TRRAX vs. ^GSPC

Last updated Apr 2, 2026

Compare and contrast key facts about T. Rowe Price Retirement 2010 Fund (TRRAX) and S&P 500 Index (^GSPC).

TRRAX is managed by T. Rowe Price. It was launched on Sep 29, 2002.

Performance

TRRAX vs. ^GSPC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Retirement 2010 Fund (TRRAX) and S&P 500 Index (^GSPC). The values are adjusted to include any dividend payments, if applicable.

TRRAX vs. ^GSPC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRRAX T. Rowe Price Retirement 2010 Fund	-0.44%	11.77%	8.48%	12.49%	-13.94%	8.87%	11.90%	16.17%	-3.66%	11.67%
^GSPC S&P 500 Index	-3.84%	16.39%	23.31%	24.23%	-19.44%	26.89%	16.26%	28.88%	-6.24%	19.42%

Returns By Period

In the year-to-date period, TRRAX achieves a -0.44% return, which is significantly higher than ^GSPC's -3.84% return. Over the past 10 years, TRRAX has underperformed ^GSPC with an annualized return of 6.20%, while ^GSPC has yielded a comparatively higher 12.29% annualized return.

TRRAX

• 1D: 1.34%
• 1M: -3.45%
• YTD: -0.44%
• 6M: 1.08%
• 1Y: 9.62%
• 3Y*: 9.20%
• 5Y*: 4.33%
• 10Y*: 6.20%

^GSPC

• 1D: 0.11%
• 1M: -3.43%
• YTD: -3.84%
• 6M: -1.98%
• 1Y: 16.08%
• 3Y*: 16.86%
• 5Y*: 10.37%
• 10Y*: 12.29%

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

Return for Risk

TRRAX vs. ^GSPC — Risk / Return Rank

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

TRRAX

TRRAX Risk / Return Rank: 68
TRRAX Sharpe Ratio Rank: 69
TRRAX Sortino Ratio Rank: 71
TRRAX Omega Ratio Rank: 70
TRRAX Calmar Ratio Rank: 63
TRRAX Martin Ratio Rank: 69

^GSPC

^GSPC Risk / Return Rank: 58
^GSPC Sharpe Ratio Rank: 52
^GSPC Sortino Ratio Rank: 55
^GSPC Omega Ratio Rank: 59
^GSPC Calmar Ratio Rank: 52
^GSPC Martin Ratio Rank: 71

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.

TRRAX vs. ^GSPC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement 2010 Fund (TRRAX) and S&P 500 Index (^GSPC). 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.

	TRRAX	^GSPC	Difference
Sharpe ratio Return per unit of total volatility	1.31	0.88	+0.42
Sortino ratio Return per unit of downside risk	1.86	1.37	+0.49
Omega ratio Gain probability vs. loss probability	1.28	1.21	+0.07
Calmar ratio Return relative to maximum drawdown	1.62	1.39	+0.23
Martin ratio Return relative to average drawdown	7.01	6.43	+0.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRRAX vs. ^GSPC - Sharpe Ratio Comparison

The current TRRAX Sharpe Ratio is 1.31, which is higher than the ^GSPC Sharpe Ratio of 0.88. The chart below compares the historical Sharpe Ratios of TRRAX and ^GSPC, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TRRAX	^GSPC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.31	0.88	+0.42
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.54	0.62	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.68	+0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.68	0.46	+0.23

Correlation

The correlation between TRRAX and ^GSPC is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Drawdowns

TRRAX vs. ^GSPC - Drawdown Comparison

The maximum TRRAX drawdown since its inception was -38.81%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for TRRAX and ^GSPC.

Drawdown Indicators

	TRRAX	^GSPC	Difference
Max Drawdown Largest peak-to-trough decline	-38.81%	-56.78%	+17.97%
Max Drawdown (1Y) Largest decline over 1 year	-5.77%	-9.10%	+3.33%
Max Drawdown (5Y) Largest decline over 5 years	-19.40%	-25.43%	+6.03%
Max Drawdown (10Y) Largest decline over 10 years	-19.61%	-33.92%	+14.31%
Current Drawdown Current decline from peak	-3.80%	-5.67%	+1.87%
Average Drawdown Average peak-to-trough decline	-3.94%	-10.75%	+6.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.33%	2.62%	-1.29%

Volatility

TRRAX vs. ^GSPC - Volatility Comparison

The current volatility for T. Rowe Price Retirement 2010 Fund (TRRAX) is 3.06%, while S&P 500 Index (^GSPC) has a volatility of 5.29%. This indicates that TRRAX experiences smaller price fluctuations and is considered to be less risky than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRRAX	^GSPC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	5.29%	-2.23%
Volatility (6M) Calculated over the trailing 6-month period	4.66%	9.55%	-4.89%
Volatility (1Y) Calculated over the trailing 1-year period	7.63%	18.33%	-10.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.01%	16.90%	-8.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.84%	18.04%	-10.20%