VTP vs. JCPI

Last updated Jun 25, 2026

VTP (Vanguard Total Inflation-Protected Securities ETF) and JCPI (JPMorgan Inflation Managed Bond ETF) are both Inflation-Protected Bonds funds. VTP is passively managed, while JCPI is actively managed. A 0.79 correlation means they provide meaningful diversification when combined. VTP charges 0.05%/yr vs 0.25%/yr for JCPI.

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.

Returns By Period

The year-to-date returns for both stocks are quite close, with VTP having a 1.10% return and JCPI slightly lower at 1.09%.

VTP

• 1D: 0.34%
• 1M: 0.22%
• YTD: 1.10%
• 6M: 1.02%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

JCPI

• 1D: 0.38%
• 1M: 0.01%
• YTD: 1.09%
• 6M: 1.05%
• 1Y: 3.89%
• 3Y*: 5.08%
• 5Y*: —
• 10Y*: —

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

VTP vs. JCPI - Yearly Performance Comparison

	2026 (YTD)	2025
VTP Vanguard Total Inflation-Protected Securities ETF	1.10%	2.46%
JCPI JPMorgan Inflation Managed Bond ETF	1.09%	2.65%

Correlation

The correlation between VTP and JCPI is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 9, 2025	0.79

Return for Risk

VTP vs. JCPI — Risk / Return Rank

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

VTP

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

JCPI

JCPI Risk / Return Rank: 45
JCPI Sharpe Ratio Rank: 40
JCPI Sortino Ratio Rank: 41
JCPI Omega Ratio Rank: 39
JCPI Calmar Ratio Rank: 56
JCPI Martin Ratio Rank: 50

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.

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	JCPI	Difference
Sharpe ratio: Return per unit of total volatility	—	1.29	—
Sortino ratio: Return per unit of downside risk	—	1.93	—
Omega ratio: Gain probability vs. loss probability	—	1.23	—
Calmar ratio: Return relative to maximum drawdown	—	2.44	—
Martin ratio: Return relative to average drawdown	—	7.66	—

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	—	-1.60%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-2.81%	—
Current Drawdown Current decline from peak	-0.75%	-0.98%	+0.23%
Average Drawdown Average peak-to-trough decline	-0.52%	-1.85%	+1.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.51%	—

Volatility

Volatility by Period

	VTP	JCPI	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.22%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.24%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.35%	3.04%	+0.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.35%	4.50%	-1.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.35%	4.50%	-1.15%

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%.

Dividends

VTP vs. JCPI - Dividend Comparison

VTP's dividend yield for the trailing twelve months is around 1.62%, less than JCPI's 3.96% yield.

Position	TTM	2025	2024	2023	2022
JCPI JPMorgan Inflation Managed Bond ETF	3.96%	3.93%	3.98%	3.45%	3.29%
VTP Vanguard Total Inflation-Protected Securities ETF	1.62%	1.56%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VTP and JCPI in my portfolio?

VTP and JCPI have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, VTP or JCPI?

On fees, VTP is cheaper at 0.05% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VTP or JCPI?

VTP is cheaper with a 0.05% expense ratio, compared with 0.25% for JCPI.

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

JCPI has the higher dividend yield at 3.96%, compared with 1.62% for VTP.

What is the main difference between VTP and JCPI?

They also come from different issuers: Vanguard and JPMorgan. Their fees differ too: 0.05% for VTP and 0.25% for JCPI.