Sure, a case can be made that the CPI is improving, but that doesn’t mean the case for Treasury Inflation-Protected Securities (TIPS) and exchange traded funds such as the Vanguard Short-Term Inflation-Protected Securities ETF (VTIP) is dead. VTIP Case Alive and Well After it and its rivals endured a disappointing showing in 2022, VTIP is higher by 1.69% year-to-date while sporting a tempting yield of 5.76%. When considering VTIP, it’s also important to remember the details when it comes to CPI reports.