VTP vs. VAIPX

Last updated Jun 4, 2026

VTP (Vanguard Total Inflation-Protected Securities ETF) and VAIPX (Vanguard Inflation-Protected Securities Fund Admiral Shares) are both Inflation-Protected Bonds funds from Vanguard. Their correlation of 0.94 suggests significant overlap in exposure. VTP charges 0.05%/yr vs 0.10%/yr for VAIPX.

Performance

VTP vs. VAIPX - Performance Comparison

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

Returns By Period

In the year-to-date period, VTP achieves a 1.55% return, which is significantly lower than VAIPX's 1.65% return.

VTP

• 1D: -0.16%
• 1M: -0.08%
• YTD: 1.55%
• 6M: 1.09%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VAIPX

• 1D: 0.00%
• 1M: 0.13%
• YTD: 1.65%
• 6M: 1.27%
• 1Y: 5.31%
• 3Y*: 4.04%
• 5Y*: 1.17%
• 10Y*: 2.64%

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

VTP vs. VAIPX - Yearly Performance Comparison

	2026 (YTD)	2025
VTP Vanguard Total Inflation-Protected Securities ETF	1.55%	2.27%
VAIPX Vanguard Inflation-Protected Securities Fund Admiral Shares	1.65%	2.31%

Correlation

The correlation between VTP and VAIPX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jul 10, 2025	0.94

Return for Risk

VTP vs. VAIPX — Risk / Return Rank

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

VAIPX

VAIPX Risk / Return Rank: 34
VAIPX Sharpe Ratio Rank: 30
VAIPX Sortino Ratio Rank: 32
VAIPX Omega Ratio Rank: 28
VAIPX Calmar Ratio Rank: 44
VAIPX Martin Ratio Rank: 36

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. VAIPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Inflation-Protected Securities ETF (VTP) and Vanguard Inflation-Protected Securities Fund Admiral Shares (VAIPX). 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	VAIPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.54	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.20	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.31	0.52	+0.80

Drawdowns

VTP vs. VAIPX - Drawdown Comparison

The maximum VTP drawdown since its inception was -1.92%, smaller than the maximum VAIPX drawdown of -15.04%. Use the drawdown chart below to compare losses from any high point for VTP and VAIPX.

Drawdown Indicators

	VTP	VAIPX	Difference
Max Drawdown Largest peak-to-trough decline	-1.92%	-15.04%	+13.12%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.05%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-4.52%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.40%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-14.40%	—
Current Drawdown Current decline from peak	-0.30%	-0.09%	-0.21%
Average Drawdown Average peak-to-trough decline	-0.52%	-3.81%	+3.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.65%	—

Volatility

Volatility by Period

	VTP	VAIPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.97%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.32%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.26%	3.38%	-0.12%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.26%	5.99%	-2.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.26%	5.32%	-2.06%

VTP vs. VAIPX - Expense Ratio Comparison

VTP has a 0.05% expense ratio, which is lower than VAIPX'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. VAIPX - Dividend Comparison

VTP's dividend yield for the trailing twelve months is around 1.61%, less than VAIPX's 4.49% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
VAIPX Vanguard Inflation-Protected Securities Fund Admiral Shares	4.49%	4.74%	4.17%	4.31%	8.45%	5.13%	1.38%	2.29%	3.12%	2.41%	3.49%	0.88%
VTP Vanguard Total Inflation-Protected Securities ETF	1.61%	1.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both VTP and VAIPX in my portfolio?

With a correlation of 0.94, VTP and VAIPX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.