VTIP vs. SPIP
Compare and contrast key facts about Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) and SPDR Portfolio TIPS ETF (SPIP).
VTIP and SPIP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VTIP is a passively managed fund by Vanguard that tracks the performance of the Barclays Capital U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (Series-L). It was launched on Oct 12, 2012. SPIP is a passively managed fund by State Street that tracks the performance of the Bloomberg Barclays US Government Inflation-linked Bond Index. It was launched on May 25, 2007. Both VTIP and SPIP are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: VTIP or SPIP.
Performance
VTIP vs. SPIP - Performance Comparison
Returns By Period
In the year-to-date period, VTIP achieves a 4.55% return, which is significantly higher than SPIP's 3.12% return. Over the past 10 years, VTIP has outperformed SPIP with an annualized return of 2.40%, while SPIP has yielded a comparatively lower 2.08% annualized return.
VTIP
4.55%
-0.02%
3.12%
6.57%
3.52%
2.40%
SPIP
3.12%
-0.89%
2.84%
5.45%
1.82%
2.08%
Key characteristics
| VTIP | SPIP | |
|---|---|---|
| Sharpe Ratio | 3.07 | 0.98 |
| Sortino Ratio | 5.45 | 1.48 |
| Omega Ratio | 1.71 | 1.17 |
| Calmar Ratio | 4.84 | 0.43 |
| Martin Ratio | 23.62 | 4.44 |
| Ulcer Index | 0.28% | 1.26% |
| Daily Std Dev | 2.13% | 5.74% |
| Max Drawdown | -6.27% | -15.38% |
| Current Drawdown | -0.47% | -7.98% |
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VTIP vs. SPIP - Expense Ratio Comparison
VTIP has a 0.04% 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%.
Correlation
The correlation between VTIP and SPIP is 0.73, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Risk-Adjusted Performance
VTIP vs. SPIP - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) 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.
Dividends
VTIP vs. SPIP - Dividend Comparison
VTIP's dividend yield for the trailing twelve months is around 3.38%, more than SPIP's 3.22% yield.
| TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 3.38% | 3.36% | 6.84% | 4.68% | 1.20% | 1.95% | 2.45% | 1.52% | 0.76% | 0.00% | 0.82% | 0.05% |
SPIP SPDR Portfolio TIPS ETF | 3.22% | 3.70% | 7.06% | 4.53% | 1.97% | 2.60% | 2.80% | 3.02% | 1.88% | 0.14% | 1.66% | 1.11% |
Drawdowns
VTIP vs. SPIP - Drawdown Comparison
The maximum VTIP drawdown since its inception was -6.27%, smaller than the maximum SPIP drawdown of -15.38%. Use the drawdown chart below to compare losses from any high point for VTIP and SPIP. For additional features, visit the drawdowns tool.
Volatility
VTIP vs. SPIP - Volatility Comparison
The current volatility for Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) is 0.45%, while SPDR Portfolio TIPS ETF (SPIP) has a volatility of 1.18%. This indicates that VTIP experiences smaller price fluctuations and is considered to be less risky than SPIP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.