FPASvsVTIPETF Comparison
VS
ETF 2
VTIP
Vanguard Short-Term Inflation-Protected Securities ETF
This fund is part of
Inflation-linked Bonds
-0.18%
FPA Short Duration Government ETF (FPAS) belongs to the US Aggregate Bonds segment. Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) is part of the Inflation-linked Bonds segment. Both ETFs have the same top 1 sector exposures: Sovereign. FPAS is more expensive with a Total Expense Ratio (TER) of 8.9%, versus 0.03% for VTIP. FPAS is down -1.99% year-to-date (YTD) with +$12M in YTD flows. VTIP performs better with 1.68% YTD performance, and +$3.95B in YTD flows. Run a side-by-side ETF comparison of FPAS and VTIP below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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FPAS vs VTIP performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | FPAS VTIP | +0.45%+0.50% | -1.41%-0.17% | -1.99%+1.68% | -1.93%+1.75% | n/a+15.60% | n/a+15.82% |
| Flows | FPAS VTIP | +$2M+$441M | +$5M+$1.91B | +$12M+$3.95B | +$12M+$5.15B | -+$7.19B | -+$5.13B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | FPAS VTIP | +3.49%+1.75% | +3.17%+1.61% | n/a+1.86% | n/a+2.69% |
| Max drawdown | FPAS VTIP | -2.71%-1.32% | -4.18%-1.32% | n/a-1.32% | n/a-5.32% |
| Max drawdown duration | FPAS VTIP | 52d55d | 229d55d | n/a55d | n/a638d |
Trading data
FPAS | VTIP | |
Last sale 10/19/2026 at 1:30 PM | $23.97 | $48.64 |
| Previous close 10/19/2026 | $23.97 | $48.68 |
| Consolidated volume 10/19/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of September 30, 2026
1-year trailing difference
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FPAS
is actively managed and doesn’t replicate an indexFPAS | VTIP | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/19/2026 at 1:30 PM
Live
Closed
FPAS | VTIP | |
|---|---|---|
| Last price | $23.97 | $48.64 |
| 1D performance | +0.00% | -0.08% |
| AuM | $15.59 M | $20.91 B |
| E/R | 8.9% | 0.03% |
Characteristics
FPAS | VTIP | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | First Pacific Advisors | Vanguard |
| Benchmark | - | Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index |
| N° of holdings | 3 | 25 |
| Asset class | - | Bonds |
| Trailing 12m distribution yield | Join | Join |
| Inception date | October 31, 2024 | October 12, 2012 |
| ESG | No | No |
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Exposure
Countries
FPAS
USA
97.99%
Other
2.01%
VTIP
USA
99.93%
Other
0.07%
Sectors
FPAS
Sovereign
97.99%
Other
2.01%
VTIP
Sovereign
99.93%
Other
0.07%
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Diversification
FPAS
Total weight of top 3 holdings out of 3
97.99%
VTIP
Total weight of top 15 holdings out of 15
72.01%
Top 15 holdings
Data as of August 31, 2026
FPAS
USA, Notes 4.125% 30jun2031, USD (AA-2031)
57.93%
USA, Notes 4.125% 31may2031, USD (Z-2031)
22.29%
USA, Notes 4.375% 31jul2031, USD (AB-2031)
17.77%
VTIP
USA, TIPS 1.125% 15oct2030, USD (AE-2030)
5.35%
USA, TIPS 1.25% 15apr2031, USD (X-2031)
5.30%
USA, TIPS 1.625% 15apr2030, USD (X-2030)
5.26%
USA, TIPS 1.625% 15oct2029, USD (AE-2029)
5.17%
USA, TIPS 2.125% 15apr2029, USD (X-2029)
4.98%
USA, TIPS 2.375% 15oct2028, USD (AE-2028)
4.96%
USA, TIPS 1.625% 15oct2027, USD (AE-2027)
4.83%
USA, TIPS 0.125% 15apr2027, USD (X-2027)
4.77%
USA, TIPS 1.25% 15apr2028, USD (X-2028)
4.70%
USA, TIPS 0.125% 15oct2026, USD (AE-2026)
4.68%
USA, TIPS 0.125% 15jul2031, USD (D-2031)
4.57%
USA, TIPS 0.125% 15jan2031, USD (A-2031)
4.56%
USA, TIPS 0.125% 15jul2030, USD (D-2030)
4.40%
USA, TIPS 0.5% 15jan2028, USD (A-2028)
4.27%
USA, TIPS 0.375% 15jul2027, USD (D-2027)
4.21%
Frequently asked questions about FPAS and VTIP
How have the FPAS and VTIP ETFs performed in 2026?
As of October 16, 2026, FPAS is down -1.99% year-to-date (YTD), while VTIP has returned 1.68%. That puts VTIP better performer ahead so far this year.
Which ETF is attracting more investor money: FPAS or VTIP?
Year-to-date, the FPAS ETF saw +$12M in flows, compared to +$3.95B for VTIP.
Which ETF is more volatile: FPAS or VTIP?
Over the past year, FPAS had a volatility of 3.17%, while VTIP experienced 1.61%.
Which ETF is bigger: FPAS or VTIP?
As of October 16, 2026, FPAS holds $15.59 M in assets under management (AUM), while VTIP manages $20.91 B.
What sectors do the FPAS and VTIP ETFs invest in?
FPAS leans toward sectors like Sovereign. Meanwhile, VTIP focuses on Sovereign.
What are the top holdings of the FPAS ETF and VTIP ETF?
FPAS top holdings include USA, Notes 4.125% 30jun2031, USD (AA-2031), USA, Notes 4.125% 31may2031, USD (Z-2031) and USA, Notes 4.375% 31jul2031, USD (AB-2031). VTIP holds in its top three: USA, TIPS 1.125% 15oct2030, USD (AE-2030), USA, TIPS 1.25% 15apr2031, USD (X-2031) and USA, TIPS 1.625% 15apr2030, USD (X-2030).
Which ETF is more diversified: FPAS or VTIP?
FPAS has 3 securities. VTIP has 25 securities and a top 15 weight of 72.01%.
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