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SPIP vs VTP

State Street SPDR Portfolio TIPS ETF

SPIPBNYSE Arca

Vanguard Total Inflation-Protected Securities ETF

VTPANYSE Arca

Overlap

No data

Expense ratio

VTP −0.07pt a year

SPIP0.12%VTP0.05%

Avg volume · 30D

SPIP 7.7×the volume

SPIP487KVTP63.4K

SPIP vs VTP Performance

Oct 31, 2025 – Oct 30, 2026

−0.1%SPIP+0.2%VTP

Oct 31, 2025 to Oct 30, 2026. SPIP −0.1%. VTP +0.2%. Use the arrow keys to read each point.−2%−1%1%Oct 2025Apr 2026Oct 2026
Expense ratio
SPIP 0.12%
VTP 0.05%, better
Fund size
SPIP $1.07B
VTP $251M
1Y total return
SPIP −0.1%
VTP +0.2%, better
Yield (12M)
SPIP 5.40%, better
VTP 3.74%
Holdings
SPIP 51
VTP 51
Avg volume (30D)
SPIP 487K sh, better
VTP 63.4K sh
NAV per share
SPIP $24.93
VTP $74.00
52W range

ETF.net Grade

SPIP: Cost 43, Risk 31, Mission 100, Tradability 83, Holdings 93, Durability 78. VTP: Cost 93, Risk 37, Mission 100, Tradability 51, Holdings 79, Durability 67.
Pillar letters and Scores for SPIP, VTP, with each pillar’s weight
PillarSPIPVTP
Cost30% weightC43A93Higher
Mission25% weightA100A100
Risk15% weightD31D37Higher
Tradability15% weightA83HigherC51
Holdings10% weightA93HigherA79
Durability5% weightA78HigherB67

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. SPIP 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 SPIP 6th 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
  7. Rank 7BTIPBNorthern Trust 2035 Inflation-Linked Distributing Ladder ETFScore 67

Our read on each fund

ETF.net Research

SPIPBState Street SPDR Portfolio TIPS ETF

VTPAVanguard Total Inflation-Protected Securities ETF

In short

SPIP SPIP owns the whole U.S. TIPS curve in one wrapper: government bonds built to move with inflation, roughly 60 of them, for 0.12% a year. A 2007-vintage, no-gimmick way to rent the real-yield side of Treasuries.

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

SPIP The fund seeks to track the price and yield performance of the Bloomberg U.S. Government Inflation-Linked Bond Index before fees and expenses, providing exposure to U.S. Treasury inflation-protected securities.

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

  • SPIP Sticks close to its benchmark, the Bloomberg U.S. Government Inflation-Linked Bond Index, and rates as one of the tighter index fits in its broad Treasury peer group.
  • Full-curve exposure: short, intermediate and long inflation-protected Treasuries in one ticket, so you skip the maturity-picking.
  • 0.12% a year lands right at the median fee for broad Treasury ETFs, on a billion-dollar-plus fund that sees steady everyday volume.
  • Trading since 2007, giving it a long live record across both the dead-quiet inflation years and the loud ones.
  • 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

  • SPIP Cheaper versions of the same broad idea exist. VTP charges 0.05%, so SPIP's 0.12% is a real premium for inflation-linked Treasuries.
  • Holding long-dated TIPS means real-rate moves push the price around. Inflation protection is not the same thing as price stability.
  • Payouts are irregular by design, because inflation accruals on TIPS arrive unevenly. Not a metronome-steady income stream.
  • 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 SPIP profile⁠

Full VTP profile⁠

SPIP 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.

SPIP vs VTP Cost

Overpaying SPIP vs VTP

$1,460

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

  • SPIP 0.12%

    $2,520

  • VTP 0.05%

    $1,060

$10,000
30 years

Cost over time

  • SPIP 0.12%
  • VTP 0.05%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$1K$2K$3K051015202530SPIP $2,520VTP $1,060

Year by year

YearSPIPVTPOverpaying
10$220$92$128
20$859$360$499
30$2,520$1,060$1,460

Expense ratio

  • 0.12%SPIP
  • 0.05%VTP, cheaper
  • Middle half of TIPS funds
  • Median 0.10%

VTP 4th cheapest of 40 funds

SPIP 23rd cheapest of 40 funds

SPIP vs VTP Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
SPIP 5.40%, better
VTP 3.74%
Payout (12M)
SPIP $1.35
VTP $2.77
Last payment
SPIP $0.02
VTP $0.99
Ex-dividend
SPIP Oct 1, 2026
VTP Oct 1, 2026
Paid on
SPIP Oct 6, 2026
VTP Oct 5, 2026
Frequency
SPIP Irregular
VTP Quarterly

Distribution history

Per share, 2023 to 2026, same scale for both

SPIPIrregular · 37 paymentsAll SPIP payments⁠
One bar per payment. 37 payments from 2023 to 2026 YTD. Apr 3, 2023 $0.23; May 1, 2023 $0.14; Jun 1, 2023 $0.08; Jul 3, 2023 $0.13; Aug 1, 2023 $0.06; Sep 1, 2023 $0.08; Oct 2, 2023 $0.04; Nov 1, 2023 $0.11; Dec 1, 2023 $0.07; Apr 1, 2024 $0.14; May 1, 2024 $0.17; Jun 3, 2024 $0.18; Jul 1, 2024 $0.13; Aug 1, 2024 $0.05; Sep 3, 2024 $0.02; Oct 1, 2024 $0.04; Nov 1, 2024 $0.03; Dec 2, 2024 $0.05; Dec 19, 2024 $0.04; Mar 3, 2025 $0.02; Apr 1, 2025 $0.19; May 1, 2025 $0.14; Jun 2, 2025 $0.08; Jul 1, 2025 $0.10; Aug 1, 2025 $0.08; Sep 2, 2025 $0.11; Oct 1, 2025 $0.06; Nov 3, 2025 $0.10; Dec 1, 2025 $0.09; Dec 18, 2025 $0.10; Mar 2, 2026 $0.01; Apr 1, 2026 $0.12; May 1, 2026 $0.15; Jun 1, 2026 $0.30; Jul 1, 2026 $0.26; Aug 3, 2026 $0.20; Oct 1, 2026 $0.02. Use the arrow keys to read each point.$0$120232026YTD
VTPQuarterly · 5 paymentsAll VTP payments⁠
One bar per payment. 5 payments from 2023 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$120232026YTD

SPIP vs VTP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
SPIP 4.5%VTP 4.3%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
SPIP 0.06VTP −0.42since Aug 2025
Worst fallMax drawdown, 5 years
SPIP −15.4%VTP −4.0%since Jul 2025
Market sensitivityBeta, 5 years
SPIP 0.73VTP 0.14

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