TRRIX vs. SPY
Compare and contrast key facts about T. Rowe Price Retirement Balanced Fund (TRRIX) and State Street SPDR S&P 500 ETF (SPY).
TRRIX is managed by T. Rowe Price. It was launched on Sep 30, 2002. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
TRRIX vs. SPY - Performance Comparison
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TRRIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRRIX T. Rowe Price Retirement Balanced Fund | -1.64% | 12.43% | 9.69% | 11.34% | -13.16% | 8.63% | 11.48% | 15.32% | -3.29% | 10.38% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, TRRIX achieves a -1.64% return, which is significantly higher than SPY's -4.37% return. Over the past 10 years, TRRIX has underperformed SPY with an annualized return of 6.18%, while SPY has yielded a comparatively higher 13.98% annualized return.
TRRIX
- 1D
- 0.00%
- 1M
- -4.79%
- YTD
- -1.64%
- 6M
- 0.15%
- 1Y
- 9.06%
- 3Y*
- 9.11%
- 5Y*
- 4.50%
- 10Y*
- 6.18%
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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TRRIX vs. SPY - Expense Ratio Comparison
TRRIX has a 0.49% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
TRRIX vs. SPY — Risk / Return Rank
TRRIX
SPY
TRRIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement Balanced Fund (TRRIX) and State Street SPDR S&P 500 ETF (SPY). 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 | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.34 | 0.93 | +0.41 |
Sortino ratioReturn per unit of downside risk | 1.88 | 1.45 | +0.43 |
Omega ratioGain probability vs. loss probability | 1.28 | 1.22 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.57 | 1.53 | +0.04 |
Martin ratioReturn relative to average drawdown | 6.65 | 7.30 | -0.65 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TRRIX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.34 | 0.93 | +0.41 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.64 | 0.69 | -0.04 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.87 | 0.78 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.80 | 0.56 | +0.23 |
Correlation
The correlation between TRRIX and SPY is 0.88, 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.
Dividends
TRRIX vs. SPY - Dividend Comparison
TRRIX's dividend yield for the trailing twelve months is around 6.25%, more than SPY's 1.14% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TRRIX T. Rowe Price Retirement Balanced Fund | 6.25% | 6.14% | 5.49% | 4.12% | 10.15% | 12.67% | 9.27% | 3.39% | 7.01% | 5.07% | 3.40% | 3.44% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
TRRIX vs. SPY - Drawdown Comparison
The maximum TRRIX drawdown since its inception was -27.77%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for TRRIX and SPY.
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Drawdown Indicators
| TRRIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.77% | -55.19% | +27.42% |
Max Drawdown (1Y)Largest decline over 1 year | -5.29% | -12.05% | +6.76% |
Max Drawdown (5Y)Largest decline over 5 years | -18.13% | -24.50% | +6.37% |
Max Drawdown (10Y)Largest decline over 10 years | -18.57% | -33.72% | +15.15% |
Current DrawdownCurrent decline from peak | -4.79% | -6.24% | +1.45% |
Average DrawdownAverage peak-to-trough decline | -2.86% | -9.09% | +6.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 2.52% | -1.23% |
Volatility
TRRIX vs. SPY - Volatility Comparison
The current volatility for T. Rowe Price Retirement Balanced Fund (TRRIX) is 2.39%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that TRRIX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRRIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.39% | 5.31% | -2.92% |
Volatility (6M)Calculated over the trailing 6-month period | 4.60% | 9.47% | -4.87% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.20% | 19.05% | -11.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.05% | 17.06% | -10.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.19% | 17.92% | -10.73% |