VTP vs. IBIE

Last updated Jul 15, 2026

VTP (Vanguard Total Inflation-Protected Securities ETF) and IBIE (iShares iBonds Oct 2028 Term TIPS ETF) are both Inflation-Protected Bonds funds - VTP tracks the ICE U.S. Treasury Inflation Linked Bond Index while IBIE tracks the ICE 2028 Maturity US Inflation-Linked Treasury Index. Both are passively managed. Over the past year, VTP returned 3.27% vs 3.40% for IBIE. A 0.63 correlation means they provide meaningful diversification when combined. VTP charges 0.05%/yr vs 0.10%/yr for IBIE.

Performance

VTP vs. IBIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Inflation-Protected Securities ETF (VTP) and iShares iBonds Oct 2028 Term TIPS ETF (IBIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTP achieves a 0.90% return, which is significantly lower than IBIE's 1.72% return.

VTP

• 1D: 0.07%
• 1M: -0.50%
• 6M: 0.58%
• YTD: 0.90%
• 1Y: 3.27%
• 3Y*: —
• 5Y*: —
• 10Y*: —

IBIE

• 1D: -0.06%
• 1M: -0.18%
• 6M: 1.51%
• YTD: 1.72%
• 1Y: 3.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VTP vs. IBIE - Yearly Performance Comparison

	2026 (YTD)	2025
VTP Vanguard Total Inflation-Protected Securities ETF	0.90%	2.46%
IBIE iShares iBonds Oct 2028 Term TIPS ETF	1.72%	1.92%

Correlation

The correlation between VTP and IBIE is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.63

The correlation between VTP and IBIE has been stable across timeframes, ranging from 0.63 to 0.64 - a consistent structural relationship.

Return for Risk

VTP vs. IBIE — Risk / Return Rank

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

VTP

VTP Risk / Return Rank: 35
VTP Sharpe Ratio Rank: 33
VTP Sortino Ratio Rank: 32
VTP Omega Ratio Rank: 30
VTP Calmar Ratio Rank: 42
VTP Martin Ratio Rank: 38

IBIE

IBIE Risk / Return Rank: 89
IBIE Sharpe Ratio Rank: 85
IBIE Sortino Ratio Rank: 92
IBIE Omega Ratio Rank: 90
IBIE Calmar Ratio Rank: 92
IBIE Martin Ratio Rank: 88

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.

VTP vs. IBIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Inflation-Protected Securities ETF (VTP) and iShares iBonds Oct 2028 Term TIPS ETF (IBIE). 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.

	VTP	IBIE	Difference
Sharpe ratio: Return per unit of total volatility	0.98	2.15	-1.17
Sortino ratio: Return per unit of downside risk	1.43	3.60	-2.17
Omega ratio: Gain probability vs. loss probability	1.17	1.45	-0.28
Calmar ratio: Return relative to maximum drawdown	1.71	4.76	-3.05
Martin ratio: Return relative to average drawdown	4.86	14.89	-10.03

VTP vs. IBIE - Sharpe Ratio Comparison

The current VTP Sharpe Ratio is 0.98, which is lower than the IBIE Sharpe Ratio of 2.15. The chart below compares the historical Sharpe Ratios of VTP and IBIE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

VTP vs. IBIE - Drawdown Comparison

The maximum VTP drawdown since its inception was -1.92%, which is greater than IBIE's maximum drawdown of -1.70%. Use the drawdown chart below to compare losses from any high point for VTP and IBIE.

Drawdown Indicators

	VTP	IBIE	Difference
Max Drawdown Largest peak-to-trough decline	-1.92%	-1.70%	-0.22%
Max Drawdown (1Y) Largest decline over 1 year	-1.92%	-0.72%	-1.20%
Current Drawdown Current decline from peak	-0.94%	-0.37%	-0.57%
Average Drawdown Average peak-to-trough decline	-0.53%	-0.39%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	0.23%	+0.44%

Volatility

VTP vs. IBIE - Volatility Comparison

Vanguard Total Inflation-Protected Securities ETF (VTP) has a higher volatility of 1.19% compared to iShares iBonds Oct 2028 Term TIPS ETF (IBIE) at 0.55%. This indicates that VTP's price experiences larger fluctuations and is considered to be riskier than IBIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTP	IBIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.19%	0.55%	+0.64%
Volatility (6M) Calculated over the trailing 6-month period	2.48%	1.10%	+1.38%
Volatility (1Y) Calculated over the trailing 1-year period	3.36%	1.59%	+1.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.35%	2.82%	+0.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.35%	2.82%	+0.53%

VTP vs. IBIE - Expense Ratio Comparison

VTP has a 0.05% expense ratio, which is lower than IBIE'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%.

Dividends

VTP vs. IBIE - Dividend Comparison

VTP's dividend yield for the trailing twelve months is around 2.98%, less than IBIE's 4.96% yield.

Position	TTM	2025	2024	2023
IBIE iShares iBonds Oct 2028 Term TIPS ETF	4.96%	4.09%	4.23%	0.75%
VTP Vanguard Total Inflation-Protected Securities ETF	2.98%	1.56%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VTP and IBIE in my portfolio?

VTP and IBIE have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTP or IBIE?

VTP has higher volatility (1.19%) compared to IBIE (0.55%). In terms of maximum drawdown, VTP dropped -1.92% vs IBIE's -1.70%.

Which ETF is better, VTP or IBIE?

On 1-year performance, IBIE leads with 3.40% vs 3.27% for VTP. On fees, VTP is cheaper at 0.05% per year. On volatility, IBIE has been the lower-risk option at 0.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, VTP or IBIE?

Over the 1-year period, IBIE has performed better with a 3.40% return vs 3.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, VTP or IBIE?

VTP is cheaper with a 0.05% expense ratio, compared with 0.10% for IBIE.

Which ETF pays a higher dividend yield, VTP or IBIE?

IBIE has the higher dividend yield at 4.96%, compared with 2.98% for VTP.

What is the main difference between VTP and IBIE?

VTP tracks ICE U.S. Treasury Inflation Linked Bond Index, while IBIE tracks ICE 2028 Maturity US Inflation-Linked Treasury Index. They also come from different issuers: Vanguard and iShares. Their fees differ too: 0.05% for VTP and 0.10% for IBIE.

Which has better risk-adjusted returns?

IBIE currently has the higher Sharpe Ratio (2.15 vs 0.98), 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.