T. Rowe Price Retirement 2040 Advisor (PARDX)

Fund Assets	26.53B
Expense Ratio	0.84%
Min. Investment	$2,500
Turnover	14.90%
Dividend (ttm)	1.43
Dividend Yield	3.77%
Dividend Growth	128.61%
Payout Frequency	Annual
Ex-Dividend Date	Dec 19, 2025

Previous Close	38.02
YTD Return	12.63%
1-Year Return	18.76%
5-Year Return	45.42%
52-Week Low	32.76
52-Week High	38.38
Beta (5Y)	0.83
Holdings	31
Inception Date	Oct 31, 2003

About PARDX

T. Rowe Price Retirement 2040 Fund – Advisor Class is a target-date mutual fund designed to pursue long-term total return with an emphasis on both capital growth and income. It follows a glide path that gradually shifts from a higher equity allocation toward more fixed income as 2040 approaches, aiming to balance appreciation with income generation through and beyond the target date. The fund is actively managed as a fund-of-funds, investing across a diversified lineup of T. Rowe Price stock and bond strategies spanning U.S. large-cap, mid-cap, and international equities, core bonds, and real assets. Its asset mix is adjusted over time to reflect the needs of investors nearing and entering retirement, with a substantial equity stake maintained before and after the target date to support long-horizon objectives. The fund’s benchmark aligns with target-date peers, and it employs underlying vehicles to capture broad market exposure and sector diversification while centralizing portfolio construction and risk management under T. Rowe Price’s multi-asset team.

• Fund Family: T. Rowe Price
• Category: Target-Date 2040
• Performance Rating: Above Average
• Risk Rating: Average
• Stock Exchange: NASDAQ
• Ticker Symbol: PARDX
• Share Class: -advisor Class
• Index: S&P Target Date 2040 TR

Performance

PARDX had a total return of 18.76% in the past year, including dividends. Since the fund's inception, the average annual return has been 8.79%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
TRHDX	-i Class	0.42%
RRTDX	-r Class	1.09%

Top 10 Holdings

77.89% of assets

Name	Symbol	Weight
T. Rowe Price Value Z	TRZAX	14.58%
T. Rowe Price Growth Stock Z	TRJZX	14.38%
T. Rowe Price US Large-Cap Core Z	TRZLX	7.91%
T. Rowe Price Equity Index 500 Z	TRHZX	7.81%
T. Rowe Price International Value Eq Z	TROZX	7.01%
T. Rowe Price Overseas Stock Z	TRZSX	6.61%
T. Rowe Price New Income Z	TRVZX	5.87%
T. Rowe Price International Stock Z	TRNZX	5.79%
T. Rowe Price Real Assets Z	TRZRX	4.95%
T. Rowe Price Mid-Cap Value Z	TRTZX	2.99%

Dividend History

Ex-Dividend	Amount	Pay Date
Dec 19, 2025	$1.4288	Dec 22, 2025
Dec 20, 2024	$0.625	Dec 23, 2024
Dec 21, 2023	$1.4878	Dec 22, 2023
Dec 21, 2022	$2.0973	Dec 22, 2022
Dec 21, 2021	$2.508	Dec 22, 2021
Dec 22, 2020	$1.460	Dec 23, 2020

Data Sources: Tiingo, Financial Modeling Prep, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Financial Modeling Prep. Several fund data points are also provided by Finnhub.

Last checked:

Aug 26, 2026

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