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VTIP vs. VAIPX
Performance
Return for Risk
Dividends
Drawdowns
Volatility

VTIP vs. VAIPX

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) and Vanguard Inflation-Protected Securities Fund Admiral Shares (VAIPX).

VTIP is a passively managed fund by Vanguard that tracks the performance of the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index. It was launched on Oct 12, 2012. VAIPX is managed by Vanguard. It was launched on Jun 10, 2005.

Performance

VTIP vs. VAIPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) and Vanguard Inflation-Protected Securities Fund Admiral Shares (VAIPX). The values are adjusted to include any dividend payments, if applicable.

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VTIP vs. VAIPX - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VTIP
Vanguard Short-Term Inflation-Protected Securities ETF		0.87%6.07%4.74%4.62%-2.94%5.36%4.95%4.86%0.56%0.82%
VAIPX
Vanguard Inflation-Protected Securities Fund Admiral Shares		0.35%6.87%1.85%3.83%-11.92%5.69%10.96%8.16%-1.39%2.91%

Returns By Period

In the year-to-date period, VTIP achieves a 0.87% return, which is significantly higher than VAIPX's 0.35% return. Over the past 10 years, VTIP has outperformed VAIPX with an annualized return of 3.05%, while VAIPX has yielded a comparatively lower 2.55% annualized return.

VTIP

1D
-0.11%
1M
0.03%
YTD
0.87%
6M
1.15%
1Y
3.80%
3Y*
4.62%
5Y*
3.46%
10Y*
3.05%

VAIPX

1D
0.04%
1M
-1.07%
YTD
0.35%
6M
0.23%
1Y
2.90%
3Y*
3.09%
5Y*
1.33%
10Y*
2.55%
*Multi-year figures are annualized to reflect compound growth (CAGR)

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Vanguard Short-Term Inflation-Protected Securities ETF

Vanguard Inflation-Protected Securities Fund Admiral Shares

Often compared with VTIP:
VTIP vs. SCHPVTIP vs. TIPVTIP vs. VGSHVTIP vs. STIPVTIP vs. VGITVTIP vs. VTIPXVTIP vs. VTAPX
Often compared with VAIPX:
VAIPX vs. BNDVAIPX vs. VFIAXVAIPX vs. VWEAXVAIPX vs. VSCSXVAIPX vs. VSIGXVAIPX vs. VFTAXVAIPX vs. VITAX

VTIP vs. VAIPX - Expense Ratio Comparison

VTIP has a 0.03% expense ratio, which is lower than VAIPX's 0.10% 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%.

VAIPX
Vanguard Inflation-Protected Securities Fund Admiral Shares
VTIP
Vanguard Short-Term Inflation-Protected Securities ETF

Return for Risk

VTIP vs. VAIPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VTIP
VTIP Risk / Return Rank: 9292
Overall Rank
VTIP Sharpe Ratio Rank: 9090
Sharpe Ratio Rank
VTIP Sortino Ratio Rank: 9494
Sortino Ratio Rank
VTIP Omega Ratio Rank: 9393
Omega Ratio Rank
VTIP Calmar Ratio Rank: 9494
Calmar Ratio Rank
VTIP Martin Ratio Rank: 9191
Martin Ratio Rank
VAIPX
VAIPX Risk / Return Rank: 3131
Overall Rank
VAIPX Sharpe Ratio Rank: 2929
Sharpe Ratio Rank
VAIPX Sortino Ratio Rank: 2525
Sortino Ratio Rank
VAIPX Omega Ratio Rank: 2121
Omega Ratio Rank
VAIPX Calmar Ratio Rank: 4646
Calmar Ratio Rank
VAIPX Martin Ratio Rank: 3333
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.

VTIP vs. VAIPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) and Vanguard Inflation-Protected Securities Fund Admiral Shares (VAIPX). 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.

VTIPVAIPXDifference

Sharpe ratio

Return per unit of total volatility

2.01

0.74

+1.27

Sortino ratio

Return per unit of downside risk

3.03

1.03

+2.00

Omega ratio

Gain probability vs. loss probability

1.42

1.13

+0.29

Calmar ratio

Return relative to maximum drawdown

3.90

1.20

+2.70

Martin ratio

Return relative to average drawdown

12.53

3.63

+8.90

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

VTIP vs. VAIPX - Sharpe Ratio Comparison

The current VTIP Sharpe Ratio is 2.01, which is higher than the VAIPX Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of VTIP and VAIPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

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Sharpe Ratios by Period

VTIPVAIPXDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.01

0.74

+1.27

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.25

0.22

+1.03

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

1.12

0.48

+0.64

Sharpe Ratio (All Time)

Calculated using the full available price history

0.87

0.51

+0.36

Correlation

The correlation between VTIP and VAIPX is 0.75, 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.

Dividends

VTIP vs. VAIPX - Dividend Comparison

VTIP's dividend yield for the trailing twelve months is around 3.63%, less than VAIPX's 4.46% yield.

TTM20252024202320222021202020192018201720162015
VTIP
Vanguard Short-Term Inflation-Protected Securities ETF		3.63%3.81%2.70%2.86%6.84%4.68%1.20%1.95%2.45%1.52%0.76%0.00%
VAIPX
Vanguard Inflation-Protected Securities Fund Admiral Shares		4.46%4.74%4.17%4.31%8.45%5.13%1.38%2.29%3.12%2.41%3.49%0.88%

Drawdowns

VTIP vs. VAIPX - Drawdown Comparison

The maximum VTIP drawdown since its inception was -6.27%, smaller than the maximum VAIPX drawdown of -15.04%. Use the drawdown chart below to compare losses from any high point for VTIP and VAIPX.

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Drawdown Indicators

VTIPVAIPXDifference

Max Drawdown

Largest peak-to-trough decline

-6.27%

-15.04%

+8.77%

Max Drawdown (1Y)

Largest decline over 1 year

-0.98%

-2.85%

+1.87%

Max Drawdown (5Y)

Largest decline over 5 years

-5.50%

-14.40%

+8.90%

Max Drawdown (10Y)

Largest decline over 10 years

-6.27%

-14.40%

+8.13%

Current Drawdown

Current decline from peak

-0.37%

-1.37%

+1.00%

Average Drawdown

Average peak-to-trough decline

-1.05%

-3.84%

+2.79%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.30%

0.94%

-0.64%

Volatility

VTIP vs. VAIPX - Volatility Comparison

The current volatility for Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) is 0.62%, while Vanguard Inflation-Protected Securities Fund Admiral Shares (VAIPX) has a volatility of 1.40%. This indicates that VTIP experiences smaller price fluctuations and is considered to be less risky than VAIPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

VTIPVAIPXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.62%

1.40%

-0.78%

Volatility (6M)

Calculated over the trailing 6-month period

0.98%

2.28%

-1.30%

Volatility (1Y)

Calculated over the trailing 1-year period

1.90%

4.10%

-2.20%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.78%

6.00%

-3.22%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.74%

5.34%

-2.60%