VTIPX vs. FIPDX
VTIPX (Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares) and FIPDX (Fidelity Inflation-Protected Bond Index Fund) are both Inflation-Protected Bonds funds - VTIPX tracks the Bloomberg U.S. 0-5 Year Treasury Inflation-Protected Securities Index while FIPDX tracks the Bloomberg US Treasury Inflation-Protected Securities Index. Both are passively managed. Over the past 10 years, VTIPX returned 3.01%/yr vs 2.45%/yr for FIPDX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. VTIPX charges 0.14%/yr vs 0.05%/yr for FIPDX.
Performance
VTIPX vs. FIPDX - Performance Comparison
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Returns By Period
In the year-to-date period, VTIPX achieves a 1.77% return, which is significantly higher than FIPDX's 0.55% return. Over the past 10 years, VTIPX has outperformed FIPDX with an annualized return of 3.01%, while FIPDX has yielded a comparatively lower 2.45% annualized return.
VTIPX
- 1D
- 0.00%
- 1M
- 0.24%
- 6M
- 1.40%
- YTD
- 1.77%
- 1Y
- 2.98%
- 3Y*
- 5.02%
- 5Y*
- 2.97%
- 10Y*
- 3.01%
- ALL TIME*
- 2.13%
FIPDX
- 1D
- 0.00%
- 1M
- -0.44%
- 6M
- 0.33%
- YTD
- 0.55%
- 1Y
- 2.01%
- 3Y*
- 3.88%
- 5Y*
- 0.31%
- 10Y*
- 2.45%
- ALL TIME*
- 2.16%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
VTIPX vs. FIPDX - 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 | 1.77% | 5.96% | 4.65% | 4.51% | -2.93% | 5.21% | 4.85% | 4.74% | 0.49% | 0.72% |
FIPDX Fidelity Inflation-Protected Bond Index Fund | 0.55% | 6.90% | 2.00% | 3.77% | -12.09% | 5.94% | 10.90% | 8.32% | -1.37% | 2.98% |
Correlation
The correlation between VTIPX and FIPDX is 0.75, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.75 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.82 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2013 | 0.78 |
The correlation between VTIPX and FIPDX has been stable across timeframes, ranging from 0.75 to 0.82 - a consistent structural relationship.
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Return for Risk
VTIPX vs. FIPDX — Risk / Return Rank
VTIPX
FIPDX
VTIPX vs. FIPDX - 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 Fidelity Inflation-Protected Bond Index Fund (FIPDX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| VTIPX | FIPDX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.40 | ||
| Sortino ratioReturn per unit of downside risk | +2.34 | ||
| Omega ratioGain probability vs. loss probability | 1.45 | 1.14 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 4.69 | 1.33 | +3.36 |
| Martin ratioReturn relative to average drawdown | 14.10 | 3.52 | +10.58 |
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Drawdowns
VTIPX vs. FIPDX - Drawdown Comparison
The maximum VTIPX drawdown since its inception was -5.36%, smaller than the maximum FIPDX drawdown of -14.32%. Use the drawdown chart below to compare losses from any high point for VTIPX and FIPDX.
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Drawdown Indicators
| VTIPX | FIPDX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.36% | -14.32% | +8.96% |
Max Drawdown (1Y)Largest decline over 1 year | -0.72% | -1.94% | +1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -0.95% | -3.95% | +3.00% |
Max Drawdown (5Y)Largest decline over 5 years | -5.36% | -14.32% | +8.96% |
Max Drawdown (10Y)Largest decline over 10 years | -5.36% | -14.32% | +8.96% |
Current DrawdownCurrent decline from peak | -0.26% | -1.19% | +0.93% |
Average DrawdownAverage peak-to-trough decline | -1.10% | -4.43% | +3.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.24% | 0.73% | -0.49% |
Volatility
VTIPX vs. FIPDX - Volatility Comparison
The current volatility for Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares (VTIPX) is 0.41%, while Fidelity Inflation-Protected Bond Index Fund (FIPDX) has a volatility of 0.74%. This indicates that VTIPX experiences smaller price fluctuations and is considered to be less risky than FIPDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTIPX | FIPDX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.41% | 0.74% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 1.24% | 2.49% | -1.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.55% | 3.31% | -1.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.65% | 5.96% | -3.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.23% | 5.36% | -3.13% |
VTIPX vs. FIPDX - Expense Ratio Comparison
VTIPX has a 0.14% expense ratio, which is higher than FIPDX's 0.05% 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
VTIPX vs. FIPDX - Dividend Comparison
VTIPX's dividend yield for the trailing twelve months is around 4.04%, less than FIPDX's 4.36% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIPDX Fidelity Inflation-Protected Bond Index Fund | 4.36% | 4.18% | 3.75% | 3.56% | 8.87% | 4.76% | 1.24% | 1.97% | 2.26% | 1.29% | 1.34% | 0.38% |
VTIPX Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares | 4.04% | 3.70% | 2.60% | 2.76% | 6.74% | 4.59% | 1.11% | 1.88% | 2.37% | 1.50% | 0.55% | 0.00% |
Frequently Asked Questions
VTIPX and FIPDX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FIPDX has higher volatility (0.74%) compared to VTIPX (0.41%). In terms of maximum drawdown, VTIPX dropped -5.36% vs FIPDX's -14.32%.
VTIPX currently has the higher Sharpe Ratio (2.18 vs 0.78), 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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