VIPIX vs VTBNX
Vanguard Inflation Protected Securities Fund Insti Shs vs Vanguard Total Bond Market II Index Fund Institutional Shares
Which is better, VIPIX or VTBNX?
Inflation Protection against Long Term High Quality.
VTBNX 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 | VTBNX |
|---|---|---|
| Expense Ratio | 0.07% | 0.02%Best |
| AUM | $12.1B | $208.5B |
| Dividend Yield | 5.22% | 3.86% |
| Holdings | 59 | 11,627 |
| YTD Price Return | -3.53% | -4.05% |
| 1Y Price Return | -5.94% | -4.35% |
| 3Y Price Return (annualized) | -0.62% | +0.59% |
| 5Y Price Return (annualized) | -5.33% | -3.59% |
| Volatility (annualized) | 6.7% | 6.5%Best |
| Max Drawdown | -25.2% | -20.7%Best |
| Fund Family | Vanguard (US) | Vanguard (US) |
| Category | Fixed Income | Fixed Income |
| Style | Inflation Protection | Long Term High Quality |
| Inception | Dec 12, 2003 | Feb 17, 2009 |
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 5.22% and VTBNX 3.86%.
Volatility and max drawdown are measured over the window both funds cover: Nov 12, 2021 to Nov 10, 2026 (5 years).
VIPIX vs VTBNX Performance
Vanguard Inflation Protected Securities Fund Insti Shs (VIPIX) is a mutual fund from Vanguard (US) and Vanguard Total Bond Market II Index Fund Institutional Shares (VTBNX) is a mutual fund from Vanguard (US). Over the past year VIPIX's price moved -5.94% and VTBNX's -4.35%, before the income each one paid out.
Over three years, VIPIX compounded at -0.62% per year against +0.59% for VTBNX; over five years the annualized figures are -5.33% and -3.59% 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 6.5% for VTBNX. 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 -25.2% for VIPIX and -20.7% for VTBNX. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.80. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
VIPIX charges 0.07% per year while VTBNX charges 0.02%. On a $10,000 position that is $7 vs $2 annually, a gap of $5 per year that compounds over a long holding period. On income, VIPIX currently yields 5.22% against 3.86% for VTBNX.
Holdings Overlap
We hold position weights for 45 holdings in VIPIX and 9,578 in VTBNX, totalling 76.3% and 57.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 45 positions we hold weights for in VIPIX and 9,578 in VTBNX, against full books of 59 and 11,627.
You are not choosing between two funds in isolation.
Whichever of VIPIX and VTBNX 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 VTBNX?
VIPIX has an expense ratio of 0.07% while VTBNX charges 0.02%. VTBNX is the cheaper option, by $5 a year on a $10,000 investment.
Which is riskier, VIPIX or VTBNX?
VIPIX has been the more volatile fund at 6.7% annualized versus 6.5% for VTBNX. Worst drawdown: VIPIX -25.2% vs VTBNX -20.7%.
Should I hold both VIPIX and VTBNX?
VIPIX and VTBNX have a monthly-return correlation of 0.80, 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 VTBNX?
VIPIX yields 5.22% while VTBNX yields 3.86%, so VIPIX currently pays the higher dividend yield.
Is VTBNX better than VIPIX?
VTBNX has a lower expense ratio. Which one suits a particular account depends on what it is for. This is information, not a recommendation.