RPBAX vs. PRAIX

Last updated Aug 1, 2026

RPBAX (T. Rowe Price Balanced Fund) and PRAIX (PIMCO Long-Term Real Return Fund) are both mutual funds - RPBAX is a Diversified Portfolio fund actively managed by T. Rowe Price, while PRAIX is a Inflation-Protected Bonds fund managed by PIMCO. Over the past 10 years, RPBAX returned 8.54%/yr vs 0.12%/yr for PRAIX. Their -0.01 correlation means they have often moved in opposite directions in the past. RPBAX charges 0.61%/yr vs 0.50%/yr for PRAIX.

Performance

RPBAX vs. PRAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Balanced Fund (RPBAX) and PIMCO Long-Term Real Return Fund (PRAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RPBAX achieves a 6.07% return, which is significantly higher than PRAIX's -4.47% return. Over the past 10 years, RPBAX has outperformed PRAIX with an annualized return of 8.54%, while PRAIX has yielded a comparatively lower 0.12% annualized return.

RPBAX

• 1D: 1.19%
• 1M: -0.13%
• 6M: 3.87%
• YTD: 6.07%
• 1Y: 14.25%
• 3Y*: 12.72%
• 5Y*: 6.69%
• 10Y*: 8.54%
• ALL TIME*: 7.79%

PRAIX

• 1D: -0.19%
• 1M: -4.16%
• 6M: -4.06%
• YTD: -4.47%
• 1Y: -2.39%
• 3Y*: -1.85%
• 5Y*: -7.90%
• 10Y*: 0.12%
• ALL TIME*: 4.52%

*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)
PRAIX PIMCO Long-Term Real Return Fund	$0.00	$0.00	$0.00
RPBAX T. Rowe Price Balanced Fund	$0.00	$0.00	$0.00

RPBAX vs. PRAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RPBAX T. Rowe Price Balanced Fund	6.07%	16.06%	11.71%	18.01%	-17.28%	13.29%	14.54%	20.75%	-4.89%	12.58%
PRAIX PIMCO Long-Term Real Return Fund	-4.47%	5.26%	-4.11%	0.14%	-33.83%	7.21%	27.16%	19.62%	-6.49%	8.84%

Correlation

The correlation between RPBAX and PRAIX is 0.45, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.45
Correlation (3Y) Balances recent behavior with more history.	0.41
Correlation (5Y) Shows whether the relationship held over a longer period.	0.31
Correlation (10Y) Provides a long-term view across more market conditions.	0.15
Correlation (All Time) Calculated using the full available price history since Jan 2, 2002	-0.01

The correlation between RPBAX and PRAIX shifts across timeframes, from -0.01 (all time) to 0.45 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

RPBAX vs. PRAIX — Risk / Return Rank

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

RPBAX

RPBAX Risk / Return Rank: 63
RPBAX Sharpe Ratio Rank: 65
RPBAX Sortino Ratio Rank: 65
RPBAX Omega Ratio Rank: 63
RPBAX Calmar Ratio Rank: 55
RPBAX Martin Ratio Rank: 67

PRAIX

PRAIX Risk / Return Rank: 3
PRAIX Sharpe Ratio Rank: 3
PRAIX Sortino Ratio Rank: 3
PRAIX Omega Ratio Rank: 3
PRAIX Calmar Ratio Rank: 3
PRAIX Martin Ratio Rank: 3

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.

RPBAX vs. PRAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Balanced Fund (RPBAX) and PIMCO Long-Term Real Return Fund (PRAIX). 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.

	RPBAX	PRAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	-0.16	+1.66
Sortino ratio: Return per unit of downside risk	2.17	-0.16	+2.33
Omega ratio: Gain probability vs. loss probability	1.27	0.98	+0.29
Calmar ratio: Return relative to maximum drawdown	1.89	-0.18	+2.07
Martin ratio: Return relative to average drawdown	8.17	-0.38	+8.55

RPBAX vs. PRAIX - Sharpe Ratio Comparison

The current RPBAX Sharpe Ratio is 1.50, which is higher than the PRAIX Sharpe Ratio of -0.16. The chart below compares the historical Sharpe Ratios of RPBAX and PRAIX, 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

RPBAX vs. PRAIX - Drawdown Comparison

The maximum RPBAX drawdown since its inception was -40.79%, smaller than the maximum PRAIX drawdown of -43.52%. Use the drawdown chart below to compare losses from any high point for RPBAX and PRAIX.

Drawdown Indicators

	RPBAX	PRAIX	Difference
Max Drawdown Largest peak-to-trough decline	-40.79%	-43.52%	+2.73%
Max Drawdown (1Y) Largest decline over 1 year	-7.15%	-8.27%	+1.12%
Max Drawdown (3Y) Largest decline over 3 years	-10.43%	-13.03%	+2.60%
Max Drawdown (5Y) Largest decline over 5 years	-23.45%	-43.52%	+20.07%
Max Drawdown (10Y) Largest decline over 10 years	-25.49%	-43.52%	+18.03%
Current Drawdown Current decline from peak	-0.76%	-37.14%	+36.38%
Average Drawdown Average peak-to-trough decline	-4.13%	-10.41%	+6.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.65%	3.86%	-2.21%

Volatility

RPBAX vs. PRAIX - Volatility Comparison

T. Rowe Price Balanced Fund (RPBAX) has a higher volatility of 2.49% compared to PIMCO Long-Term Real Return Fund (PRAIX) at 2.10%. This indicates that RPBAX's price experiences larger fluctuations and is considered to be riskier than PRAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RPBAX	PRAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.49%	2.10%	+0.39%
Volatility (6M) Calculated over the trailing 6-month period	7.60%	7.00%	+0.60%
Volatility (1Y) Calculated over the trailing 1-year period	9.00%	9.27%	-0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.06%	16.28%	-5.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.59%	14.96%	-3.37%

RPBAX vs. PRAIX - Expense Ratio Comparison

RPBAX has a 0.61% expense ratio, which is higher than PRAIX's 0.50% expense ratio.

Dividends

RPBAX vs. PRAIX - Dividend Comparison

RPBAX's dividend yield for the trailing twelve months is around 6.96%, more than PRAIX's 6.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PRAIX PIMCO Long-Term Real Return Fund	6.54%	5.72%	4.64%	4.75%	12.40%	15.85%	37.88%	7.20%	3.06%	2.76%	1.54%	2.05%
RPBAX T. Rowe Price Balanced Fund	6.96%	7.30%	7.28%	3.80%	5.03%	9.33%	4.59%	3.41%	8.42%	1.69%	2.96%	7.32%

Frequently Asked Questions

Can I hold both RPBAX and PRAIX in my portfolio?

RPBAX and PRAIX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RPBAX or PRAIX?

RPBAX has higher volatility (2.49%) compared to PRAIX (2.10%). In terms of maximum drawdown, RPBAX dropped -40.79% vs PRAIX's -43.52%.

Which has better risk-adjusted returns?

RPBAX currently has the higher Sharpe Ratio (1.50 vs -0.16), 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.