Re: Bond Mavens- Vanguard Question
I suspect the difference has to do with the construction of the portfolio. The real yield curve is pretty flat from 5-20 years but I think pretty steep from 0-5 years. The Inflation Protected Securities Fund has about 26.5% of the portfolio in the 0-5 year range with a little more than 6% in the 0-3 year area. The loss of yield on this front end, and the absence of yield pick-up on the back end, probably explains the difference.
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