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Inflation-Protected Securities Portfolio

Overview

Unit Price as of 11/20/2024 $19.79
Change $0.00 0.00%
Expense Ratio as of 11/20/2024 0.12%
Inception Date 11/20/2003

Investment Objective

The Portfolio seeks to provide inflation protection and income consistent with investment in inflation-indexed securities.

Investment Strategy

The Portfolio invests 100% of its assets in Vanguard® Inflation-Protected Securities Fund. The Fund invests at least 80% of its assets in inflation-indexed bonds issued by the U.S. government, its agencies and instrumentalities, and corporations. The Fund may invest in bonds of any maturity; however, its dollar-weighted average maturity is expected to be in the range of 7 to 20 years. At a minimum, all bonds purchased by the Fund will be rated "investment-grade or, if unrated, will be considered by the advisor to be investment-grade." Unlike a conventional bond, whose issuer makes regular fixed interest payments and repays the face value of the bond at maturity, an inflation-indexed security (IIS) provides principal and interest payments that are adjusted over time to reflect a rise (inflation) or a drop (deflation) in the general price level for goods and services. In the event of deflation, the U.S. Treasury has guaranteed that it will repay at least the face value of an IIS issued by the U.S. government.

NOTE: The Inflation-Protected Securities Portfolio seeks to provide protection from inflation (i.e., a rise in the general price level of goods and services), as measured by the Consumer Price Index. It is possible that the costs of higher education may increase at a rate that exceeds the rate of increase of the Consumer Price Index.

Investment Risks

The Portfolio is subject to a high level of income-fluctuation risk. The Portfolio also has moderate to high levels of interest rate risk and low levels of manager risk and derivatives risk.

Average Annual Returns - Updated Monthly as of 10/31/2024

Name 1 year 3 year 5 year 10 year Since Inception 11/20/2003
Name Inflation-Protected Securities Portfolio 1 year 8.47% 3 year -1.61% 5 year 2.12% 10 year 2.14% Since Inception 11/20/2003 3.33%
Name Bloomberg Barclays U.S. Treasury Inflation Protected Securities Index** 1 year 8.61% 3 year -1.54% 5 year 2.20% 10 year 2.26% Since Inception 11/20/2003 3.63%

**Includes the inflation-indexed securities within the Bloomberg Barclays U.S. Treasury Index, which represents U.S. Treasury obligations with maturities of more than 1 year. Effective September 29, 2016, Barclays indexes were rebranded to Bloomberg Barclays indexes.

Annual Investment Returns

Year Ended Inflation-Protected Securities Portfolio
Year Ended 2023 Inflation-Protected Securities Portfolio 3.77%
Year Ended 2022 Inflation-Protected Securities Portfolio -11.91%
Year Ended 2021 Inflation-Protected Securities Portfolio 5.66%
Year Ended 2020 Inflation-Protected Securities Portfolio 10.96%
Year Ended 2019 Inflation-Protected Securities Portfolio 8.12%

Historical Prices

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Index performance is provided as a benchmark but is not illustrative of any particular investment. An investment cannot be made in an index.

The performance data shown represents past performance. Past performance - especially short-term past performance - is not a guarantee of future results. Investment returns and principal value will fluctuate, so that investors' units, when sold, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data cited. For performance data current to the most recent quarter-end click here.

Investment returns are not guaranteed, and you could lose money by investing in the Direct Plan.

For more information about New York's 529 College Savings Program Direct Plan, download a Disclosure Booklet and Tuition Savings Agreement or request one by calling 877-NYSAVES (877-697-2837). This document includes investment objectives, risks, charges, expenses, and other information. You should read and consider them carefully before investing.

Before you invest, consider whether your or the beneficiary's home state offers any state tax or other benefits that are only available for investments in that state's 529 plan. Other state benefits may include financial aid, scholarship funds, and protection from creditors.

The Comptroller of the State of New York and the New York State Higher Education Services Corporation are the Program Administrators and are responsible for implementing and administering the Direct Plan.

Ascensus Broker Dealer Services, Inc., serves as Program Manager and, in connection with its affiliates, provides recordkeeping and administrative support services and is responsible for day-to-day operations of the Direct Plan. The Vanguard Group, Inc., serves as the Investment Manager. Vanguard Marketing Corporation markets, distributes, and underwrites the Direct Plan.

No guarantee: None of the State of New York, its agencies, the Federal Deposit Insurance Corporation (FDIC), The Vanguard Group, Inc., Ascensus Broker Dealer Services, Inc., nor any of their applicable affiliates insures accounts or guarantees the principal deposited therein or any investment returns on any account or investment portfolio.