VTIP vs. VRIG
VTIP (Vanguard Short-Term Inflation-Protected Securities ETF) and VRIG (Invesco Variable Rate Investment Grade ETF) are both exchange-traded funds - VTIP is a Inflation-Protected Bonds fund tracking the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Year Index, while VRIG is a Ultrashort Bond fund actively managed by Invesco. VTIP is passively managed, while VRIG is actively managed. Over the past 5 years, VTIP returned 3.37%/yr vs 4.44%/yr for VRIG. At a 0.04 correlation, their price movements are largely independent. VTIP charges 0.03%/yr vs 0.30%/yr for VRIG.
Performance
VTIP vs. VRIG - Performance Comparison
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Returns By Period
In the year-to-date period, VTIP achieves a 1.76% return, which is significantly lower than VRIG's 1.87% return.
VTIP
- 1D
- 0.00%
- 1M
- -0.18%
- YTD
- 1.76%
- 6M
- 1.89%
- 1Y
- 4.64%
- 3Y*
- 5.17%
- 5Y*
- 3.37%
- 10Y*
- 3.08%
VRIG
- 1D
- 0.04%
- 1M
- 0.39%
- YTD
- 1.87%
- 6M
- 2.24%
- 1Y
- 4.97%
- 3Y*
- 5.96%
- 5Y*
- 4.44%
- 10Y*
- —
VTIP vs. VRIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 1.76% | 6.07% | 4.74% | 4.62% | -2.94% | 5.36% | 4.95% | 4.86% | 0.56% | 0.82% |
VRIG Invesco Variable Rate Investment Grade ETF | 1.87% | 5.05% | 6.81% | 7.37% | 0.99% | 1.06% | 1.76% | 4.57% | 0.51% | 3.20% |
Correlation
The correlation between VTIP and VRIG is 0.05, 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 | 0.05 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Sep 22, 2016 | 0.04 |
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Return for Risk
VTIP vs. VRIG — Risk / Return Rank
VTIP
VRIG
VTIP vs. VRIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) and Invesco Variable Rate Investment Grade ETF (VRIG). 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.
| VTIP | VRIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -6.97 | ||
| Sortino ratioReturn per unit of downside risk | -19.05 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 5.29 | -3.62 |
| Calmar ratioReturn relative to maximum drawdown | 6.66 | 62.49 | -55.82 |
| Martin ratioReturn relative to average drawdown | 26.11 | 318.26 | -292.15 |
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
| VTIP | VRIG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.12 | 10.08 | -6.97 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.22 | 3.46 | -2.24 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.13 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.89 | 0.91 | -0.03 |
Drawdowns
VTIP vs. VRIG - Drawdown Comparison
The maximum VTIP drawdown since its inception was -6.27%, smaller than the maximum VRIG drawdown of -13.04%. Use the drawdown chart below to compare losses from any high point for VTIP and VRIG.
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Drawdown Indicators
| VTIP | VRIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.27% | -13.04% | +6.77% |
Max Drawdown (1Y)Largest decline over 1 year | -0.70% | -0.08% | -0.62% |
Max Drawdown (3Y)Largest decline over 3 years | -0.98% | -0.78% | -0.20% |
Max Drawdown (5Y)Largest decline over 5 years | -5.50% | -2.28% | -3.22% |
Max Drawdown (10Y)Largest decline over 10 years | -6.27% | — | — |
Current DrawdownCurrent decline from peak | -0.30% | 0.00% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -1.04% | -0.27% | -0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | 0.02% | +0.16% |
Volatility
VTIP vs. VRIG - Volatility Comparison
Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) has a higher volatility of 0.45% compared to Invesco Variable Rate Investment Grade ETF (VRIG) at 0.11%. This indicates that VTIP's price experiences larger fluctuations and is considered to be riskier than VRIG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTIP | VRIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.45% | 0.11% | +0.34% |
Volatility (6M)Calculated over the trailing 6-month period | 1.05% | 0.36% | +0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.50% | 0.50% | +1.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.78% | 1.29% | +1.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.74% | 3.80% | -1.06% |
VTIP vs. VRIG - Expense Ratio Comparison
VTIP has a 0.03% expense ratio, which is lower than VRIG's 0.30% expense ratio.
Dividends
VTIP vs. VRIG - Dividend Comparison
VTIP's dividend yield for the trailing twelve months is around 3.59%, less than VRIG's 4.79% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
VRIG Invesco Variable Rate Investment Grade ETF | 4.79% | 4.99% | 6.09% | 5.97% | 2.39% | 0.78% | 1.57% | 3.12% | 2.89% | 2.31% | 0.60% |
VTIP Vanguard Short-Term Inflation-Protected Securities ETF | 3.59% | 3.81% | 2.70% | 2.86% | 6.84% | 4.68% | 1.20% | 1.95% | 2.45% | 1.52% | 0.76% |
Frequently Asked Questions
VTIP and VRIG have a correlation of 0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTIP has higher volatility (0.45%) compared to VRIG (0.11%). In terms of maximum drawdown, VTIP dropped -6.27% vs VRIG's -13.04%.
On 5-year performance, VRIG leads with 4.44% vs 3.37% for VTIP. On fees, VTIP is cheaper at 0.03% per year. On volatility, VRIG has been the lower-risk option at 0.11%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, VRIG has performed better with a 4.44% return vs 3.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
VTIP is cheaper with a 0.03% expense ratio, compared with 0.30% for VRIG.
VRIG has the higher dividend yield at 4.79%, compared with 3.59% for VTIP.
VTIP is categorized as Inflation-Protected Bonds, while VRIG is Ultrashort Bond. They also come from different issuers: Vanguard and Invesco. Their fees differ too: 0.03% for VTIP and 0.30% for VRIG.
VRIG currently has the higher Sharpe Ratio (10.08 vs 3.12), 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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