VTP vs. VGVT

Last updated Jun 5, 2026

VTP (Vanguard Total Inflation-Protected Securities ETF) and VGVT (Vanguard Government Securities Active ETF) are both exchange-traded funds - VTP is a Inflation-Protected Bonds fund tracking the ICE U.S. Treasury Inflation Linked Bond Index 0-5, while VGVT is a Intermediate Core Bond fund actively managed by Vanguard. VTP is passively managed, while VGVT is actively managed. A 0.79 correlation means they provide meaningful diversification when combined. VTP charges 0.05%/yr vs 0.10%/yr for VGVT.

Performance

VTP vs. VGVT - Performance Comparison

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

Returns By Period

In the year-to-date period, VTP achieves a 1.51% return, which is significantly higher than VGVT's 0.15% return.

VTP

• 1D: -0.04%
• 1M: -0.03%
• YTD: 1.51%
• 6M: 1.20%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

VGVT

• 1D: 0.05%
• 1M: 0.09%
• YTD: 0.15%
• 6M: 0.24%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VTP vs. VGVT - Yearly Performance Comparison

	2026 (YTD)	2025
VTP Vanguard Total Inflation-Protected Securities ETF	1.51%	2.27%
VGVT Vanguard Government Securities Active ETF	0.15%	3.28%

Correlation

The correlation between VTP and VGVT 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 10, 2025	0.79

Return for Risk

VTP vs. VGVT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Inflation-Protected Securities ETF (VTP) and Vanguard Government Securities Active ETF (VGVT). 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	VGVT	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.30	1.19	+0.11

Drawdowns

VTP vs. VGVT - Drawdown Comparison

The maximum VTP drawdown since its inception was -1.92%, smaller than the maximum VGVT drawdown of -2.77%. Use the drawdown chart below to compare losses from any high point for VTP and VGVT.

Drawdown Indicators

	VTP	VGVT	Difference
Max Drawdown Largest peak-to-trough decline	-1.92%	-2.77%	+0.85%
Current Drawdown Current decline from peak	-0.34%	-1.71%	+1.37%
Average Drawdown Average peak-to-trough decline	-0.52%	-0.67%	+0.15%

Volatility

Volatility by Period

	VTP	VGVT	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.26%	3.22%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.26%	3.22%	+0.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.26%	3.22%	+0.04%

VTP vs. VGVT - Expense Ratio Comparison

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

VTP's dividend yield for the trailing twelve months is around 1.61%, less than VGVT's 3.98% yield.

Position	TTM	2025
VGVT Vanguard Government Securities Active ETF	3.98%	2.29%
VTP Vanguard Total Inflation-Protected Securities ETF	1.61%	1.56%

Frequently Asked Questions

Can I hold both VTP and VGVT in my portfolio?

VTP and VGVT 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 VGVT?

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 VGVT?

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

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

VGVT has the higher dividend yield at 3.98%, compared with 1.61% for VTP.

What is the main difference between VTP and VGVT?

VTP is categorized as Inflation-Protected Bonds, while VGVT is Intermediate Core Bond. Their fees differ too: 0.05% for VTP and 0.10% for VGVT.