VTAPX vs. VBIRX
VTAPX (Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares) and VBIRX (Vanguard Short-Term Bond Index Fund Admiral Shares) are both mutual funds - VTAPX is a Inflation-Protected Bonds fund managed by Vanguard, while VBIRX is a Total Bond Market fund managed by Vanguard. Over the past 10 years, VTAPX returned 3.13%/yr vs 1.92%/yr for VBIRX. A 0.58 correlation means they provide meaningful diversification when combined. VTAPX charges 0.06%/yr vs 0.07%/yr for VBIRX.
Performance
VTAPX vs. VBIRX - Performance Comparison
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Returns By Period
In the year-to-date period, VTAPX achieves a 2.05% return, which is significantly higher than VBIRX's 0.30% return. Over the past 10 years, VTAPX has outperformed VBIRX with an annualized return of 3.13%, while VBIRX has yielded a comparatively lower 1.92% annualized return.
VTAPX
- 1D
- 0.00%
- 1M
- 0.04%
- YTD
- 2.05%
- 6M
- 2.04%
- 1Y
- 4.69%
- 3Y*
- 5.23%
- 5Y*
- 3.38%
- 10Y*
- 3.13%
VBIRX
- 1D
- 0.00%
- 1M
- 0.15%
- YTD
- 0.30%
- 6M
- 0.54%
- 1Y
- 3.74%
- 3Y*
- 4.42%
- 5Y*
- 1.63%
- 10Y*
- 1.92%
VTAPX vs. VBIRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTAPX Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares | 2.05% | 6.03% | 4.73% | 4.59% | -2.84% | 5.26% | 4.97% | 4.85% | 0.53% | 0.82% |
VBIRX Vanguard Short-Term Bond Index Fund Admiral Shares | 0.30% | 6.09% | 3.75% | 4.87% | -5.63% | -1.20% | 4.69% | 4.86% | 1.37% | 1.18% |
Correlation
The correlation between VTAPX and VBIRX is 0.52, 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 | 0.52 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.71 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.59 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013 | 0.58 |
The correlation between VTAPX and VBIRX shifts across timeframes, from 0.52 (1 year) to 0.71 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
VTAPX vs. VBIRX — Risk / Return Rank
VTAPX
VBIRX
VTAPX vs. VBIRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) and Vanguard Short-Term Bond Index Fund Admiral Shares (VBIRX). 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.
| VTAPX | VBIRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.37 | ||
| Sortino ratioReturn per unit of downside risk | +2.21 | ||
| Omega ratioGain probability vs. loss probability | 1.65 | 1.33 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 6.45 | 2.43 | +4.01 |
| Martin ratioReturn relative to average drawdown | 25.59 | 7.90 | +17.69 |
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
| VTAPX | VBIRX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.03 | 1.66 | +1.37 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.27 | 0.55 | +0.72 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.41 | 0.80 | +0.60 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.07 | 0.97 | +0.10 |
Drawdowns
VTAPX vs. VBIRX - Drawdown Comparison
The maximum VTAPX drawdown since its inception was -5.33%, smaller than the maximum VBIRX drawdown of -8.69%. Use the drawdown chart below to compare losses from any high point for VTAPX and VBIRX.
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Drawdown Indicators
| VTAPX | VBIRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.33% | -8.69% | +3.36% |
Max Drawdown (1Y)Largest decline over 1 year | -0.72% | -1.54% | +0.82% |
Max Drawdown (3Y)Largest decline over 3 years | -0.92% | -1.55% | +0.63% |
Max Drawdown (5Y)Largest decline over 5 years | -5.33% | -8.64% | +3.31% |
Max Drawdown (10Y)Largest decline over 10 years | -5.33% | -8.69% | +3.36% |
Current DrawdownCurrent decline from peak | -0.04% | -0.63% | +0.59% |
Average DrawdownAverage peak-to-trough decline | -1.03% | -0.99% | -0.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | 0.47% | -0.29% |
Volatility
VTAPX vs. VBIRX - Volatility Comparison
The current volatility for Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX) is 0.57%, while Vanguard Short-Term Bond Index Fund Admiral Shares (VBIRX) has a volatility of 0.71%. This indicates that VTAPX experiences smaller price fluctuations and is considered to be less risky than VBIRX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTAPX | VBIRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 0.71% | -0.14% |
Volatility (6M)Calculated over the trailing 6-month period | 1.11% | 1.60% | -0.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.52% | 2.26% | -0.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.67% | 2.96% | -0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.23% | 2.40% | -0.17% |
VTAPX vs. VBIRX - Expense Ratio Comparison
VTAPX has a 0.06% expense ratio, which is lower than VBIRX's 0.07% 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
VTAPX vs. VBIRX - Dividend Comparison
VTAPX's dividend yield for the trailing twelve months is around 3.55%, less than VBIRX's 3.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VBIRX Vanguard Short-Term Bond Index Fund Admiral Shares | 3.99% | 3.83% | 3.37% | 2.41% | 1.46% | 1.22% | 1.77% | 2.24% | 2.03% | 1.66% | 1.50% | 1.41% |
VTAPX Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares | 3.55% | 3.78% | 2.68% | 2.84% | 6.82% | 4.67% | 1.19% | 1.94% | 2.45% | 1.52% | 0.76% | 0.00% |
Frequently Asked Questions
VTAPX and VBIRX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VBIRX has higher volatility (0.71%) compared to VTAPX (0.57%). In terms of maximum drawdown, VTAPX dropped -5.33% vs VBIRX's -8.69%.
VTAPX currently has the higher Sharpe Ratio (3.03 vs 1.66), 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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