VTSPX vs. TLDTX

Last updated Jun 4, 2026

VTSPX (Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares) and TLDTX (T. Rowe Price U.S. Limited Duration TIPS Index Fund) are both Inflation-Protected Bonds funds. Over the past 5 years, VTSPX returned 3.40%/yr vs 1.92%/yr for TLDTX. Their correlation of 0.89 suggests significant overlap in exposure. VTSPX charges 0.04%/yr vs 0.21%/yr for TLDTX.

Performance

VTSPX vs. TLDTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares (VTSPX) and T. Rowe Price U.S. Limited Duration TIPS Index Fund (TLDTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VTSPX achieves a 2.06% return, which is significantly higher than TLDTX's 1.81% return.

VTSPX

• 1D: 0.00%
• 1M: 0.04%
• YTD: 2.06%
• 6M: 2.05%
• 1Y: 4.72%
• 3Y*: 5.26%
• 5Y*: 3.40%
• 10Y*: 3.16%

TLDTX

• 1D: 0.00%
• 1M: -0.10%
• YTD: 1.81%
• 6M: 1.84%
• 1Y: 4.44%
• 3Y*: 3.87%
• 5Y*: 1.92%
• 10Y*: —

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

VTSPX vs. TLDTX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
VTSPX Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares	2.06%	6.06%	4.75%	4.61%	-2.82%	5.32%	1.25%
TLDTX T. Rowe Price U.S. Limited Duration TIPS Index Fund	1.81%	6.32%	1.16%	3.23%	-4.84%	5.08%	1.50%

Correlation

The correlation between VTSPX and TLDTX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (All Time) Calculated using the full available price history since Nov 18, 2020	0.89

The correlation between VTSPX and TLDTX has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.

Return for Risk

VTSPX vs. TLDTX — Risk / Return Rank

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

VTSPX

VTSPX Risk / Return Rank: 94
VTSPX Sharpe Ratio Rank: 91
VTSPX Sortino Ratio Rank: 96
VTSPX Omega Ratio Rank: 91
VTSPX Calmar Ratio Rank: 96
VTSPX Martin Ratio Rank: 97

TLDTX

TLDTX Risk / Return Rank: 19
TLDTX Sharpe Ratio Rank: 12
TLDTX Sortino Ratio Rank: 12
TLDTX Omega Ratio Rank: 50
TLDTX Calmar Ratio Rank: 15
TLDTX Martin Ratio Rank: 9

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.

VTSPX vs. TLDTX - 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 T. Rowe Price U.S. Limited Duration TIPS Index Fund (TLDTX). 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	TLDTX	Difference
Sharpe ratio: Return per unit of total volatility	3.06	0.92	+2.14
Sortino ratio: Return per unit of downside risk	5.19	1.38	+3.81
Omega ratio: Gain probability vs. loss probability	1.67	1.39	+0.28
Calmar ratio: Return relative to maximum drawdown	6.50	1.33	+5.17
Martin ratio: Return relative to average drawdown	25.54	2.59	+22.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VTSPX vs. TLDTX - Sharpe Ratio Comparison

The current VTSPX Sharpe Ratio is 3.06, which is higher than the TLDTX Sharpe Ratio of 0.92. The chart below compares the historical Sharpe Ratios of VTSPX and TLDTX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	VTSPX	TLDTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.06	0.92	+2.14
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.28	0.41	+0.87
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.42	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	0.56	+0.52

Drawdowns

VTSPX vs. TLDTX - Drawdown Comparison

The maximum VTSPX drawdown since its inception was -5.35%, smaller than the maximum TLDTX drawdown of -7.24%. Use the drawdown chart below to compare losses from any high point for VTSPX and TLDTX.

Drawdown Indicators

	VTSPX	TLDTX	Difference
Max Drawdown Largest peak-to-trough decline	-5.35%	-7.24%	+1.89%
Max Drawdown (1Y) Largest decline over 1 year	-0.72%	-3.28%	+2.56%
Max Drawdown (3Y) Largest decline over 3 years	-0.92%	-4.50%	+3.58%
Max Drawdown (5Y) Largest decline over 5 years	-5.35%	-7.24%	+1.89%
Max Drawdown (10Y) Largest decline over 10 years	-5.35%	—	—
Current Drawdown Current decline from peak	-0.04%	-1.18%	+1.14%
Average Drawdown Average peak-to-trough decline	-1.01%	-2.27%	+1.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.18%	1.68%	-1.50%

Volatility

VTSPX vs. TLDTX - Volatility Comparison

The current volatility for Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares (VTSPX) is 0.57%, while T. Rowe Price U.S. Limited Duration TIPS Index Fund (TLDTX) has a volatility of 0.69%. This indicates that VTSPX experiences smaller price fluctuations and is considered to be less risky than TLDTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VTSPX	TLDTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.57%	0.69%	-0.12%
Volatility (6M) Calculated over the trailing 6-month period	1.12%	1.38%	-0.26%
Volatility (1Y) Calculated over the trailing 1-year period	1.52%	4.75%	-3.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.67%	4.66%	-1.99%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.23%	4.48%	-2.25%

VTSPX vs. TLDTX - Expense Ratio Comparison

VTSPX has a 0.04% expense ratio, which is lower than TLDTX's 0.21% 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

VTSPX vs. TLDTX - Dividend Comparison

VTSPX's dividend yield for the trailing twelve months is around 3.59%, less than TLDTX's 4.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
TLDTX T. Rowe Price U.S. Limited Duration TIPS Index Fund	4.47%	4.66%	1.63%	4.09%	6.45%	4.11%	0.00%	0.00%	0.00%	0.00%	0.00%
VTSPX Vanguard Short-Term Inflation-Protected Securities Index Fund Institutional Shares	3.59%	3.81%	2.70%	2.86%	6.84%	4.69%	1.21%	1.96%	2.47%	1.52%	0.80%

Frequently Asked Questions

Can I hold both VTSPX and TLDTX in my portfolio?

VTSPX and TLDTX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VTSPX or TLDTX?

TLDTX has higher volatility (0.69%) compared to VTSPX (0.57%). In terms of maximum drawdown, VTSPX dropped -5.35% vs TLDTX's -7.24%.

Which has better risk-adjusted returns?

VTSPX currently has the higher Sharpe Ratio (3.06 vs 0.92), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.