Vanguard Inflation-Protected Securities Fund Investor Shares
VIPSX
NASDAQ- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 100 Vanguard Boulevard Malvern PA United States of America 19355
- IPO Date
- Jun 29, 2000
- CIK
- 0000794105
- Website
- investor.vanguard.com
- Similar Companies
- Business
- Vanguard Inflation-Protected Securities Fund (VIPSX) seeks to provide inflation protection and income consistent with investment in inflation-indexed securities, primarily by investing at least 80% of its assets in inflation-indexed bonds issued by the U.S. government, its agencies, and instrumentalities; it maintains a portfolio concentrated almost exclusively (typically more than 90%) in U.S. Treasury Inflation-Protected Securities (TIPS), with small positions (less than 5%) in nominal Treasuries for liquidity and, since 2024, Consumer Price Index (CPI) swaps to enhance flexibility in expressing inflation market views; the fund tracks the Bloomberg U.S. Treasury Inflation-Protected Securities Index closely through modest duration and yield-curve adjustments, data-driven trading strategies capturing relative value in new-issue and secondary markets, and in-house inflation models, while adhering to strict internal guidelines limiting non-TIPS investments despite prospectus flexibility up to 20%. Launched with performance measurement beginning June 29, 2000, following a subscription period from June 5, 2000, the fund is managed by The Vanguard Group, Inc., headquartered in Malvern, Pennsylvania, and operates within the inflation-protected bond category serving individual and institutional investors seeking real return strategies. In recent years, Vanguard appointed John Madziyire as lead portfolio manager at the end of 2021 (effective November 2021) following the retirement of longtime manager Gemma Wright-Casparius, leveraging his two decades of fixed-income experience from prior roles at Vanguard and AXA Investment Managers; the firm expanded the fund's investment toolkit in 2024 by incorporating inflation swaps to exploit disparities between CPI swap breakevens and TIPS breakevens; as of September 2025, the portfolio allocated 96.3% to U.S. TIPS with a 6.5-year duration matching the benchmark, neutral yield-curve positioning (adjusted from earlier 2025 expectations of steepening), total assets of approximately $27.9 billion, and an adjusted expense ratio of 0.20%.