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PBTP vs VTIP

Invesco 0-5 Yr US TIPS ETF

PBTPACboe

Vanguard Short-Term Inflation-Protected Securities ETF

VTIPANasdaq

Overlap

No data

Expense ratio

VTIP −0.04pt a year

PBTP0.07%VTIP0.03%

Avg volume · 30D

VTIP 33.1×the volume

PBTP83.7KVTIP2.77M

5Y return · a year

Same figure. Both funds show the same value, so neither comes out ahead.

PBTP+3.0%VTIP+3.0%

PBTP vs VTIP Performance

Oct 29, 2021 – Oct 30, 2026

+15.8%PBTP+16.1%VTIP

Oct 29, 2021 to Oct 30, 2026. PBTP +15.8%. VTIP +16.1%. Use the arrow keys to read each point.0%5%10%Oct 2021Apr 2024Oct 2026
Expense ratio
PBTP 0.07%
VTIP 0.03%, better
Fund size
PBTP $248M
VTIP $73.1B
1Y total return
PBTP +2.7%
VTIP +2.7%
Yield (12M)
PBTP 3.99%
VTIP 4.79%, better
Holdings
PBTP 27
VTIP 27
Avg volume (30D)
PBTP 83.7K sh
VTIP 2.77M sh, better
NAV per share
PBTP $25.80
VTIP $48.95
52W range

ETF.net Grade

PBTP: Cost 90, Risk 74, Mission 57, Tradability 58, Holdings 82, Durability 64. VTIP: Cost 98, Risk 57, Mission 43, Tradability 82, Holdings 68, Durability 96.
Pillar letters and Scores for PBTP, VTIP, with each pillar’s weight
PillarPBTPVTIP
Cost30% weightA90A98Higher
Mission25% weightB57HigherC43
Risk15% weightA74HigherB57
Tradability15% weightB58A82Higher
Holdings10% weightA82HigherB68
Durability5% weightB64A96Higher

Rank among TIPS funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. PBTP and VTIP are both graded against the same 40 TIPS funds, so their Grades compare head to head.

TIPS⁠

Category · 40 funds
See all 40 ›

PBTP ranks 4th and VTIP 4th of 40 funds in the TIPS Category.

  1. Rank 1ASCHPSchwab US TIPS ETFScore 85
  2. Rank 2ASTIPiShares 0-5 Year TIPS Bond ETFScore 80
  3. Rank 3AVTPVanguard Total Inflation-Protected Securities ETFScore 77
  4. Rank 4APBTPInvesco 0-5 Yr US TIPS ETFScore 72
  5. Rank 4AVTIPVanguard Short-Term Inflation-Protected Securities ETFScore 72
  6. Rank 6BSPIPState Street SPDR Portfolio TIPS ETFScore 68

Our read on each fund

ETF.net Research

PBTPAInvesco 0-5 Yr US TIPS ETF

VTIPAVanguard Short-Term Inflation-Protected Securities ETF

In short

PBTP Inflation-linked Treasuries with the long end cut off: PBTP holds only TIPS maturing inside five years, keeping the CPI adjustment while dialing down interest-rate swings.

VTIP Inflation protection without the long-bond whiplash. VTIP holds only Treasury TIPS maturing inside five years, so CPI does most of the driving and rate swings do less of it, for three basis points a year.

Stated mandate

PBTP The fund provides exposure to US Treasury Inflation-Protected Securities with remaining maturities from one month to less than five years.

VTIP Tracks a benchmark measuring the investment return of U.S. Treasury inflation-protected public obligations with remaining maturities under five years.

Why people hold it

  • PBTP Costs 0.07% a year, under the 0.12% median for Treasury bond ETFs.
  • Narrow by design: only TIPS with one month to under five years remaining, which leaves out the long-dated bonds that drive most price swings in broad TIPS funds.invesco.com
  • Index-tracked and running at Invesco since 2017, with distributions paid quarterly.
  • VTIP Three basis points a year, against a 0.12% median for Treasury bond ETFs in its group. Vanguard's at-cost setup shows up right in the fee line.vanguard.com
  • TIPS principal ratchets with CPI, and the under-five-year maturity cap keeps duration short, so rate moves land lighter here than in full-curve TIPS funds like SCHP.vanguard.com
  • Open since 2012 and now a multi-billion-dollar, actively traded fund that owns Treasury paper directly. Plain index rules, no swaps, no credit detours.

Worth knowing

  • PBTP Thinly traded next to the big names in the aisle, so spreads can run wider and sizeable orders take more care.
  • Broad TIPS funds such as SCHP charge 0.03% and cover the whole maturity ladder. Here you pay a bit more to skip the long end.
  • Short maturities cut both ways: less real-yield duration means smaller moves when rates fall as well as when they rise.
  • VTIP Short maturities cut both ways: less sensitivity to rates, and less exposure to shifts in long-run inflation expectations than a full-maturity TIPS fund such as SCHP.
  • Income rides on CPI accruals, so the quarterly payout moves around rather than arriving as a steady coupon.
  • This is one narrow slice of one market, short US Treasury TIPS, not a diversified bond portfolio.

