PIEQX vs. TRRJX
PIEQX (T. Rowe Price International Equity Index Fund) and TRRJX (T. Rowe Price Retirement 2035 Fund) are both mutual funds - PIEQX is a Foreign Large Cap Equities fund managed by T. Rowe Price, while TRRJX is a Target Retirement Date fund actively managed by T. Rowe Price. Over the past 10 years, PIEQX returned 9.17%/yr vs 9.49%/yr for TRRJX. Their correlation of 0.86 means they have usually moved in the same direction. PIEQX charges 0.29%/yr vs 0.58%/yr for TRRJX.
Performance
PIEQX vs. TRRJX - Performance Comparison
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Returns By Period
In the year-to-date period, PIEQX achieves a 12.27% return, which is significantly higher than TRRJX's 9.62% return. Both investments have delivered pretty close results over the past 10 years, with PIEQX having a 9.17% annualized return and TRRJX not far ahead at 9.49%.
PIEQX
- 1D
- 0.54%
- 1M
- 1.82%
- 6M
- 6.16%
- YTD
- 12.27%
- 1Y
- 24.01%
- 3Y*
- 17.23%
- 5Y*
- 9.05%
- 10Y*
- 9.17%
- ALL TIME*
- 5.45%
TRRJX
- 1D
- 0.83%
- 1M
- 0.83%
- 6M
- 6.26%
- YTD
- 9.62%
- 1Y
- 12.36%
- 3Y*
- 12.92%
- 5Y*
- 6.28%
- 10Y*
- 9.49%
- ALL TIME*
- 8.02%
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 |
PIEQX vs. TRRJX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PIEQX T. Rowe Price International Equity Index Fund | 12.27% | 31.37% | 3.40% | 18.07% | -14.54% | 11.02% | 9.21% | 21.04% | -14.29% | 23.44% |
TRRJX T. Rowe Price Retirement 2035 Fund | 9.62% | 10.96% | 11.99% | 18.14% | -17.96% | 15.21% | 17.04% | 23.72% | -6.95% | 20.89% |
Correlation
The correlation between PIEQX and TRRJX 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. | 0.84 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.86 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2004 | 0.86 |
The correlation between PIEQX and TRRJX has been stable across timeframes, ranging from 0.84 to 0.86 - a consistent structural relationship.
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Return for Risk
PIEQX vs. TRRJX — Risk / Return Rank
PIEQX
TRRJX
PIEQX vs. TRRJX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price International Equity Index Fund (PIEQX) and T. Rowe Price Retirement 2035 Fund (TRRJX). 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.
| PIEQX | TRRJX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.37 | ||
| Sortino ratioReturn per unit of downside risk | +0.57 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.24 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 1.75 | +0.52 |
| Martin ratioReturn relative to average drawdown | 8.56 | 6.59 | +1.97 |
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Drawdowns
PIEQX vs. TRRJX - Drawdown Comparison
The maximum PIEQX drawdown since its inception was -60.73%, which is greater than TRRJX's maximum drawdown of -53.57%. Use the drawdown chart below to compare losses from any high point for PIEQX and TRRJX.
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Drawdown Indicators
| PIEQX | TRRJX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.73% | -53.57% | -7.16% |
Max Drawdown (1Y)Largest decline over 1 year | -11.38% | -8.06% | -3.32% |
Max Drawdown (3Y)Largest decline over 3 years | -13.70% | -12.52% | -1.18% |
Max Drawdown (5Y)Largest decline over 5 years | -29.56% | -25.85% | -3.71% |
Max Drawdown (10Y)Largest decline over 10 years | -35.19% | -30.14% | -5.05% |
Current DrawdownCurrent decline from peak | -0.22% | 0.00% | -0.22% |
Average DrawdownAverage peak-to-trough decline | -13.87% | -6.60% | -7.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.01% | 2.11% | +0.90% |
Volatility
PIEQX vs. TRRJX - Volatility Comparison
T. Rowe Price International Equity Index Fund (PIEQX) has a higher volatility of 4.44% compared to T. Rowe Price Retirement 2035 Fund (TRRJX) at 2.86%. This indicates that PIEQX's price experiences larger fluctuations and is considered to be riskier than TRRJX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| PIEQX | TRRJX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.44% | 2.86% | +1.58% |
Volatility (6M)Calculated over the trailing 6-month period | 13.50% | 8.85% | +4.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.88% | 11.22% | +4.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.40% | 12.93% | +3.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.53% | 13.48% | +3.05% |
PIEQX vs. TRRJX - Expense Ratio Comparison
PIEQX has a 0.29% expense ratio, which is lower than TRRJX's 0.58% expense ratio.
Dividends
PIEQX vs. TRRJX - Dividend Comparison
PIEQX's dividend yield for the trailing twelve months is around 2.84%, while TRRJX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PIEQX T. Rowe Price International Equity Index Fund | 2.84% | 3.19% | 2.89% | 3.00% | 2.67% | 3.15% | 1.71% | 2.82% | 2.99% | 0.21% | 2.90% | 2.69% |
TRRJX T. Rowe Price Retirement 2035 Fund | 0.00% | 0.00% | 2.36% | 4.68% | 9.67% | 6.89% | 4.80% | 5.68% | 8.55% | 3.80% | 2.89% | 4.05% |
Frequently Asked Questions
PIEQX and TRRJX 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.
PIEQX has higher volatility (4.44%) compared to TRRJX (2.86%). In terms of maximum drawdown, PIEQX dropped -60.73% vs TRRJX's -53.57%.
PIEQX currently has the higher Sharpe Ratio (1.63 vs 1.26), 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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