- ISIN
- US74149P7621
- CUSIP
- 74149P762
- Issuer
- T. Rowe Price
- Inception Date
- May 31, 2005
- Region
- Global (Broad)
- Category
- Target Retirement Date
- Min. Investment
- $2,500
- Domicile
- United States
- Distribution Policy
- Accumulating
- Asset Class
- Multi-Asset
Share Price Chart
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Performance
TRRKX Performance Chart
T. Rowe Price Retirement 2045 Fund - Investor Class (TRRKX) is up 10.5% since the beginning of the year. TRRKX is currently trading at $28 per share. Investors who bought $1,000 worth of TRRKX shares 5 years ago would now be looking at an investment worth $1,432.
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Returns By Period
T. Rowe Price Retirement 2045 Fund - Investor Class (TRRKX) has returned 10.46% so far this year and 17.15% over the past 12 months. Over the last ten years, TRRKX has returned 10.65% per year, falling short of the S&P 500 Index benchmark, which averaged 13.26% annually.
T. Rowe Price Retirement 2045 Fund - Investor Class
- 1D
- 1.70%
- 1M
- -0.07%
- 6M
- 5.72%
- YTD
- 10.46%
- 1Y
- 17.15%
- 3Y*
- 14.14%
- 5Y*
- 7.44%
- 10Y*
- 10.65%
- ALL TIME*
- 8.65%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
TRRKX Monthly Returns History
Based on dividend-adjusted daily data since Jun 1, 2005, TRRKX's average daily return is +0.04%, while the average monthly return is +0.78%. At this rate, an investment would double in approximately 7.4 years.
Historically, 63% of months were positive and 37% 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, TRRKX 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 -10.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 4.48% | 1.58% | -6.71% | 8.14% | 3.38% | 0.25% | -0.46% | 10.46% | |||||
| 2025 | 3.41% | -0.22% | -2.87% | -0.31% | 4.54% | 3.70% | 0.54% | 2.89% | 2.93% | 1.21% | 0.85% | -2.98% | 14.20% |
| 2024 | -0.00% | 4.47% | 3.56% | -3.43% | 3.94% | 1.02% | 2.11% | 2.29% | 1.49% | -2.12% | 4.10% | -3.82% | 13.94% |
| 2023 | 6.95% | -2.71% | 2.11% | 1.25% | -0.97% | 5.60% | 3.55% | -2.53% | -4.03% | -2.76% | 8.14% | 5.17% | 20.52% |
| 2022 | -5.39% | -2.48% | 1.04% | -7.97% | 0.15% | -7.54% | 6.46% | -3.75% | -8.54% | 5.90% | 7.28% | -4.26% | -19.03% |
| 2021 | -0.14% | 3.72% | 2.25% | 4.13% | 1.25% | 1.11% | 0.51% | 2.52% | -3.76% | 4.68% | -2.88% | 1.75% | 15.80% |
Benchmark Metrics
T. Rowe Price Retirement 2045 Fund - Investor Class has an annualized alpha of 0.94%, beta of 0.85, and R2 of 0.91 versus S&P 500 Index. Calculated based on daily prices since June 01, 2005.
- This fund participated in 92.94% of S&P 500 Index downside but only 92.02% of its upside - more exposed to losses than it benefited from rallies.
- With beta of 0.85 and R2 of 0.91, 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
- 0.94%
- Beta
- 0.85
- R²
- 0.91
- Upside Capture
- 92.02%
- Downside Capture
- 92.94%
Expense Ratio
TRRKX has an expense ratio of 0.60%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TRRKX ranks 38 for risk / return — above 38% of mutual funds peers on PortfoliosLab. Its historical combined result is below the peer median.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for T. Rowe Price Retirement 2045 Fund - Investor Class (TRRKX) 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.
| TRRKX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.21 | ||
| Sortino ratioReturn per unit of downside risk | -0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.25 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.66 | 2.00 | -0.34 |
| Martin ratioReturn relative to average drawdown | 6.73 | 8.49 | -1.76 |
Dividends
Dividend History
T. Rowe Price Retirement 2045 Fund - Investor Class 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 | $0.44 | $0.88 | $1.35 | $1.28 | $0.95 | $1.10 | $1.41 | $0.65 | $0.50 | $0.65 |
Dividend yield | 0.00% | 0.00% | 1.96% | 4.40% | 7.83% | 5.58% | 4.52% | 5.94% | 8.98% | 3.52% | 3.20% | 4.25% |
Monthly Dividends
The table displays the monthly dividend distributions for T. Rowe Price Retirement 2045 Fund - Investor Class. 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 | $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 | $0.44 | $0.44 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.88 | $0.88 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.35 | $1.35 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.28 | $1.28 |
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 - Investor Class. 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 - Investor Class was 53.54%, occurring on Mar 9, 2009. Recovery took 536 trading sessions.
The current T. Rowe Price Retirement 2045 Fund - Investor Class drawdown is 0.95%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-53.54%Mar 2009 | 1y 5mo | 2y 1mo | 3y 6moOct 2007 - Apr 2011 | Financial crisis2007–2009 |
-32.48%Mar 2020 | 1mo 9d | 4mo 22d | 6mo 1dFeb 2020 - Aug 2020 | COVID crash2020 |
-28.75%Oct 2022 | 11mo 1d | 1y 5mo | 2y 3moNov 2021 - Mar 2024 | Bear market2022 |
-20.87%Oct 2011 | 5mo 4d | 5mo 12d | 10mo 16dMay 2011 - Mar 2012 | — |
-18.28%Feb 2016 | 8mo 25d | 10mo 2d | 1y 6moMay 2015 - Dec 2016 | — |
Drawdown Indicators
| TRRKX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -53.54% | -56.78% | +3.24% |
Max Drawdown (1Y)Largest decline over 1 year | -9.49% | -9.10% | -0.39% |
Max Drawdown (3Y)Largest decline over 3 years | -15.16% | -18.90% | +3.74% |
Max Drawdown (5Y)Largest decline over 5 years | -28.75% | -25.43% | -3.32% |
Max Drawdown (10Y)Largest decline over 10 years | -32.48% | -33.92% | +1.44% |
Current DrawdownCurrent decline from peak | -0.95% | -1.58% | +0.63% |
Average DrawdownAverage peak-to-trough decline | -7.17% | -10.70% | +3.53% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 2.14% | +0.18% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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