TRRIX vs. TRRHX
TRRIX (T. Rowe Price Retirement Balanced Fund) and TRRHX (T. Rowe Price Retirement 2025 Fund) are both mutual funds - TRRIX is a Diversified Portfolio fund managed by T. Rowe Price, while TRRHX is a Target Retirement Date fund managed by T. Rowe Price. Over the past 10 years, TRRIX returned 6.85%/yr vs 7.91%/yr for TRRHX. With a 0.96 correlation, they move nearly in lockstep. TRRIX charges 0.49%/yr vs 0.55%/yr for TRRHX.
Performance
TRRIX vs. TRRHX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, TRRIX achieves a 5.10% return, which is significantly lower than TRRHX's 6.63% return. Over the past 10 years, TRRIX has underperformed TRRHX with an annualized return of 6.85%, while TRRHX has yielded a comparatively higher 7.91% annualized return.
TRRIX
- 1D
- 0.55%
- 1M
- 0.86%
- YTD
- 5.10%
- 6M
- 6.05%
- 1Y
- 10.92%
- 3Y*
- 11.09%
- 5Y*
- 5.57%
- 10Y*
- 6.85%
TRRHX
- 1D
- 0.70%
- 1M
- 0.97%
- YTD
- 6.63%
- 6M
- 6.57%
- 1Y
- 9.23%
- 3Y*
- 9.75%
- 5Y*
- 4.74%
- 10Y*
- 7.91%
TRRIX vs. TRRHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRRIX T. Rowe Price Retirement Balanced Fund | 5.10% | 9.39% | 10.98% | 14.41% | -13.16% | 8.63% | 11.48% | 15.32% | -3.29% | 10.38% |
TRRHX T. Rowe Price Retirement 2025 Fund | 6.63% | 6.59% | 9.71% | 14.63% | -15.59% | 12.02% | 14.68% | 20.96% | -5.68% | 17.69% |
Correlation
The correlation between TRRIX and TRRHX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.95 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.96 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2004 | 0.96 |
The correlation between TRRIX and TRRHX has been stable across timeframes, ranging from 0.95 to 0.96 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
TRRIX vs. TRRHX — Risk / Return Rank
TRRIX
TRRHX
TRRIX vs. TRRHX - 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 Retirement 2025 Fund (TRRHX). 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.
| TRRIX | TRRHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.75 | ||
| Sortino ratioReturn per unit of downside risk | +1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.22 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 2.30 | 1.20 | +1.10 |
| Martin ratioReturn relative to average drawdown | 9.36 | 3.62 | +5.73 |
Loading charts...
Drawdowns
TRRIX vs. TRRHX - Drawdown Comparison
The maximum TRRIX drawdown since its inception was -27.77%, smaller than the maximum TRRHX drawdown of -50.04%. Use the drawdown chart below to compare losses from any high point for TRRIX and TRRHX.
Loading charts...
Drawdown Indicators
| TRRIX | TRRHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -27.77% | -50.04% | +22.27% |
Max Drawdown (1Y)Largest decline over 1 year | -4.85% | -7.80% | +2.95% |
Max Drawdown (3Y)Largest decline over 3 years | -6.10% | -8.69% | +2.59% |
Max Drawdown (5Y)Largest decline over 5 years | -18.13% | -22.00% | +3.87% |
Max Drawdown (10Y)Largest decline over 10 years | -18.57% | -26.42% | +7.85% |
Current DrawdownCurrent decline from peak | -0.34% | -0.27% | -0.07% |
Average DrawdownAverage peak-to-trough decline | -2.79% | -5.76% | +2.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.18% | 2.55% | -1.37% |
Volatility
TRRIX vs. TRRHX - Volatility Comparison
The current volatility for T. Rowe Price Retirement Balanced Fund (TRRIX) is 2.40%, while T. Rowe Price Retirement 2025 Fund (TRRHX) has a volatility of 2.97%. This indicates that TRRIX experiences smaller price fluctuations and is considered to be less risky than TRRHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| TRRIX | TRRHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.40% | 2.97% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 5.31% | 8.16% | -2.85% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.27% | 9.09% | -2.82% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.19% | 10.02% | -2.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.26% | 10.84% | -3.58% |
TRRIX vs. TRRHX - Expense Ratio Comparison
TRRIX has a 0.49% expense ratio, which is lower than TRRHX's 0.55% expense ratio.
Dividends
TRRIX vs. TRRHX - Dividend Comparison
TRRIX's dividend yield for the trailing twelve months is around 3.24%, while TRRHX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TRRHX T. Rowe Price Retirement 2025 Fund | 0.00% | 0.00% | 4.13% | 6.58% | 12.69% | 10.87% | 5.21% | 4.95% | 7.52% | 3.70% | 2.00% | 3.11% |
TRRIX T. Rowe Price Retirement Balanced Fund | 3.24% | 3.38% | 6.69% | 6.80% | 10.15% | 12.67% | 9.27% | 3.39% | 7.01% | 5.07% | 3.40% | 3.44% |
Frequently Asked Questions
With a correlation of 0.96, TRRIX and TRRHX 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.
TRRHX has higher volatility (2.97%) compared to TRRIX (2.40%). In terms of maximum drawdown, TRRIX dropped -27.77% vs TRRHX's -50.04%.
TRRIX currently has the higher Sharpe Ratio (1.78 vs 1.03), 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.
Find the right allocation for TRRIX and TRRHX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer