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PBTP vs VTP

Invesco 0-5 Yr US TIPS ETF

PBTPACboe

Vanguard Total Inflation-Protected Securities ETF

VTPANYSE Arca

Overlap

No data

Expense ratio

VTP −0.02pt a year

PBTP0.07%VTP0.05%

Avg volume · 30D

PBTP 1.3×the volume

PBTP83.7KVTP63.4K

PBTP vs VTP Performance

Oct 31, 2025 – Oct 30, 2026

+2.7%PBTP+0.2%VTP

Oct 31, 2025 to Oct 30, 2026. PBTP +2.7%. VTP +0.2%. Use the arrow keys to read each point.−2%−1%1%2%Oct 2025Apr 2026Oct 2026
Expense ratio
PBTP 0.07%
VTP 0.05%, better
Fund size
PBTP $248M
VTP $251M
1Y total return
PBTP +2.7%, better
VTP +0.2%
Yield (12M)
PBTP 3.99%, better
VTP 3.74%
Holdings
PBTP 27
VTP 51
Avg volume (30D)
PBTP 83.7K sh, better
VTP 63.4K sh
NAV per share
PBTP $25.80
VTP $74.00
52W range

ETF.net Grade

PBTP: Cost 90, Risk 74, Mission 57, Tradability 58, Holdings 82, Durability 64. VTP: Cost 93, Risk 37, Mission 100, Tradability 51, Holdings 79, Durability 67.
Pillar letters and Scores for PBTP, VTP, with each pillar’s weight
PillarPBTPVTP
Cost30% weightA90A93Higher
Mission25% weightB57A100Higher
Risk15% weightA74HigherD37
Tradability15% weightB58HigherC51
Holdings10% weightA82HigherA79
Durability5% weightB64B67Higher

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 VTP are both graded against the same 40 TIPS funds, so their Grades compare head to head.

TIPS⁠

Category · 40 funds
See all 40 ›

VTP ranks 3rd and PBTP 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

Our read on each fund

ETF.net Research

PBTPAInvesco 0-5 Yr US TIPS ETF

VTPAVanguard Total 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.

VTP Vanguard's ETF answer for the whole TIPS curve. It tracks a market-value-weighted index of Treasury inflation-linked bonds with at least a year left to run, charges five basis points, and opened for business in 2025.

Stated mandate

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

VTP The Fund passively tracks the full market of U.S. Treasury inflation-protected public obligations through the ICE U.S. Treasury Inflation Linked Bond Index.

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.
  • VTP Five basis points: under half the typical fund in its Treasury peer group, and well below the 0.12% charged by broad TIPS rival SPIP.
  • Full-curve coverage. The index is market value weighted and takes inflation-protected Treasuries with at least one year to maturity, no upper limit, so no single maturity slice bet.ice.com
  • Vanguard's other inflation-linked ETF stops below five years to maturity. This one is the long-end-included sibling, in the same low-cost index wrapper.vanguard.com
  • The inflation link sits inside the bonds, not in a strategy overlay: principal and coupons are indexed to consumer prices, and the fund passes income through quarterly.vanguard.com

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.
  • VTP Owning the long end cuts both ways. Real-rate moves hit a full-maturity TIPS portfolio harder than a sub-five-year one, so expect more price movement.ice.comvanguard.com
  • A 2025 launch means a short track record and thinner trading than the long-established TIPS funds, which can show up as wider bid-ask spreads.
  • Payouts move with inflation adjustments rather than a fixed rate, and Vanguard discloses that a distribution can include return of capital.vanguard.com

Full PBTP profile⁠

Full VTP profile⁠

PBTP vs VTP 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 VTP Cost

Overpaying PBTP vs VTP

$420

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

  • PBTP 0.07%

    $1,480

  • VTP 0.05%

    $1,060

$10,000
30 years

Cost over time

  • PBTP 0.07%
  • VTP 0.05%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$500$1K$1.5K051015202530PBTP $1,480VTP $1,060

Year by year

YearPBTPVTPOverpaying
10$128$92$36
20$503$360$143
30$1,480$1,060$420

Expense ratio

  • 0.07%PBTP
  • 0.05%VTP, cheaper
  • Middle half of TIPS funds
  • Median 0.10%

VTP 4th cheapest of 40 funds

PBTP 5th cheapest of 40 funds

PBTP vs VTP Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
PBTP 3.99%, better
VTP 3.74%
Payout (12M)
PBTP $1.03
VTP $2.77
Last payment
PBTP $0.02
VTP $0.99
Ex-dividend
PBTP Sep 21, 2026
VTP Oct 1, 2026
Paid on
PBTP Sep 25, 2026
VTP Oct 5, 2026
Frequency
PBTP Quarterly
VTP 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
VTPQuarterly · 5 paymentsAll VTP payments⁠
One bar per payment. 5 payments from 2017 to 2026 YTD. Oct 1, 2025 $0.47; Dec 18, 2025 $0.71; Apr 1, 2026 $0.06; Jul 1, 2026 $1.01; Oct 1, 2026 $0.99. Use the arrow keys to read each point.$0$12017202020232026YTD

PBTP vs VTP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
PBTP 1.9%VTP 4.3%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
PBTP 0.28VTP −0.42since Aug 2025
Worst fallMax drawdown, 5 years
PBTP −5.5%VTP −4.0%since Jul 2025
Market sensitivityBeta, 5 years
PBTP 0.20VTP 0.14

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