AAHTX vs. RLBGX

Last updated Jun 24, 2026

AAHTX (American Funds 2045 Target Date Retirement Fund) and RLBGX (American Funds American Balanced Fund Class R-6) are both mutual funds - AAHTX is a Target Retirement Date fund managed by American Funds, while RLBGX is a Diversified Portfolio fund managed by American Funds. Over the past 10 years, AAHTX returned 12.18%/yr vs 10.56%/yr for RLBGX. With a 0.96 correlation, they move nearly in lockstep. AAHTX charges 0.33%/yr vs 0.25%/yr for RLBGX.

Performance

AAHTX vs. RLBGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds 2045 Target Date Retirement Fund (AAHTX) and American Funds American Balanced Fund Class R-6 (RLBGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with AAHTX having a 9.89% return and RLBGX slightly lower at 9.55%. Over the past 10 years, AAHTX has outperformed RLBGX with an annualized return of 12.18%, while RLBGX has yielded a comparatively lower 10.56% annualized return.

AAHTX

• 1D: -0.19%
• 1M: 1.90%
• YTD: 9.89%
• 6M: 9.42%
• 1Y: 22.99%
• 3Y*: 18.33%
• 5Y*: 9.47%
• 10Y*: 12.18%

RLBGX

• 1D: -0.32%
• 1M: 1.44%
• YTD: 9.55%
• 6M: 9.49%
• 1Y: 23.09%
• 3Y*: 17.46%
• 5Y*: 9.99%
• 10Y*: 10.56%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAHTX vs. RLBGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
AAHTX American Funds 2045 Target Date Retirement Fund	9.89%	20.01%	14.82%	19.74%	-18.40%	16.83%	18.79%	24.33%	-5.92%	22.02%
RLBGX American Funds American Balanced Fund Class R-6	9.55%	18.83%	15.35%	13.92%	-11.85%	16.10%	11.20%	18.95%	-3.07%	14.97%

Correlation

The correlation between AAHTX and RLBGX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.96
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010	0.96

The correlation between AAHTX and RLBGX has been stable across timeframes, ranging from 0.96 to 0.97 - a consistent structural relationship.

Return for Risk

AAHTX vs. RLBGX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAHTX

AAHTX Risk / Return Rank: 55
AAHTX Sharpe Ratio Rank: 55
AAHTX Sortino Ratio Rank: 53
AAHTX Omega Ratio Rank: 55
AAHTX Calmar Ratio Rank: 50
AAHTX Martin Ratio Rank: 62

RLBGX

RLBGX Risk / Return Rank: 83
RLBGX Sharpe Ratio Rank: 86
RLBGX Sortino Ratio Rank: 83
RLBGX Omega Ratio Rank: 82
RLBGX Calmar Ratio Rank: 80
RLBGX Martin Ratio Rank: 87

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AAHTX vs. RLBGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds 2045 Target Date Retirement Fund (AAHTX) and American Funds American Balanced Fund Class R-6 (RLBGX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AAHTX	RLBGX	Difference
Sharpe ratio: Return per unit of total volatility	2.01	2.61	-0.60
Sortino ratio: Return per unit of downside risk	2.81	3.62	-0.81
Omega ratio: Gain probability vs. loss probability	1.37	1.49	-0.12
Calmar ratio: Return relative to maximum drawdown	2.60	3.43	-0.83
Martin ratio: Return relative to average drawdown	11.56	15.17	-3.61

AAHTX vs. RLBGX - Sharpe Ratio Comparison

The current AAHTX Sharpe Ratio is 2.01, which is comparable to the RLBGX Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of AAHTX and RLBGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AAHTX vs. RLBGX - Drawdown Comparison

The maximum AAHTX drawdown since its inception was -50.05%, which is greater than RLBGX's maximum drawdown of -22.33%. Use the drawdown chart below to compare losses from any high point for AAHTX and RLBGX.

Drawdown Indicators

	AAHTX	RLBGX	Difference
Max Drawdown Largest peak-to-trough decline	-50.05%	-22.33%	-27.72%
Max Drawdown (1Y) Largest decline over 1 year	-9.20%	-6.98%	-2.22%
Max Drawdown (3Y) Largest decline over 3 years	-14.49%	-10.65%	-3.84%
Max Drawdown (5Y) Largest decline over 5 years	-25.83%	-18.59%	-7.24%
Max Drawdown (10Y) Largest decline over 10 years	-28.92%	-22.33%	-6.59%
Current Drawdown Current decline from peak	-0.30%	-0.51%	+0.21%
Average Drawdown Average peak-to-trough decline	-7.07%	-2.46%	-4.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.06%	1.57%	+0.49%

Volatility

AAHTX vs. RLBGX - Volatility Comparison

American Funds 2045 Target Date Retirement Fund (AAHTX) has a higher volatility of 4.62% compared to American Funds American Balanced Fund Class R-6 (RLBGX) at 3.40%. This indicates that AAHTX's price experiences larger fluctuations and is considered to be riskier than RLBGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AAHTX	RLBGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.62%	3.40%	+1.22%
Volatility (6M) Calculated over the trailing 6-month period	9.74%	7.29%	+2.45%
Volatility (1Y) Calculated over the trailing 1-year period	11.91%	9.19%	+2.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.07%	10.57%	+3.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.63%	10.72%	+3.91%

AAHTX vs. RLBGX - Expense Ratio Comparison

AAHTX has a 0.33% expense ratio, which is higher than RLBGX's 0.25% expense ratio.

Dividends

AAHTX vs. RLBGX - Dividend Comparison

AAHTX's dividend yield for the trailing twelve months is around 5.33%, less than RLBGX's 7.41% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAHTX American Funds 2045 Target Date Retirement Fund	5.33%	5.85%	3.37%	2.46%	6.75%	4.62%	3.19%	4.24%	4.85%	2.33%	3.50%	4.74%
RLBGX American Funds American Balanced Fund Class R-6	7.41%	8.56%	7.50%	2.27%	2.63%	4.59%	4.65%	3.78%	5.81%	4.92%	4.54%	5.91%

Frequently Asked Questions

Can I hold both AAHTX and RLBGX in my portfolio?

With a correlation of 0.97, AAHTX and RLBGX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, AAHTX or RLBGX?

AAHTX has higher volatility (4.62%) compared to RLBGX (3.40%). In terms of maximum drawdown, AAHTX dropped -50.05% vs RLBGX's -22.33%.

Which has better risk-adjusted returns?

RLBGX currently has the higher Sharpe Ratio (2.61 vs 2.01), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.