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VTIP vs VTP

Vanguard Short-Term Inflation-Protected Securities ETF

VTIPANasdaq

Vanguard Total Inflation-Protected Securities ETF

VTPANYSE Arca

Overlap

No data

Expense ratio

VTIP −0.02pt a year

VTIP0.03%VTP0.05%

Avg volume · 30D

VTIP 43.7×the volume

VTIP2.77MVTP63.4K

VTIP vs VTP Performance

Oct 31, 2025 – Oct 30, 2026

+2.7%VTIP+0.2%VTP

Oct 31, 2025 to Oct 30, 2026. VTIP +2.7%. VTP +0.2%. Use the arrow keys to read each point.−2%−1%1%2%Oct 2025Apr 2026Oct 2026
Expense ratio
VTIP 0.03%, better
VTP 0.05%
Fund size
VTIP $73.1B
VTP $251M
1Y total return
VTIP +2.7%, better
VTP +0.2%
Yield (12M)
VTIP 4.79%, better
VTP 3.74%
Holdings
VTIP 27
VTP 51
Avg volume (30D)
VTIP 2.77M sh, better
VTP 63.4K sh
NAV per share
VTIP $48.95
VTP $74.00
52W range

ETF.net Grade

VTIP: Cost 98, Risk 57, Mission 43, Tradability 82, Holdings 68, Durability 96. VTP: Cost 93, Risk 37, Mission 100, Tradability 51, Holdings 79, Durability 67.
Pillar letters and Scores for VTIP, VTP, with each pillar’s weight
PillarVTIPVTP
Cost30% weightA98HigherA93
Mission25% weightC43A100Higher
Risk15% weightB57HigherD37
Tradability15% weightA82HigherC51
Holdings10% weightB68A79Higher
Durability5% weightA96HigherB67

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. VTIP 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 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

VTIPAVanguard Short-Term Inflation-Protected Securities ETF

VTPAVanguard Total Inflation-Protected Securities ETF

In short

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.

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

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

  • 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.
  • 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

  • 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.
  • 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 VTIP profile⁠

Full VTP profile⁠

VTIP vs VTP Holdings

How VTIP and VTP differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

  • Asset classFixed Income100%
  • Countryby domicile100%

Sector

No Sector split for VTP.

Country, concentration and asset class

Country by domicile

Country weights in VTIP and VTP, widest gap first
CountryMore in VTIPMore in VTP
United StatesSame weight

Concentration

Weight in the 10 largest Holdings

  • VTIP50.0%
  • VTP35.6%

Securities held

  • VTIP25
  • VTP48

Asset class

VTIP
Fixed Income
VTP
Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. VTIP holds 25 securities, VTP 48.

All 21 VTIP holdings⁠All 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.

VTIP vs VTP Cost

Overpaying VTP vs VTIP

$422

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

  • VTIP 0.03%

    $638

  • VTP 0.05%

    $1,060

$10,000
30 years

Cost over time

  • VTIP 0.03%
  • VTP 0.05%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$250$500$750$1K$1.25K051015202530VTP $1,060VTIP $638

Year by year

YearVTIPVTPOverpaying
10$55$92$37
20$216$360$144
30$638$1,060$422

Expense ratio

  • 0.03%VTIP, cheaper
  • 0.05%VTP
  • Middle half of TIPS funds
  • Median 0.10%

VTIP cheapest of 40 funds

VTP 4th cheapest of 40 funds

VTIP vs VTP Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
VTIP 4.79%, better
VTP 3.74%
Payout (12M)
VTIP $2.35
VTP $2.77
Last payment
VTIP $0.93
VTP $0.99
Ex-dividend
VTIP Oct 1, 2026
VTP Oct 1, 2026
Paid on
VTIP Oct 5, 2026
VTP Oct 5, 2026
Frequency
VTIP Quarterly
VTP Quarterly

Distribution history

Per share, 2017 to 2026, same scale for both

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
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

VTIP vs VTP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
VTIP 1.9%VTP 4.3%since Aug 2025
Return per unit of riskSharpe ratio, 3 years
VTIP 0.29VTP −0.42since Aug 2025
Worst fallMax drawdown, 5 years
VTIP −5.5%VTP −4.0%since Jul 2025
Market sensitivityBeta, 5 years
VTIP 0.21VTP 0.14

VTIP and VTP in the news

All news⁠

Popular comparisons

  • VTIPAvsSCHPA

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

    Expense ratio
    0.03% · 0.03%
    Category
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  • VTPAvsSCHPA

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