VSGDX vs. VIPIX
VSGDX (Vanguard Short-Term Federal Fund Admiral Shares) and VIPIX (Vanguard Inflation-Protected Securities Fund Institutional Shares) are both mutual funds - VSGDX is a Total Bond Market fund managed by Vanguard, while VIPIX is a Inflation-Protected Bonds fund managed by Vanguard. Over the past 10 years, VSGDX returned 1.91%/yr vs 2.67%/yr for VIPIX. A 0.64 correlation means they provide meaningful diversification when combined. VSGDX charges 0.10%/yr vs 0.07%/yr for VIPIX.
Performance
VSGDX vs. VIPIX - Performance Comparison
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Returns By Period
In the year-to-date period, VSGDX achieves a 0.64% return, which is significantly lower than VIPIX's 1.59% return. Over the past 10 years, VSGDX has underperformed VIPIX with an annualized return of 1.91%, while VIPIX has yielded a comparatively higher 2.67% annualized return.
VSGDX
- 1D
- 0.00%
- 1M
- 0.13%
- YTD
- 0.64%
- 6M
- 0.87%
- 1Y
- 4.11%
- 3Y*
- 4.53%
- 5Y*
- 1.71%
- 10Y*
- 1.91%
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%
VSGDX vs. VIPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VSGDX Vanguard Short-Term Federal Fund Admiral Shares | 0.64% | 5.94% | 4.26% | 3.92% | -5.22% | -0.58% | 4.46% | 4.21% | 1.37% | 0.80% |
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% |
Correlation
The correlation between VSGDX and VIPIX is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.68 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.63 |
Correlation (All Time) Calculated using the full available price history since Dec 16, 2003 | 0.64 |
The correlation between VSGDX and VIPIX has been stable across timeframes, ranging from 0.63 to 0.71 - a consistent structural relationship.
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Return for Risk
VSGDX vs. VIPIX — Risk / Return Rank
VSGDX
VIPIX
VSGDX vs. VIPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Federal Fund Admiral Shares (VSGDX) and Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX). 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.
| VSGDX | VIPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.97 | ||
| Omega ratioGain probability vs. loss probability | 1.40 | 1.27 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.99 | 2.60 | +0.39 |
| Martin ratioReturn relative to average drawdown | 10.72 | 7.88 | +2.84 |
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
| VSGDX | VIPIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.87 | 1.49 | +0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 0.20 | +0.44 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.88 | 0.50 | +0.38 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.24 | 0.62 | +0.62 |
Drawdowns
VSGDX vs. VIPIX - Drawdown Comparison
The maximum VSGDX drawdown since its inception was -7.29%, smaller than the maximum VIPIX drawdown of -15.04%. Use the drawdown chart below to compare losses from any high point for VSGDX and VIPIX.
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Drawdown Indicators
| VSGDX | VIPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -7.29% | -15.04% | +7.75% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | -2.00% | +0.65% |
Max Drawdown (3Y)Largest decline over 3 years | -1.35% | -4.46% | +3.11% |
Max Drawdown (5Y)Largest decline over 5 years | -7.29% | -14.33% | +7.04% |
Max Drawdown (10Y)Largest decline over 10 years | -7.29% | -14.33% | +7.04% |
Current DrawdownCurrent decline from peak | -0.38% | -0.12% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -0.73% | -3.35% | +2.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 0.66% | -0.29% |
Volatility
VSGDX vs. VIPIX - Volatility Comparison
The current volatility for Vanguard Short-Term Federal Fund Admiral Shares (VSGDX) is 0.71%, while Vanguard Inflation-Protected Securities Fund Institutional Shares (VIPIX) has a volatility of 1.03%. This indicates that VSGDX experiences smaller price fluctuations and is considered to be less risky than VIPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VSGDX | VIPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.71% | 1.03% | -0.32% |
Volatility (6M)Calculated over the trailing 6-month period | 1.56% | 2.42% | -0.86% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.15% | 3.49% | -1.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.68% | 6.03% | -3.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.17% | 5.37% | -3.20% |
VSGDX vs. VIPIX - Expense Ratio Comparison
VSGDX has a 0.10% expense ratio, which is higher than VIPIX's 0.07% 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
VSGDX vs. VIPIX - Dividend Comparison
VSGDX's dividend yield for the trailing twelve months is around 3.95%, less than VIPIX's 4.52% 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% |
VSGDX Vanguard Short-Term Federal Fund Admiral Shares | 3.95% | 3.79% | 3.56% | 3.42% | 1.78% | 1.45% | 1.78% | 2.42% | 2.02% | 1.46% | 1.43% | 1.30% |
Frequently Asked Questions
VSGDX and VIPIX have a correlation of 0.67, 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 VSGDX (0.71%). In terms of maximum drawdown, VSGDX dropped -7.29% vs VIPIX's -15.04%.
VSGDX currently has the higher Sharpe Ratio (1.87 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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