RFHTX vs. RGAGX

Last updated Jun 24, 2026

RFHTX (American Funds 2045 Target Date Retirement Fund Class R-6) and RGAGX (American Funds The Growth Fund of America Class R-6) are both mutual funds - RFHTX is a Target Retirement Date fund tracking the S&P Target Date 2045 Index, while RGAGX is a Large Cap Growth Equities fund actively managed by American Funds. RFHTX is passively managed, while RGAGX is actively managed. Over the past 10 years, RFHTX returned 12.55%/yr vs 16.70%/yr for RGAGX. With a 0.96 correlation, they move nearly in lockstep. RFHTX charges 0.37%/yr vs 0.30%/yr for RGAGX.

Performance

RFHTX vs. RGAGX - Performance Comparison

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

Returns By Period

In the year-to-date period, RFHTX achieves a 10.01% return, which is significantly higher than RGAGX's 8.89% return. Over the past 10 years, RFHTX has underperformed RGAGX with an annualized return of 12.55%, while RGAGX has yielded a comparatively higher 16.70% annualized return.

RFHTX

• 1D: -0.19%
• 1M: 1.92%
• YTD: 10.01%
• 6M: 9.60%
• 1Y: 23.36%
• 3Y*: 18.71%
• 5Y*: 9.83%
• 10Y*: 12.55%

RGAGX

• 1D: -0.52%
• 1M: 1.99%
• YTD: 8.89%
• 6M: 7.98%
• 1Y: 23.17%
• 3Y*: 24.32%
• 5Y*: 11.82%
• 10Y*: 16.70%

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

RFHTX vs. RGAGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RFHTX American Funds 2045 Target Date Retirement Fund Class R-6	10.01%	20.44%	15.18%	20.16%	-18.16%	17.23%	19.22%	24.65%	-5.57%	22.44%
RGAGX American Funds The Growth Fund of America Class R-6	8.89%	20.08%	28.41%	37.66%	-30.53%	19.67%	38.30%	29.22%	-2.88%	26.53%

Correlation

The correlation between RFHTX and RGAGX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.96
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010	0.96

The correlation between RFHTX and RGAGX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.

Return for Risk

RFHTX vs. RGAGX — Risk / Return Rank

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

RFHTX

RFHTX Risk / Return Rank: 57
RFHTX Sharpe Ratio Rank: 57
RFHTX Sortino Ratio Rank: 55
RFHTX Omega Ratio Rank: 56
RFHTX Calmar Ratio Rank: 53
RFHTX Martin Ratio Rank: 64

RGAGX

RGAGX Risk / Return Rank: 30
RGAGX Sharpe Ratio Rank: 31
RGAGX Sortino Ratio Rank: 29
RGAGX Omega Ratio Rank: 31
RGAGX Calmar Ratio Rank: 26
RGAGX Martin Ratio Rank: 32

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.

RFHTX vs. RGAGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds 2045 Target Date Retirement Fund Class R-6 (RFHTX) and American Funds The Growth Fund of America Class R-6 (RGAGX). 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.

	RFHTX	RGAGX	Difference
Sharpe ratio: Return per unit of total volatility	2.05	1.50	+0.55
Sortino ratio: Return per unit of downside risk	2.87	2.07	+0.79
Omega ratio: Gain probability vs. loss probability	1.38	1.27	+0.11
Calmar ratio: Return relative to maximum drawdown	2.66	1.79	+0.87
Martin ratio: Return relative to average drawdown	11.83	6.83	+5.00

RFHTX vs. RGAGX - Sharpe Ratio Comparison

The current RFHTX Sharpe Ratio is 2.05, which is higher than the RGAGX Sharpe Ratio of 1.50. The chart below compares the historical Sharpe Ratios of RFHTX and RGAGX, 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

RFHTX vs. RGAGX - Drawdown Comparison

The maximum RFHTX drawdown since its inception was -28.95%, smaller than the maximum RGAGX drawdown of -36.19%. Use the drawdown chart below to compare losses from any high point for RFHTX and RGAGX.

Drawdown Indicators

	RFHTX	RGAGX	Difference
Max Drawdown Largest peak-to-trough decline	-28.95%	-36.19%	+7.24%
Max Drawdown (1Y) Largest decline over 1 year	-9.16%	-13.71%	+4.55%
Max Drawdown (3Y) Largest decline over 3 years	-14.47%	-21.54%	+7.07%
Max Drawdown (5Y) Largest decline over 5 years	-25.62%	-36.19%	+10.57%
Max Drawdown (10Y) Largest decline over 10 years	-28.95%	-36.19%	+7.24%
Current Drawdown Current decline from peak	-0.30%	-1.55%	+1.25%
Average Drawdown Average peak-to-trough decline	-4.00%	-5.48%	+1.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.05%	3.57%	-1.52%

Volatility

RFHTX vs. RGAGX - Volatility Comparison

The current volatility for American Funds 2045 Target Date Retirement Fund Class R-6 (RFHTX) is 4.63%, while American Funds The Growth Fund of America Class R-6 (RGAGX) has a volatility of 6.79%. This indicates that RFHTX experiences smaller price fluctuations and is considered to be less risky than RGAGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RFHTX	RGAGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.63%	6.79%	-2.16%
Volatility (6M) Calculated over the trailing 6-month period	9.75%	13.01%	-3.26%
Volatility (1Y) Calculated over the trailing 1-year period	11.89%	16.30%	-4.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.04%	20.43%	-6.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.63%	19.78%	-5.15%

RFHTX vs. RGAGX - Expense Ratio Comparison

RFHTX has a 0.37% expense ratio, which is higher than RGAGX's 0.30% expense ratio.

Dividends

RFHTX vs. RGAGX - Dividend Comparison

RFHTX's dividend yield for the trailing twelve months is around 5.55%, less than RGAGX's 10.09% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RFHTX American Funds 2045 Target Date Retirement Fund Class R-6	5.55%	6.10%	3.67%	2.75%	7.05%	4.89%	3.45%	4.52%	5.18%	2.60%	3.78%	5.04%
RGAGX American Funds The Growth Fund of America Class R-6	10.09%	10.99%	9.29%	7.70%	4.44%	8.49%	4.57%	7.93%	12.36%	7.34%	6.95%	9.22%

Frequently Asked Questions

Can I hold both RFHTX and RGAGX in my portfolio?

With a correlation of 0.95, RFHTX and RGAGX 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, RFHTX or RGAGX?

RGAGX has higher volatility (6.79%) compared to RFHTX (4.63%). In terms of maximum drawdown, RFHTX dropped -28.95% vs RGAGX's -36.19%.

Which has better risk-adjusted returns?

RFHTX currently has the higher Sharpe Ratio (2.05 vs 1.50), 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.