VTIP vs TIP: Holdings Overlap
VTIPVanguard Short-term Inflation-protected Securities Index Fund
Vanguard · 25 holdings · $19.9B · as of 2026-03-31
iShares · 48 holdings · $14.7B · as of 2026-04-30
Holdings snapshots are 30 days apart (VTIP: 2026-03-31, TIP: 2026-04-30). Weights and index membership change between snapshots, so the true current overlap is typically higher than shown. For funds tracking the same index, the gap can be 5–15 points.
How similar are VTIP and TIP?
Vanguard Short-term Inflation-protected Securities Index Fund (VTIP, by Vanguard) holds 25 positions; iShares TIPS Bond ETF (TIP, by iShares) holds 48. They have 20 holdings in common, and by portfolio weight the two funds are 50.5% identical. In practical terms the pair is moderately overlapping; they share a meaningful core, but each fund adds distinct exposure.
- Overlap by Weight
- 50.5%Sum of the smaller weight of each shared holding
- Shared Holdings
- 20VTIP holds 25 · TIP holds 48
- Weight in Shared Holdings
- VTIP 81%·TIP 51%Share of each fund's weight in stocks both funds own
Based on each fund's latest official holdings. How is this calculated?
What makes each fund different
Only in VTIP
5 of 25 positions (18.1% of the fund) are not held by TIP.
- U.S. Treasury Inflation Linked Notes4.75%
- U.S. Treasury Inflation Linked Notes4.23%
- U.S. Treasury Inflation Linked Notes3.81%
- U.S. Treasury Inflation Linked Notes3.37%
- U.S. Treasury Inflation Linked Bonds1.95%
Only in TIP
28 of 48 positions (49.0% of the fund) are not held by VTIP.
- U.S. Treasury Inflation Linked Notes4.08%
- U.S. Treasury Inflation Linked Notes4.02%
- U.S. Treasury Inflation Linked Notes3.78%
- U.S. Treasury Inflation Linked Notes3.61%
- U.S. Treasury Inflation Linked Notes3.37%
- U.S. Treasury Inflation Linked Notes3.35%
Performance
| Fund | 1M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) | 10Y (ann.) | Yield |
|---|---|---|---|---|---|---|---|
| VTIP | +0.1% | +1.9% | +3.0% | +5.0% | +3.1% | +3.1% | 4.15% |
| TIP | -0.3% | +0.8% | +1.8% | +3.7% | +0.3% | +2.4% | 4.97% |
Total returns including dividends, from adjusted daily closes as of 2026-08-07. 3Y/5Y/10Y are annualized. Yield is trailing-12-month distributions over the last close. Past performance does not predict future results.
Project the growth of $10,000 in VTIP vs TIP →
Shared Holdings(20)
The top 10 shared positions account for 62% of the overlap, led by U.S. Treasury Inflation Linked Notes, U.S. Treasury Inflation Linked Notes and U.S. Treasury Inflation Linked Notes.
| U.S. Treasury Inflation Linked Notes | 5.49% | 3.42% | 3.42% |
|---|---|---|---|
| U.S. Treasury Inflation Linked Notes | 5.46% | 3.39% | 3.39% |
| U.S. Treasury Inflation Linked Notes | 5.29% | 3.29% | 3.29% |
| U.S. Treasury Inflation Linked Notes | 5.11% | 3.17% | 3.17% |
| U.S. Treasury Inflation Linked Notes | 5.09% | 3.15% | 3.15% |
| U.S. Treasury Inflation Linked Notes | 4.91% | 3.04% | 3.04% |
| U.S. Treasury Inflation Linked Notes | 4.79% | 2.97% | 2.97% |
| U.S. Treasury Inflation Linked Notes | 4.80% | 2.95% | 2.95% |
| U.S. Treasury Inflation Linked Notes | 4.66% | 2.90% | 2.90% |
| U.S. Treasury Inflation Linked Notes | 4.54% | 2.83% | 2.83% |
| U.S. Treasury Inflation Linked Notes | 4.33% | 2.68% | 2.68% |
| U.S. Treasury Inflation Linked Notes | 4.26% | 2.62% | 2.62% |
| U.S. Treasury Inflation Linked Notes | 4.17% | 2.60% | 2.60% |
| U.S. Treasury Inflation Linked Notes | 3.77% | 2.34% | 2.34% |
| U.S. Treasury Inflation Linked Notes | 3.76% | 2.34% | 2.34% |
| U.S. Treasury Inflation Linked Notes | 3.25% | 2.02% | 2.02% |
| U.S. Treasury Inflation Linked Bonds | 2.28% | 1.41% | 1.41% |
| U.S. Treasury Inflation Linked Bonds | 1.94% | 1.20% | 1.20% |
| U.S. Treasury Inflation Linked Bonds | 1.82% | 1.13% | 1.13% |
| U.S. Treasury Inflation Linked Bonds | 1.74% | 1.07% | 1.07% |
Frequently Asked Questions
How much do VTIP and TIP overlap?
VTIP and TIP overlap by 50.5% of portfolio weight. They share 20 holdings (VTIP holds 25 positions and TIP holds 48), based on each fund's latest SEC-reported holdings.
Is it redundant to own both VTIP and TIP?
The two portfolios are 50.5% identical by weight. Owning both is defensible: they share a meaningful core, but each fund adds exposure the other lacks.
What are the biggest shared holdings of VTIP and TIP?
The largest positions held by both funds are U.S. Treasury Inflation Linked Notes, U.S. Treasury Inflation Linked Notes, U.S. Treasury Inflation Linked Notes, U.S. Treasury Inflation Linked Notes and U.S. Treasury Inflation Linked Notes. Together the top 10 shared positions account for 62% of the total overlap.
What does VTIP own that TIP doesn't?
5 positions (18.1% of VTIP) are unique to VTIP, led by U.S. Treasury Inflation Linked Notes, U.S. Treasury Inflation Linked Notes and U.S. Treasury Inflation Linked Notes. In the other direction, 28 positions (49.0% of TIP) are unique to TIP.