VTP vs. VTAPX

Last updated Apr 1, 2026

Compare and contrast key facts about Vanguard Total Inflation-Protected Securities ETF (VTP) and Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX).

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. VTAPX is managed by Vanguard. It was launched on Oct 16, 2012.

Performance

VTP vs. VTAPX - Performance Comparison

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

VTP vs. VTAPX - Yearly Performance Comparison

	2026 (YTD)	2025
VTP Vanguard Total Inflation-Protected Securities ETF	0.38%	2.27%
VTAPX Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares	0.97%	1.84%

Returns By Period

In the year-to-date period, VTP achieves a 0.38% return, which is significantly lower than VTAPX's 0.97% return.

VTP

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

VTAPX

• 1D: 0.28%
• 1M: 0.04%
• YTD: 0.97%
• 6M: 1.31%
• 1Y: 3.86%
• 3Y*: 4.67%
• 5Y*: 3.48%
• 10Y*: 3.05%

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

VTP vs. VTAPX - Expense Ratio Comparison

VTP has a 0.05% expense ratio, which is lower than VTAPX's 0.06% 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%.

VTAPX

Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares

VTP

Vanguard Total Inflation-Protected Securities ETF

Return for Risk

VTP vs. VTAPX — Risk / Return Rank

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

VTAPX

VTAPX Risk / Return Rank: 96
VTAPX Sharpe Ratio Rank: 95
VTAPX Sortino Ratio Rank: 96
VTAPX Omega Ratio Rank: 94
VTAPX Calmar Ratio Rank: 98
VTAPX Martin Ratio Rank: 96

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. VTAPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Inflation-Protected Securities ETF (VTP) and Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares (VTAPX). 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	VTAPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.28	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.31	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	1.37	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.11	1.04	+0.06

Correlation

The correlation between VTP and VTAPX is 0.79, 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. VTAPX - Dividend Comparison

VTP's dividend yield for the trailing twelve months is around 1.55%, less than VTAPX's 3.55% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
VTP Vanguard Total Inflation-Protected Securities ETF	1.55%	1.56%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VTAPX Vanguard Short-Term Inflation-Protected Securities Index Fund Admiral Shares	3.55%	3.78%	2.68%	2.84%	6.82%	4.67%	1.19%	1.94%	2.45%	1.52%	0.76%

Drawdowns

VTP vs. VTAPX - Drawdown Comparison

The maximum VTP drawdown since its inception was -1.92%, smaller than the maximum VTAPX drawdown of -5.33%. Use the drawdown chart below to compare losses from any high point for VTP and VTAPX.

Drawdown Indicators

	VTP	VTAPX	Difference
Max Drawdown Largest peak-to-trough decline	-1.92%	-5.33%	+3.41%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.92%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-5.33%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-5.33%	—
Current Drawdown Current decline from peak	-1.31%	-0.28%	-1.03%
Average Drawdown Average peak-to-trough decline	-0.53%	-1.04%	+0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.29%	—

Volatility

Volatility by Period

	VTP	VTAPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.59%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.96%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.33%	1.79%	+1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.33%	2.67%	+0.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.33%	2.23%	+1.10%