T. Rowe Price Target 2065 Fund (RPFDX)
The mutual fund invests in a diversified portfolio of T. Rowe Price stock and bond funds based on a target retirement date strategy, with an emphasis on the year 2065. The allocation shifts over time in line with the anticipated retirement age of 65.
Fund Info
Oct 12, 2020
$500,000
Large-Cap
Blend
Expense Ratio
RPFDX has an expense ratio of 0.46%, placing it in the medium range.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
T. Rowe Price Target 2065 Fund (RPFDX) returned 4.61% year-to-date (YTD) and 9.61% over the past 12 months.
RPFDX
4.61%
4.94%
0.18%
9.61%
8.99%
N/A
N/A
^GSPC (Benchmark)
0.51%
6.15%
-2.00%
12.92%
12.68%
14.19%
10.85%
Monthly Returns
The table below presents the monthly returns of RPFDX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 3.52% | -0.30% | -3.03% | -0.23% | 4.77% | 4.61% | |||||||
| 2024 | 0.09% | 4.53% | 3.75% | -3.53% | 4.08% | 1.04% | 2.14% | 2.33% | 1.52% | -2.16% | 4.27% | -4.80% | 13.46% |
| 2023 | 7.18% | -2.87% | 2.27% | 1.25% | -0.95% | 5.67% | 3.64% | -2.54% | -4.05% | -2.81% | 8.30% | 3.75% | 19.40% |
| 2022 | -5.42% | -2.45% | 1.12% | -8.12% | 0.19% | -7.61% | 6.53% | -3.87% | -8.64% | 6.12% | 7.29% | -6.75% | -21.18% |
| 2021 | -0.27% | 3.75% | 2.91% | 4.20% | 1.48% | 0.89% | 0.72% | 2.55% | -3.89% | 4.94% | -3.01% | 0.78% | 15.67% |
| 2020 | -5.23% | 12.41% | 4.40% | 11.22% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of RPFDX is 44, indicating average performance compared to other mutual funds on our website. Here’s a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for T. Rowe Price Target 2065 Fund (RPFDX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
T. Rowe Price Target 2065 Fund provided a 2.52% dividend yield over the last twelve months, with an annual payout of $0.34 per share.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 |
|---|---|---|---|---|---|---|
| Dividend | $0.34 | $0.34 | $0.33 | $0.38 | $0.44 | $0.15 |
Dividend yield | 2.52% | 2.64% | 2.87% | 3.91% | 3.49% | 1.32% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Target 2065 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.34 | $0.34 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.33 | $0.33 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.38 | $0.38 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.44 | $0.44 |
| 2020 | $0.15 | $0.15 |
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 2065 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 2065 Fund was 29.69%, occurring on Oct 14, 2022. Recovery took 431 trading sessions.
The current T. Rowe Price Target 2065 Fund drawdown is 0.99%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -29.69% | Nov 17, 2021 | 229 | Oct 14, 2022 | 431 | Jul 5, 2024 | 660 |
| -15.7% | Dec 5, 2024 | 84 | Apr 8, 2025 | — | — | — |
| -7.6% | Jul 17, 2024 | 14 | Aug 5, 2024 | 14 | Aug 23, 2024 | 28 |
| -5.42% | Oct 26, 2020 | 5 | Oct 30, 2020 | 4 | Nov 5, 2020 | 9 |
| -4.94% | Sep 7, 2021 | 20 | Oct 4, 2021 | 18 | Oct 28, 2021 | 38 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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