TRRCX vs. FBALX
TRRCX (T. Rowe Price Retirement 2030 Fund) and FBALX (Fidelity Balanced Fund) are both mutual funds - TRRCX is a Target Retirement Date fund managed by T. Rowe Price, while FBALX is a Diversified Portfolio fund actively managed by Fidelity. Over the past 10 years, TRRCX returned 9.09%/yr vs 11.98%/yr for FBALX. Their correlation of 0.94 suggests significant overlap in exposure. TRRCX charges 0.59%/yr vs 0.46%/yr for FBALX.
Performance
TRRCX vs. FBALX - Performance Comparison
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Returns By Period
In the year-to-date period, TRRCX achieves a 7.50% return, which is significantly lower than FBALX's 9.80% return. Over the past 10 years, TRRCX has underperformed FBALX with an annualized return of 9.09%, while FBALX has yielded a comparatively higher 11.98% annualized return.
TRRCX
- 1D
- -0.13%
- 1M
- 0.98%
- YTD
- 7.50%
- 6M
- 7.11%
- 1Y
- 11.06%
- 3Y*
- 11.59%
- 5Y*
- 5.31%
- 10Y*
- 9.09%
FBALX
- 1D
- -0.37%
- 1M
- 1.03%
- YTD
- 9.80%
- 6M
- 9.32%
- 1Y
- 22.66%
- 3Y*
- 16.25%
- 5Y*
- 9.12%
- 10Y*
- 11.98%
TRRCX vs. FBALX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRRCX T. Rowe Price Retirement 2030 Fund | 7.50% | 8.23% | 10.73% | 16.36% | -16.89% | 13.70% | 15.90% | 22.50% | -6.36% | 19.46% |
FBALX Fidelity Balanced Fund | 9.80% | 15.11% | 16.09% | 20.31% | -18.29% | 18.27% | 22.45% | 24.40% | -3.98% | 16.52% |
Correlation
The correlation between TRRCX and FBALX is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.91 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Oct 1, 2002 | 0.94 |
The correlation between TRRCX and FBALX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
TRRCX vs. FBALX — Risk / Return Rank
TRRCX
FBALX
TRRCX vs. FBALX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement 2030 Fund (TRRCX) and Fidelity Balanced Fund (FBALX). 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.
| TRRCX | FBALX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.38 | ||
| Sortino ratioReturn per unit of downside risk | -1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 1.49 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | 3.65 | -2.14 |
| Martin ratioReturn relative to average drawdown | 4.97 | 17.07 | -12.10 |
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Drawdowns
TRRCX vs. FBALX - Drawdown Comparison
The maximum TRRCX drawdown since its inception was -52.28%, which is greater than FBALX's maximum drawdown of -43.57%. Use the drawdown chart below to compare losses from any high point for TRRCX and FBALX.
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Drawdown Indicators
| TRRCX | FBALX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -52.28% | -43.57% | -8.71% |
Max Drawdown (1Y)Largest decline over 1 year | -7.93% | -6.47% | -1.46% |
Max Drawdown (3Y)Largest decline over 3 years | -10.46% | -12.88% | +2.42% |
Max Drawdown (5Y)Largest decline over 5 years | -24.07% | -22.89% | -1.18% |
Max Drawdown (10Y)Largest decline over 10 years | -28.55% | -26.68% | -1.87% |
Current DrawdownCurrent decline from peak | -0.40% | -0.51% | +0.11% |
Average DrawdownAverage peak-to-trough decline | -6.06% | -4.37% | -1.69% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.38% | 1.38% | +1.00% |
Volatility
TRRCX vs. FBALX - Volatility Comparison
The current volatility for T. Rowe Price Retirement 2030 Fund (TRRCX) is 3.32%, while Fidelity Balanced Fund (FBALX) has a volatility of 3.67%. This indicates that TRRCX experiences smaller price fluctuations and is considered to be less risky than FBALX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRRCX | FBALX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.32% | 3.67% | -0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 8.77% | 7.48% | +1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 9.99% | 9.18% | +0.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.41% | 12.26% | -0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.26% | 12.82% | -0.56% |
TRRCX vs. FBALX - Expense Ratio Comparison
TRRCX has a 0.59% expense ratio, which is higher than FBALX's 0.46% expense ratio.
Dividends
TRRCX vs. FBALX - Dividend Comparison
TRRCX has not paid dividends to shareholders, while FBALX's dividend yield for the trailing twelve months is around 5.16%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FBALX Fidelity Balanced Fund | 5.16% | 5.69% | 5.67% | 2.28% | 8.06% | 9.66% | 5.90% | 4.24% | 10.99% | 7.90% | 3.07% | 7.70% |
TRRCX T. Rowe Price Retirement 2030 Fund | 0.00% | 0.00% | 3.38% | 6.16% | 12.05% | 9.43% | 5.45% | 5.44% | 8.83% | 3.82% | 2.66% | 3.76% |
Frequently Asked Questions
TRRCX and FBALX 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.
FBALX has higher volatility (3.67%) compared to TRRCX (3.32%). In terms of maximum drawdown, TRRCX dropped -52.28% vs FBALX's -43.57%.
FBALX currently has the higher Sharpe Ratio (2.58 vs 1.20), 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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