TRRIX vs. PREIX

Last updated Jun 5, 2026

TRRIX (T. Rowe Price Retirement Balanced Fund) and PREIX (T. Rowe Price Equity Index 500 Fund) are both mutual funds - TRRIX is a Diversified Portfolio fund managed by T. Rowe Price, while PREIX is a Large Cap Blend Equities fund managed by T. Rowe Price. Over the past 10 years, TRRIX returned 6.63%/yr vs 15.33%/yr for PREIX. Their correlation of 0.89 suggests significant overlap in exposure. TRRIX charges 0.49%/yr vs 0.15%/yr for PREIX.

Performance

TRRIX vs. PREIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Retirement Balanced Fund (TRRIX) and T. Rowe Price Equity Index 500 Fund (PREIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TRRIX achieves a 5.10% return, which is significantly lower than PREIX's 10.79% return. Over the past 10 years, TRRIX has underperformed PREIX with an annualized return of 6.63%, while PREIX has yielded a comparatively higher 15.33% annualized return.

TRRIX

• 1D: -0.34%
• 1M: 1.42%
• YTD: 5.10%
• 6M: 4.69%
• 1Y: 12.40%
• 3Y*: 10.90%
• 5Y*: 5.01%
• 10Y*: 6.63%

PREIX

• 1D: -0.73%
• 1M: 4.16%
• YTD: 10.79%
• 6M: 10.69%
• 1Y: 27.79%
• 3Y*: 22.23%
• 5Y*: 13.71%
• 10Y*: 15.33%

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

TRRIX vs. PREIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRRIX T. Rowe Price Retirement Balanced Fund	5.10%	11.02%	9.96%	11.57%	-13.16%	8.63%	11.48%	15.32%	-3.29%	10.38%
PREIX T. Rowe Price Equity Index 500 Fund	10.79%	17.66%	24.78%	26.07%	-18.27%	28.48%	18.17%	31.47%	-4.59%	21.01%

Correlation

The correlation between TRRIX and PREIX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Oct 2, 2002	0.89

The correlation between TRRIX and PREIX has been stable across timeframes, ranging from 0.81 to 0.89 - a consistent structural relationship.

Return for Risk

TRRIX vs. PREIX — Risk / Return Rank

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

TRRIX

TRRIX Risk / Return Rank: 56
TRRIX Sharpe Ratio Rank: 54
TRRIX Sortino Ratio Rank: 58
TRRIX Omega Ratio Rank: 62
TRRIX Calmar Ratio Rank: 50
TRRIX Martin Ratio Rank: 56

PREIX

PREIX Risk / Return Rank: 65
PREIX Sharpe Ratio Rank: 63
PREIX Sortino Ratio Rank: 58
PREIX Omega Ratio Rank: 59
PREIX Calmar Ratio Rank: 66
PREIX Martin Ratio Rank: 78

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. PREIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement Balanced Fund (TRRIX) and T. Rowe Price Equity Index 500 Fund (PREIX). 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.

	TRRIX	PREIX	Difference
Sharpe ratio: Return per unit of total volatility	2.19	2.35	-0.16
Sortino ratio: Return per unit of downside risk	3.21	3.21	0.00
Omega ratio: Gain probability vs. loss probability	1.44	1.43	+0.01
Calmar ratio: Return relative to maximum drawdown	2.68	3.13	-0.44
Martin ratio: Return relative to average drawdown	11.28	14.58	-3.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TRRIX vs. PREIX - Sharpe Ratio Comparison

The current TRRIX Sharpe Ratio is 2.19, which is comparable to the PREIX Sharpe Ratio of 2.35. The chart below compares the historical Sharpe Ratios of TRRIX and PREIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	TRRIX	PREIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.19	2.35	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.71	0.81	-0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.92	0.85	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.82	0.61	+0.21

Drawdowns

TRRIX vs. PREIX - Drawdown Comparison

The maximum TRRIX drawdown since its inception was -27.77%, smaller than the maximum PREIX drawdown of -55.32%. Use the drawdown chart below to compare losses from any high point for TRRIX and PREIX.

Drawdown Indicators

	TRRIX	PREIX	Difference
Max Drawdown Largest peak-to-trough decline	-27.77%	-55.32%	+27.55%
Max Drawdown (1Y) Largest decline over 1 year	-4.85%	-8.93%	+4.08%
Max Drawdown (3Y) Largest decline over 3 years	-6.10%	-18.78%	+12.68%
Max Drawdown (5Y) Largest decline over 5 years	-18.13%	-24.60%	+6.47%
Max Drawdown (10Y) Largest decline over 10 years	-18.57%	-33.81%	+15.24%
Current Drawdown Current decline from peak	-0.34%	-0.73%	+0.39%
Average Drawdown Average peak-to-trough decline	-2.84%	-8.72%	+5.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.14%	1.91%	-0.77%

Volatility

TRRIX vs. PREIX - Volatility Comparison

The current volatility for T. Rowe Price Retirement Balanced Fund (TRRIX) is 1.87%, while T. Rowe Price Equity Index 500 Fund (PREIX) has a volatility of 2.93%. This indicates that TRRIX experiences smaller price fluctuations and is considered to be less risky than PREIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TRRIX	PREIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.87%	2.93%	-1.06%
Volatility (6M) Calculated over the trailing 6-month period	5.12%	8.99%	-3.87%
Volatility (1Y) Calculated over the trailing 1-year period	5.96%	11.89%	-5.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.10%	17.00%	-9.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.22%	18.10%	-10.88%

TRRIX vs. PREIX - Expense Ratio Comparison

TRRIX has a 0.49% expense ratio, which is higher than PREIX's 0.15% expense ratio.

Dividends

TRRIX vs. PREIX - Dividend Comparison

TRRIX's dividend yield for the trailing twelve months is around 4.65%, more than PREIX's 2.12% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PREIX T. Rowe Price Equity Index 500 Fund	2.12%	2.32%	1.17%	1.32%	1.50%	1.56%	1.97%	2.13%	2.60%	1.30%	2.03%	2.02%
TRRIX T. Rowe Price Retirement Balanced Fund	4.65%	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

Can I hold both TRRIX and PREIX in my portfolio?

TRRIX and PREIX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TRRIX or PREIX?

PREIX has higher volatility (2.93%) compared to TRRIX (1.87%). In terms of maximum drawdown, TRRIX dropped -27.77% vs PREIX's -55.32%.

Which has better risk-adjusted returns?

PREIX currently has the higher Sharpe Ratio (2.35 vs 2.19), 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.