TBLYX vs. VT

Last updated Jun 13, 2026

TBLYX (T. Rowe Price Retirement Blend 2035 Fund) and VT (Vanguard Total World Stock ETF) are both funds - TBLYX is a Target Retirement Date fund actively managed by T. Rowe Price, while VT is a Global Equities fund tracking the FTSE Global All Cap Index. TBLYX is actively managed, while VT is passively managed. Over the past 3 years, TBLYX returned 15.45%/yr vs 19.71%/yr for VT. With a 0.97 correlation, they move nearly in lockstep. TBLYX charges 0.40%/yr vs 0.06%/yr for VT.

Performance

TBLYX vs. VT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Retirement Blend 2035 Fund (TBLYX) and Vanguard Total World Stock ETF (VT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TBLYX achieves a 7.90% return, which is significantly lower than VT's 11.06% return.

TBLYX

• 1D: 1.86%
• 1M: 0.08%
• YTD: 7.90%
• 6M: 8.49%
• 1Y: 19.16%
• 3Y*: 15.45%
• 5Y*: —
• 10Y*: —

VT

• 1D: 0.44%
• 1M: 0.57%
• YTD: 11.06%
• 6M: 11.82%
• 1Y: 25.83%
• 3Y*: 19.71%
• 5Y*: 10.65%
• 10Y*: 12.93%

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

TBLYX vs. VT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TBLYX T. Rowe Price Retirement Blend 2035 Fund	7.90%	17.30%	12.43%	18.44%	-17.17%	4.09%
VT Vanguard Total World Stock ETF	11.06%	22.43%	16.49%	22.02%	-18.00%	3.65%

Correlation

The correlation between TBLYX and VT is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jul 30, 2021	0.97

The correlation between TBLYX and VT has been stable across timeframes, ranging from 0.97 to 0.99 - a consistent structural relationship.

Return for Risk

TBLYX vs. VT — Risk / Return Rank

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

TBLYX

TBLYX Risk / Return Rank: 64
TBLYX Sharpe Ratio Rank: 63
TBLYX Sortino Ratio Rank: 62
TBLYX Omega Ratio Rank: 64
TBLYX Calmar Ratio Rank: 60
TBLYX Martin Ratio Rank: 70

VT

VT Risk / Return Rank: 68
VT Sharpe Ratio Rank: 69
VT Sortino Ratio Rank: 68
VT Omega Ratio Rank: 69
VT Calmar Ratio Rank: 62
VT Martin Ratio Rank: 72

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.

TBLYX vs. VT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement Blend 2035 Fund (TBLYX) and Vanguard Total World Stock ETF (VT). 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	VT	Difference
Sharpe ratio: Return per unit of total volatility	1.90	1.94	-0.04
Sortino ratio: Return per unit of downside risk	2.66	2.67	-0.01
Omega ratio: Gain probability vs. loss probability	1.36	1.35	0.00
Calmar ratio: Return relative to maximum drawdown	2.51	2.68	-0.17
Martin ratio: Return relative to average drawdown	10.93	11.67	-0.74

TBLYX vs. VT - Sharpe Ratio Comparison

The current TBLYX Sharpe Ratio is 1.90, which is comparable to the VT Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of TBLYX and VT, 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

TBLYX vs. VT - Drawdown Comparison

The maximum TBLYX drawdown since its inception was -24.54%, smaller than the maximum VT drawdown of -50.27%. Use the drawdown chart below to compare losses from any high point for TBLYX and VT.

Drawdown Indicators

	TBLYX	VT	Difference
Max Drawdown Largest peak-to-trough decline	-24.54%	-50.27%	+25.73%
Max Drawdown (1Y) Largest decline over 1 year	-7.83%	-9.67%	+1.84%
Max Drawdown (3Y) Largest decline over 3 years	-13.02%	-16.51%	+3.49%
Max Drawdown (5Y) Largest decline over 5 years	—	-26.38%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-34.24%	—
Current Drawdown Current decline from peak	-1.58%	-1.92%	+0.34%
Average Drawdown Average peak-to-trough decline	-6.07%	-7.01%	+0.94%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.80%	2.22%	-0.42%

Volatility

TBLYX vs. VT - Volatility Comparison

The current volatility for T. Rowe Price Retirement Blend 2035 Fund (TBLYX) is 4.08%, while Vanguard Total World Stock ETF (VT) has a volatility of 5.26%. This indicates that TBLYX experiences smaller price fluctuations and is considered to be less risky than VT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TBLYX	VT	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.08%	5.26%	-1.18%
Volatility (6M) Calculated over the trailing 6-month period	8.52%	11.01%	-2.49%
Volatility (1Y) Calculated over the trailing 1-year period	10.34%	13.38%	-3.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.11%	16.15%	-3.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.11%	17.27%	-4.16%

TBLYX vs. VT - Expense Ratio Comparison

TBLYX has a 0.40% expense ratio, which is higher than VT's 0.06% expense ratio.

Dividends

TBLYX vs. VT - Dividend Comparison

TBLYX's dividend yield for the trailing twelve months is around 2.32%, more than VT's 1.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TBLYX T. Rowe Price Retirement Blend 2035 Fund	2.32%	2.50%	2.05%	1.94%	2.18%	1.40%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VT Vanguard Total World Stock ETF	1.61%	1.82%	1.95%	2.08%	2.20%	1.82%	1.66%	2.32%	2.53%	2.11%	2.39%	2.45%

Frequently Asked Questions

Can I hold both TBLYX and VT in my portfolio?

With a correlation of 0.99, TBLYX and VT 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, TBLYX or VT?

VT has higher volatility (5.26%) compared to TBLYX (4.08%). In terms of maximum drawdown, TBLYX dropped -24.54% vs VT's -50.27%.

Which has better risk-adjusted returns?

VT currently has the higher Sharpe Ratio (1.94 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.