VANGUARD INFLATION-PROTECTED SECURITIES FUND
VANGUARD BOND INDEX FUNDS · Series S000019554 · 3 share classes
data updated 2026-08-10
Fund profile
As filed in the prospectus · 2026 Q2
Vanguard Inflation-Protected Securities Fund (the Fund) seeks to provide inflation protection and income consistent with investment in inflation-indexed securities.
The fund actively manages a portfolio of investment-grade inflation-indexed bonds, primarily U.S. Treasury inflation-protected securities (TIPS), with principal and interest payments adjusted for changes in the Consumer Price Index. The fund maintains a dollar-weighted average maturity between 7 and 20 years and may use derivatives including futures, swaps, and options to implement its strategy. Because security selection depends on the manager's active choices, fund performance will diverge from any inflation-indexed benchmark.
| Share class | Expense ratio |
|---|---|
| VIPSX | 0.20% |
| VAIPX | 0.10% |
| VIPIX | 0.07% |
Portfolio turnover 60.00% · as of 2026 Q2
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q1
| Bonds | 98.60% |
| Cash & short-term | 0.96% |
| Derivatives | 0.01% |
Derivatives are shown at market value, not notional exposure.
Latest quarter
What changed since the fund's previous filing
Largest new: United States Treasury Note/Bond ×6, United States Treasury Inflation Indexed Bonds ×2
Largest exited: United States Treasury Inflation Indexed Bonds
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Feb 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| — | — | — | — | — | |
| — | — | — | — | — | |
| — | — | — | — | — |
Mar 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-03-31
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.0% |
| 1-3y | 25.2% |
| 3-5y | 25.0% |
| 5-10y | 35.6% |
| 10y+ | 14.1% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q1
This fund filed the credit-spread disclosure and reported no sensitivity — measured, and the answer is none.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 100% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 1 yr | 0.50 yr | 9% |
| 5 yr | 1.77 yr | 33% |
| 10 yr | 1.93 yr | 36% |
| 30 yr | 1.16 yr | 22% |
3 mo is NEGATIVE (-0.02 yr) — a deliberate hedge at that point on the curve, so it is not part of the band above.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | -0.02 | +0.00 | +0.00 | $0 | $0 |
| 1 yr | +0.50 | +0.00 | +0.00 | $0 | $0 |
| 5 yr | +1.77 | +0.00 | +0.00 | $0 | $0 |
| 10 yr | +1.93 | +0.00 | +0.00 | $0 | $0 |
| 30 yr | +1.16 | +0.00 | +0.00 | $0 | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | United States Treasury Inflation Indexed Bonds2.13% · due 2035-01-15 | 3.93% | $1.10B | — |
| — | United States Treasury Inflation Indexed Bonds1.88% · due 2034-07-15 | 3.69% | $1.03B | — |
| — | United States Treasury Inflation Indexed Bonds1.75% · due 2034-01-15 | 3.52% | $982.87M | — |
| — | United States Treasury Inflation Indexed Bonds1.38% · due 2033-07-15 | 3.29% | $918.42M | — |
| — | United States Treasury Inflation Indexed Bonds1.13% · due 2033-01-15 | 3.29% | $916.22M | — |
| — | United States Treasury Inflation Indexed Bonds0.63% · due 2032-07-15 | 3.28% | $913.88M | — |
| — | United States Treasury Inflation Indexed Bonds2.13% · due 2029-04-15 | 3.24% | $902.16M | — |
| — | United States Treasury Inflation Indexed Bonds1.63% · due 2030-04-15 | 3.23% | $901.45M | — |
| — | United States Treasury Inflation Indexed Bonds1.63% · due 2029-10-15 | 3.17% | $884.06M | — |
| — | United States Treasury Inflation Indexed Bonds2.38% · due 2028-10-15 | 3.12% | $869.40M | — |
Top 10 positions are 33.76% of net assets, top 25 72.53%, across 4 issuers.
See more of this fund's book
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