TRRGX vs. VTWNX
TRRGX (T. Rowe Price Retirement 2015 Fund) and VTWNX (Vanguard Target Retirement 2020 Fund) are both Target Retirement Date funds. Over the past 10 years, TRRGX returned 6.76%/yr vs 6.98%/yr for VTWNX. With a 0.98 correlation, they move nearly in lockstep. TRRGX charges 0.51%/yr vs 0.08%/yr for VTWNX.
Performance
TRRGX vs. VTWNX - Performance Comparison
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Returns By Period
In the year-to-date period, TRRGX achieves a 5.77% return, which is significantly higher than VTWNX's 4.74% return. Both investments have delivered pretty close results over the past 10 years, with TRRGX having a 6.76% annualized return and VTWNX not far ahead at 6.98%.
TRRGX
- 1D
- -0.14%
- 1M
- 0.79%
- YTD
- 5.77%
- 6M
- 5.53%
- 1Y
- 7.55%
- 3Y*
- 9.17%
- 5Y*
- 4.07%
- 10Y*
- 6.76%
VTWNX
- 1D
- -0.17%
- 1M
- 0.91%
- YTD
- 4.74%
- 6M
- 4.58%
- 1Y
- 12.10%
- 3Y*
- 10.31%
- 5Y*
- 4.71%
- 10Y*
- 6.98%
TRRGX vs. VTWNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRRGX T. Rowe Price Retirement 2015 Fund | 5.77% | 6.04% | 8.85% | 13.01% | -14.10% | 9.65% | 12.56% | 17.41% | -4.24% | 13.36% |
VTWNX Vanguard Target Retirement 2020 Fund | 4.74% | 12.17% | 7.57% | 12.71% | -14.17% | 8.15% | 12.05% | 17.64% | -4.23% | 11.83% |
Correlation
The correlation between TRRGX and VTWNX 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 (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Jun 7, 2006 | 0.98 |
The correlation between TRRGX and VTWNX has been stable across timeframes, ranging from 0.93 to 0.98 - a consistent structural relationship.
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Return for Risk
TRRGX vs. VTWNX — Risk / Return Rank
TRRGX
VTWNX
TRRGX vs. VTWNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement 2015 Fund (TRRGX) and Vanguard Target Retirement 2020 Fund (VTWNX). 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.
| TRRGX | VTWNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.26 | ||
| Sortino ratioReturn per unit of downside risk | -2.00 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.44 | -0.22 |
| Calmar ratioReturn relative to maximum drawdown | 1.12 | 2.85 | -1.72 |
| Martin ratioReturn relative to average drawdown | 3.30 | 12.24 | -8.94 |
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Drawdowns
TRRGX vs. VTWNX - Drawdown Comparison
The maximum TRRGX drawdown since its inception was -43.17%, roughly equal to the maximum VTWNX drawdown of -42.16%. Use the drawdown chart below to compare losses from any high point for TRRGX and VTWNX.
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Drawdown Indicators
| TRRGX | VTWNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.17% | -42.16% | -1.01% |
Max Drawdown (1Y)Largest decline over 1 year | -7.30% | -4.43% | -2.87% |
Max Drawdown (3Y)Largest decline over 3 years | -7.47% | -6.20% | -1.27% |
Max Drawdown (5Y)Largest decline over 5 years | -19.89% | -19.38% | -0.51% |
Max Drawdown (10Y)Largest decline over 10 years | -21.31% | -19.38% | -1.93% |
Current DrawdownCurrent decline from peak | -0.42% | -0.35% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -4.62% | -4.79% | +0.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.45% | 1.03% | +1.42% |
Volatility
TRRGX vs. VTWNX - Volatility Comparison
T. Rowe Price Retirement 2015 Fund (TRRGX) has a higher volatility of 2.61% compared to Vanguard Target Retirement 2020 Fund (VTWNX) at 2.23%. This indicates that TRRGX's price experiences larger fluctuations and is considered to be riskier than VTWNX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRRGX | VTWNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.61% | 2.23% | +0.38% |
Volatility (6M)Calculated over the trailing 6-month period | 7.61% | 4.74% | +2.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.42% | 5.64% | +2.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 8.71% | 7.44% | +1.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.70% | 8.29% | +0.41% |
TRRGX vs. VTWNX - Expense Ratio Comparison
TRRGX has a 0.51% expense ratio, which is higher than VTWNX's 0.08% expense ratio.
Dividends
TRRGX vs. VTWNX - Dividend Comparison
TRRGX has not paid dividends to shareholders, while VTWNX's dividend yield for the trailing twelve months is around 7.83%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TRRGX T. Rowe Price Retirement 2015 Fund | 0.00% | 0.00% | 4.00% | 5.52% | 12.45% | 11.34% | 9.02% | 5.24% | 10.35% | 7.28% | 1.62% | 3.07% |
VTWNX Vanguard Target Retirement 2020 Fund | 7.83% | 8.20% | 9.35% | 6.20% | 4.99% | 19.57% | 6.28% | 3.54% | 4.94% | 0.73% | 2.74% | 4.15% |
Frequently Asked Questions
With a correlation of 0.94, TRRGX and VTWNX 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.
TRRGX has higher volatility (2.61%) compared to VTWNX (2.23%). In terms of maximum drawdown, TRRGX dropped -43.17% vs VTWNX's -42.16%.
VTWNX currently has the higher Sharpe Ratio (2.24 vs 0.98), 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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