VTP vs. JCPI

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Total Inflation-Protected Securities ETF (VTP) and JPMorgan Inflation Managed Bond ETF (JCPI).

VTP and JCPI are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. VTP is a passively managed fund by Vanguard that tracks the performance of the ICE U.S. Treasury Inflation Linked Bond Index 0-5. It was launched on Jul 7, 2025. JCPI is an actively managed fund by JPMorgan. It was launched on Mar 31, 2010.

Performance

VTP vs. JCPI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Total Inflation-Protected Securities ETF (VTP) and JPMorgan Inflation Managed Bond ETF (JCPI). The values are adjusted to include any dividend payments, if applicable.

VTP vs. JCPI - Yearly Performance Comparison

	2026 (YTD)	2025
VTP Vanguard Total Inflation-Protected Securities ETF	0.38%	2.27%
JCPI JPMorgan Inflation Managed Bond ETF	0.70%	2.23%

Returns By Period

In the year-to-date period, VTP achieves a 0.38% return, which is significantly lower than JCPI's 0.70% return.

VTP

• 1D: 0.08%
• 1M: -1.31%
• YTD: 0.38%
• 6M: 0.44%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JCPI

• 1D: 0.38%
• 1M: -0.80%
• YTD: 0.70%
• 6M: 0.77%
• 1Y: 4.18%
• 3Y*: 4.53%
• 5Y*: —
• 10Y*: —

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

VTP vs. JCPI - Expense Ratio Comparison

VTP has a 0.05% expense ratio, which is lower than JCPI's 0.25% 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%.

JCPI

JPMorgan Inflation Managed Bond ETF

VTP

Vanguard Total Inflation-Protected Securities ETF

Return for Risk

VTP vs. JCPI — Risk / Return Rank

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

JCPI

JCPI Risk / Return Rank: 62
JCPI Sharpe Ratio Rank: 65
JCPI Sortino Ratio Rank: 65
JCPI Omega Ratio Rank: 59
JCPI Calmar Ratio Rank: 61
JCPI Martin Ratio Rank: 62

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. JCPI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Inflation-Protected Securities ETF (VTP) and JPMorgan Inflation Managed Bond ETF (JCPI). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	VTP	JCPI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.13	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	0.64	+0.46

Correlation

The correlation between VTP and JCPI is 0.78, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

VTP vs. JCPI - Dividend Comparison

VTP's dividend yield for the trailing twelve months is around 1.55%, less than JCPI's 3.58% yield.

	TTM	2025	2024	2023	2022
VTP Vanguard Total Inflation-Protected Securities ETF	1.55%	1.56%	0.00%	0.00%	0.00%
JCPI JPMorgan Inflation Managed Bond ETF	3.58%	3.93%	3.98%	3.45%	3.29%

Drawdowns

VTP vs. JCPI - Drawdown Comparison

The maximum VTP drawdown since its inception was -1.92%, smaller than the maximum JCPI drawdown of -7.85%. Use the drawdown chart below to compare losses from any high point for VTP and JCPI.

Drawdown Indicators

	VTP	JCPI	Difference
Max Drawdown Largest peak-to-trough decline	-1.92%	-7.85%	+5.93%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.77%	—
Current Drawdown Current decline from peak	-1.31%	-0.80%	-0.51%
Average Drawdown Average peak-to-trough decline	-0.53%	-1.93%	+1.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.71%	—

Volatility

Volatility by Period

	VTP	JCPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.13%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.94%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.33%	3.71%	-0.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.33%	4.55%	-1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.33%	4.55%	-1.22%