VIITX vs VIPIX
Vanguard Institutional Intermediate Term Bond Fund Institutional Plus Class vs Vanguard Inflation Protected Securities Fund Insti Shs
Quick Verdict
VIITX has a lower expense ratio. VIITX delivered stronger 1-year returns. VIITX offers more diversification with 2,599 holdings.
Side-by-Side Comparison
| Metric | VIITX | VIPIX | Winner |
|---|---|---|---|
| Expense Ratio | 0.02% | 0.07% | |
| AUM | - | $12.4B | |
| Dividend Yield | 4.59% | 5.21% | |
| Holdings | 2,599 | 63 | |
| YTD Return | -1.66% | -0.53% | |
| 1Y Return | -1.16% | -2.41% | |
| 3Y Return (annualized) | +0.81% | +0.00% | |
| 5Y Return (annualized) | -2.27% | -4.69% | |
| Volatility (annualized) | 4.2% | 6.7% | |
| Max Drawdown | -15.0% | -24.5% | |
| Fund Family | Vanguard (US) | Vanguard (US) | |
| Category | Fixed Income | Fixed Income | |
| Inception | Dec 1, 1997 | Dec 12, 2003 |
VIITX vs VIPIX Performance
Vanguard Institutional Intermediate Term Bond Fund Institutional Plus Class (VIITX) is a mutual fund from Vanguard (US) and Vanguard Inflation Protected Securities Fund Insti Shs (VIPIX) is a mutual fund from Vanguard (US). Over the past year VIITX returned -1.16% while VIPIX returned -2.41%. Year to date, VIITX is down 1.66% versus a loss of 0.53% for VIPIX.
Over three years, VIITX compounded at +0.81% per year against +0.00% for VIPIX; over five years the annualized figures are -2.27% and -4.69% respectively. Across the full 5-year window we track, VIITX has the edge at -2.27% annualized vs -4.69%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VIPIX has been the more volatile fund, with annualized monthly volatility of 6.7% compared with 4.2% for VIITX. 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 -15.0% for VIITX and -24.5% for VIPIX. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.77. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
VIITX charges 0.02% per year while VIPIX charges 0.07%. On a $10,000 position that is $2 vs $7 annually, a gap of $5 per year that compounds over a long holding period. On income, VIITX currently yields 4.59% against 5.21% for VIPIX.
Holdings Overlap
VIITX and VIPIX share 0 holdings out of 1240 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, VIITX or VIPIX?
VIITX has an expense ratio of 0.02% while VIPIX charges 0.07%. VIITX is the cheaper option. On a $10,000 investment, that is $5 per year of difference.
Which performed better, VIITX or VIPIX?
Over the past year VIITX returned -1.16% vs -2.41% for VIPIX, so VIITX leads on 1-year performance. Over the longest common window we track (5 years), VIITX annualized -2.27% vs -4.69% for VIPIX. Past performance does not guarantee future results.
Which is riskier, VIITX or VIPIX?
VIPIX has been the more volatile fund at 6.7% annualized versus 4.2% for VIITX. Worst drawdown: VIITX -15.0% vs VIPIX -24.5%.
Should I hold both VIITX and VIPIX?
VIITX and VIPIX have a monthly-return correlation of 0.77, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between VIITX and VIPIX?
VIITX and VIPIX share 0 common holdings with a 0.0% weight overlap. Combined, they hold 1240 unique securities.
Which pays a higher dividend, VIITX or VIPIX?
VIITX yields 4.59% while VIPIX yields 5.21%, so VIPIX currently pays the higher dividend yield.
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