Investment objective & strategy
As of Jan. 28, 2026 · prospectusObjective. Vanguard Short-Term Inflation-Protected Securities Index Fund (the Fund) seeks to track the performance of a benchmark index that measures the investment return of inflation-protected public obligations of the U.S. Treasury with remaining maturities of less than 5 years.
Strategy. The Fund employs an indexing investment approach designed to track the performance of the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (the Target Index). The Target Index is a market-capitalization weighted index consisting of inflation-protected public obligations issued by the U.S. Treasury with remaining maturities of less than 5 years. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in inflation-indexed securities that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the securities that make up the Target Index, holding each security in approximately the same proportion as its weighting … The Fund employs an indexing investment approach designed to track the performance of the Bloomberg U.S. Treasury Inflation-Protected Securities (TIPS) 0-5 Years Index (the Target Index). The Target Index is a market-capitalization weighted index consisting of inflation-protected public obligations issued by the U.S. Treasury with remaining maturities of less than 5 years. Under normal circumstances, the Fund invests at least 80% of its net assets, plus the amount of any borrowings for investment purposes, in inflation-indexed securities that make up the Target Index. The Fund attempts to replicate the Target Index by investing all, or substantially all, of its assets in the securities that make up the Target Index, holding each security in approximately the same proportion as its weighting in the Target Index. The Fund seeks to maintain a dollar-weighted average maturity consistent with that of the Target Index. As of September 30, 2025, the dollar-weighted average maturity of the Target Index was 2.4 years.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| U.S. Treasury Inflation-Linked Notes | TII | $3.62B | 5.49% |
| U.S. Treasury Notes | TII | $3.60B | 5.46% |
| U.S. Treasury Inflation-Protected Indexed Notes | TII | $3.49B | 5.29% |
| U.S. Treasury Notes | TII | $3.36B | 5.11% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 2.375% 10/15/2028 | TII | $3.35B | 5.09% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 1-5/8% 10/15/27 | TII | $3.23B | 4.91% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 0-1/8% 04/15/2027 | TII | $3.16B | 4.80% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 1.250 04/15/2028 | TII | $3.15B | 4.79% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 0-1/8% 10/15/2026 | TII | $3.13B | 4.75% |
| U.S. TREASURY INFLATION-PROTECTED SECURITIES 0-1/8% 01/15/2031 | TII | $3.07B | 4.66% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| iShares Short-Term TIPS Bond Index Fund | 100% | 0.06% |
| Fidelity Series 0-5 Year Inflation-Protected Bond Index Fund · FSTZX | 97% | 0.00% |
| Fidelity SAI 0-5 Year Inflation-Protected Bond Index Fund · FFNYX | 96% | 0.05% |
Advisers
| Firm | Role |
|---|---|
| The Vanguard Group, Inc. | Adviser |
Footnotes
- Expense ratio as of January 28, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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