VTIPX vs. SPYX

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares (VTIPX) and State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX).

VTIPX is managed by Vanguard. It was launched on Oct 16, 2012. SPYX is a passively managed fund by State Street that tracks the performance of the S&P 500 Fossil Fuel Reserves Free Index. It was launched on Nov 30, 2015.

Performance

VTIPX vs. SPYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares (VTIPX) and State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX). The values are adjusted to include any dividend payments, if applicable.

VTIPX vs. SPYX - 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	0.93%	5.96%	4.65%	4.51%	-2.93%	5.21%	4.85%	4.74%	0.49%	0.72%
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	-5.39%	17.87%	25.46%	26.38%	-19.59%	28.06%	19.87%	31.62%	-4.26%	23.25%

Returns By Period

In the year-to-date period, VTIPX achieves a 0.93% return, which is significantly higher than SPYX's -5.39% return. Over the past 10 years, VTIPX has underperformed SPYX with an annualized return of 2.97%, while SPYX has yielded a comparatively higher 14.02% annualized return.

VTIPX

• 1D: 0.28%
• 1M: 0.04%
• YTD: 0.93%
• 6M: 1.25%
• 1Y: 3.76%
• 3Y*: 4.58%
• 5Y*: 3.40%
• 10Y*: 2.97%

SPYX

• 1D: 2.99%
• 1M: -5.43%
• YTD: -5.39%
• 6M: -2.85%
• 1Y: 17.05%
• 3Y*: 18.16%
• 5Y*: 11.21%
• 10Y*: 14.02%

*Multi-year figures are annualized to reflect compound growth (CAGR)

VTIPX vs. SPYX - Expense Ratio Comparison

VTIPX has a 0.14% expense ratio, which is lower than SPYX's 0.20% 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%.

SPYX

State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF

VTIPX

Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares

Return for Risk

VTIPX vs. SPYX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VTIPX

VTIPX Risk / Return Rank: 95
VTIPX Sharpe Ratio Rank: 95
VTIPX Sortino Ratio Rank: 96
VTIPX Omega Ratio Rank: 94
VTIPX Calmar Ratio Rank: 98
VTIPX Martin Ratio Rank: 96

SPYX

SPYX Risk / Return Rank: 61
SPYX Sharpe Ratio Rank: 54
SPYX Sortino Ratio Rank: 58
SPYX Omega Ratio Rank: 61
SPYX Calmar Ratio Rank: 62
SPYX Martin Ratio Rank: 69

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.

VTIPX vs. SPYX - 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 State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX). 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	SPYX	Difference
Sharpe ratio Return per unit of total volatility	2.19	0.92	+1.27
Sortino ratio Return per unit of downside risk	3.29	1.43	+1.87
Omega ratio Gain probability vs. loss probability	1.47	1.22	+0.25
Calmar ratio Return relative to maximum drawdown	4.39	1.49	+2.90
Martin ratio Return relative to average drawdown	14.13	6.70	+7.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VTIPX vs. SPYX - Sharpe Ratio Comparison

The current VTIPX Sharpe Ratio is 2.19, which is higher than the SPYX Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of VTIPX and SPYX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VTIPX	SPYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	0.92	+1.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.28	0.66	+0.62
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.34	0.78	+0.56
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	0.75	+0.26

Correlation

The correlation between VTIPX and SPYX is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

VTIPX vs. SPYX - Dividend Comparison

VTIPX's dividend yield for the trailing twelve months is around 3.50%, more than SPYX's 0.98% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VTIPX Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares	3.50%	3.70%	2.60%	2.76%	6.74%	4.59%	1.11%	1.88%	2.37%	1.50%	0.55%	0.00%
SPYX State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF	0.98%	0.91%	1.05%	1.21%	1.41%	1.04%	1.33%	1.56%	1.92%	1.68%	1.91%	0.16%

Drawdowns

VTIPX vs. SPYX - Drawdown Comparison

The maximum VTIPX drawdown since its inception was -5.36%, smaller than the maximum SPYX drawdown of -32.84%. Use the drawdown chart below to compare losses from any high point for VTIPX and SPYX.

Drawdown Indicators

	VTIPX	SPYX	Difference
Max Drawdown Largest peak-to-trough decline	-5.36%	-32.84%	+27.48%
Max Drawdown (1Y) Largest decline over 1 year	-0.95%	-11.82%	+10.87%
Max Drawdown (5Y) Largest decline over 5 years	-5.36%	-26.14%	+20.78%
Max Drawdown (10Y) Largest decline over 10 years	-5.36%	-32.84%	+27.48%
Current Drawdown Current decline from peak	-0.32%	-7.14%	+6.82%
Average Drawdown Average peak-to-trough decline	-1.13%	-4.59%	+3.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.30%	2.63%	-2.33%

Volatility

VTIPX vs. SPYX - Volatility Comparison

The current volatility for Vanguard Short-Term Inflation-Protected Securities Index Fund Investor Shares (VTIPX) is 0.62%, while State Street SPDR S&P 500 Fossil Fuel Reserves Free ETF (SPYX) has a volatility of 5.52%. This indicates that VTIPX experiences smaller price fluctuations and is considered to be less risky than SPYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTIPX	SPYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.62%	5.52%	-4.90%
Volatility (6M) Calculated over the trailing 6-month period	0.96%	9.71%	-8.75%
Volatility (1Y) Calculated over the trailing 1-year period	1.81%	18.63%	-16.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.66%	17.05%	-14.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.22%	17.99%	-15.77%