- ISIN
- US74149P3901
- Issuer
- T. Rowe Price
- Inception Date
- Aug 19, 2013
- Category
- Target Retirement Date
- Min. Investment
- $2,500
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
PAJRX Performance Chart
T. Rowe Price Target 2025 Fund (PAJRX) is up 5.3% since the beginning of the year. PAJRX is currently trading at $14 per share. Investors who bought $1,000 worth of PAJRX shares 5 years ago would now be looking at an investment worth $1,263.
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Returns By Period
T. Rowe Price Target 2025 Fund (PAJRX) has returned 5.32% so far this year and 12.86% over the past 12 months. Over the last ten years, PAJRX has returned 6.90% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
T. Rowe Price Target 2025 Fund
- 1D
- 0.56%
- 1M
- 0.85%
- YTD
- 5.32%
- 6M
- 5.32%
- 1Y
- 12.86%
- 3Y*
- 10.06%
- 5Y*
- 4.78%
- 10Y*
- 6.90%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
PAJRX Monthly Returns History
Based on dividend-adjusted daily data since Aug 22, 2013, PAJRX's average daily return is +0.03%, while the average monthly return is +0.55%. At this rate, an investment would double in approximately 10.5 years.
Historically, 63% of months were positive and 37% were negative. The best month was Apr 2020 with a return of +7.3%, while the worst month was Mar 2020 at -10.1%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 4 months.
On a daily basis, PAJRX closed higher 50% of trading days. The best single day was Mar 24, 2020 with a return of +5.0%, while the worst single day was Mar 16, 2020 at -6.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.22% | 1.01% | -3.58% | 4.08% | 1.64% | -0.00% | 5.32% | ||||||
| 2025 | 2.77% | -1.57% | 0.15% | 0.08% | 1.90% | 2.16% | 0.36% | 1.81% | 1.57% | 0.70% | 0.49% | 0.32% | 11.19% |
| 2024 | -0.00% | 1.82% | 2.02% | -2.21% | 2.49% | 0.76% | 1.81% | 1.63% | 1.24% | -1.58% | 2.34% | -2.18% | 8.25% |
| 2023 | 4.44% | -1.96% | 1.84% | 0.82% | -1.06% | 2.55% | 1.84% | -1.42% | -2.63% | -1.64% | 5.25% | 3.84% | 12.09% |
| 2022 | -3.21% | -1.55% | -0.00% | -5.16% | 0.00% | -4.83% | 4.21% | -2.82% | -6.11% | 2.67% | 4.80% | -2.47% | -14.19% |
| 2021 | -0.07% | 1.73% | 1.13% | 2.66% | 0.89% | 0.68% | 0.74% | 1.33% | -2.17% | 2.49% | -1.58% | 1.72% | 9.85% |
Benchmark Metrics
T. Rowe Price Target 2025 Fund has an annualized alpha of 0.86%, beta of 0.44, and R2 of 0.79 versus S&P 500 Index. Calculated based on daily prices since August 22, 2013.
- This fund participated in 58.84% of S&P 500 Index downside but only 48.73% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.44 indicates this fund moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- 0.86%
- Beta
- 0.44
- R²
- 0.79
- Upside Capture
- 48.73%
- Downside Capture
- 58.84%
Expense Ratio
PAJRX has an expense ratio of 0.77%, placing it in the medium range.
Return for Risk
Risk / Return Rank
PAJRX ranks 63 for risk / return — better than 63% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Target 2025 Fund (PAJRX) and compare them to S&P 500 Index.
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.
| PAJRX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.11 | ||
| Sortino ratioReturn per unit of downside risk | +0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.37 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.72 | 2.78 | -0.07 |
| Martin ratioReturn relative to average drawdown | 11.88 | 12.44 | -0.56 |
Dividends
Dividend History
T. Rowe Price Target 2025 Fund provided a 6.53% dividend yield over the last twelve months, with an annual payout of $0.93 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.93 | $0.93 | $0.69 | $0.45 | $0.88 | $0.59 | $0.45 | $0.43 | $0.52 | $0.21 | $0.17 | $0.18 |
Dividend yield | 6.53% | 6.88% | 5.29% | 3.57% | 7.51% | 4.03% | 3.21% | 3.39% | 4.61% | 1.71% | 1.53% | 1.64% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Target 2025 Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.93 | $0.93 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.69 | $0.69 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.45 | $0.45 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.88 | $0.88 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.59 | $0.59 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the T. Rowe Price Target 2025 Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the T. Rowe Price Target 2025 Fund was 22.48%, occurring on Mar 23, 2020. Recovery took 92 trading sessions.
The current T. Rowe Price Target 2025 Fund drawdown is 0.28%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -22.48%Mar 2020 | 1mo 2d | 4mo 13d | 5mo 15dFeb 2020 - Aug 2020 |
Bear market2022 | -19.72%Oct 2022 | 11mo 1d | 1y 8mo | 2y 7moNov 2021 - Jul 2024 |
2016 correction2016 | -12.75%Feb 2016 | 8mo 25d | 6mo 6d | 1y 2moMay 2015 - Aug 2016 |
Rate-hike selloffLate 2018 | -10.58%Dec 2018 | 10mo 29d | 3mo 12d | 1y 2moJan 2018 - Apr 2019 |
2025 selloff2025 | -7.27%Apr 2025 | 1mo 19d | 1mo 27d | 3mo 16dFeb 2025 - Jun 2025 |
Drawdown Indicators
| PAJRX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -22.48% | -56.78% | +34.30% |
Max Drawdown (1Y)Largest decline over 1 year | -4.86% | -9.10% | +4.24% |
Max Drawdown (3Y)Largest decline over 3 years | -7.27% | -18.90% | +11.63% |
Max Drawdown (5Y)Largest decline over 5 years | -19.72% | -25.43% | +5.71% |
Max Drawdown (10Y)Largest decline over 10 years | -22.48% | -33.92% | +11.44% |
Current DrawdownCurrent decline from peak | -0.28% | -1.80% | +1.52% |
Average DrawdownAverage peak-to-trough decline | -3.33% | -10.71% | +7.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.10% | 2.03% | -0.93% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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