Vanguard Short-Term Inflation-Protected… (VTIP) Performance
VTIP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +2.1% since Dec 31, 2025
- 1 year
- +2.0% total return
- 5 years
- +3.1% a year
- 10 years
- +3.1% a year
- Since first price
- +2.2% a year since 2012
VTIP trailing returns vs AGG, TLT, SPY
| Period | VTIP total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.1% | −0.8% | +0.9% | +1.5% | −1.0% |
| 3 months | +0.4% | −1.5% | −0.4% | −1.0% | +3.2% |
| 6 months | +0.4% | −2.8% | −1.5% | −3.8% | +7.8% |
| YTD | +2.1% | −1.3% | −1.0% | −3.4% | +12.3% |
| 1 year | +2.0% | −2.7% | −1.1% | −6.9% | +14.4% |
| 3 years | +16.5%+5.2%/yr | +3.7% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| 5 years | +16.4%+3.1%/yr | −6.2% | −0.8%−0.2%/yr | −32.5%−7.6%/yr | +79.3%+12.4%/yr |
| 10 years | +35.6%+3.1%/yr | −1.8% | +14.0%+1.3%/yr | −18.7%−2.0%/yr | +315.9%+15.3%/yr |
| Since inceptionOct 16, 2012 | +36.4%+2.2%/yr | −2.1% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: VTIP vs AGG
From Oct 16, 2012: VTIP grew to $13,636, AGG to $12,545.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
VTIP returns by calendar year
10 of 13 full years positive. Best 2025 (+6.1%), worst 2022 (−2.9%). 2026 is year to date.
VTIP annual returns table
| Year | VTIP | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | +2.1% | −1.4% | −1.0% | −3.4% | +12.3% |
| 2025 | +6.1% | −1.0% | +7.2% | +4.3% | +17.7% |
| 2024 | +4.7% | −0.8% | +1.3% | −8.1% | +24.9% |
| 2023 | +5.1% | −1.6% | +5.7% | +2.8% | +26.2% |
| 2022 | −2.9% | −5.5% | −13.0% | −31.2% | −18.2% |
| 2021 | +5.4% | −1.2% | −1.8% | −4.6% | +28.7% |
| 2020 | +4.9% | −6.3% | +7.5% | +18.2% | +18.3% |
| 2019 | +4.9% | −0.5% | +8.5% | +14.1% | +31.2% |
| 2018 | +0.6% | −0.9% | +0.1% | −1.6% | −4.6% |
| 2017 | +0.8% | −0.9% | +3.6% | +9.2% | +21.7% |
| 2016 | +2.5% | −1.1% | +2.4% | +1.2% | +12.0% |
| 2015 | +0.2% | −1.5% | +0.5% | −1.8% | +1.2% |
| 2014 | −1.4% | −3.2% | +6.0% | +27.3% | +13.5% |
| 2013 | −1.5% | −3.3% | −2.0% | −13.4% | +32.3% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
VTIP largest drawdowns
Now 0.2% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Mar 5, 2020 | −6.3% | Mar 18, 2020 | Jun 5, 2020 | 13 days | 3 months |
| Mar 11, 2022 | −5.5% | Sep 30, 2022 | Dec 13, 2023 | 7 months | 1.8 years |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
VTIP risk statistics
| Statistic | 3 years | 5 years | 10 years | Since 2012 |
|---|---|---|---|---|
| Annualized return | +4.9% | +3.0% | +3.0% | +2.2% |
| Volatility (annualized) | 1.9% | 2.9% | 2.4% | 2.3% |
| Sharpe ratio | 0.26 | -0.21 | 0.29 | 0.24 |
| Sortino ratio | 0.38 | -0.27 | 0.40 | 0.34 |
| Best month | +1.6% | +2.0% | +2.0% | +2.0% |
| Worst month | −0.9% | −2.9% | −2.9% | −2.9% |
| Best 12 months | +8.1% | +8.1% | +8.1% | +8.1% |
| Worst 12 months | +1.3% | −3.0% | −3.0% | −3.0% |
| Positive months | 78% | 68% | 68% | 63% |
| Beta vs S&P 500 | 0.04 | 0.10 | 0.08 | — |
| Correlation with S&P 500 | 0.23 | 0.55 | 0.53 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
VTIP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 157 | −3.0% | +2.2% | +8.1% | 77% |
| 3-year (a year) | 133 | −0.9% | +2.3% | +5.6% | 93% |
| 5-year (a year) | 109 | −0.0% | +2.8% | +4.3% | 99% |
| 10-year (a year) | 49 | +1.3% | +2.4% | +3.2% | 100% |
Every holding period starting at a month-end since 2012. Returns for 3 years and longer are annualized.
VTIP performance overview
Vanguard Short-Term Inflation-Protected… (VTIP) returned +2.0% over the past year and +3.1% a year over ten years, with distributions reinvested. Since its first recorded price in 2012 it has returned +2.2% a year, turning $10,000 into about $13,636. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −6.3%, from Mar 5, 2020 to Mar 18, 2020, and it took 3 months to get back to the old high. VTIP finished 10 of its 13 full calendar years with a gain; the best year was 2025 (+6.1%) and the worst 2022 (−2.9%). Volatility has been 2.3% a year.
Related: VTIP chart, VTIP dividends, VTIP bond profile. See the VTIP overview for the latest quote and fund facts.
VTIP performance FAQ
What is the VTIP return over the past year?
VTIP returned +2.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 2.7%.
What is the average annual return of VTIP?
VTIP has returned +3.1% a year over 5 years, +3.1% a year over 10 years, +2.2% a year since October 16, 2012 (total return, distributions reinvested).
How much would $10,000 invested in VTIP be worth?
$10,000 invested in VTIP at its first recorded close on October 16, 2012 would be worth about $13,636 on October 23, 2026 with distributions reinvested.
What was the worst year for VTIP?
The worst calendar year was 2022, with a total return of −2.9%. The best was 2025 at +6.1%.
What is the biggest drawdown of VTIP?
The largest peak-to-trough decline was −6.3% between March 5, 2020 and March 18, 2020. It recovered to the old high on June 5, 2020, 3 months after the bottom.
How volatile is VTIP?
Over the past 3 years VTIP had an annualized volatility of 1.9% and a Sharpe ratio of 0.26 (excess return over 1–3 month T-bills per unit of risk).