TRIKX vs. VOO

Last updated Jun 5, 2026

TRIKX (T. Rowe Price Retirement 2045 Fund Class I) and VOO (Vanguard S&P 500 ETF) are both funds - TRIKX is a Target Retirement Date fund tracking the S&P Target Date 2045, while VOO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past year, TRIKX returned 24.59% vs 28.62% for VOO. Their correlation of 0.92 suggests significant overlap in exposure. TRIKX charges 0.43%/yr vs 0.03%/yr for VOO.

Performance

TRIKX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Retirement 2045 Fund Class I (TRIKX) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRIKX achieves a 10.70% return, which is significantly lower than VOO's 11.34% return.

TRIKX

• 1D: -0.71%
• 1M: 2.96%
• YTD: 10.70%
• 6M: 11.15%
• 1Y: 24.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

VOO

• 1D: 0.39%
• 1M: 4.62%
• YTD: 11.34%
• 6M: 11.27%
• 1Y: 28.62%
• 3Y*: 22.68%
• 5Y*: 13.98%
• 10Y*: 15.55%

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

TRIKX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
TRIKX T. Rowe Price Retirement 2045 Fund Class I	10.70%	18.71%	14.23%	7.04%
VOO Vanguard S&P 500 ETF	11.34%	17.82%	24.98%	6.40%

Correlation

The correlation between TRIKX and VOO is 0.94, 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	0.94
Correlation (All Time) Calculated using the full available price history since Nov 15, 2023	0.92

The correlation between TRIKX and VOO has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

TRIKX vs. VOO — Risk / Return Rank

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

TRIKX

TRIKX Risk / Return Rank: 55
TRIKX Sharpe Ratio Rank: 56
TRIKX Sortino Ratio Rank: 53
TRIKX Omega Ratio Rank: 56
TRIKX Calmar Ratio Rank: 50
TRIKX Martin Ratio Rank: 60

VOO

VOO Risk / Return Rank: 74
VOO Sharpe Ratio Rank: 76
VOO Sortino Ratio Rank: 75
VOO Omega Ratio Rank: 75
VOO Calmar Ratio Rank: 66
VOO Martin Ratio Rank: 78

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.

TRIKX vs. VOO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement 2045 Fund Class I (TRIKX) and Vanguard S&P 500 ETF (VOO). 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.

	TRIKX	VOO	Difference
Sharpe ratio: Return per unit of total volatility	2.14	2.44	-0.30
Sortino ratio: Return per unit of downside risk	2.99	3.31	-0.33
Omega ratio: Gain probability vs. loss probability	1.40	1.44	-0.04
Calmar ratio: Return relative to maximum drawdown	2.62	3.23	-0.61
Martin ratio: Return relative to average drawdown	11.59	15.03	-3.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRIKX vs. VOO - Sharpe Ratio Comparison

The current TRIKX Sharpe Ratio is 2.14, which is comparable to the VOO Sharpe Ratio of 2.44. The chart below compares the historical Sharpe Ratios of TRIKX and VOO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TRIKX	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.14	2.44	-0.30
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.84	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.53	0.89	+0.64

Drawdowns

TRIKX vs. VOO - Drawdown Comparison

The maximum TRIKX drawdown since its inception was -15.16%, smaller than the maximum VOO drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for TRIKX and VOO.

Drawdown Indicators

	TRIKX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-15.16%	-33.99%	+18.83%
Max Drawdown (1Y) Largest decline over 1 year	-9.52%	-8.90%	-0.62%
Max Drawdown (3Y) Largest decline over 3 years	—	-18.69%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.52%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.99%	—
Current Drawdown Current decline from peak	-0.71%	-0.32%	-0.39%
Average Drawdown Average peak-to-trough decline	-1.53%	-3.69%	+2.16%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	1.91%	+0.24%

Volatility

TRIKX vs. VOO - Volatility Comparison

T. Rowe Price Retirement 2045 Fund Class I (TRIKX) has a higher volatility of 3.49% compared to Vanguard S&P 500 ETF (VOO) at 2.78%. This indicates that TRIKX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRIKX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.49%	2.78%	+0.71%
Volatility (6M) Calculated over the trailing 6-month period	9.37%	8.90%	+0.47%
Volatility (1Y) Calculated over the trailing 1-year period	11.65%	11.80%	-0.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.45%	16.81%	-3.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.45%	18.00%	-4.55%

TRIKX vs. VOO - Expense Ratio Comparison

TRIKX has a 0.43% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

TRIKX vs. VOO - Dividend Comparison

TRIKX's dividend yield for the trailing twelve months is around 3.57%, more than VOO's 1.02% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TRIKX T. Rowe Price Retirement 2045 Fund Class I	3.57%	3.95%	2.21%	4.42%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
VOO Vanguard S&P 500 ETF	1.02%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both TRIKX and VOO in my portfolio?

With a correlation of 0.94, TRIKX and VOO 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, TRIKX or VOO?

TRIKX has higher volatility (3.49%) compared to VOO (2.78%). In terms of maximum drawdown, TRIKX dropped -15.16% vs VOO's -33.99%.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.44 vs 2.14), 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.