TBLYX vs. PRCHX
TBLYX (T. Rowe Price Retirement Blend 2035 Fund) and PRCHX (T. Rowe Price Capital Appreciation and Income Fund Class I) are both mutual funds - TBLYX is a Target Retirement Date fund actively managed by T. Rowe Price, while PRCHX is a Diversified Portfolio fund actively managed by T. Rowe Price. Both are actively managed. Over the past year, TBLYX returned 19.16% vs 11.41% for PRCHX. Their correlation of 0.88 suggests significant overlap in exposure. TBLYX charges 0.40%/yr vs 0.49%/yr for PRCHX.
Performance
TBLYX vs. PRCHX - Performance Comparison
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Returns By Period
In the year-to-date period, TBLYX achieves a 7.90% return, which is significantly higher than PRCHX's 2.61% return.
TBLYX
- 1D
- 1.86%
- 1M
- 0.08%
- YTD
- 7.90%
- 6M
- 8.49%
- 1Y
- 19.16%
- 3Y*
- 15.45%
- 5Y*
- —
- 10Y*
- —
PRCHX
- 1D
- 0.68%
- 1M
- -0.41%
- YTD
- 2.61%
- 6M
- 3.48%
- 1Y
- 11.41%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TBLYX vs. PRCHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
TBLYX T. Rowe Price Retirement Blend 2035 Fund | 7.90% | 17.30% | 12.43% | 5.36% |
PRCHX T. Rowe Price Capital Appreciation and Income Fund Class I | 2.61% | 13.68% | 8.92% | 3.12% |
Correlation
The correlation between TBLYX and PRCHX is 0.88, 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 | 0.88 |
Correlation (All Time) Calculated using the full available price history since Nov 30, 2023 | 0.88 |
The correlation between TBLYX and PRCHX has been stable across timeframes, ranging from 0.88 to 0.88 - a consistent structural relationship.
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Return for Risk
TBLYX vs. PRCHX — Risk / Return Rank
TBLYX
PRCHX
TBLYX vs. PRCHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement Blend 2035 Fund (TBLYX) and T. Rowe Price Capital Appreciation and Income Fund Class I (PRCHX). 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.
| TBLYX | PRCHX | 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 | 1.36 | 1.41 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.51 | 2.63 | -0.12 |
| Martin ratioReturn relative to average drawdown | 10.93 | 12.99 | -2.06 |
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Drawdowns
TBLYX vs. PRCHX - Drawdown Comparison
The maximum TBLYX drawdown since its inception was -24.54%, which is greater than PRCHX's maximum drawdown of -6.10%. Use the drawdown chart below to compare losses from any high point for TBLYX and PRCHX.
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Drawdown Indicators
| TBLYX | PRCHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.54% | -6.10% | -18.44% |
Max Drawdown (1Y)Largest decline over 1 year | -7.83% | -4.50% | -3.33% |
Max Drawdown (3Y)Largest decline over 3 years | -13.02% | — | — |
Current DrawdownCurrent decline from peak | -1.58% | -1.37% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -6.07% | -0.65% | -5.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.80% | 0.91% | +0.89% |
Volatility
TBLYX vs. PRCHX - Volatility Comparison
T. Rowe Price Retirement Blend 2035 Fund (TBLYX) has a higher volatility of 4.08% compared to T. Rowe Price Capital Appreciation and Income Fund Class I (PRCHX) at 2.18%. This indicates that TBLYX's price experiences larger fluctuations and is considered to be riskier than PRCHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TBLYX | PRCHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.08% | 2.18% | +1.90% |
Volatility (6M)Calculated over the trailing 6-month period | 8.52% | 4.44% | +4.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.34% | 5.46% | +4.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.11% | 6.56% | +6.55% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.11% | 6.56% | +6.55% |
TBLYX vs. PRCHX - Expense Ratio Comparison
TBLYX has a 0.40% expense ratio, which is lower than PRCHX's 0.49% expense ratio.
Dividends
TBLYX vs. PRCHX - Dividend Comparison
TBLYX's dividend yield for the trailing twelve months is around 2.32%, less than PRCHX's 5.20% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
PRCHX T. Rowe Price Capital Appreciation and Income Fund Class I | 5.20% | 5.08% | 3.22% | 0.27% | 0.00% | 0.00% |
TBLYX T. Rowe Price Retirement Blend 2035 Fund | 2.32% | 2.50% | 2.05% | 1.94% | 2.18% | 1.40% |
Frequently Asked Questions
TBLYX and PRCHX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TBLYX has higher volatility (4.08%) compared to PRCHX (2.18%). In terms of maximum drawdown, TBLYX dropped -24.54% vs PRCHX's -6.10%.
PRCHX currently has the higher Sharpe Ratio (2.16 vs 1.90), 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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