T. Rowe Price Target 2045 Fund (PAFFX) belongs to the Target Retirement Date category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with PAFFX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to PAFFX
PAFFX charges 0.87% annually. There are 560 mutual funds in the Target Retirement Date category with lower expense ratios, going as low as 0.01%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| John Hancock Funds Multi-Index 2060 Lifetime Portf... | 0.01% | — | Mar 2016 | PAFFX vs JIEHX | |
| Principal LifeTime 2045 Fund | 0.01% | — | Feb 2008 | PAFFX vs LTRIX | |
| Principal LifeTime 2050 Fund | 0.01% | — | Feb 2001 | PAFFX vs PPLIX | |
| Principal LifeTime 2035 Fund | 0.01% | — | Feb 2008 | PAFFX vs LTIUX | |
| Principal LifeTime 2060 Fund | 0.01% | — | Feb 2013 | PAFFX vs PLTZX |
Best Risk-Adjusted Alternatives to PAFFX
PAFFX has a PortfoliosLab risk / return rank of 57. There are 556 mutual funds in the Target Retirement Date category with higher risk-adjusted ranks, going as high as 89.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| Putnam Retirement Advantage Maturity Fund | 89 | — | Dec 2019 | PAFFX vs PADLX | |
| State Street Target Retirement Fund | 88 | — | Sep 2014 | PAFFX vs SSFNX | |
| Prudential Day One Income Fund | 85 | — | Dec 2016 | PAFFX vs PDAHX | |
| State Street Target Retirement 2025 Fund | 85 | — | Sep 2014 | PAFFX vs SSBRX | |
| Dimensional 2060 Target Date Retirement Income Fun... | 83 | — | Nov 2015 | PAFFX vs DRILX |
Top Performing PAFFX Alternatives (YTD)
PAFFX is at 10.12% YTD. There are 290 mutual funds in the Target Retirement Date category with higher YTD returns, going as high as 14.17%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Fidelity Flex Freedom Blend 2060 Fund | 14.17% | — | Jun 2017 | PAFFX vs FWLSX | |
| Fidelity Flex Freedom Blend 2065 Fund | 14.11% | — | Jun 2019 | PAFFX vs FDFPX | |
| Fidelity Flex Freedom Blend 2055 Fund | 14.07% | — | Jun 2017 | PAFFX vs FQLSX | |
| Fidelity Freedom Blend 2055 Fund Class K6 | 14.04% | — | Aug 2018 | PAFFX vs FHDDX | |
| Fidelity Freedom Blend 2065 Fund Class K6 | 14.03% | — | Jun 2019 | PAFFX vs FFBQX |
Lowest Volatility Alternatives to PAFFX
PAFFX has 10.70% 1-year volatility. There are 391 mutual funds in the Target Retirement Date category with lower 1-year volatility, going as low as 3.33%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Dimensional Retirement Income Fund | 3.33% | — | Nov 2015 | PAFFX vs TDIFX | |
| Fidelity Freedom Index Income Fund Investor Class | 3.98% | — | Oct 2009 | PAFFX vs FIKFX | |
| Fidelity Freedom Index Income Fund Institutional P... | 4.01% | — | Oct 2009 | PAFFX vs FFGZX | |
| Fidelity Managed Retirement 2010 Fund Class K6 | 4.14% | — | Aug 2019 | PAFFX vs FRQHX | |
| Fidelity Managed Retirement Income Fund Class K | 4.15% | — | Aug 2019 | PAFFX vs FRKMX |
Lowest Drawdown Alternatives to PAFFX
PAFFX has a 1-year max drawdown of -8.65%. There are 429 mutual funds in the Target Retirement Date category with shallower 1-year drawdowns, going as shallow as -2.61%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Dimensional Retirement Income Fund | -2.61% | — | Nov 2015 | PAFFX vs TDIFX | |
| Fidelity Freedom Index Income Fund Investor Class | -3.32% | — | Oct 2009 | PAFFX vs FIKFX | |
| Fidelity Freedom Index Income Fund Institutional P... | -3.33% | — | Oct 2009 | PAFFX vs FFGZX | |
| Fidelity Managed Retirement 2010 Fund Class K6 | -3.41% | — | Aug 2019 | PAFFX vs FRQHX | |
| Fidelity Managed Retirement Income Fund Class K | -3.42% | — | Aug 2019 | PAFFX vs FRKMX |
Other Mutual Funds from T. Rowe Price
The 10 most viewed T. Rowe Price mutual funds shown here include TRBCX, PRWCX, PRDGX and span 6 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| T. Rowe Price Blue Chip Growth Fund | Large Cap Growth Equities | 19 | 5.48% | — | Jun 1993 | PAFFX vs TRBCX | |
| T. Rowe Price Capital Appreciation Fund | Diversified Portfolio | 49 | 5.76% | — | Jun 1986 | PAFFX vs PRWCX | |
| T. Rowe Price Dividend Growth Fund, Inc. | Large Cap Blend Equities, Dividend | 40 | 7.60% | — | Dec 1992 | PAFFX vs PRDGX | |
| T. Rowe Price U.S. Equity Research Fund | Large Cap Blend Equities | 69 | 12.08% | — | Nov 1994 | PAFFX vs PRCOX | |
| T. Rowe Price All-Cap Opportunities Fund | Large Cap Growth Equities | 15 | 1.11% | — | Sep 1985 | PAFFX vs PRWAX | |
| T. Rowe Price Equity Index 500 Fund | Large Cap Blend Equities | 72 | 11.61% | — | Mar 1990 | PAFFX vs PREIX | |
| T. Rowe Price Blue Chip Growth Fund I Class | Large Cap Growth Equities | 21 | 5.54% | — | — | PAFFX vs TBCIX | |
| T. Rowe Price Large-Cap Growth Fund | Large Cap Growth Equities | 18 | 5.12% | — | Oct 2001 | PAFFX vs TRLGX | |
| T. Rowe Price Science And Technology Fund | Technology Equities | 91 | 41.41% | — | Sep 1987 | PAFFX vs PRSCX | |
| T. Rowe Price Retirement 2035 Fund | Target Retirement Date | 32 | 9.32% | — | Feb 2004 | PAFFX vs TRRJX |
Often Compared With PAFFX
Investors most often compare PAFFX with VTTSX, VOO, FIOFX. These 20 comparison targets span 4 categories, based on PortfoliosLab usage data.
Compare PAFFX with Any Fund or Stock
Compare PAFFX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair PAFFX with funds that move differently
T. Rowe Price Target 2045 Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to PAFFX.
Explore PAFFX Diversifiers