VTCLX vs. BIIPX
VTCLX (Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares) and BIIPX (iShares Short-Term TIPS Bond Index Fund) are both mutual funds - VTCLX is a Large Cap Blend Equities fund managed by BlackRock, while BIIPX is a Inflation-Protected Bonds fund managed by BlackRock. Over the past 5 years, VTCLX returned 13.10%/yr vs 2.80%/yr for BIIPX. At a 0.07 correlation, their price movements are largely independent. VTCLX charges 0.09%/yr vs 0.08%/yr for BIIPX.
Performance
VTCLX vs. BIIPX - Performance Comparison
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Returns By Period
In the year-to-date period, VTCLX achieves a 10.53% return, which is significantly higher than BIIPX's 1.87% return.
VTCLX
- 1D
- -0.70%
- 1M
- 4.04%
- YTD
- 10.53%
- 6M
- 10.36%
- 1Y
- 27.36%
- 3Y*
- 21.92%
- 5Y*
- 13.10%
- 10Y*
- 15.38%
BIIPX
- 1D
- -0.10%
- 1M
- 0.22%
- YTD
- 1.87%
- 6M
- 1.93%
- 1Y
- 4.47%
- 3Y*
- 4.97%
- 5Y*
- 2.80%
- 10Y*
- —
VTCLX vs. BIIPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares | 10.53% | 17.44% | 23.76% | 26.62% | -19.07% | 26.87% | 21.08% | 31.47% | -4.98% | 21.38% |
BIIPX iShares Short-Term TIPS Bond Index Fund | 1.87% | 6.05% | 4.75% | 3.25% | -4.12% | 5.19% | 4.89% | 4.83% | 0.58% | 0.88% |
Correlation
The correlation between VTCLX and BIIPX is 0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.01 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.09 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017 | 0.07 |
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Return for Risk
VTCLX vs. BIIPX — Risk / Return Rank
VTCLX
BIIPX
VTCLX vs. BIIPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) and iShares Short-Term TIPS Bond Index Fund (BIIPX). 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.
| VTCLX | BIIPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.41 | 1.50 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 3.13 | 3.76 | -0.63 |
| Martin ratioReturn relative to average drawdown | 14.54 | 16.23 | -1.69 |
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
| VTCLX | BIIPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.29 | 2.03 | +0.26 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.76 | 0.90 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.84 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 1.12 | -0.59 |
Drawdowns
VTCLX vs. BIIPX - Drawdown Comparison
The maximum VTCLX drawdown since its inception was -55.18%, which is greater than BIIPX's maximum drawdown of -6.46%. Use the drawdown chart below to compare losses from any high point for VTCLX and BIIPX.
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Drawdown Indicators
| VTCLX | BIIPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.18% | -6.46% | -48.72% |
Max Drawdown (1Y)Largest decline over 1 year | -8.79% | -1.22% | -7.57% |
Max Drawdown (3Y)Largest decline over 3 years | -19.01% | -1.22% | -17.79% |
Max Drawdown (5Y)Largest decline over 5 years | -24.98% | -6.46% | -18.52% |
Max Drawdown (10Y)Largest decline over 10 years | -34.56% | — | — |
Current DrawdownCurrent decline from peak | -0.70% | -0.10% | -0.60% |
Average DrawdownAverage peak-to-trough decline | -7.56% | -1.08% | -6.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 0.28% | +1.61% |
Volatility
VTCLX vs. BIIPX - Volatility Comparison
Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares (VTCLX) has a higher volatility of 2.95% compared to iShares Short-Term TIPS Bond Index Fund (BIIPX) at 1.21%. This indicates that VTCLX's price experiences larger fluctuations and is considered to be riskier than BIIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTCLX | BIIPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.95% | 1.21% | +1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 9.10% | 1.67% | +7.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.03% | 2.27% | +9.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.22% | 3.11% | +14.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.27% | 2.64% | +15.63% |
VTCLX vs. BIIPX - Expense Ratio Comparison
VTCLX has a 0.09% expense ratio, which is higher than BIIPX's 0.08% 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
VTCLX vs. BIIPX - Dividend Comparison
VTCLX's dividend yield for the trailing twelve months is around 0.85%, less than BIIPX's 4.59% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BIIPX iShares Short-Term TIPS Bond Index Fund | 4.59% | 4.64% | 4.30% | 2.65% | 4.56% | 4.39% | 1.58% | 2.27% | 2.74% | 1.89% | 0.00% | 0.00% |
VTCLX Vanguard Tax-Managed Capital Appreciation Fund Admiral Shares | 0.85% | 0.93% | 1.04% | 1.24% | 1.47% | 1.04% | 1.32% | 1.52% | 1.83% | 1.57% | 1.76% | 1.69% |
Frequently Asked Questions
VTCLX and BIIPX have a correlation of 0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTCLX has higher volatility (2.95%) compared to BIIPX (1.21%). In terms of maximum drawdown, VTCLX dropped -55.18% vs BIIPX's -6.46%.
VTCLX currently has the higher Sharpe Ratio (2.29 vs 2.03), 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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