TRRBX vs TRRIX: 89% overlap
T. Rowe Price Retirement 2020 and T. Rowe Price Retirement Balanced share 88.7% of their portfolios by weight — computed as Σ min(wA, wB) over every holding both funds own.
You would hold two tickers and get the diversification of 1.1. Two funds that shared nothing would score 2.0; two identical funds score 1.0.
Top shared holdings
TRRBX and TRRIX hold 26 of the same securities. The ten contributing most to the overlap figure:
| Holding | in TRRBX | in TRRIX | Δ |
|---|---|---|---|
| 779570506 | 14.9% | 16.3% | 1.4% |
| 872798301 | 12.7% | 20.4% | 7.7% |
| 779578400 | 7.9% | 6.2% | 1.7% |
| 87281D850 | 5.5% | 6.0% | 0.4% |
| 77958E208 | 6.9% | 5.4% | 1.5% |
| 87283V502 | 5.0% | 4.0% | 1.0% |
| 87281D827 | 4.2% | 3.4% | 0.9% |
| 74149R404 | 4.1% | 3.2% | 0.8% |
| 87281D702 | 3.2% | 3.5% | 0.3% |
| 87281D801 | 3.1% | 3.4% | 0.4% |
Where TRRBX and TRRIX differ
Sector weights as a share of each fund, ordered by the size of the gap rather than the size of the sector — two funds that overlap heavily still usually diverge somewhere.
| Sector | TRRBX | TRRIX | Δ |
|---|---|---|---|
| Unclassified | 99.9% | 100.0% | −0.1pp |
Δ is TRRBX minus TRRIX, in percentage points. Sector data is not published by every issuer, so “Unclassified” is a real category rather than a gap in the table.
What each fund holds alone
0.1% of TRRBX by weight, held in no part of TRRIX.
0.0% of TRRIX by weight, held in no part of TRRBX.
A large count with a small weight is the usual shape: the positions one fund adds are typically its smallest ones.
Concentration and cost
| TRRBX | TRRIX | |
|---|---|---|
| Top 10 holdings | 69.2% | 71.7% |
| Positions held | 31 | 26 |
| Cost per $10,000 held, per year | $53 | $51 |
Cost is the expense ratio applied to $10,000; it excludes any brokerage commission, bid-ask spread or tax consequence. Figures are facts about the funds, not a suggestion about which to hold.
Frequently asked
How much do TRRBX and TRRIX overlap?
TRRBX and TRRIX overlap 88.7% by portfolio weight — substantial duplication if you hold both. They share 26 holdings. The figure comes from current issuer holdings files (TRRBX as of 2026-02-28, TRRIX as of 2026-02-28).
How is the overlap between TRRBX and TRRIX calculated?
As the sum of the smaller weight in each fund, over every holding both funds own: Σ min(wA, wB). If TRRBX holds a stock at 6% and TRRIX holds the same stock at 4%, 4% counts as shared. The result is bounded between 0% and 100%, and it is computed after looking through any fund-of-funds to the underlying holdings.
Is it redundant to hold both TRRBX and TRRIX?
That depends on your goals — we state facts, not advice. At 88.7% overlap, most of what one fund holds, the other holds too. Expense ratios: TRRBX 0.53% versus TRRIX 0.51%.
What does TRRBX own that TRRIX doesn't?
TRRBX holds 31 positions and TRRIX holds 26; 5 of TRRBX's positions don't appear in TRRIX at all, and they are 0.1% of TRRBX by weight.
You probably hold more than two funds
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Related comparisons
Sources: issuer holdings files, TRRBX as of 2026-02-28, TRRIX as of 2026-02-28. Weights are fractions of each fund. Diagnostics, not advice.