VPL's dividend yield for the trailing twelve months is around 2.73%, less than SPIP's 4.75% yield.

PositionTTM20252024202320222021202020192018201720162015
SPIP
SPDR Portfolio TIPS ETF		4.75%4.09%3.36%3.70%7.05%4.53%1.97%2.91%2.80%3.02%1.88%0.14%
VPL
Vanguard FTSE Pacific ETF		2.73%4.01%3.15%3.12%2.75%3.19%1.81%2.84%3.06%2.57%2.65%2.43%

Frequently Asked Questions

VPL and SPIP have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

VPL has higher volatility (7.32%) compared to SPIP (0.95%). In terms of maximum drawdown, VPL dropped -55.49% vs SPIP's -15.39%.

On 10-year performance, VPL leads with 10.84% vs 2.61% for SPIP. On fees, VPL is cheaper at 0.08% per year. On volatility, SPIP has been the lower-risk option at 0.95%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 10-year period, VPL has performed better with a 10.84% return vs 2.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

VPL is cheaper with a 0.08% expense ratio, compared with 0.12% for SPIP.

SPIP has the higher dividend yield at 4.75%, compared with 2.73% for VPL.

VPL is categorized as Asia Pacific Equities, while SPIP is Inflation-Protected Bonds. VPL tracks FTSE Developed Asia Pacific Index, while SPIP tracks Bloomberg Barclays US Government Inflation-linked Bond Index. They also come from different issuers: Vanguard and State Street. Their fees differ too: 0.08% for VPL and 0.12% for SPIP.

VPL currently has the higher Sharpe Ratio (2.76 vs 1.40), 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.

Portfolio Optimizer

Find the right allocation for VPL and SPIP

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