VTSPX vs. TBLL
Compare and contrast key facts about Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares (VTSPX) and Invesco Short Term Treasury ETF (TBLL).
VTSPX is managed by Vanguard. It was launched on Oct 17, 2012. TBLL is a passively managed fund by Invesco that tracks the performance of the ICE U.S. Treasury Short Bond Index. It was launched on Jan 10, 2017.
Performance
VTSPX vs. TBLL - Performance Comparison
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VTSPX vs. TBLL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
VTSPX Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares | 0.97% | 6.06% | 4.75% | 4.61% | -2.82% | 5.32% | 4.99% | 4.82% | 0.59% | 0.58% |
TBLL Invesco Short Term Treasury ETF | 0.81% | 4.21% | 5.11% | 5.01% | 1.11% | -0.01% | 0.93% | 2.20% | 1.85% | 0.62% |
Returns By Period
In the year-to-date period, VTSPX achieves a 0.97% return, which is significantly higher than TBLL's 0.81% return.
VTSPX
- 1D
- 0.28%
- 1M
- 0.04%
- YTD
- 0.97%
- 6M
- 1.36%
- 1Y
- 3.93%
- 3Y*
- 4.69%
- 5Y*
- 3.51%
- 10Y*
- 3.08%
TBLL
- 1D
- 0.01%
- 1M
- 0.25%
- YTD
- 0.81%
- 6M
- 1.81%
- 1Y
- 3.99%
- 3Y*
- 4.66%
- 5Y*
- 3.22%
- 10Y*
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VTSPX vs. TBLL - Expense Ratio Comparison
VTSPX has a 0.04% expense ratio, which is lower than TBLL's 0.08% 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%.
Return for Risk
VTSPX vs. TBLL — Risk / Return Rank
VTSPX
TBLL
VTSPX vs. TBLL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares (VTSPX) and Invesco Short Term Treasury ETF (TBLL). 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.
| VTSPX | TBLL | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 2.31 | 19.99 | -17.69 |
Sortino ratioReturn per unit of downside risk | 3.51 | 122.32 | -118.80 |
Omega ratioGain probability vs. loss probability | 1.51 | 52.75 | -51.24 |
Calmar ratioReturn relative to maximum drawdown | 4.69 | 105.93 | -101.24 |
Martin ratioReturn relative to average drawdown | 14.73 | 1,282.71 | -1,267.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| VTSPX | TBLL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.31 | 19.99 | -17.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.32 | 7.22 | -5.90 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.39 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.05 | 4.18 | -3.13 |
Correlation
The correlation between VTSPX and TBLL is 0.10, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
VTSPX vs. TBLL - Dividend Comparison
VTSPX's dividend yield for the trailing twelve months is around 3.58%, less than TBLL's 3.91% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
VTSPX Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares | 3.58% | 3.81% | 2.70% | 2.86% | 6.84% | 4.69% | 1.21% | 1.96% | 2.47% | 1.52% | 0.80% |
TBLL Invesco Short Term Treasury ETF | 3.91% | 4.08% | 4.99% | 4.63% | 1.37% | 0.03% | 0.80% | 2.08% | 1.69% | 0.71% | 0.00% |
Drawdowns
VTSPX vs. TBLL - Drawdown Comparison
The maximum VTSPX drawdown since its inception was -5.35%, which is greater than TBLL's maximum drawdown of -0.63%. Use the drawdown chart below to compare losses from any high point for VTSPX and TBLL.
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Drawdown Indicators
| VTSPX | TBLL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.35% | -0.63% | -4.72% |
Max Drawdown (1Y)Largest decline over 1 year | -0.92% | -0.04% | -0.88% |
Max Drawdown (5Y)Largest decline over 5 years | -5.35% | -0.36% | -4.99% |
Max Drawdown (10Y)Largest decline over 10 years | -5.35% | — | — |
Current DrawdownCurrent decline from peak | -0.28% | 0.00% | -0.28% |
Average DrawdownAverage peak-to-trough decline | -1.02% | -0.14% | -0.88% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.29% | 0.00% | +0.29% |
Volatility
VTSPX vs. TBLL - Volatility Comparison
Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares (VTSPX) has a higher volatility of 0.60% compared to Invesco Short Term Treasury ETF (TBLL) at 0.05%. This indicates that VTSPX's price experiences larger fluctuations and is considered to be riskier than TBLL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| VTSPX | TBLL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.60% | 0.05% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 0.96% | 0.12% | +0.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.78% | 0.20% | +1.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.67% | 0.45% | +2.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.23% | 0.56% | +1.67% |