Vanguard Total Inflation-Protected Securities ETF (VTP)

The Vanguard Total Inflation-Protected Securities ETF is a passively managed fund from Vanguard that seeks to track an index of U.S. Treasury Inflation-Protected Securities (TIPS) across the full range of maturities.

TIPS are Treasury bonds whose principal is adjusted according to changes in the Consumer Price Index, so the interest payments and the amount repaid at maturity rise with inflation. By holding TIPS from short through long maturities, the fund aims to provide broad exposure to inflation-linked government debt in a single portfolio.

Vanguard is the sponsor and adviser. Because its holdings are U.S. government obligations, the fund's returns are shaped mainly by real interest rates and inflation expectations rather than credit conditions.