VIPIX vs VMLUX
Vanguard Inflation Protected Securities Fund Insti Shs vs Vanguard Limited Term Tax-Exempt Fund admiral class
Which is better, VIPIX or VMLUX?
Inflation Protection against Municipal Bond.
VIPIX has a lower expense ratio.
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 | VIPIX | VMLUX |
|---|---|---|
| Expense Ratio | 0.07%Best | 0.09% |
| AUM | $12.4B | $34.5B |
| Dividend Yield | 5.20% | 3.20% |
| Holdings | 69 | 7,398 |
| YTD Price Return | -3.74% | -3.00% |
| 1Y Price Return | -5.86% | -3.09% |
| 3Y Price Return (annualized) | -0.30% | +0.44% |
| 5Y Price Return (annualized) | -4.98% | -0.97% |
| Volatility (annualized) | 6.7% | 3.0%Best |
| Max Drawdown | -24.4% | -8.1%Best |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Fixed Income | Tax Preferred |
| Style | Inflation Protection | Municipal Bond |
| Inception | Dec 12, 2003 | Feb 12, 2001 |
Not shown on this pair: $10,000 over 5 years, Top 10 Weight.
A price return is not the return of a fund that pays its income out. The coupon or distribution never appears in the price, so the return rows carry no winner here. VIPIX currently yields 5.20% and VMLUX 3.20%.
Volatility and max drawdown are measured over the window both funds cover: Oct 4, 2021 to Sep 30, 2026 (5 years).
VIPIX vs VMLUX Performance
Vanguard Inflation Protected Securities Fund Insti Shs (VIPIX) is a mutual fund from Vanguard (US) and Vanguard Limited Term Tax-Exempt Fund admiral class (VMLUX) is a mutual fund from Vanguard (US). Over the past year VIPIX's price moved -5.86% and VMLUX's -3.09%, before the income each one paid out.
Over three years, VIPIX compounded at -0.30% per year against +0.44% for VMLUX; over five years the annualized figures are -4.98% and -0.97% respectively.
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 3.0% for VMLUX. 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 -24.4% for VIPIX and -8.1% for VMLUX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.70. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
VIPIX charges 0.07% per year while VMLUX charges 0.09%. On a $10,000 position that is $7 vs $9 annually, a gap of $2 per year that compounds over a long holding period. On income, VIPIX currently yields 5.20% against 3.20% for VMLUX.
Holdings Overlap
We hold position weights for 52 holdings in VIPIX and 878 in VMLUX, totalling 74.3% and 24.4% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 2 positions appear in both.
2 positions in common, counted across the 52 positions we hold weights for in VIPIX and 878 in VMLUX, against full books of 69 and 7,398.
Top Shared Holdings
| Stock | Weight in VIPIX | Weight in VMLUX | Difference |
|---|---|---|---|
| T 4.25 11/15/34Us Treas Nts 4.25% 11/15/34 | 0.08% | 0.00% | 0.08% |
| T 4.25 08/15/35United States Treasury Note/Bond 4.25% 08/15/2035 | 0.04% | 0.00% | 0.04% |
You are not choosing between two funds in isolation.
Whichever of VIPIX and VMLUX you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, VIPIX or VMLUX?
VIPIX has an expense ratio of 0.07% while VMLUX charges 0.09%. VIPIX is the cheaper option, by $2 a year on a $10,000 investment.
Which is riskier, VIPIX or VMLUX?
VIPIX has been the more volatile fund at 6.7% annualized versus 3.0% for VMLUX. Worst drawdown: VIPIX -24.4% vs VMLUX -8.1%.
Should I hold both VIPIX and VMLUX?
VIPIX and VMLUX have a monthly-return correlation of 0.70, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, VIPIX or VMLUX?
VIPIX yields 5.20% while VMLUX yields 3.20%, so VIPIX currently pays the higher dividend yield.
Is VMLUX better than VIPIX?
VIPIX has a lower expense ratio. Which one suits a particular account depends on what it is for. This is information, not a recommendation.