VTP vs. VTG

Last updated Jun 25, 2026

VTP (Vanguard Total Inflation-Protected Securities ETF) and VTG (Vanguard Total Treasury 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 VTG is a Intermediate Core Bond fund tracking the Bloomberg U.S. Treasury Total Return Unhedged USD Index. Both are passively managed. Their correlation of 0.85 suggests significant overlap in exposure. VTP charges 0.05%/yr vs 0.03%/yr for VTG.

Performance

VTP vs. VTG - Performance Comparison

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

Returns By Period

In the year-to-date period, VTP achieves a 1.10% return, which is significantly higher than VTG's 0.59% return.

VTP

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

VTG

• 1D: 0.48%
• 1M: 1.13%
• YTD: 0.59%
• 6M: 0.52%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

VTP vs. VTG - Yearly Performance Comparison

	2026 (YTD)	2025
VTP Vanguard Total Inflation-Protected Securities ETF	1.10%	2.46%
VTG Vanguard Total Treasury ETF	0.59%	3.07%

Correlation

The correlation between VTP and VTG is 0.85, 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 9, 2025	0.85

Return for Risk

VTP vs. VTG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Total Inflation-Protected Securities ETF (VTP) and Vanguard Total Treasury ETF (VTG). 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.

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

Drawdowns

VTP vs. VTG - Drawdown Comparison

The maximum VTP drawdown since its inception was -1.92%, smaller than the maximum VTG drawdown of -2.89%. Use the drawdown chart below to compare losses from any high point for VTP and VTG.

Drawdown Indicators

	VTP	VTG	Difference
Max Drawdown Largest peak-to-trough decline	-1.92%	-2.89%	+0.97%
Current Drawdown Current decline from peak	-0.75%	-1.21%	+0.46%
Average Drawdown Average peak-to-trough decline	-0.52%	-0.79%	+0.27%

Volatility

Volatility by Period

	VTP	VTG	Difference
Volatility (1Y) Calculated over the trailing 1-year period	3.35%	3.54%	-0.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.35%	3.54%	-0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.35%	3.54%	-0.19%

VTP vs. VTG - Expense Ratio Comparison

VTP has a 0.05% expense ratio, which is higher than VTG's 0.03% expense ratio. However, 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. VTG - Dividend Comparison

VTP's dividend yield for the trailing twelve months is around 1.62%, less than VTG's 3.18% yield.

Position	TTM	2025
VTG Vanguard Total Treasury ETF	3.18%	1.65%
VTP Vanguard Total Inflation-Protected Securities ETF	1.62%	1.56%

Frequently Asked Questions

Can I hold both VTP and VTG in my portfolio?

VTP and VTG have a correlation of 0.85, 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 VTG?

On fees, VTG is cheaper at 0.03% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, VTP or VTG?

VTG is cheaper with a 0.03% expense ratio, compared with 0.05% for VTP.

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

VTG has the higher dividend yield at 3.18%, compared with 1.62% for VTP.

What is the main difference between VTP and VTG?

VTP is categorized as Inflation-Protected Bonds, while VTG is Intermediate Core Bond. VTP tracks ICE U.S. Treasury Inflation Linked Bond Index 0-5, while VTG tracks Bloomberg U.S. Treasury Total Return Unhedged USD Index. Their fees differ too: 0.05% for VTP and 0.03% for VTG.