LIRAX vs. DRIQX

Last updated Aug 1, 2026

LIRAX (BlackRock LifePath Index Retirement Fund Investor A Shares) and DRIQX (Dimensional 2015 Target Date Retirement Income Fund) are both Target Retirement Date funds. Over the past 10 years, LIRAX returned 5.35%/yr vs 4.48%/yr for DRIQX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. LIRAX charges 0.44%/yr vs 0.17%/yr for DRIQX.

Performance

LIRAX vs. DRIQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock LifePath Index Retirement Fund Investor A Shares (LIRAX) and Dimensional 2015 Target Date Retirement Income Fund (DRIQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, LIRAX achieves a 4.52% return, which is significantly higher than DRIQX's 3.01% return. Over the past 10 years, LIRAX has outperformed DRIQX with an annualized return of 5.35%, while DRIQX has yielded a comparatively lower 4.48% annualized return.

LIRAX

• 1D: 0.72%
• 1M: -0.49%
• 6M: 3.00%
• YTD: 4.52%
• 1Y: 10.11%
• 3Y*: 8.54%
• 5Y*: 3.35%
• 10Y*: 5.35%
• ALL TIME*: 5.14%

DRIQX

• 1D: 0.35%
• 1M: -0.44%
• 6M: 1.84%
• YTD: 3.01%
• 1Y: 6.61%
• 3Y*: 6.44%
• 5Y*: 1.86%
• 10Y*: 4.48%
• ALL TIME*: 5.07%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DRIQX Dimensional 2015 Target Date Retirement Income Fund	$0.00	$0.00	$0.00
LIRAX BlackRock LifePath Index Retirement Fund Investor A Shares	$0.00	$0.00	$0.00

LIRAX vs. DRIQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
LIRAX BlackRock LifePath Index Retirement Fund Investor A Shares	4.52%	12.09%	5.84%	11.22%	-15.49%	6.42%	11.05%	15.60%	-3.79%	10.43%
DRIQX Dimensional 2015 Target Date Retirement Income Fund	3.01%	8.83%	5.47%	8.17%	-14.79%	7.79%	14.31%	14.08%	-4.20%	7.82%

Correlation

The correlation between LIRAX and DRIQX is 0.92, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.92
Correlation (3Y) Balances recent behavior with more history.	0.90
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (10Y) Provides a long-term view across more market conditions.	0.80
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016	0.79

The correlation between LIRAX and DRIQX shifts across timeframes, from 0.79 (all time) to 0.92 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

LIRAX vs. DRIQX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

LIRAX

LIRAX Risk / Return Rank: 73
LIRAX Sharpe Ratio Rank: 70
LIRAX Sortino Ratio Rank: 70
LIRAX Omega Ratio Rank: 72
LIRAX Calmar Ratio Rank: 72
LIRAX Martin Ratio Rank: 80

DRIQX

DRIQX Risk / Return Rank: 53
DRIQX Sharpe Ratio Rank: 54
DRIQX Sortino Ratio Rank: 54
DRIQX Omega Ratio Rank: 54
DRIQX Calmar Ratio Rank: 48
DRIQX Martin Ratio Rank: 53

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

LIRAX vs. DRIQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock LifePath Index Retirement Fund Investor A Shares (LIRAX) and Dimensional 2015 Target Date Retirement Income Fund (DRIQX). 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.

	LIRAX	DRIQX	Difference
Sharpe ratio: Return per unit of total volatility	1.65	1.46	+0.19
Sortino ratio: Return per unit of downside risk	2.35	2.10	+0.26
Omega ratio: Gain probability vs. loss probability	1.31	1.27	+0.04
Calmar ratio: Return relative to maximum drawdown	2.33	1.90	+0.43
Martin ratio: Return relative to average drawdown	9.70	7.47	+2.23

LIRAX vs. DRIQX - Sharpe Ratio Comparison

The current LIRAX Sharpe Ratio is 1.65, which is comparable to the DRIQX Sharpe Ratio of 1.46. The chart below compares the historical Sharpe Ratios of LIRAX and DRIQX, 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

LIRAX vs. DRIQX - Drawdown Comparison

The maximum LIRAX drawdown since its inception was -20.67%, roughly equal to the maximum DRIQX drawdown of -19.86%. Use the drawdown chart below to compare losses from any high point for LIRAX and DRIQX.

Drawdown Indicators

	LIRAX	DRIQX	Difference
Max Drawdown Largest peak-to-trough decline	-20.67%	-19.86%	-0.81%
Max Drawdown (1Y) Largest decline over 1 year	-4.29%	-3.47%	-0.82%
Max Drawdown (3Y) Largest decline over 3 years	-6.93%	-5.12%	-1.81%
Max Drawdown (5Y) Largest decline over 5 years	-20.67%	-19.86%	-0.81%
Max Drawdown (10Y) Largest decline over 10 years	-20.67%	-19.86%	-0.81%
Current Drawdown Current decline from peak	-1.12%	-1.30%	+0.18%
Average Drawdown Average peak-to-trough decline	-2.92%	-3.84%	+0.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	0.88%	+0.15%

Volatility

LIRAX vs. DRIQX - Volatility Comparison

BlackRock LifePath Index Retirement Fund Investor A Shares (LIRAX) has a higher volatility of 1.72% compared to Dimensional 2015 Target Date Retirement Income Fund (DRIQX) at 1.10%. This indicates that LIRAX's price experiences larger fluctuations and is considered to be riskier than DRIQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LIRAX	DRIQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.72%	1.10%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	5.13%	3.60%	+1.53%
Volatility (1Y) Calculated over the trailing 1-year period	6.09%	4.52%	+1.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.91%	7.07%	+0.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.52%	6.58%	+0.94%

LIRAX vs. DRIQX - Expense Ratio Comparison

LIRAX has a 0.44% expense ratio, which is higher than DRIQX's 0.17% expense ratio.

Dividends

LIRAX vs. DRIQX - Dividend Comparison

LIRAX's dividend yield for the trailing twelve months is around 5.02%, less than DRIQX's 6.36% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DRIQX Dimensional 2015 Target Date Retirement Income Fund	6.36%	4.95%	4.53%	4.28%	6.51%	4.54%	3.76%	2.05%	2.23%	1.66%	1.37%	0.00%
LIRAX BlackRock LifePath Index Retirement Fund Investor A Shares	5.02%	3.53%	1.82%	2.37%	2.42%	2.42%	1.70%	2.22%	2.18%	1.99%	2.23%	2.67%

Frequently Asked Questions

Can I hold both LIRAX and DRIQX in my portfolio?

With a correlation of 0.92, LIRAX and DRIQX 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, LIRAX or DRIQX?

LIRAX has higher volatility (1.72%) compared to DRIQX (1.10%). In terms of maximum drawdown, LIRAX dropped -20.67% vs DRIQX's -19.86%.

Which has better risk-adjusted returns?

LIRAX currently has the higher Sharpe Ratio (1.65 vs 1.46), 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.