VTIP vs SPY

Comparison between VANGUARD SHORT-TERM INFLATION-PROTECTED SECURITIES INDEX FUND ETF SHARES (VTIP, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).

5-Year PerformanceSPY has outperformed VTIP, delivering a return of +13.3% compared to +3.4%

VTIP vs SPY - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	VTIP(ETF)	SPY(ETF)
Net Assets	$66B	$652B
Expense Ratio	0.03%	0.09%
Max Drawdown	11.70%	56.47%
Sharpe Ratio	0.44	2.07
5Y Beta	-0.01	1.00
P/E Ratio	N/A	28.24
Forward P/E	N/A	21.85
5Y Dividends CAGR	21.95%	5.43%
5Y EPS CAGR	N/A	25.79%
Debt to Equity	N/A	22.35%
P/S Ratio	N/A	3.55
P/B Ratio	N/A	5.29

Net Assets

VTIP

$66B

Winner

SPY

$652B

Expense Ratio

Winner

VTIP

0.03%

SPY

0.09%

Max Drawdown

Winner

VTIP

11.70%

SPY

56.47%

Sharpe Ratio

VTIP

0.44

Winner

SPY

2.07

5Y Beta

Winner

VTIP

-0.01

SPY

1.00

P/E Ratio

VTIP

N/A

SPY

28.24

Forward P/E

VTIP

N/A

SPY

21.85

5Y Dividends CAGR

Winner

VTIP

21.95%

SPY

5.43%

5Y EPS CAGR

VTIP

N/A

SPY

25.79%

Debt to Equity

VTIP

N/A

SPY

22.35%

P/S Ratio

VTIP

N/A

SPY

3.55

P/B Ratio

VTIP

N/A

SPY

5.29

VTIP vs SPY - Historical Returns

Returns include dividend reinvestment.

Period	VTIP	SPY
1 month	+0.80%	+9.11%
3 months	+1.39%	+6.59%
6 months	+2.17%	+10.56%
1 year	+4.53%	+32.04%
5 years(CAGR)	+3.40%	+13.35%
10 years(CAGR)	+3.15%	+15.49%
Max(CAGR)	+2.27%	+8.50%

VTIP

+0.80%

Winner

SPY

+9.11%

VTIP

+1.39%

Winner

SPY

+6.59%

VTIP

+2.17%

Winner

SPY

+10.56%

VTIP

+4.53%

Winner

SPY

+32.04%

5Y(CAGR)

VTIP

+3.40%

Winner

SPY

+13.35%

10Y(CAGR)

VTIP

+3.15%

Winner

SPY

+15.49%

Max(CAGR)

VTIP

+2.27%

Winner

SPY

+8.50%

VTIP vs SPY - Annual Returns (1999 - 2026)

Returns include dividend reinvestment.

Year	VTIP	SPY
2026	+1.97%	+8.27%
2025	+6.00%	+18.00%
2024	+4.85%	+25.59%
2023	+4.64%	+26.72%
2022	-2.90%	-18.64%
2021	+5.34%	+30.52%
2020	+4.88%	+17.28%
2019	+4.88%	+31.09%
2018	+0.64%	-5.24%
2017	+0.82%	+20.78%
2016	+2.64%	+13.59%
2015	+0.04%	+1.31%
2014	-1.47%	+14.56%
2013	-1.47%	+29.00%
2012	+0.57%	+14.17%
2011	N/A	+0.85%
2010	N/A	+13.14%
2009	N/A	+22.67%
2008	N/A	-36.25%
2007	N/A	+5.32%
2006	N/A	+13.85%
2005	N/A	+5.32%
2004	N/A	+10.75%
2003	N/A	+24.18%
2002	N/A	-22.42%
2001	N/A	-10.13%
2000	N/A	-8.84%
1999	N/A	+8.61%

VTIP vs SPY Drawdown Comparison

The maximum drawdown for VTIP was -6.27%, occurring on Mar 18, 2020. Recovery took 65 trading sessions.

The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.

The current VTIP drawdown is -0.06%.

Rank	VTIP	SPY
#1	-6.27% Mar 5, 2020 - Jun 8, 2020	-55.20% Oct 9, 2007 - Aug 16, 2012
#2	-5.51% Mar 11, 2022 - Dec 14, 2023	-47.50% Mar 24, 2000 - Oct 26, 2006
#3	-3.68% Mar 15, 2013 - Apr 3, 2017	-33.70% Feb 19, 2020 - Aug 10, 2020
#4	-2.02% Nov 17, 2021 - Mar 1, 2022	-24.50% Jan 3, 2022 - Dec 13, 2023
#5	-0.98% Apr 3, 2025 - Apr 28, 2025	-19.34% Sep 20, 2018 - Apr 12, 2019
#6	-0.96% Apr 30, 2025 - Jun 26, 2025	-18.76% Feb 19, 2025 - Jun 26, 2025
#7	-0.91% Apr 13, 2017 - Sep 7, 2017	-13.02% Jul 20, 2015 - Apr 18, 2016
#8	-0.89% Aug 24, 2018 - Jan 30, 2019	-10.10% Jan 26, 2018 - Aug 6, 2018
#9	-0.79% Sep 8, 2017 - Apr 11, 2018	-9.44% Sep 2, 2020 - Nov 11, 2020
#10	-0.75% Oct 2, 2024 - Jan 15, 2025	-9.30% Jan 19, 2000 - Mar 17, 2000
#11	-0.70% Mar 17, 2026 - Apr 13, 2026	-9.05% Jul 19, 2007 - Oct 5, 2007
#12	-0.69% Jan 31, 2024 - Mar 1, 2024	-8.88% Jan 27, 2026 - Apr 14, 2026
#13	-0.65% Jul 30, 2021 - Aug 27, 2021	-8.41% Jul 16, 2024 - Sep 19, 2024
#14	-0.63% May 17, 2021 - Jul 2, 2021	-7.35% Sep 14, 2012 - Jan 2, 2013
#15	-0.60% Feb 12, 2021 - Mar 2, 2021	-7.27% Sep 18, 2014 - Oct 31, 2014

Correlation

Correlation between VTIP and SPY is 0.98 which considered as a very strong positive correlation - the stocks move almost identically together.

0.98

-101

Dividend Comparison (1999 - 2026)

VTIP vs SPY dividend yield comparison.

Year	VTIP	SPY
2026	0.05%	0.24%
2025	3.81%	1.07%
2024	2.70%	1.21%
2023	2.86%	1.40%
2022	6.84%	1.65%
2021	4.68%	1.20%
2020	1.20%	1.52%
2019	1.95%	1.75%
2018	2.45%	2.04%
2017	1.52%	1.80%
2016	0.76%	2.03%
2015	0.00%	2.06%
2014	0.82%	1.87%
2013	0.05%	1.81%
2012	0.10%	2.18%
2011	0.00%	2.05%
2010	0.00%	1.80%
2009	0.00%	1.95%
2008	0.00%	3.02%
2007	0.00%	1.85%
2006	0.00%	1.73%
2005	0.00%	1.73%
2004	0.00%	1.82%
2003	0.00%	1.47%
2002	0.00%	1.70%
2001	0.00%	1.25%
2000	0.00%	1.15%
1999	0.00%	0.24%