VGIAX vs. TRRBX

Last updated Jun 4, 2026

VGIAX (Vanguard Growth and Income Fund Admiral Shares) and TRRBX (T. Rowe Price Retirement 2020 Fund) are both mutual funds - VGIAX is a Large Cap Blend Equities fund managed by Vanguard, while TRRBX is a Target Retirement Date fund managed by T. Rowe Price. Over the past 10 years, VGIAX returned 15.41%/yr vs 7.18%/yr for TRRBX. Their correlation of 0.91 suggests significant overlap in exposure. VGIAX charges 0.22%/yr vs 0.53%/yr for TRRBX.

Performance

VGIAX vs. TRRBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Growth and Income Fund Admiral Shares (VGIAX) and T. Rowe Price Retirement 2020 Fund (TRRBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, VGIAX achieves a 10.47% return, which is significantly higher than TRRBX's 6.59% return. Over the past 10 years, VGIAX has outperformed TRRBX with an annualized return of 15.41%, while TRRBX has yielded a comparatively lower 7.18% annualized return.

VGIAX

• 1D: 0.06%
• 1M: 5.79%
• YTD: 10.47%
• 6M: 10.77%
• 1Y: 28.81%
• 3Y*: 23.19%
• 5Y*: 14.27%
• 10Y*: 15.41%

TRRBX

• 1D: 0.29%
• 1M: 2.63%
• YTD: 6.59%
• 6M: 0.77%
• 1Y: 8.85%
• 3Y*: 9.79%
• 5Y*: 4.42%
• 10Y*: 7.18%

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

VGIAX vs. TRRBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
VGIAX Vanguard Growth and Income Fund Admiral Shares	10.47%	19.26%	25.84%	24.83%	-17.18%	28.86%	18.04%	29.77%	-4.61%	19.87%
TRRBX T. Rowe Price Retirement 2020 Fund	6.59%	6.07%	9.17%	13.51%	-14.58%	10.60%	13.18%	19.39%	-5.01%	15.75%

Correlation

The correlation between VGIAX and TRRBX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.89
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Oct 2, 2002	0.91

The correlation between VGIAX and TRRBX has been stable across timeframes, ranging from 0.86 to 0.91 - a consistent structural relationship.

Return for Risk

VGIAX vs. TRRBX — Risk / Return Rank

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

VGIAX

VGIAX Risk / Return Rank: 63
VGIAX Sharpe Ratio Rank: 65
VGIAX Sortino Ratio Rank: 57
VGIAX Omega Ratio Rank: 57
VGIAX Calmar Ratio Rank: 63
VGIAX Martin Ratio Rank: 72

TRRBX

TRRBX Risk / Return Rank: 15
TRRBX Sharpe Ratio Rank: 15
TRRBX Sortino Ratio Rank: 12
TRRBX Omega Ratio Rank: 22
TRRBX Calmar Ratio Rank: 13
TRRBX Martin Ratio Rank: 12

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.

VGIAX vs. TRRBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Growth and Income Fund Admiral Shares (VGIAX) and T. Rowe Price Retirement 2020 Fund (TRRBX). 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.

	VGIAX	TRRBX	Difference
Sharpe ratio Return per unit of total volatility	2.37	1.09	+1.28
Sortino ratio Return per unit of downside risk	3.20	1.36	+1.84
Omega ratio Gain probability vs. loss probability	1.42	1.25	+0.18
Calmar ratio Return relative to maximum drawdown	3.05	1.20	+1.85
Martin ratio Return relative to average drawdown	13.76	3.48	+10.28
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VGIAX vs. TRRBX - Sharpe Ratio Comparison

The current VGIAX Sharpe Ratio is 2.37, which is higher than the TRRBX Sharpe Ratio of 1.09. The chart below compares the historical Sharpe Ratios of VGIAX and TRRBX, 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

	VGIAX	TRRBX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.37	1.09	+1.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.84	0.48	+0.35
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.75	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.62	-0.14

Drawdowns

VGIAX vs. TRRBX - Drawdown Comparison

The maximum VGIAX drawdown since its inception was -56.85%, which is greater than TRRBX's maximum drawdown of -47.04%. Use the drawdown chart below to compare losses from any high point for VGIAX and TRRBX.

Drawdown Indicators

	VGIAX	TRRBX	Difference
Max Drawdown Largest peak-to-trough decline	-56.85%	-47.04%	-9.81%
Max Drawdown (1Y) Largest decline over 1 year	-9.73%	-7.68%	-2.05%
Max Drawdown (3Y) Largest decline over 3 years	-19.66%	-8.24%	-11.42%
Max Drawdown (5Y) Largest decline over 5 years	-23.30%	-20.54%	-2.76%
Max Drawdown (10Y) Largest decline over 10 years	-34.33%	-23.90%	-10.43%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-9.34%	-5.04%	-4.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.15%	2.61%	-0.46%

Volatility

VGIAX vs. TRRBX - Volatility Comparison

Vanguard Growth and Income Fund Admiral Shares (VGIAX) has a higher volatility of 3.03% compared to T. Rowe Price Retirement 2020 Fund (TRRBX) at 2.11%. This indicates that VGIAX's price experiences larger fluctuations and is considered to be riskier than TRRBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VGIAX	TRRBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.03%	2.11%	+0.92%
Volatility (6M) Calculated over the trailing 6-month period	9.47%	7.67%	+1.80%
Volatility (1Y) Calculated over the trailing 1-year period	12.54%	8.46%	+4.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.11%	9.20%	+7.91%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.21%	9.67%	+8.54%

VGIAX vs. TRRBX - Expense Ratio Comparison

VGIAX has a 0.22% expense ratio, which is lower than TRRBX's 0.53% expense ratio.

Dividends

VGIAX vs. TRRBX - Dividend Comparison

VGIAX's dividend yield for the trailing twelve months is around 9.71%, while TRRBX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TRRBX T. Rowe Price Retirement 2020 Fund	0.00%	0.00%	4.28%	6.78%	13.33%	12.99%	9.80%	5.52%	9.63%	4.79%	1.76%	2.92%
VGIAX Vanguard Growth and Income Fund Admiral Shares	9.71%	10.72%	11.67%	8.70%	9.81%	15.28%	6.63%	4.19%	8.05%	5.06%	7.01%	7.72%

Frequently Asked Questions

Can I hold both VGIAX and TRRBX in my portfolio?

VGIAX and TRRBX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, VGIAX or TRRBX?

VGIAX has higher volatility (3.03%) compared to TRRBX (2.11%). In terms of maximum drawdown, VGIAX dropped -56.85% vs TRRBX's -47.04%.

Which has better risk-adjusted returns?

VGIAX currently has the higher Sharpe Ratio (2.37 vs 1.09), 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.