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TRRIX vs. GLDM
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TRRIX vs. GLDM

Last updated Jun 13, 2026

TRRIX (T. Rowe Price Retirement Balanced Fund) and GLDM (SPDR Gold MiniShares Trust) are both funds - TRRIX is a Diversified Portfolio fund managed by T. Rowe Price, while GLDM is a Gold fund tracking the LBMA Gold Price PM. Over the past 5 years, TRRIX returned 4.83%/yr vs 17.41%/yr for GLDM. At a 0.23 correlation, their price movements are largely independent. TRRIX charges 0.49%/yr vs 0.10%/yr for GLDM.

Performance

TRRIX vs. GLDM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Retirement Balanced Fund (TRRIX) and SPDR Gold MiniShares Trust (GLDM). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, TRRIX achieves a 4.46% return, which is significantly higher than GLDM's -2.40% return.

TRRIX

1D
1.04%
1M
0.79%
YTD
4.46%
6M
5.00%
1Y
11.79%
3Y*
10.52%
5Y*
4.83%
10Y*
6.61%

GLDM

1D
0.11%
1M
-7.40%
YTD
-2.40%
6M
-2.09%
1Y
22.58%
3Y*
29.27%
5Y*
17.41%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

TRRIX vs. GLDM - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
TRRIX
T. Rowe Price Retirement Balanced Fund		4.46%11.02%9.96%11.57%-13.16%8.63%11.48%15.32%-3.24%
GLDM
SPDR Gold MiniShares Trust		-2.40%64.20%27.08%13.04%-0.47%-4.01%25.10%18.10%1.75%

Correlation

The correlation between TRRIX and GLDM is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.32

Correlation (3Y)
Calculated over the trailing 3-year period

0.29

Correlation (5Y)
Calculated over the trailing 5-year period

0.29

Correlation (All Time)
Calculated using the full available price history since Jun 26, 2018

0.23

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T. Rowe Price Retirement Balanced Fund

SPDR Gold MiniShares Trust

Often compared with TRRIX:
TRRIX vs. PRWCXTRRIX vs. FBALXTRRIX vs. FXAIXTRRIX vs. SPYTRRIX vs. SCHGTRRIX vs. ONEX.TOTRRIX vs. TRRHX
Often compared with GLDM:
GLDM vs. GLDGLDM vs. IAUGLDM vs. IAUMGLDM vs. GDXGLDM vs. SGOLGLDM vs. VOOGLDM vs. SPY

Return for Risk

TRRIX vs. GLDM — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
TRRIX
TRRIX Risk / Return Rank: 6767
Overall Rank
TRRIX Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
TRRIX Sortino Ratio Rank: 6969
Sortino Ratio Rank
TRRIX Omega Ratio Rank: 7272
Omega Ratio Rank
TRRIX Calmar Ratio Rank: 6060
Calmar Ratio Rank
TRRIX Martin Ratio Rank: 6565
Martin Ratio Rank
GLDM
GLDM Risk / Return Rank: 2727
Overall Rank
GLDM Sharpe Ratio Rank: 2828
Sharpe Ratio Rank
GLDM Sortino Ratio Rank: 2525
Sortino Ratio Rank
GLDM Omega Ratio Rank: 3131
Omega Ratio Rank
GLDM Calmar Ratio Rank: 2424
Calmar Ratio Rank
GLDM Martin Ratio Rank: 2525
Martin Ratio Rank
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.

TRRIX vs. GLDM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement Balanced Fund (TRRIX) and SPDR Gold MiniShares Trust (GLDM). 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.

TRRIXGLDMDifference
Sharpe ratioReturn per unit of total volatility
1.89
0.90

+1.00

Sortino ratioReturn per unit of downside risk
2.74
1.26

+1.48

Omega ratioGain probability vs. loss probability

1.37

1.19

+0.19

Calmar ratioReturn relative to maximum drawdown

2.43

1.00

+1.44

Martin ratioReturn relative to average drawdown

10.06

2.87

+7.19

TRRIX vs. GLDM - Sharpe Ratio Comparison

The current TRRIX Sharpe Ratio is 1.89, which is higher than the GLDM Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of TRRIX and GLDM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

TRRIX vs. GLDM - Drawdown Comparison

The maximum TRRIX drawdown since its inception was -27.77%, which is greater than GLDM's maximum drawdown of -24.35%. Use the drawdown chart below to compare losses from any high point for TRRIX and GLDM.

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Drawdown Indicators

TRRIXGLDMDifference

Max Drawdown

Largest peak-to-trough decline

-27.77%

-24.35%

-3.42%

Max Drawdown (1Y)

Largest decline over 1 year

-4.85%

-24.35%

+19.50%

Max Drawdown (3Y)

Largest decline over 3 years

-6.10%

-24.35%

+18.25%

Max Drawdown (5Y)

Largest decline over 5 years

-18.13%

-24.35%

+6.22%

Max Drawdown (10Y)

Largest decline over 10 years

-18.57%

—

—

Current Drawdown

Current decline from peak

-0.95%

-21.96%

+21.01%

Average Drawdown

Average peak-to-trough decline

-2.83%

-6.27%

+3.44%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.16%

8.44%

-7.28%

Volatility

TRRIX vs. GLDM - Volatility Comparison

The current volatility for T. Rowe Price Retirement Balanced Fund (TRRIX) is 2.45%, while SPDR Gold MiniShares Trust (GLDM) has a volatility of 7.73%. This indicates that TRRIX experiences smaller price fluctuations and is considered to be less risky than GLDM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

TRRIXGLDMDifference

Volatility (1M)

Calculated over the trailing 1-month period

2.45%

7.73%

-5.28%

Volatility (6M)

Calculated over the trailing 6-month period

5.24%

23.93%

-18.69%

Volatility (1Y)

Calculated over the trailing 1-year period

6.24%

27.15%

-20.91%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

7.15%

18.13%

-10.98%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

7.24%

16.98%

-9.74%

TRRIX vs. GLDM - Expense Ratio Comparison

TRRIX has a 0.49% expense ratio, which is higher than GLDM's 0.10% expense ratio.

Dividends

TRRIX vs. GLDM - Dividend Comparison

TRRIX's dividend yield for the trailing twelve months is around 4.68%, while GLDM has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018201720162015
GLDM
SPDR Gold MiniShares Trust		0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
TRRIX
T. Rowe Price Retirement Balanced Fund		4.68%4.86%5.78%4.32%10.15%12.67%9.27%3.39%7.01%5.07%3.40%3.44%

Frequently Asked Questions

TRRIX and GLDM have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

GLDM has higher volatility (7.73%) compared to TRRIX (2.45%). In terms of maximum drawdown, TRRIX dropped -27.77% vs GLDM's -24.35%.

TRRIX currently has the higher Sharpe Ratio (1.89 vs 0.90), 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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