TRSGX vs. PREIX

Last updated Jun 26, 2026

TRSGX (T. Rowe Price Spectrum Moderate Growth Allocation Fund) and PREIX (T. Rowe Price Equity Index 500 Fund) are both mutual funds - TRSGX is a Diversified Portfolio fund managed by T. Rowe Price, while PREIX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Over the past 10 years, TRSGX returned 10.62%/yr vs 15.38%/yr for PREIX. With a 0.95 correlation, they move nearly in lockstep. TRSGX charges 0.61%/yr vs 0.15%/yr for PREIX.

Performance

TRSGX vs. PREIX - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with TRSGX having a 7.82% return and PREIX slightly higher at 8.00%. Over the past 10 years, TRSGX has underperformed PREIX with an annualized return of 10.62%, while PREIX has yielded a comparatively higher 15.38% annualized return.

TRSGX

• 1D: 0.11%
• 1M: -1.06%
• YTD: 7.82%
• 6M: 7.16%
• 1Y: 18.98%
• 3Y*: 15.35%
• 5Y*: 6.68%
• 10Y*: 10.62%

PREIX

• 1D: -0.09%
• 1M: -2.05%
• YTD: 8.00%
• 6M: 6.67%
• 1Y: 22.01%
• 3Y*: 20.55%
• 5Y*: 12.85%
• 10Y*: 15.38%

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

TRSGX vs. PREIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TRSGX T. Rowe Price Spectrum Moderate Growth Allocation Fund	7.82%	17.00%	12.40%	18.04%	-19.70%	14.03%	16.66%	24.69%	-6.02%	20.56%
PREIX T. Rowe Price Equity Index 500 Fund	8.00%	17.66%	24.78%	26.07%	-18.27%	28.48%	18.17%	31.47%	-4.59%	21.01%

Correlation

The correlation between TRSGX and PREIX is 0.93, 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	0.93
Correlation (3Y) Calculated over the trailing 3-year period	0.94
Correlation (5Y) Calculated over the trailing 5-year period	0.95
Correlation (10Y) Calculated over the trailing 10-year period	0.95
Correlation (All Time) Calculated using the full available price history since Feb 1, 1996	0.95

The correlation between TRSGX and PREIX has been stable across timeframes, ranging from 0.93 to 0.95 - a consistent structural relationship.

Return for Risk

TRSGX vs. PREIX — Risk / Return Rank

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

TRSGX

TRSGX Risk / Return Rank: 51
TRSGX Sharpe Ratio Rank: 51
TRSGX Sortino Ratio Rank: 49
TRSGX Omega Ratio Rank: 53
TRSGX Calmar Ratio Rank: 46
TRSGX Martin Ratio Rank: 57

PREIX

PREIX Risk / Return Rank: 54
PREIX Sharpe Ratio Rank: 51
PREIX Sortino Ratio Rank: 47
PREIX Omega Ratio Rank: 49
PREIX Calmar Ratio Rank: 54
PREIX Martin Ratio Rank: 67

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.

TRSGX vs. PREIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Spectrum Moderate Growth Allocation Fund (TRSGX) 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.

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.

	TRSGX	PREIX	Difference
Sharpe ratio: Return per unit of total volatility	1.75	1.77	-0.02
Sortino ratio: Return per unit of downside risk	2.45	2.42	+0.03
Omega ratio: Gain probability vs. loss probability	1.33	1.32	+0.01
Calmar ratio: Return relative to maximum drawdown	2.26	2.47	-0.21
Martin ratio: Return relative to average drawdown	9.82	11.04	-1.23

TRSGX vs. PREIX - Sharpe Ratio Comparison

The current TRSGX Sharpe Ratio is 1.75, which is comparable to the PREIX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of TRSGX 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.

Drawdowns

TRSGX vs. PREIX - Drawdown Comparison

The maximum TRSGX drawdown since its inception was -51.79%, smaller than the maximum PREIX drawdown of -55.32%. Use the drawdown chart below to compare losses from any high point for TRSGX and PREIX.

Drawdown Indicators

	TRSGX	PREIX	Difference
Max Drawdown Largest peak-to-trough decline	-51.79%	-55.32%	+3.53%
Max Drawdown (1Y) Largest decline over 1 year	-8.32%	-8.93%	+0.61%
Max Drawdown (3Y) Largest decline over 3 years	-12.78%	-18.78%	+6.00%
Max Drawdown (5Y) Largest decline over 5 years	-26.83%	-24.60%	-2.23%
Max Drawdown (10Y) Largest decline over 10 years	-29.62%	-33.81%	+4.19%
Current Drawdown Current decline from peak	-1.63%	-3.23%	+1.60%
Average Drawdown Average peak-to-trough decline	-6.15%	-8.71%	+2.56%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	2.00%	-0.08%

Volatility

TRSGX vs. PREIX - Volatility Comparison

The current volatility for T. Rowe Price Spectrum Moderate Growth Allocation Fund (TRSGX) is 4.34%, while T. Rowe Price Equity Index 500 Fund (PREIX) has a volatility of 4.88%. This indicates that TRSGX 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

	TRSGX	PREIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.34%	4.88%	-0.54%
Volatility (6M) Calculated over the trailing 6-month period	9.04%	9.90%	-0.86%
Volatility (1Y) Calculated over the trailing 1-year period	10.80%	12.55%	-1.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.92%	17.10%	-4.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.79%	18.12%	-4.33%

TRSGX vs. PREIX - Expense Ratio Comparison

TRSGX has a 0.61% expense ratio, which is higher than PREIX's 0.15% expense ratio.

Dividends

TRSGX vs. PREIX - Dividend Comparison

TRSGX's dividend yield for the trailing twelve months is around 6.19%, more than PREIX's 2.17% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PREIX T. Rowe Price Equity Index 500 Fund	2.17%	2.32%	1.17%	1.32%	1.50%	1.56%	1.97%	2.13%	2.60%	1.30%	2.03%	2.02%
TRSGX T. Rowe Price Spectrum Moderate Growth Allocation Fund	6.19%	6.68%	6.48%	1.84%	7.61%	9.36%	2.60%	3.51%	7.11%	3.57%	2.20%	6.79%

Frequently Asked Questions

Can I hold both TRSGX and PREIX in my portfolio?

With a correlation of 0.93, TRSGX and PREIX 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.

Which is riskier, TRSGX or PREIX?

PREIX has higher volatility (4.88%) compared to TRSGX (4.34%). In terms of maximum drawdown, TRSGX dropped -51.79% vs PREIX's -55.32%.

Which has better risk-adjusted returns?

PREIX currently has the higher Sharpe Ratio (1.77 vs 1.75), 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.