PIPE vs VTI
Invesco SteelPath MLP & Energy Infrastructure ETF vs Vanguard Morningstar Total Stock Market ETF
Which is better, PIPE or VTI?
Mid Cap Value against Large Cap Blend.
VTI has a lower expense ratio. PIPE led over 1Y, VTI over the full window. VTI is less concentrated, with 33.3% of the fund in its ten largest positions against 55.0%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | PIPE | VTI |
|---|---|---|
| Expense Ratio | 0.75% | 0.03%Best |
| AUM | $68M | $666.9B |
| Dividend Yield | 3.67% | 1.03% |
| Holdings | 29 | 3,543 |
| YTD Return | +24.86%Best | +12.30% |
| 1Y Return | +25.79%Best | +16.08% |
| 3Y Return (annualized) | - | +21.01% |
| 5Y Return (annualized) | - | +12.36% |
| Volatility (annualized) | 14.3% | 13.1%Best |
| Max Drawdown | -15.7%Best | -18.9% |
| $10,000 over 1.6 years | $12,619 | $12,729Best |
| Top 10 Weight | 55.0% | 33.3%Best |
| Fund Family | Invesco (US) | Vanguard (US) |
| Category | Equity | Equity |
| Style | Mid Cap Value | Large Cap Blend |
| Inception | Feb 20, 2025 | May 24, 2001 |
Volatility and max drawdown, and the $10,000 over 1.6 years row, are measured over the window both funds cover: Feb 20, 2025 to Sep 18, 2026 (1.6 years).
PIPE vs VTI growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.6 years both funds cover.
PIPE vs VTI Performance
Invesco SteelPath MLP & Energy Infrastructure ETF (PIPE) is an ETF from Invesco (US) and Vanguard Morningstar Total Stock Market ETF (VTI) is an ETF from Vanguard (US). Over the past year PIPE returned +25.79% while VTI returned +16.08%. Year to date, PIPE is up 24.86% versus a gain of 12.30% for VTI.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
PIPE has been the more volatile fund, with annualized monthly volatility of 14.3% compared with 13.1% for VTI. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -15.7% for PIPE and -18.9% for VTI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at -0.10. They move largely independently of each other.
Fees and Cost Over Time
PIPE charges 0.75% per year while VTI charges 0.03%. On a $10,000 position that is $75 vs $3 annually, a gap of $72 per year that compounds over a long holding period. On income, PIPE currently yields 3.67% against 1.03% for VTI.
Holdings Overlap
43.0% of PIPE's money is in holdings VTI also owns. 0.5% of VTI's money is in holdings PIPE also owns.
The two portfolios partly overlap.
10 positions in common, counted across the 26 positions we hold weights for in PIPE and 3,463 in VTI, against full books of 29 and 3,543.
What only one of them owns
Our book lists 1,141 positions for VTI that do not appear in our book for PIPE (97.0% of the fund), and 10 for PIPE that do not appear in VTI (36.0%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
Top Shared Holdings
| Stock | Weight in PIPE | Weight in VTI | Difference |
|---|---|---|---|
| TRGPTarga Resources Corp Preferred | 8.39% | 0.08% | 8.31% |
| WMBWilliams Cos. Inc. | 6.25% | 0.12% | 6.13% |
| OKEOneok Inc. | 5.00% | 0.08% | 4.92% |
| LNGCheniere Energy Inc. | 4.96% | 0.08% | 4.88% |
| KMIKinder Morgan Inc./de | 4.35% | 0.08% | 4.27% |
| KGSKodiak Gas Services Inccommon Stock | 4.08% | 0.01% | 4.07% |
| AMAntero Midstream Corporationam | 3.19% | 0.01% | 3.18% |
| KNTKAltus Midstream Company | 2.89% | 0.00% | 2.89% |
| DTMDT Midstream Inc | 2.06% | 0.02% | 2.04% |
| AROCArchrock, Inc. | 1.81% | 0.01% | 1.80% |
43.0% of PIPE is already inside VTI.
You probably hold more than these two. Add the rest and see how much of the whole book is the same companies twice.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, PIPE or VTI?
PIPE has an expense ratio of 0.75% while VTI charges 0.03%. VTI is the cheaper option, by $72 a year on a $10,000 investment.
Which performed better, PIPE or VTI?
Over the past year PIPE returned +25.79% vs +16.08% for VTI, so PIPE leads on 1-year performance. Over the longest common window we track (2 years), PIPE annualized +15.65% vs +16.28% for VTI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, PIPE or VTI?
PIPE has been the more volatile fund at 14.3% annualized versus 13.1% for VTI. Worst drawdown: PIPE -15.7% vs VTI -18.9%.
Should I hold both PIPE and VTI?
PIPE and VTI have a monthly-return correlation of -0.10, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
What is the holdings overlap between PIPE and VTI?
43.0% of PIPE's money is in holdings VTI also owns. 0.5% of VTI's is in holdings PIPE also owns. They hold 10 positions in common, counted across the 26 positions we hold weights for in PIPE and 3,463 in VTI.
Which pays a higher dividend, PIPE or VTI?
PIPE yields 3.67% while VTI yields 1.03%, so PIPE currently pays the higher dividend yield.
Is VTI better than PIPE?
VTI has a lower expense ratio. PIPE led over 1Y, VTI over the full window. VTI is less concentrated, with 33.3% of the fund in its ten largest positions against 55.0%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.