PAIRX vs. PRCOX
PAIRX (T. Rowe Price Target 2020 Fund) and PRCOX (T. Rowe Price U.S. Equity Research Fund) are both mutual funds - PAIRX is a Target Retirement Date fund managed by T. Rowe Price, while PRCOX is a Large Cap Blend Equities fund actively managed by T. Rowe Price. Over the past 10 years, PAIRX returned 5.90%/yr vs 15.49%/yr for PRCOX. Their correlation of 0.89 means they have usually moved in the same direction. PAIRX charges 0.75%/yr vs 0.42%/yr for PRCOX.
Performance
PAIRX vs. PRCOX - Performance Comparison
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Returns By Period
In the year-to-date period, PAIRX achieves a 4.42% return, which is significantly lower than PRCOX's 9.19% return. Over the past 10 years, PAIRX has underperformed PRCOX with an annualized return of 5.90%, while PRCOX has yielded a comparatively higher 15.49% annualized return.
PAIRX
- 1D
- 0.70%
- 1M
- -0.31%
- 6M
- 2.36%
- YTD
- 4.42%
- 1Y
- 9.58%
- 3Y*
- 8.71%
- 5Y*
- 3.95%
- 10Y*
- 5.90%
- ALL TIME*
- 5.72%
PRCOX
- 1D
- 1.65%
- 1M
- -0.98%
- 6M
- 7.45%
- YTD
- 9.19%
- 1Y
- 19.80%
- 3Y*
- 19.25%
- 5Y*
- 13.05%
- 10Y*
- 15.49%
- ALL TIME*
- 10.53%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
PAIRX vs. PRCOX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PAIRX T. Rowe Price Target 2020 Fund | 4.42% | 10.70% | 7.69% | 11.09% | -13.39% | 8.34% | 11.73% | 16.17% | -4.25% | 11.01% |
PRCOX T. Rowe Price U.S. Equity Research Fund | 9.19% | 16.34% | 26.41% | 29.82% | -18.80% | 28.06% | 19.82% | 33.04% | -4.73% | 23.80% |
Correlation
The correlation between PAIRX and PRCOX is 0.86, 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. | 0.86 |
Correlation (3Y) Balances recent behavior with more history. | 0.82 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.85 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.88 |
Correlation (All Time) Calculated using the full available price history since Aug 23, 2013 | 0.89 |
The correlation between PAIRX and PRCOX has been stable across timeframes, ranging from 0.82 to 0.89 - a consistent structural relationship.
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Return for Risk
PAIRX vs. PRCOX — Risk / Return Rank
PAIRX
PRCOX
PAIRX vs. PRCOX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Target 2020 Fund (PAIRX) and T. Rowe Price U.S. Equity Research Fund (PRCOX). 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.
| PAIRX | PRCOX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.26 | ||
| Sortino ratioReturn per unit of downside risk | +0.40 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.24 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.09 | 1.90 | +0.20 |
| Martin ratioReturn relative to average drawdown | 8.87 | 8.13 | +0.73 |
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Drawdowns
PAIRX vs. PRCOX - Drawdown Comparison
The maximum PAIRX drawdown since its inception was -20.25%, smaller than the maximum PRCOX drawdown of -53.96%. Use the drawdown chart below to compare losses from any high point for PAIRX and PRCOX.
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Drawdown Indicators
| PAIRX | PRCOX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.25% | -53.96% | +33.71% |
Max Drawdown (1Y)Largest decline over 1 year | -4.52% | -9.32% | +4.80% |
Max Drawdown (3Y)Largest decline over 3 years | -6.45% | -19.39% | +12.94% |
Max Drawdown (5Y)Largest decline over 5 years | -18.43% | -24.94% | +6.51% |
Max Drawdown (10Y)Largest decline over 10 years | -20.25% | -34.42% | +14.17% |
Current DrawdownCurrent decline from peak | -0.76% | -2.57% | +1.81% |
Average DrawdownAverage peak-to-trough decline | -3.04% | -9.14% | +6.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 2.17% | -1.12% |
Volatility
PAIRX vs. PRCOX - Volatility Comparison
The current volatility for T. Rowe Price Target 2020 Fund (PAIRX) is 1.51%, while T. Rowe Price U.S. Equity Research Fund (PRCOX) has a volatility of 3.61%. This indicates that PAIRX experiences smaller price fluctuations and is considered to be less risky than PRCOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PAIRX | PRCOX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.51% | 3.61% | -2.10% |
Volatility (6M)Calculated over the trailing 6-month period | 4.92% | 10.65% | -5.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.90% | 13.10% | -7.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.09% | 17.48% | -10.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.52% | 18.36% | -10.84% |
PAIRX vs. PRCOX - Expense Ratio Comparison
PAIRX has a 0.75% expense ratio, which is higher than PRCOX's 0.42% expense ratio.
Dividends
PAIRX vs. PRCOX - Dividend Comparison
PAIRX's dividend yield for the trailing twelve months is around 5.20%, more than PRCOX's 1.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PAIRX T. Rowe Price Target 2020 Fund | 5.20% | 5.42% | 5.55% | 4.00% | 8.22% | 4.79% | 4.56% | 3.33% | 4.74% | 1.67% | 1.23% | 1.13% |
PRCOX T. Rowe Price U.S. Equity Research Fund | 1.07% | 1.17% | 0.64% | 1.17% | 1.28% | 3.71% | 1.04% | 1.39% | 5.60% | 7.02% | 7.28% | 8.76% |
Frequently Asked Questions
PAIRX and PRCOX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRCOX has higher volatility (3.61%) compared to PAIRX (1.51%). In terms of maximum drawdown, PAIRX dropped -20.25% vs PRCOX's -53.96%.
PAIRX currently has the higher Sharpe Ratio (1.61 vs 1.35), 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.
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