VTIPX vs. APOIX
VTIPX (Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares) and APOIX (American Century Short Duration Inflation Protection Bond Fund Investor Class) are both Inflation-Protected Bonds funds. Over the past 10 years, VTIPX returned 3.05%/yr vs 3.13%/yr for APOIX. Their correlation of 0.87 suggests significant overlap in exposure. VTIPX charges 0.14%/yr vs 0.57%/yr for APOIX.
Performance
VTIPX vs. APOIX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with VTIPX having a 1.99% return and APOIX slightly higher at 2.02%. Both investments have delivered pretty close results over the past 10 years, with VTIPX having a 3.05% annualized return and APOIX not far ahead at 3.13%.
VTIPX
- 1D
- 0.00%
- 1M
- -0.00%
- YTD
- 1.99%
- 6M
- 1.96%
- 1Y
- 4.60%
- 3Y*
- 5.15%
- 5Y*
- 3.29%
- 10Y*
- 3.05%
APOIX
- 1D
- 0.00%
- 1M
- -0.00%
- YTD
- 2.02%
- 6M
- 1.90%
- 1Y
- 4.51%
- 3Y*
- 4.85%
- 5Y*
- 2.96%
- 10Y*
- 3.13%
VTIPX vs. APOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTIPX Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares | 1.99% | 5.96% | 4.65% | 4.51% | -2.93% | 5.21% | 4.85% | 4.74% | 0.49% | 0.72% |
APOIX American Century Short Duration Inflation Protection Bond Fund Investor Class | 2.02% | 5.95% | 4.15% | 3.82% | -3.89% | 6.30% | 5.06% | 4.77% | 1.81% | 0.73% |
Correlation
The correlation between VTIPX and APOIX is 0.86, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.92 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2013 | 0.87 |
The correlation between VTIPX and APOIX has been stable across timeframes, ranging from 0.86 to 0.92 - a consistent structural relationship.
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Return for Risk
VTIPX vs. APOIX — Risk / Return Rank
VTIPX
APOIX
VTIPX vs. APOIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares (VTIPX) and American Century Short Duration Inflation Protection Bond Fund Investor Class (APOIX). 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.
| VTIPX | APOIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.52 | ||
| Sortino ratioReturn per unit of downside risk | +0.98 | ||
| Omega ratioGain probability vs. loss probability | 1.62 | 1.51 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 6.27 | 5.81 | +0.46 |
| Martin ratioReturn relative to average drawdown | 24.45 | 19.09 | +5.36 |
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
| VTIPX | APOIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.97 | 2.45 | +0.52 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.24 | 0.90 | +0.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.38 | 1.10 | +0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.03 | 0.72 | +0.32 |
Drawdowns
VTIPX vs. APOIX - Drawdown Comparison
The maximum VTIPX drawdown since its inception was -5.36%, smaller than the maximum APOIX drawdown of -14.54%. Use the drawdown chart below to compare losses from any high point for VTIPX and APOIX.
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Drawdown Indicators
| VTIPX | APOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.36% | -14.54% | +9.18% |
Max Drawdown (1Y)Largest decline over 1 year | -0.72% | -0.76% | +0.04% |
Max Drawdown (3Y)Largest decline over 3 years | -0.95% | -1.42% | +0.47% |
Max Drawdown (5Y)Largest decline over 5 years | -5.36% | -6.58% | +1.22% |
Max Drawdown (10Y)Largest decline over 10 years | -5.36% | -6.58% | +1.22% |
Current DrawdownCurrent decline from peak | -0.04% | -0.00% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -1.11% | -1.99% | +0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.18% | 0.23% | -0.05% |
Volatility
VTIPX vs. APOIX - Volatility Comparison
Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares (VTIPX) and American Century Short Duration Inflation Protection Bond Fund Investor Class (APOIX) have volatilities of 0.53% and 0.51%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTIPX | APOIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.53% | 0.51% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 1.09% | 1.25% | -0.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.51% | 1.81% | -0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.66% | 3.31% | -0.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.22% | 2.85% | -0.63% |
VTIPX vs. APOIX - Expense Ratio Comparison
VTIPX has a 0.14% expense ratio, which is lower than APOIX's 0.57% expense ratio.
Dividends
VTIPX vs. APOIX - Dividend Comparison
VTIPX's dividend yield for the trailing twelve months is around 3.48%, less than APOIX's 3.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
APOIX American Century Short Duration Inflation Protection Bond Fund Investor Class | 3.91% | 3.99% | 2.31% | 2.78% | 5.63% | 3.92% | 0.81% | 1.69% | 3.99% | 1.52% | 0.42% |
VTIPX Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares | 3.48% | 3.70% | 2.60% | 2.76% | 6.74% | 4.59% | 1.11% | 1.88% | 2.37% | 1.50% | 0.55% |
Frequently Asked Questions
VTIPX and APOIX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
VTIPX has higher volatility (0.53%) compared to APOIX (0.51%). In terms of maximum drawdown, VTIPX dropped -5.36% vs APOIX's -14.54%.
VTIPX currently has the higher Sharpe Ratio (2.97 vs 2.45), 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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