- ISIN
- US74149P7704
- CUSIP
- 74149P770
- Issuer
- T. Rowe Price
- Inception Date
- Feb 27, 2004
- Category
- Target Retirement Date
- Distribution Policy
- Accumulating
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
TRRJX Performance Chart
T. Rowe Price Retirement 2035 Fund (TRRJX) is up 9.0% since the beginning of the year. TRRJX is currently trading at $25 per share. Investors who bought $1,000 worth of TRRJX shares 5 years ago would now be looking at an investment worth $1,384.
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Returns By Period
T. Rowe Price Retirement 2035 Fund (TRRJX) has returned 9.02% so far this year and 15.71% over the past 12 months. Over the last ten years, TRRJX has returned 9.87% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
T. Rowe Price Retirement 2035 Fund
- 1D
- 0.95%
- 1M
- 1.27%
- YTD
- 9.02%
- 6M
- 8.89%
- 1Y
- 15.71%
- 3Y*
- 13.13%
- 5Y*
- 6.72%
- 10Y*
- 9.87%
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%
TRRJX Monthly Returns History
Based on dividend-adjusted daily data since Mar 1, 2004, TRRJX's average daily return is +0.04%, while the average monthly return is +0.72%. At this rate, an investment would double in approximately 8.1 years.
Historically, 64% of months were positive and 36% were negative. The best month was Apr 2009 with a return of +11.7%, while the worst month was Oct 2008 at -19.1%. The longest winning streak lasted 13 consecutive months, and the longest losing streak was 6 months.
On a daily basis, TRRJX closed higher 53% of trading days. The best single day was Oct 13, 2008 with a return of +10.6%, while the worst single day was Mar 16, 2020 at -9.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 3.72% | 1.48% | -5.77% | 6.68% | 2.83% | 0.20% | 9.02% | ||||||
| 2025 | 2.94% | 0.14% | -2.44% | -0.19% | 3.69% | 3.19% | 0.49% | 2.46% | 2.58% | 1.05% | 0.75% | -3.90% | 10.96% |
| 2024 | -0.05% | 3.58% | 3.16% | -3.21% | 3.57% | 0.92% | 2.11% | 2.07% | 1.48% | -2.04% | 3.53% | -3.37% | 11.99% |
| 2023 | 6.32% | -2.59% | 2.09% | 1.16% | -1.04% | 4.70% | 3.01% | -2.26% | -3.73% | -2.56% | 7.55% | 4.93% | 18.14% |
| 2022 | -4.82% | -2.30% | 0.66% | -7.30% | 0.10% | -6.75% | 5.84% | -3.52% | -7.94% | 4.83% | 6.75% | -3.71% | -17.96% |
| 2021 | -0.19% | 3.11% | 1.92% | 3.73% | 1.13% | 1.03% | 0.59% | 2.19% | -3.34% | 4.05% | -2.46% | 2.77% | 15.21% |
Benchmark Metrics
T. Rowe Price Retirement 2035 Fund has an annualized alpha of 0.84%, beta of 0.81, and R2 of 0.91 versus S&P 500 Index. Calculated based on daily prices since March 01, 2004.
- This fund participated in 89.71% of S&P 500 Index downside but only 87.43% of its upside - more exposed to losses than it benefited from rallies.
- Alpha
- 0.84%
- Beta
- 0.81
- R²
- 0.91
- Upside Capture
- 87.43%
- Downside Capture
- 89.71%
Expense Ratio
TRRJX has an expense ratio of 0.59%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TRRJX ranks 31 for risk / return — below 31% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Retirement 2035 Fund (TRRJX) 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.
| TRRJX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.76 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 1.37 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 1.97 | 2.78 | -0.81 |
| Martin ratioReturn relative to average drawdown | 7.54 | 12.44 | -4.90 |
Dividends
Dividend History
T. Rowe Price Retirement 2035 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 | $0.50 | $0.90 | $1.65 | $1.57 | $1.02 | $1.08 | $1.39 | $0.72 | $0.47 | $0.64 |
Dividend yield | 0.00% | 0.00% | 2.36% | 4.68% | 9.67% | 6.89% | 4.80% | 5.68% | 8.55% | 3.80% | 2.89% | 4.05% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Retirement 2035 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 | $0.50 | $0.50 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.90 | $0.90 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.65 | $1.65 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.57 | $1.57 |
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 2035 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 2035 Fund was 53.57%, occurring on Mar 9, 2009. Recovery took 536 trading sessions.
The current T. Rowe Price Retirement 2035 Fund drawdown is 0.27%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -53.57%Mar 2009 | 1y 4mo | 2y 1mo | 3y 6moOct 2007 - Apr 2011 |
COVID crash2020 | -30.14%Mar 2020 | 1mo 2d | 4mo 16d | 5mo 18dFeb 2020 - Aug 2020 |
Bear market2022 | -25.85%Oct 2022 | 11mo 1d | 1y 5mo | 2y 3moNov 2021 - Mar 2024 |
2011 bear market2011 | -20.71%Oct 2011 | 5mo 4d | 5mo 12d | 10mo 16dMay 2011 - Mar 2012 |
2016 correction2016 | -17.49%Feb 2016 | 8mo 25d | 10mo 2d | 1y 6moMay 2015 - Dec 2016 |
Drawdown Indicators
| TRRJX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.57% | -56.78% | +3.21% |
Max Drawdown (1Y)Largest decline over 1 year | -8.06% | -9.10% | +1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -12.52% | -18.90% | +6.38% |
Max Drawdown (5Y)Largest decline over 5 years | -25.85% | -25.43% | -0.42% |
Max Drawdown (10Y)Largest decline over 10 years | -30.14% | -33.92% | +3.78% |
Current DrawdownCurrent decline from peak | -0.27% | -1.80% | +1.53% |
Average DrawdownAverage peak-to-trough decline | -6.63% | -10.71% | +4.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.09% | 2.03% | +0.06% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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