- Issuer
- T. Rowe Price
- Inception Date
- Nov 13, 2023
- Category
- Target Retirement Date
- Index Tracked
- S&P Target Date 2045
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
Share Price Chart
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Performance
TRIKX Performance Chart
T. Rowe Price Retirement 2045 Fund Class I (TRIKX) is up 11.0% since the beginning of the year. TRIKX is currently trading at $28 per share.
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Returns By Period
T. Rowe Price Retirement 2045 Fund Class I (TRIKX) has returned 11.02% so far this year and 25.54% over the past 12 months.
T. Rowe Price Retirement 2045 Fund Class I
- 1D
- 1.15%
- 1M
- 1.37%
- YTD
- 11.02%
- 6M
- 10.80%
- 1Y
- 25.54%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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%
TRIKX Monthly Returns History
Based on dividend-adjusted daily data since Nov 14, 2023, TRIKX's average daily return is +0.08%, while the average monthly return is +1.55%. At this rate, an investment would double in approximately 3.8 years.
Historically, 78% of months were positive and 22% were negative. The best month was Apr 2026 with a return of +8.2%, while the worst month was Mar 2026 at -6.7%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, TRIKX closed higher 56% 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% | -6.67% | 8.18% | 3.38% | 0.18% | 11.02% | ||||||
| 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 1.34%, beta of 0.83, and R2 of 0.89 versus S&P 500 Index. Calculated based on daily prices since November 14, 2023.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (81.38%) than losses (74.10%) - typical of diversified or defensive assets.
- Alpha
- 1.34%
- Beta
- 0.83
- R²
- 0.89
- Upside Capture
- 81.38%
- Downside Capture
- 74.10%
Expense Ratio
TRIKX has an expense ratio of 0.43%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TRIKX ranks 57 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 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.
| TRIKX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | +0.08 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.37 | +0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.65 | 2.78 | -0.14 |
| Martin ratioReturn relative to average drawdown | 11.55 | 12.44 | -0.89 |
Dividends
Dividend History
T. Rowe Price Retirement 2045 Fund Class I provided a 3.56% 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 | 3.56% | 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 | $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 0.42%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -15.16%Apr 2025 | 1mo 18d | 1mo 29d | 3mo 17dFeb 2025 - Jun 2025 |
2026 pullback2026 | -9.52%Mar 2026 | 1mo 2d | 18d | 1mo 20dFeb 2026 - Apr 2026 |
2024 pullback2024 | -7.38%Aug 2024 | 19d | 18d | 1mo 7dJul 2024 - Aug 2024 |
2025 pullback2025 | -5.09%Jan 2025 | 1mo 6d | 1mo 4d | 2mo 10dDec 2024 - Feb 2025 |
2024 pullback2024 | -4.73%Apr 2024 | 18d | 25d | 1mo 13dApr 2024 - May 2024 |
Drawdown Indicators
| TRIKX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.16% | -56.78% | +41.62% |
Max Drawdown (1Y)Largest decline over 1 year | -9.52% | -9.10% | -0.42% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.42% | -1.80% | +1.38% |
Average DrawdownAverage peak-to-trough decline | -1.53% | -10.71% | +9.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.18% | 2.03% | +0.15% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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