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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in T. Rowe Price Retirement 2045 Fund Class I, 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 2045 Fund Class I (TRIKX) has returned -3.54% so far this year and 14.20% over the past 12 months.
T. Rowe Price Retirement 2045 Fund Class I
- 1D
- -0.33%
- 1M
- -9.15%
- YTD
- -3.54%
- 6M
- -0.86%
- 1Y
- 14.20%
- 3Y*
- —
- 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 Nov 14, 2023, TRIKX's average daily return is +0.06%, while the average monthly return is +1.22%. At this rate, your investment would double in approximately 4.8 years.
Historically, 76% of months were positive and 24% were negative. The best month was Dec 2023 with a return of +5.2%, while the worst month was Mar 2026 at -9.2%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, TRIKX closed higher 55% of trading days. The best single day was Apr 9, 2025 with a return of +7.4%, while the worst single day was Apr 4, 2025 at -5.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.54% | 2.55% | -9.15% | -3.54% | |||||||||
| 2025 | 3.46% | -0.26% | -2.83% | -0.31% | 4.58% | 3.70% | 0.58% | 2.88% | 2.96% | 1.21% | 0.85% | 0.71% | 18.71% |
| 2024 | 0.05% | 4.52% | 3.60% | -3.43% | 3.98% | 1.02% | 2.10% | 2.28% | 1.53% | -2.11% | 4.14% | -3.83% | 14.23% |
| 2023 | 1.75% | 5.20% | 7.04% |
Benchmark Metrics
T. Rowe Price Retirement 2045 Fund Class I has an annualized alpha of 2.24%, beta of 0.82, and R² of 0.89 versus S&P 500 Index. Calculated based on daily prices since November 15, 2023.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (87.52%) than losses (80.44%) — typical of diversified or defensive assets.
- This fund generated an annualized alpha of 2.24% versus S&P 500 Index — delivering returns beyond what market exposure alone would predict.
- Alpha
- 2.24%
- Beta
- 0.82
- R²
- 0.89
- Upside Capture
- 87.52%
- Downside Capture
- 80.44%
Expense Ratio
TRIKX has an expense ratio of 0.43%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TRIKX ranks 46 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 2045 Fund Class I (TRIKX) and compare them to a chosen benchmark (S&P 500 Index).
| TRIKX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.92 | 0.90 | +0.03 |
Sortino ratioReturn per unit of downside risk | 1.36 | 1.39 | -0.02 |
Omega ratioGain probability vs. loss probability | 1.21 | 1.21 | 0.00 |
Calmar ratioReturn relative to maximum drawdown | 1.10 | 1.40 | -0.30 |
Martin ratioReturn relative to average drawdown | 5.04 | 6.61 | -1.57 |
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 TRIKX 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 2045 Fund Class I provided a 4.10% dividend yield over the last twelve months, with an annual payout of $1.00 per share.
| Period | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| Dividend | $1.00 | $1.00 | $0.49 | $0.88 |
Dividend yield | 4.10% | 3.95% | 2.21% | 4.42% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Retirement 2045 Fund Class I. 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 | $1.00 | $1.00 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.49 | $0.49 |
| 2023 | $0.88 | $0.88 |
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 2045 Fund Class I. 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 2045 Fund Class I was 15.16%, occurring on Apr 8, 2025. Recovery took 41 trading sessions.
The current T. Rowe Price Retirement 2045 Fund Class I drawdown is 9.52%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -15.16% | Feb 19, 2025 | 35 | Apr 8, 2025 | 41 | Jun 6, 2025 | 76 |
| -9.52% | Feb 26, 2026 | 23 | Mar 30, 2026 | — | — | — |
| -7.38% | Jul 17, 2024 | 14 | Aug 5, 2024 | 14 | Aug 23, 2024 | 28 |
| -5.09% | Dec 5, 2024 | 24 | Jan 10, 2025 | 23 | Feb 13, 2025 | 47 |
| -4.73% | Apr 1, 2024 | 15 | Apr 19, 2024 | 17 | May 14, 2024 | 32 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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