- ISIN
- US74149P2002
- CUSIP
- 74149P200
- Issuer
- T. Rowe Price
- Inception Date
- Sep 29, 2002
- Category
- Target Retirement Date
- Min. Investment
- $2,500
- Distribution Policy
- Accumulating
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
TRRBX Performance Chart
T. Rowe Price Retirement 2020 Fund (TRRBX) is up 6.3% since the beginning of the year. TRRBX is currently trading at $21 per share. Investors who bought $1,000 worth of TRRBX shares 5 years ago would now be looking at an investment worth $1,234.
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Returns By Period
T. Rowe Price Retirement 2020 Fund (TRRBX) has returned 6.28% so far this year and 8.65% over the past 12 months. Over the last ten years, TRRBX has returned 7.15% per year, falling short of the S&P 500 Index benchmark, which averaged 13.75% annually.
T. Rowe Price Retirement 2020 Fund
- 1D
- 0.05%
- 1M
- 1.99%
- YTD
- 6.28%
- 6M
- 0.77%
- 1Y
- 8.65%
- 3Y*
- 9.69%
- 5Y*
- 4.29%
- 10Y*
- 7.15%
Benchmark (S&P 500 Index)
- 1D
- 0.13%
- 1M
- 5.25%
- YTD
- 11.16%
- 6M
- 11.43%
- 1Y
- 28.20%
- 3Y*
- 21.12%
- 5Y*
- 12.66%
- 10Y*
- 13.75%
TRRBX Monthly Returns History
Based on dividend-adjusted daily data since Oct 1, 2002, TRRBX's average daily return is +0.03%, while the average monthly return is +0.67%. At this rate, an investment would double in approximately 8.7 years.
Historically, 66% of months were positive and 34% were negative. The best month was Apr 2009 with a return of +10.1%, while the worst month was Oct 2008 at -16.5%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 5 months.
On a daily basis, TRRBX closed higher 53% of trading days. The best single day was Oct 13, 2008 with a return of +8.4%, while the worst single day was Oct 15, 2008 at -7.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 2.53% | 1.19% | -4.15% | 4.74% | 1.99% | 0.05% | 6.28% | ||||||
| 2025 | 2.15% | 0.58% | -1.52% | 0.00% | 2.28% | 2.44% | 0.46% | 1.92% | 1.88% | 0.83% | 0.58% | -5.41% | 6.07% |
| 2024 | 0.00% | 2.14% | 2.26% | -2.37% | 2.65% | 0.86% | 1.92% | 1.73% | 1.34% | -1.67% | 2.58% | -2.41% | 9.17% |
| 2023 | 4.84% | -2.11% | 1.92% | 0.86% | -1.02% | 3.03% | 2.00% | -1.58% | -2.82% | -1.82% | 5.80% | 4.12% | 13.51% |
| 2022 | -3.38% | -1.77% | 0.05% | -5.45% | 0.05% | -5.16% | 4.55% | -2.93% | -6.41% | 2.95% | 5.19% | -2.51% | -14.58% |
| 2021 | -0.13% | 1.85% | 1.21% | 2.78% | 0.87% | 0.82% | 0.69% | 1.46% | -2.32% | 2.66% | -1.63% | 2.00% | 10.60% |
Benchmark Metrics
T. Rowe Price Retirement 2020 Fund has an annualized alpha of 1.54%, beta of 0.61, and R2 of 0.84 versus S&P 500 Index. Calculated based on daily prices since October 02, 2002.
- This fund participated in 73.64% of S&P 500 Index downside but only 69.85% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.61 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
- 1.54%
- Beta
- 0.61
- R²
- 0.84
- Upside Capture
- 69.85%
- Downside Capture
- 73.64%
Expense Ratio
TRRBX has an expense ratio of 0.53%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TRRBX ranks 14 for risk / return — in the bottom 14% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Retirement 2020 Fund (TRRBX) and compare them to S&P 500 Index.
| TRRBX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.08 | 2.39 | -1.31 |
Sortino ratioReturn per unit of downside risk | 1.35 | 3.25 | -1.90 |
Omega ratioGain probability vs. loss probability | 1.25 | 1.43 | -0.19 |
Calmar ratioReturn relative to maximum drawdown | 1.19 | 3.11 | -1.92 |
Martin ratioReturn relative to average drawdown | 3.47 | 14.38 | -10.91 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
T. Rowe Price Retirement 2020 Fund provided a 0.00% dividend yield over the last twelve months, with an annual payout of $0.00 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.00 | $0.00 | $0.80 | $1.21 | $2.23 | $2.88 | $2.23 | $1.22 | $1.88 | $1.08 | $0.36 | $0.58 |
Dividend yield | 0.00% | 0.00% | 4.28% | 6.78% | 13.33% | 12.99% | 9.80% | 5.52% | 9.63% | 4.79% | 1.76% | 2.92% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Retirement 2020 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 | $0.00 | $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 | $0.80 | $0.80 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.21 | $1.21 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.23 | $2.23 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.88 | $2.88 |
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 2020 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 2020 Fund was 47.04%, occurring on Mar 9, 2009. Recovery took 469 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -47.04%Mar 2009 | 1y 4mo | 1y 10mo | 3y 3moOct 2007 - Jan 2011 |
COVID crash2020 | -23.90%Mar 2020 | 1mo 2d | 4mo 14d | 5mo 16dFeb 2020 - Aug 2020 |
Bear market2022 | -20.54%Oct 2022 | 11mo 1d | 1y 5mo | 2y 4moNov 2021 - Mar 2024 |
2011 correction2011 | -16.64%Oct 2011 | 5mo 4d | 4mo 24d | 9mo 28dMay 2011 - Feb 2012 |
2016 correction2016 | -13.94%Feb 2016 | 8mo 25d | 6mo 9d | 1y 2moMay 2015 - Aug 2016 |
Drawdown Indicators
| TRRBX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -47.04% | -56.78% | +9.74% |
Max Drawdown (1Y)Largest decline over 1 year | -7.68% | -9.10% | +1.42% |
Max Drawdown (3Y)Largest decline over 3 years | -8.24% | -18.90% | +10.66% |
Max Drawdown (5Y)Largest decline over 5 years | -20.54% | -25.43% | +4.89% |
Max Drawdown (10Y)Largest decline over 10 years | -23.90% | -33.92% | +10.02% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -5.05% | -10.72% | +5.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.61% | 1.97% | +0.64% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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