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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in T. Rowe Price Retirement Blend 2045 Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
T. Rowe Price Retirement Blend 2045 Fund (TBLKX) has returned -3.69% so far this year and 15.76% over the past 12 months.
T. Rowe Price Retirement Blend 2045 Fund
- 1D
- -0.33%
- 1M
- -8.92%
- YTD
- -3.69%
- 6M
- -0.87%
- 1Y
- 15.76%
- 3Y*
- 14.57%
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Jul 30, 2021, TBLKX's average daily return is +0.03%, while the average monthly return is +0.65%. At this rate, your investment would double in approximately 8.9 years.
Historically, 63% of months were positive and 38% were negative. The best month was Nov 2023 with a return of +8.3%, while the worst month was Mar 2026 at -8.9%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, TBLKX closed higher 51% of trading days. The best single day was Apr 9, 2025 with a return of +7.8%, while the worst single day was Apr 4, 2025 at -5.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.46% | 2.20% | -8.92% | -3.69% | |||||||||
| 2025 | 3.50% | -0.36% | -3.21% | -0.00% | 4.88% | 3.95% | 0.68% | 3.11% | 3.18% | 1.50% | 0.62% | 0.79% | 19.98% |
| 2024 | 0.00% | 4.35% | 3.47% | -3.74% | 4.18% | 1.15% | 2.36% | 2.22% | 1.81% | -2.13% | 4.35% | -3.66% | 14.79% |
| 2023 | 7.24% | -2.75% | 2.24% | 1.15% | -1.02% | 5.75% | 3.48% | -2.63% | -4.21% | -2.82% | 8.34% | 5.36% | 20.88% |
| 2022 | -5.12% | -2.49% | 1.49% | -7.87% | 0.34% | -7.83% | 6.77% | -3.69% | -8.86% | 6.31% | 7.29% | -4.25% | -18.12% |
| 2021 | 2.51% | -3.82% | 4.88% | -2.62% | 3.41% | 4.14% |
Benchmark Metrics
T. Rowe Price Retirement Blend 2045 Fund has an annualized alpha of -0.11%, beta of 0.86, and R² of 0.92 versus S&P 500 Index. Calculated based on daily prices since August 02, 2021.
- This fund participated in 92.22% of S&P 500 Index downside but only 86.43% of its upside — more exposed to losses than it benefited from rallies.
- With beta of 0.86 and R² of 0.92, this fund moves broadly in line with S&P 500 Index — much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- -0.11%
- Beta
- 0.86
- R²
- 0.92
- Upside Capture
- 86.43%
- Downside Capture
- 92.22%
Expense Ratio
TBLKX has an expense ratio of 0.25%, which is considered low.
Return for Risk
Risk / Return Rank
TBLKX ranks 53 for risk / return — on par with similar mutual funds. You're getting a typical balance of risk and reward. Not a standout, but not a red flag either — a reasonable choice if other factors align with your goals.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Retirement Blend 2045 Fund (TBLKX) and compare them to a chosen benchmark (S&P 500 Index).
| TBLKX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.00 | 0.90 | +0.10 |
Sortino ratioReturn per unit of downside risk | 1.46 | 1.39 | +0.08 |
Omega ratioGain probability vs. loss probability | 1.22 | 1.21 | +0.01 |
Calmar ratioReturn relative to maximum drawdown | 1.22 | 1.40 | -0.18 |
Martin ratioReturn relative to average drawdown | 5.75 | 6.61 | -0.85 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore TBLKX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
T. Rowe Price Retirement Blend 2045 Fund provided a 2.60% dividend yield over the last twelve months, with an annual payout of $0.32 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
| Dividend | $0.32 | $0.32 | $0.22 | $0.19 | $0.16 | $0.22 |
Dividend yield | 2.60% | 2.50% | 2.01% | 1.95% | 1.96% | 2.21% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Retirement Blend 2045 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 | |||||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.32 | $0.32 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.22 | $0.22 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.19 | $0.19 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.16 | $0.16 |
| 2021 | $0.22 | $0.22 |
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 Retirement Blend 2045 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 Retirement Blend 2045 Fund was 26.34%, occurring on Oct 14, 2022. Recovery took 332 trading sessions.
The current T. Rowe Price Retirement Blend 2045 Fund drawdown is 9.26%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -26.34% | Nov 17, 2021 | 229 | Oct 14, 2022 | 332 | Feb 12, 2024 | 561 |
| -15.75% | Feb 19, 2025 | 35 | Apr 8, 2025 | 39 | Jun 4, 2025 | 74 |
| -9.26% | Feb 26, 2026 | 23 | Mar 30, 2026 | — | — | — |
| -7.52% | Jul 17, 2024 | 14 | Aug 5, 2024 | 14 | Aug 23, 2024 | 28 |
| -5.11% | Dec 5, 2024 | 24 | Jan 10, 2025 | 23 | Feb 13, 2025 | 47 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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