PRWAX vs. TRRJX
PRWAX (T. Rowe Price All-Cap Opportunities Fund) and TRRJX (T. Rowe Price Retirement 2035 Fund) are both mutual funds - PRWAX is a Large Cap Growth Equities fund actively managed by T. Rowe Price, while TRRJX is a Target Retirement Date fund actively managed by T. Rowe Price. Both are actively managed. Over the past 10 years, PRWAX returned 16.77%/yr vs 9.42%/yr for TRRJX. Their correlation of 0.93 means they have usually moved in the same direction. PRWAX charges 0.76%/yr vs 0.58%/yr for TRRJX.
Performance
PRWAX vs. TRRJX - Performance Comparison
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Returns By Period
In the year-to-date period, PRWAX achieves a -1.10% return, which is significantly lower than TRRJX's 8.47% return. Over the past 10 years, PRWAX has outperformed TRRJX with an annualized return of 16.77%, while TRRJX has yielded a comparatively lower 9.42% annualized return.
PRWAX
- 1D
- 1.76%
- 1M
- -1.38%
- 6M
- -0.18%
- YTD
- -1.10%
- 1Y
- 7.57%
- 3Y*
- 14.80%
- 5Y*
- 8.53%
- 10Y*
- 16.77%
- ALL TIME*
- 11.61%
TRRJX
- 1D
- 1.36%
- 1M
- -0.24%
- 6M
- 4.58%
- YTD
- 8.47%
- 1Y
- 12.46%
- 3Y*
- 11.73%
- 5Y*
- 6.12%
- 10Y*
- 9.42%
- ALL TIME*
- 7.97%
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 |
PRWAX vs. TRRJX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
PRWAX T. Rowe Price All-Cap Opportunities Fund | -1.10% | 16.37% | 25.24% | 29.02% | -21.37% | 20.63% | 44.73% | 35.08% | 1.26% | 34.51% |
TRRJX T. Rowe Price Retirement 2035 Fund | 8.47% | 10.96% | 11.99% | 18.14% | -17.96% | 15.21% | 17.04% | 23.72% | -6.95% | 20.89% |
Correlation
The correlation between PRWAX and TRRJX is 0.85, 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. | 0.85 |
Correlation (3Y) Balances recent behavior with more history. | 0.86 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.90 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2004 | 0.93 |
The correlation between PRWAX and TRRJX has been stable across timeframes, ranging from 0.85 to 0.93 - a consistent structural relationship.
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Return for Risk
PRWAX vs. TRRJX — Risk / Return Rank
PRWAX
TRRJX
PRWAX vs. TRRJX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price All-Cap Opportunities Fund (PRWAX) 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.
| PRWAX | TRRJX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.20 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 0.40 | 1.42 | -1.02 |
| Martin ratioReturn relative to average drawdown | 1.36 | 5.35 | -3.98 |
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Drawdowns
PRWAX vs. TRRJX - Drawdown Comparison
The maximum PRWAX drawdown since its inception was -55.06%, roughly equal to the maximum TRRJX drawdown of -53.57%. Use the drawdown chart below to compare losses from any high point for PRWAX and TRRJX.
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Drawdown Indicators
| PRWAX | TRRJX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.06% | -53.57% | -1.49% |
Max Drawdown (1Y)Largest decline over 1 year | -14.09% | -8.06% | -6.03% |
Max Drawdown (3Y)Largest decline over 3 years | -19.06% | -12.52% | -6.54% |
Max Drawdown (5Y)Largest decline over 5 years | -29.38% | -25.85% | -3.53% |
Max Drawdown (10Y)Largest decline over 10 years | -30.50% | -30.14% | -0.36% |
Current DrawdownCurrent decline from peak | -3.04% | -0.98% | -2.06% |
Average DrawdownAverage peak-to-trough decline | -9.87% | -6.61% | -3.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.13% | 2.11% | +2.02% |
Volatility
PRWAX vs. TRRJX - Volatility Comparison
T. Rowe Price All-Cap Opportunities Fund (PRWAX) has a higher volatility of 4.17% compared to T. Rowe Price Retirement 2035 Fund (TRRJX) at 2.78%. This indicates that PRWAX'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
| PRWAX | TRRJX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.17% | 2.78% | +1.39% |
Volatility (6M)Calculated over the trailing 6-month period | 11.97% | 8.83% | +3.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.62% | 11.22% | +3.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.78% | 12.93% | +4.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.74% | 13.47% | +5.27% |
PRWAX vs. TRRJX - Expense Ratio Comparison
PRWAX has a 0.76% expense ratio, which is higher than TRRJX's 0.58% expense ratio.
Dividends
PRWAX vs. TRRJX - Dividend Comparison
PRWAX's dividend yield for the trailing twelve months is around 8.44%, while TRRJX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PRWAX T. Rowe Price All-Cap Opportunities Fund | 8.44% | 8.35% | 9.22% | 5.10% | 3.11% | 20.51% | 15.44% | 7.01% | 12.58% | 12.30% | 6.19% | 8.84% |
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
PRWAX and TRRJX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRWAX has higher volatility (4.17%) compared to TRRJX (2.78%). In terms of maximum drawdown, PRWAX dropped -55.06% vs TRRJX's -53.57%.
TRRJX currently has the higher Sharpe Ratio (1.02 vs 0.39), 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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