TRRKX vs. TRRJX
TRRKX (T. Rowe Price Retirement 2045 Fund) and TRRJX (T. Rowe Price Retirement 2035 Fund) are both Target Retirement Date funds from T. Rowe Price. Over the past 10 years, TRRKX returned 11.12%/yr vs 9.87%/yr for TRRJX. With a 1.00 correlation, they move nearly in lockstep. TRRKX charges 0.63%/yr vs 0.59%/yr for TRRJX.
Performance
TRRKX vs. TRRJX - Performance Comparison
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Returns By Period
In the year-to-date period, TRRKX achieves a 10.90% return, which is significantly higher than TRRJX's 9.02% return. Over the past 10 years, TRRKX has outperformed TRRJX with an annualized return of 11.12%, while TRRJX has yielded a comparatively lower 9.87% annualized return.
TRRKX
- 1D
- 1.15%
- 1M
- 1.33%
- YTD
- 10.90%
- 6M
- 10.68%
- 1Y
- 20.73%
- 3Y*
- 15.76%
- 5Y*
- 8.05%
- 10Y*
- 11.12%
TRRJX
- 1D
- 0.95%
- 1M
- 1.27%
- YTD
- 9.02%
- 6M
- 8.89%
- 1Y
- 15.71%
- 3Y*
- 13.13%
- 5Y*
- 6.72%
- 10Y*
- 9.87%
TRRKX vs. TRRJX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TRRKX T. Rowe Price Retirement 2045 Fund | 10.90% | 14.20% | 13.94% | 20.52% | -19.03% | 15.80% | 18.64% | 25.41% | -7.66% | 22.42% |
TRRJX T. Rowe Price Retirement 2035 Fund | 9.02% | 10.96% | 11.99% | 18.14% | -17.96% | 15.21% | 17.04% | 23.72% | -6.95% | 20.89% |
Correlation
The correlation between TRRKX and TRRJX is 1.00 - 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 | 1.00 |
Correlation (3Y) Calculated over the trailing 3-year period | 1.00 |
Correlation (5Y) Calculated over the trailing 5-year period | 1.00 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Jun 1, 2005 | 1.00 |
The correlation between TRRKX and TRRJX has been stable across timeframes, ranging from 0.99 to 1.00 - a consistent structural relationship.
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Return for Risk
TRRKX vs. TRRJX — Risk / Return Rank
TRRKX
TRRJX
TRRKX vs. TRRJX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Retirement 2045 Fund (TRRKX) and T. Rowe Price Retirement 2035 Fund (TRRJX). 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.
| TRRKX | TRRJX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 1.28 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | 2.21 | 1.97 | +0.23 |
| Martin ratioReturn relative to average drawdown | 9.06 | 7.54 | +1.52 |
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Drawdowns
TRRKX vs. TRRJX - Drawdown Comparison
The maximum TRRKX drawdown since its inception was -53.54%, roughly equal to the maximum TRRJX drawdown of -53.57%. Use the drawdown chart below to compare losses from any high point for TRRKX and TRRJX.
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Drawdown Indicators
| TRRKX | TRRJX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.54% | -53.57% | +0.03% |
Max Drawdown (1Y)Largest decline over 1 year | -9.49% | -8.06% | -1.43% |
Max Drawdown (3Y)Largest decline over 3 years | -15.16% | -12.52% | -2.64% |
Max Drawdown (5Y)Largest decline over 5 years | -28.75% | -25.85% | -2.90% |
Max Drawdown (10Y)Largest decline over 10 years | -32.48% | -30.14% | -2.34% |
Current DrawdownCurrent decline from peak | -0.42% | -0.27% | -0.15% |
Average DrawdownAverage peak-to-trough decline | -7.20% | -6.63% | -0.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.29% | 2.09% | +0.20% |
Volatility
TRRKX vs. TRRJX - Volatility Comparison
T. Rowe Price Retirement 2045 Fund (TRRKX) has a higher volatility of 4.76% compared to T. Rowe Price Retirement 2035 Fund (TRRJX) at 3.96%. This indicates that TRRKX's price experiences larger fluctuations and is considered to be riskier than TRRJX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TRRKX | TRRJX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.76% | 3.96% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 10.66% | 9.38% | +1.28% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.72% | 10.96% | +1.76% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.03% | 12.92% | +2.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.37% | 13.57% | +1.80% |
TRRKX vs. TRRJX - Expense Ratio Comparison
TRRKX has a 0.63% expense ratio, which is higher than TRRJX's 0.59% expense ratio.
Dividends
TRRKX vs. TRRJX - Dividend Comparison
Neither TRRKX nor TRRJX has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TRRJX T. Rowe Price Retirement 2035 Fund | 0.00% | 0.00% | 2.36% | 4.68% | 9.67% | 6.89% | 4.80% | 5.68% | 8.55% | 3.80% | 2.89% | 4.05% |
TRRKX T. Rowe Price Retirement 2045 Fund | 0.00% | 0.00% | 1.96% | 4.40% | 7.83% | 5.58% | 4.52% | 5.94% | 8.98% | 3.52% | 3.20% | 4.25% |
Frequently Asked Questions
With a correlation of 1.00, TRRKX and TRRJX 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.
TRRKX has higher volatility (4.76%) compared to TRRJX (3.96%). In terms of maximum drawdown, TRRKX dropped -53.54% vs TRRJX's -53.57%.
TRRKX currently has the higher Sharpe Ratio (1.65 vs 1.45), 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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