Full PBTP profile⁠

Full VTIP profile⁠

PBTP vs VTIP Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

PBTP vs VTIP Cost

Overpaying PBTP vs VTIP

$842

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PBTP 0.07%

    $1,480

  • VTIP 0.03%

    $638

$10,000
30 years

Cost over time

  • PBTP 0.07%
  • VTIP 0.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$500$1K$1.5K051015202530PBTP $1,480VTIP $638

Year by year

YearPBTPVTIPOverpaying
10$128$55$73
20$503$216$287
30$1,480$638$842

Expense ratio

  • 0.07%PBTP
  • 0.03%VTIP, cheaper
  • Middle half of TIPS funds
  • Median 0.10%

VTIP cheapest of 40 funds

PBTP 5th cheapest of 40 funds

PBTP vs VTIP Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
PBTP 3.99%
VTIP 4.79%, better
Payout (12M)
PBTP $1.03
VTIP $2.35
Last payment
PBTP $0.02
VTIP $0.93
Ex-dividend
PBTP Sep 21, 2026
VTIP Oct 1, 2026
Paid on
PBTP Sep 25, 2026
VTIP Oct 5, 2026
Frequency
PBTP Quarterly
VTIP Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

PBTPQuarterly · 33 paymentsAll PBTP payments⁠
One bar per payment. 33 payments from 2017 to 2026 YTD. Dec 18, 2017 $0.18; Jun 18, 2018 $0.29; Sep 24, 2018 $0.20; Dec 24, 2018 $0.08; Jun 24, 2019 $0.29; Sep 23, 2019 $0.12; Dec 23, 2019 $0.12; Mar 23, 2020 $0.001; Jun 22, 2020 $0.01; Sep 21, 2020 $0.08; Dec 21, 2020 $0.23; Jun 21, 2021 $0.13; Sep 20, 2021 $0.35; Dec 20, 2021 $0.35; Mar 21, 2022 $0.13; Jun 21, 2022 $0.40; Sep 19, 2022 $0.51; Dec 19, 2022 $0.26; Mar 20, 2023 $0.0073; Jun 20, 2023 $0.29; Sep 18, 2023 $0.16; Dec 18, 2023 $0.13; Mar 18, 2024 $0.03; Jun 24, 2024 $0.43; Sep 23, 2024 $0.09; Dec 23, 2024 $0.11; Mar 24, 2025 $0.21; Jun 23, 2025 $0.27; Sep 22, 2025 $0.22; Dec 22, 2025 $0.30; Mar 23, 2026 $0.04; Jun 22, 2026 $0.68; Sep 21, 2026 $0.02. Use the arrow keys to read each point.$0$12017202020232026YTD
VTIPQuarterly · 32 paymentsAll VTIP payments⁠
One bar per payment. 32 payments from 2017 to 2026 YTD. Dec 26, 2017 $0.74; Jun 18, 2018 $0.29; Sep 24, 2018 $0.52; Dec 13, 2018 $0.36; Jun 17, 2019 $0.17; Sep 24, 2019 $0.44; Dec 23, 2019 $0.35; Oct 1, 2020 $0.28; Dec 23, 2020 $0.33; Mar 25, 2021 $0.09; Jul 1, 2021 $0.48; Oct 1, 2021 $0.87; Dec 23, 2021 $0.96; Apr 1, 2022 $0.49; Jul 1, 2022 $0.68; Oct 3, 2022 $0.90; Dec 23, 2022 $1.12; Apr 3, 2023 $0.03; Jul 3, 2023 $0.35; Oct 2, 2023 $0.34; Dec 22, 2023 $0.64; Apr 1, 2024 $0.03; Jul 1, 2024 $0.44; Oct 1, 2024 $0.31; Dec 24, 2024 $0.53; Apr 1, 2025 $0.10; Jul 1, 2025 $0.43; Oct 1, 2025 $0.65; Dec 18, 2025 $0.71; Apr 1, 2026 $0.02; Jul 1, 2026 $0.68; Oct 1, 2026 $0.93. Use the arrow keys to read each point.$0$12017202020232026YTD

PBTP vs VTIP Risk

Fall from peak · 5 years

  • PBTP
  • VTIP
Oct 29, 2021 to Oct 30, 2026. Worst fall: VTIP −5.5% · Sep 2022. Use the arrow keys to read each point.−5%−4%−3%−2%−1%0%Oct 2021Apr 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
PBTP 1.9%VTIP 1.9%Same figure. Both funds show the same value, so neither comes out ahead.
Return per unit of riskSharpe ratio, 3 years
PBTP 0.28VTIP 0.29, better
Worst fallMax drawdown, 5 years
PBTP −5.5%VTIP −5.5%Same figure. Both funds show the same value, so neither comes out ahead.
Market sensitivityBeta, 5 years
PBTP 0.20VTIP 0.21

PBTP and VTIP in the news

All news⁠

Popular comparisons

  • PBTPAvsSCHPA

    Invesco 0-5 Yr US TIPS ETF · Schwab US TIPS ETF

    Expense ratio
    0.07% · 0.03%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • VTIPAvsSCHPA

    Vanguard Short-Term Inflation-Protected Securities ETF · Schwab US TIPS ETF

    Expense ratio
    0.03% · 0.03%
    Category
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  • PBTPAvsSTIPA

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    Expense ratio
    0.07% · 0.03%
    Category
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  • VTIPAvsSTIPA

    Vanguard Short-Term Inflation-Protected Securities ETF · iShares 0-5 Year TIPS Bond ETF

    Expense ratio
    0.03% · 0.03%
    Category
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  • PBTPAvsVTPA

    Invesco 0-5 Yr US TIPS ETF · Vanguard Total Inflation-Protected Securities ETF

    Expense ratio
    0.07% · 0.05%
    Category
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  • VTIPAvsVTPA

    Vanguard Short-Term Inflation-Protected Securities ETF · Vanguard Total Inflation-Protected Securities ETF

    Expense ratio
    0.03% · 0.05%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.