TRPBX vs. AOBLX

Last updated Aug 1, 2026

TRPBX (T. Rowe Price Spectrum Moderate Allocation Fund) and AOBLX (Victory Pioneer Balanced Fund Class A) are both Diversified Portfolio funds. Over the past 10 years, TRPBX returned 8.38%/yr vs 9.76%/yr for AOBLX. Their correlation of 0.92 means they have usually moved in the same direction. TRPBX charges 0.51%/yr vs 0.93%/yr for AOBLX.

Performance

TRPBX vs. AOBLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Spectrum Moderate Allocation Fund (TRPBX) and Victory Pioneer Balanced Fund Class A (AOBLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRPBX achieves a 6.92% return, which is significantly lower than AOBLX's 11.89% return. Over the past 10 years, TRPBX has underperformed AOBLX with an annualized return of 8.38%, while AOBLX has yielded a comparatively higher 9.76% annualized return.

TRPBX

• 1D: 1.10%
• 1M: -0.34%
• 6M: 4.50%
• YTD: 6.92%
• 1Y: 15.03%
• 3Y*: 11.81%
• 5Y*: 5.51%
• 10Y*: 8.38%
• ALL TIME*: 8.41%

AOBLX

• 1D: 0.93%
• 1M: -1.74%
• 6M: 9.06%
• YTD: 11.89%
• 1Y: 25.87%
• 3Y*: 15.25%
• 5Y*: 8.51%
• 10Y*: 9.76%
• ALL TIME*: 7.73%

*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)
AOBLX Victory Pioneer Balanced Fund Class A	$0.00	$0.00	$0.00
TRPBX T. Rowe Price Spectrum Moderate Allocation Fund	$0.00	$0.00	$0.00

TRPBX vs. AOBLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRPBX T. Rowe Price Spectrum Moderate Allocation Fund	6.92%	14.47%	10.24%	15.08%	-17.10%	10.54%	14.44%	21.61%	-4.46%	16.88%
AOBLX Victory Pioneer Balanced Fund Class A	11.89%	19.59%	9.46%	15.00%	-14.64%	15.10%	13.15%	21.75%	-4.63%	14.99%

Correlation

The correlation between TRPBX and AOBLX is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.90
Correlation (3Y) Balances recent behavior with more history.	0.93
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.93
Correlation (All Time) Calculated using the full available price history since Jun 20, 1996	0.92

The correlation between TRPBX and AOBLX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

TRPBX vs. AOBLX — Risk / Return Rank

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

TRPBX

TRPBX Risk / Return Rank: 68
TRPBX Sharpe Ratio Rank: 69
TRPBX Sortino Ratio Rank: 67
TRPBX Omega Ratio Rank: 70
TRPBX Calmar Ratio Rank: 62
TRPBX Martin Ratio Rank: 74

AOBLX

AOBLX Risk / Return Rank: 92
AOBLX Sharpe Ratio Rank: 93
AOBLX Sortino Ratio Rank: 91
AOBLX Omega Ratio Rank: 86
AOBLX Calmar Ratio Rank: 93
AOBLX Martin Ratio Rank: 96

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.

TRPBX vs. AOBLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Spectrum Moderate Allocation Fund (TRPBX) and Victory Pioneer Balanced Fund Class A (AOBLX). 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.

	TRPBX	AOBLX	Difference
Sharpe ratio: Return per unit of total volatility	1.62	2.46	-0.84
Sortino ratio: Return per unit of downside risk	2.30	3.52	-1.22
Omega ratio: Gain probability vs. loss probability	1.30	1.44	-0.13
Calmar ratio: Return relative to maximum drawdown	2.10	3.88	-1.78
Martin ratio: Return relative to average drawdown	9.08	16.64	-7.56

TRPBX vs. AOBLX - Sharpe Ratio Comparison

The current TRPBX Sharpe Ratio is 1.62, which is lower than the AOBLX Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of TRPBX and AOBLX, 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

TRPBX vs. AOBLX - Drawdown Comparison

The maximum TRPBX drawdown since its inception was -41.62%, which is greater than AOBLX's maximum drawdown of -36.70%. Use the drawdown chart below to compare losses from any high point for TRPBX and AOBLX.

Drawdown Indicators

	TRPBX	AOBLX	Difference
Max Drawdown Largest peak-to-trough decline	-41.62%	-36.70%	-4.92%
Max Drawdown (1Y) Largest decline over 1 year	-6.72%	-6.42%	-0.30%
Max Drawdown (3Y) Largest decline over 3 years	-9.73%	-13.52%	+3.79%
Max Drawdown (5Y) Largest decline over 5 years	-23.21%	-20.48%	-2.73%
Max Drawdown (10Y) Largest decline over 10 years	-24.55%	-24.31%	-0.24%
Current Drawdown Current decline from peak	-0.90%	-2.42%	+1.52%
Average Drawdown Average peak-to-trough decline	-4.12%	-3.80%	-0.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.55%	1.49%	+0.06%

Volatility

TRPBX vs. AOBLX - Volatility Comparison

T. Rowe Price Spectrum Moderate Allocation Fund (TRPBX) and Victory Pioneer Balanced Fund Class A (AOBLX) have volatilities of 2.39% and 2.39%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRPBX	AOBLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.39%	2.39%	0.00%
Volatility (6M) Calculated over the trailing 6-month period	7.35%	7.96%	-0.61%
Volatility (1Y) Calculated over the trailing 1-year period	8.71%	10.14%	-1.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.02%	11.16%	-1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.52%	11.34%	-0.82%

TRPBX vs. AOBLX - Expense Ratio Comparison

TRPBX has a 0.51% expense ratio, which is lower than AOBLX's 0.93% expense ratio.

Dividends

TRPBX vs. AOBLX - Dividend Comparison

TRPBX's dividend yield for the trailing twelve months is around 7.90%, more than AOBLX's 3.23% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AOBLX Victory Pioneer Balanced Fund Class A	3.23%	3.48%	2.28%	1.52%	2.97%	8.33%	4.31%	5.78%	9.70%	9.22%	2.51%	3.97%
TRPBX T. Rowe Price Spectrum Moderate Allocation Fund	7.90%	8.46%	6.87%	3.09%	7.38%	9.57%	4.90%	5.41%	8.82%	5.40%	2.76%	6.89%

Frequently Asked Questions

Can I hold both TRPBX and AOBLX in my portfolio?

TRPBX and AOBLX have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRPBX or AOBLX?

AOBLX has higher volatility (2.39%) compared to TRPBX (2.39%). In terms of maximum drawdown, TRPBX dropped -41.62% vs AOBLX's -36.70%.

Which has better risk-adjusted returns?

AOBLX currently has the higher Sharpe Ratio (2.46 vs 1.62), 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.